PUNCH
*NNPC AUDIT REPORT EXPOSES DOUBLE SUBSIDY PAYMENTS
PricewaterhouseCoopers,
the firm of forensic auditors hired by the Federal Government to probe
the Nigerian National Petroleum Corporation, has indicted the
corporation of making double subsidy claims on petrol and kerosene.
“Our
examination of the PMS and DPK import verified by PPPRA revealed that
some discharges were apparently verified and subsidy advised to NNPC
more than once,” the report stated.
PwC
alleged “repeated subsidy” for PMS amounting to N3,709,879,190
($23,954,796) and another “repeated subsidy” for DPK amounting to
N6,169,502,266 ($39,836,652). It added that the there was another
$36.05m “over-statement” in PPPRA’s PMS subsidy payment advice to the
NNPC.
It also
called for a review of the current NNPC Act to make it pay all revenues
accruing from crude oil sales into the Federation Account.
In the
final report made available by the government on Monday, the auditors
said the the corporation over-claimed $980m (N19.3bn based on the
interbank exchange rate of N197 to a dollar) as subsidy on Premium Motor
Spirit and Dual Purpose Kerosene between January 2012 and July 2013.
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THIS DAY
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THE NATION
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