Reps Probe ₦432bn NMDPRA Debt, Summon Oil Firms
By Oluwakemi Kindness The House of Representatives has launched an investigation into ₦432.07 billion in outstanding obligations owed to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) by oil companies and other entities. The probe is being conducted by the House Public Accounts Committee (PAC), following concerns raised in the Auditor-General’s annual reports over […]
RMAFC: Nigeria Spent N1.16tn on Fuel Subsidy in 2021
By Anayo Akwitti The Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Dr Mohammed Bello Shehu, says Nigeria spent N1.16 trillion on fuel subsidy in 2021, while N1.20 trillion was deducted from the Federation’s crude oil sales proceeds during the same period. Shehu disclosed this on Thursday while appearing before the Senate Public […]
Senate Grills NNPCL Chiefs Over Unaccounted N210trn
By Anayo Akwitti Nigeria’s Senate Committee on Public Accounts has intensified its probe into the Nigerian National Petroleum Company Limited (NNPCL), summoning top officials over an alleged unaccounted N210 trillion flagged in audit reports spanning 2017 to 2023. At a tense session on Wednesday, the committee—chaired by Aliyu Wadada Ahmed—warned that it would issue a […]