Contrary to claims, the Nigerian National Petroleum Corporation (NNPC) is still operating fuel subsidy regime. Senator Kabiru Marafa, who chairs the Senate Committee on Petroleum (Downstream) told his colleagues at plenary that NNPC is still operating fuel subsidy through back door.
He posited that contrary to claims made by the Federal Government that the fuel subsidy regime had been abolished, NNPC was still making secret payments.
According to Marafa, the situation has crippled the downstream sector of the petroleum industry, where NNPC has become the sole importer of products.
Sequel to the discovery, he said his committee was currently investigating the illegal payment of subsidy by management of NNPC.
“Even the price of N145 is not realistic. The NNPC is still operating the subsidy regime. “NNPC is now the only body importing petroleum products into the country.
“You cannot import petroleum products into the country right now with the current trend. “We are investigating this subsidy payment by the NNPC,” Marafa said.