The House of Representatives on Thursday mandated Federal Government to forthwith suspend all Direct Sales Direct Purchase (DSDP) contracts sequel to the removal of fuel subsidy by President Bola Ahmed Tinubu’s administration.
This was part of the resolutions passed by the House after the consideration and adoption of the report/recommendations of the Ad-hoc Committee on the need to investigate the petroleum products subsidy regime in Nigeria’, chaired by Hon. Ibrahim Almustapha Aliyu.
The House also mandated authorities of Nigerian National Petroleum Corporation Limited (NNPCL) to act by the provision of the Petroleum Industry Act (PIA) to ensure that the country is not sur-changed in both production, lifting and sales of crude.
The lawmakers during the consideration of the report/recommendation urged President Tinubu’s administration through the office of Auditor General of the Federation (AGF) conduct a forensic audit of the sum of N413 billion allegedly borrowed from the Central Bank of Nigeria (CBN) for fuel subsidy payments and refunded after the passage and assent of the 2015 budget.
During the consideration of the report at the Committee of the Whole, the lawmakers urged Federal Government to “outrightly remove subsidies on all petroleum products.”
In the bid to cushion the effects of the subsidy removal, the House asked Federal Government to “immediately design measures and palliatives to cushion the effects of the subsidy removal for Nigerians effective from this year 2023 through the provision and procurement of CNG Busses as an alternative Transport System with Cheaper Fuel Consumption.
“The government should also introduce intermodal, regional and national transport systems to ease mass movement of people across the country.”
The lawmakers also stressed the need for Nigerian Midstream Down Stream Petroleum Regulatory Commission to issue stricter and most appropriate regulations as provided in the Petroleum Industry Act (PIA) with a view to ensure that Nigerians are not shortchanged through profiteering.
The House also tasked Revenue Mobilisation Allocation Committee (RMAC) to lead a reconciliation meeting between NNPCL, Federal Inland Revenue Service (FIRS) and Joint Venture Companies (JVCs) and the Commission on the utilization of their crude entitlements.
In line with the total deregulation of the sector, the House stressed the need for “all the agencies involved in crude lifting/security should have a representative with the Nigeria Navy as a lead agency to physically asses and document daily crude production and lifting.
In the same vein, the lawmakers urged Federal Government to liaise with the National Assembly to fashion out critical areas of economic development, in which the additional revenue from the proposed subsidy removal will be appropriately utilized.
The lawmakers also asked the Nigeria Customs Service (NCS) and the Weight and Measures Department of the Federal Ministry of Industry, Trade and Investment should be equipped to ascertain the actual daily crude oil lifting from the country for proper checks and balances.
Similarly, the House recommended that the NEITI Act, 2007 be amended by the National Assembly to be in tune with global best practices.
While acknowledging the constrain of the Committee and overlapping events, the House resolved that the National Assembly (House of Representatives) Standing or Ad-hoc Committees be saddled with such responsibility to conduct a full-scale investigation on the defaulting oil companies and MDAs that have not met the expectations of the Committee to ascertain their level of involvement or otherwise and further protect the commonwealth of the country.
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