‘Your Waffling Is Disingenuous’ – Waziri Adio Criticizes NNPC Over Subsidy Denial

The former Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Waiziri Adio, has urged the Nigerian National Petroleum Corporation Limited (NNPCL) to be transparent in its dealings.

He stated this while reacting to NNPC’s response to reports that President Bola Tinubu had approved payment for subsidy.

Ireporteronline reports that Tinubu had directed NNPC to utilise the 2023 final dividends due to the federation account to pay for subsidy.

However, the Chief Financial Officer (CFO) of the NNPCL, Umar Ajiya denied the reports, insisting that the oil firm is only bearing what he called the “shortfall” and not subsidy.

Reacting to the development via a series of tweets on Tuesday, Adio wondered why NNPC was playing with words.

He wrote, “NNPCL’s waffling on petrol subsidy is so disingenuous. Oh, it is not subsidy, but a shortfall/PMS fx differential. Same difference. No subsidy was paid to any marketer. Has anyone said NNPCL paid subsidy to marketers and is it even within their remit to pay subsidy to marketers?

“Former PPPRA was charged with approving subsidy for marketers and NNPC. Ministry of Finance was paying marketers after verification of claims. Only difference with NNPC was that it deducted its subsidy and other claims from money for crude given to it for domestic use (DCA).

“It is not NNPCL’s responsibility, by practice or by law, to pay subsidy to marketers. That answer to a question not asked is at best a hollow attempt at deflection.”