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It’s only NASS that can make provision for supplementary budget on fuel Subsidy, says NNPC

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The Nigerian National Petroleum Corporation (NNPC) has said it is only the National Assembly that can request for a supplementary budget that can cater for fuel subsidy.

The Group General Manager , Group Public Affairs Division of the NNPC, Ndu Ughamadu , said “It is only the National Assembly that has the power to appropriate for the payment of petrol subsidy. What we incur is under-recovery and not subsidy ,” he said.

The National Vice President, Nigerian Association of Chambers of Commerce , Industry , Mines and Agriculture , Alhaji Remi Bello, also commented on the issue , saying the NNPC would continue to record under-recovery unless there was a budget for the subsidy.

“I don’t know what people want the NNPC to do in this circumstance. If the government is not bold enough to face it headlong and the NNPC is put at the centre, what do you think the NNPC can do? The government is saying that it is not increasing the pump price of petrol and you know the landing cost of fuel, which of course is higher than the cost at the filing stations.

“So I think it is at the doorstep of the Presidency and, in fact, the President in particular. He should face it headlong by removing petrol subsidy once and for all , rather than pretending that it is not paying subsidy and not budgeting for it. He should be bold enough to face it because petrol subsidy is still with us and there should be provision for it in the budget.”