N1tr spent on kerosene subsidy without approval – Tambuwal

The Speaker of the House of Representatives, Mr. Aminu Tambuwal, said on Tuesday that available records indicated that the Federal Government spent over N1tr on kerosene subsidy between 2010 and 2013.

Tambuwal said in spite of the expenditure not having the approval of the National Assembly, the product was equally not available in the country for “suffering Nigerians” to buy.

He noted that the product was not sold in any part of the country at the subsidised price of N50 per litre.

Tambuwal spoke in Abuja as the House Committee on Petroleum Resources (Downstream) opened an investigation into subsidy payments on kerosene between 2010 and 2013.

The committee, which is headed by Mr. Dakuku Peterside, had the mandate to establish the actual amount spent on subsidy by the Nigerian National Petroleum Corporation, the sole supplier of the product, and how it got the authority to subsidise kerosene.

The Speaker, who was represented by his Deputy, Mr. Emeka Ihedioha, said, “Curiously, since there were no budgetary provisions for subsidy on kerosene, the people of Nigeria will obviously be interested in knowing the source of funding of kerosene  subsidy and on whose authority such monies were appropriated.”

Culled from Punchng