100 days after: Subsidy probe panel releases report

[DT]

After several delays the Farouk Lawan led House of Representatives Ad-Hoc Committee on probe of the federal government's petroleum subsidy Regime presented its report to the lower House today.

The House will debate the report on April 24, 2012. According to the Speaker of the House, Hon. Aminu Waziri Tambuwal, there will be live coverage of the proceedings at the debate. The committee had commenced work on January 8, 2012 in the wake of protests that greeted the Federal Government's removal of fuel subsidies on January 1, 2012.

Senior government officials and fuel marketers affected by the report reportedly mounted intense pressure on the House to delay the report, which will recommend that importers be made to refund billions improperly collected from the government in the name of subsidies.

Some highlights of the report are said to include the recommendation for prosecution of several other top figures in the Petroleum ministry, the Nigeria National Petroleum Corporation (NNPC) as well as the PPPRA. The report also recommended the refund of monies running into trillions of Naira by the NNPC and several oil companies to the federation account.

The report also recommended the un-bundling if the NNPC.

More details of the contents of the report in Daily Trust tomorrow...

Daily Trust