The Minister of Finance, Zainab Ahmed has disclosed that the Federal government is currently paying two hundred and eighty three naira (N283) as subsidy on every litre of Premium Motor Spirit (PMS) imported into the country by Nigerian National Petroleum Corporation (NNPC) Limited.
Ahmed made the disclosure at the investigative hearing of the House of Representatives Ad-hoc Committee on the payment of the controversial fuel subsidy payment between 2013 and 2022.
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Chairman of the committee Ibrahim Aliyu, however immediately picked holes in the Minister’s presentation on projected N18.397 billion fuel subsidy payment per day.
Officials of The Federal inland Revenue Service were also present at the investigative panel where they explained that their role is basically collecting revenue for government and not keeping records on how the monies were expended.
The Executive Chairman earlier explained that the Committee’s inquiry on subsidy were not tax related, thus outside the statutory mandate of the service.
(Editor: Omor Bazuaye)
