OrderPaperToday – It was a blame game affair as the Petroleum Products Pricing Regulatory Agency (PPPRA) asked the House of Representatives Committee on Finance to hold the Nigeria National Petroleum Corporation (NNPC) responsible for its failure to remit billions of naira
This was as the Committee at its investigative hearing on Monday, discovered that the PPPRA has defaulted to remit at least N501million every year to the federation account since 2004.
The Committee is currently probing unremitted funds by Ministries, Departments and Agencies of government (MDAs) since 2015 till date pursuant to a resolution of the House.
The lawmakers lashed the agency and expressed worries on how PPPRA has shortchanged the government and people of the country.
The James Faleke-led committee discovered that the agency had not remitted a kobo since 2014 till date.
OrderPaperNG gathered that in 2014 alone, PPPRA was to pay as revenue the sum of N501million to the consolidated revenue account, which it defaulted on and repeated default in subsequent years till date.
According to the committee, if the N501million was a ‘constant’ as revenue from PPPRA within the period under consideration, then it would have shortchanged government to the tune of over N2billion (N501m × 5 years).
The committee chairman who accused the agency of hiding facts, ordered its officials to reappear on February 24, 2020 with relevant documents like statements of account, outstanding indebtedness, and annual budgets from 2011 till date and copies of all reconciliation with NNPC as well as all the contracts awarded and names of contractors and details.
“If every agency keeps N501m every year, what is left,” Faleke demanded.
He therefore threatened to make recommendation for the sack of the PPPRA’ s Director of Finance, Mr Peter Joshua, who represented the Managing Director and Chief Executive Officer, for allegedly concealing facts and figures required by the committee in its investigation.
But in his submission, the Finance Director blamed the current situation to the inability to reconcile figures with the NNPC. He said that the NNPC was still indebted to his agency.