From Kemi Yesufu and Ndubisi Orji, Abuja
The House of Representatives Ad hoc Committee on the Reduction of Petroleum Pump Price, yesterday, said it will investigate subsidy claims by oil companies in the downstream sector to ascertain their genuineness.
Speaking during an investigative hearing held, yesterday, chairman of the committee, Raphael Nnanna-Igbokwe accused oil companies of jacking up figures as claims, hence, the need to take a second look at the payments made to the companies.
The Federal Government is estimated to be owing oil marketers N300 billion under the subsidy regime. The ad hoc committee chair also said his committee will unearth companies that have committed foreign exchange frauds.
Those who collected foreign exchange for the social intervention programme of government on petrol importation and used it for other purchases would be recommended for sanctions by the committee to the relevant security and anti-graft agencies, the lawmaker added.
“Some subsidy claims do not pass the integrity test, and we are querying all these claims,” Igbokwe said.
The lawmaker said after investigation of the claims, “we will recommend that the legitimate ones be paid and those that have been paid wrongly, we will recommend for refund.
“Huge claims are made on subsidy; some of the marketers sold the product beyond its approved official price, even with a margin greater than the subsidy. The implication of this is that they have already recouped, from the people, the subsidy element which they are on the other hand going to claim from the government.”