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The Senate has declared the current payments by the Nigerian National Petroleum Corporation for subsidy of premium motor spirit (petrol) illegal.
It asked the corporation to refund the sum of N216bn spent for the purpose in 2017 under the guise of โoperational costsโ into the Federal Governmentโs coffers.
The legislature also asked the corporation to stop further payment of the subsidy, while asking it to pay the arrears owed fuel marketers.
The legislature also resolved to legalise the payment by including it in the 2018 budget.
They also called for sanctioning of the officials involved in the illegal payments. Read more