President Muhammadu Buhari has been advised to support the Federal House of Representatives against the recurrent challenges of corrupt practices and misappropriation of fund by the authority of the Petroleum Products Pricing and Regulatory Agency (PPPRA) in line with the mandate of the current administration.
The Social Integrity Network (SINET) in a statement signed by its National Coordinator, Mallam Ibrahim Isah, on Wednesday said, “It is saddening that the Executive Secretary of the agency, Mr. AbdulKadir Seidu, as alleged by the Federal House of Representatives’ Committee on Finance led by Hon. James Faleke, failed to remit generated revenue from 2014 to 2019. After his refusal to honour the lawmakers’ invitations on two different occasions.”
The group also urged the federal government to consider the removal of fuel subsidy as a necessary measure for the nation at the present period of economic woes in order to avoid high rate of national revenue loss “subsidy is a serious leakage and threat to our economic growth and development.”
He said: “If the federal government can consider removal of subsidy on fuel along with the ongoing border closure policy, crashing of high rate of Treasury bill without taxation and increase of Value Added Tax, (VAT) to 7.5 percent, this will serve as strong economic tools for the overhauling of the nation’s economic which will further boost the actualization execution of infrastructural facilities, payment of the minimum wage of workers funding of health sector among other positive impacts in the society.
“The House Committee on Finance had threatened early last month to effect the removal of the General Manager of Finance at the Petroleum Product Pricing Regulatory Agency, PPPRA, Mr. Peter Joshua, over alleged diversion of over N13 billion of funds generated from operations of the agency in 2014.
“This is a clear indication that there is high rate of corrupt practices, conspiracy and maladministration in the land which is having adverse effects on the nation’s economy, wellbeing of the masses as well as denting the image of the country in the international realm.”
SINET added that, “It was obvious that the Executive Secretary, Mr. Tony Okonkwo, chose to ignore the lawmakers’ invitation on two different occasions owing to the magnitude of the fraud that has been
perpetrated in his agency which he could not stand out to defend. Unfortunately, this act occurred within the annal of President Muhammadu Buhari’s administration despite his serious campaigns against corruption.
“However, in as much as it is pertinent for government to protect the sanctity of the right of Tax Payers by guarding against revenue loss, oligarchy tendencies, fraud of all manners and economic sabotage, President Muhammadu Buhari should urgently make an executive order for the removal of fuel subsidy and probe the activities of the PPPRA from 2014 to date and mete appropriate sanctions on culprits. The nation is already at the mercies of some few privileged individuals who are syphoning our commonwealth.”
The statement further reads: “There is also need for extensive investigation into the details of the volume of petroleum exportation into Nigeria, country of origin, cost of freight, mark-up margin as well as inflow projections for the nation for the years under investigation.
“Removal of subsidy will assist Nigeria in no-small measure at this auspicious period of global economic woes. Such money can be used to fund education, health and other infrastructural projects and programmes nationwide. We hereby urge the National Assembly to ensure that the embattled Executive Secretary is compel to appear with detailed statements of account, outstanding indebtedness, annual budgets, from 2011 to date and copies of all reconciliation with NNPC as well as all the contracts awarded and names of contractors and details to date.
“No political appointee is more powerful than the national assembly which is a true reflection of the entire national population with genuine representation. We urge President Buhari to support the Central Bank of Nigeria (CBN) in its ongoing intervention in manufacturing and agriculture which are the major proponents of job creation and economic growth and development for the country.
“We also thank the president for his commitment and concern towards revamping the economic activities for the benefit of the masses despite efforts by some unpatriotic elements to dent the image of the country through their selfish motive on wrong speculation.”
