By Celestine Okafor
Senate has rejected a recommendation, which asked the Federal Government for subsidy removal on petroleum products because of alleged misapplication of huge funds being voted annually for the scheme.
The recommendation was thrown out by the Senate on Thursday while adopting the report of its Committee on Finance, which investigated the alleged unremitted $49.8b by the Nigerian National Petroleum Corporation (NNPC).
Senate also approved the committee’s recommendation that NNPC should refund to the Federation Account, $218,069,354.32 being the balance of the gross lifting under the third party financing.
The committee was chaired by former Kaduna State Governor, Ahmed Makarfi.
Read more here.