The House of Representatives has summoned the Executive Secretary of Petroleum Product Pricing Regulatory Agency (PPPRA), Mr Abdukadir Saidu, to explain why about N1.62 billion revenue had not been remitted to the Federation Account.
The Chairman, House Committee on Finance, James Faleke, at an investigative hearing, said the committee needed to examine the agency’s financial records from 2012 till date.
Faleke said that the directive was necessary to enable the PPPRA boss give explicit explanation on the whereabouts of the N1.62 billion Internally Generated Revenue (IGR).
He also called on the agency to provide the identity of the person it loaned money to, adding that the committee needed the approval letter from the Accountant General’s office.
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Faleke stated that on no account shall any withdrawal be made from the revenue account, stressing that a peep into the constitution would provide a better understanding.
The lawmaker also demanded explanation on conflicting figures in the consumption of fuel in the country.
He added that NNPC was earlier quoted to have said that daily consumption of fuel was 93 million litres, while PPPRA had also said that daily consumption of fuel was 80 million litres per day.
