The Petroleum Products Pricing Regulatory Agency (PPPRA) has debunked allegations levelled against it in the media, following the House of Representatives Ad- Hoc Committee report on subsidy regime in Nigeria, saying it did not pay N312 billion to itself.
In a statement from the agency, it emphasised that the payment of N999 million was made to identified marketers and not to unknown entities, as claimed by the report.
With regards to the allegation that it paid itself the sum of N312 billion, the agency noted that the said amount was subsidy and other payments, including Forex differential and interest on late payment of subsidy, approved by government, based on the report of the Federal Ministry of Finance appointed auditor. It said such payments were legally made through the e-payment.
“From the available information to the Agency which was equally provided to the Ad-Hoc Committee, the sum of money described by the media as administrative charge is wrong.
The amount is subsidy and other payments -Forex differential and interest on late payment of subsidy- approved by government based on the report of the Federal Ministry of Finance appointed Auditor using e-payment,” said the Agency.
PPPRA further disputed the report that it did not provide reliable information data base for verifying and tracking all transactions under its scheme, stressing that such information was misleading, as there has always been an efficient data device as required.