Senate Commences Hearing On Over N5 Trillion Oil Subsidy Fraud


The Nigerian Senate has announced that it has begun investigation into the massive fraud in subsidy payment to the tune of N5.1 trillion made from 2006 to 2016.

Declaring a public hearing open in Abuja, the Senate President, Dr Bukola Saraki, represented by the Senate majority leader, Ahmed Lawan, expressed concern over how some individuals hijacked the subsidy regime to enrich themselves.

He explained that anyone involved in such fraud will be exposed.

However, the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Alhaji Maikanti Baru, said at the hearing that the Federal Government still owed the corporation about N170 million as subsidy payment.

Chairman of Senate Committee on Petroleum Downstream, Senator Kabiru Marafa, said that the hearing is not to witchhunt anybody but to ensure transparency and due process.

Senator Marafa, however, expressed displeasure over the failure of the Minister of Finance, Mrs Kemi Adeosun’s failure to appear at the hearing.