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 The Nigerian National Petroleum Corporation, NNPC, under the watch of President Muhammadu Buhari who doubles as the Petroleum Minister, has said that the Corporation does not need the endorsement of the National Assembly to pay for fuel subsidy.
The Managing Director of the Petroleum Products Marketing Company, PPMC, Umar Ajiya, stated that the NNPC Act is a law on its own, which the Corporation implements with or without the National Assembly.
PPMC is a subsidiary of the NNPC ,which ensures among other things, the availability of petroleum products to sustain Nigeria’s industries.
Ajiya while featuring on a programme on Channels Television, on Friday morning, said the NNPC has the right to run its finances independently.
He admitted that the Corporation has been paying N26, due to differentials in landing cost and approved selling price, but declined to tag it as subsidy.
“For us, it is not a question of subsidy, we do not know about subsidy. It was not budgeted for, but the Act establishing us, the National Assembly knows clearly that in that same Act, there is a provision that we can run our operation and recover our cost fully.

“There is a difference between the landing cost and the price we are selling, but what we are saying is that it is part of our core structure.”
Ajiya advised the Lawmakers to channel their grievances in the right manner.
“The NNPC Act is a law in itself, and the National Assembly is the one responsible for enacting laws. So, if there is any remedy or solution; as one of the Senators, the issue is looked into the Act establishing these entities; NNPC, CBN etc.”
The PPMC boss attributed the recent fuel queues to the poor transportation system in the country, which has hampered smooth circulation of products, and dubious purchase in major cities.
He said: “For the last one week, there is no blessed day that trucks do not fall off the road between Jebba and Mokwa, and this is the link way where these products are brought from the depot, especially from the South to the North, especially Abuja.
“We had to mobilise to do palliative repairs and pull off the trucks, to ensure that trucks move. On top of that, the channels from which we transport these products from the ships offshore Lagos to Warri was blocked by another vessel. We equally have to mobilise together with the owner of the vessel to try to remove that ship. That channel has not been dredged for a long time.”

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