Fuel subsidy probe
Farouk Lawan: what is Nigeria’s daily fuel consumption?
Diezieni: 52million Liters
NNPC: 35m liters
DPR: 43m liters
PPPRA: 24M liters
… Okonjo: 40M liters
Farouk Lawan: What was the subsidy for 2011?
Farouk Lawan: Can we have the KPMG REPORT?
Okonjo: I have to go through the report first
Diezieni: I have not seen the report
Farouk Lawan: What is the production capacity of our local refineries?’
Farouk Lawan: Does Nigeria pay subsidy on locally refined Products?
Diezaini: it depends
NNPC: The lay man cannot understand how it’s done
Farouk Lawan: Why is Kerosene still scarce?
Diezieni: Because its use by the aviation industry as aviation fuel
NNPC: Because there is no subsidy so NNPC overstretched its resources
PPPRA: it’s not properly deregulated
Farouk Lawan: what is the balance in the subsidy accounts?
Diezieni: it’s a virtual account
NNPC: There is no account in existence as the lay man will look at it
PPPRA: The account is a technical one
CBN: There is no account with us for subsidy
Okonjo: The account exists but not with a bank.