By Miracle Ogunde
The House of Representatives Committee on Finance on the Medium Term Expenditure Framework, MTEF has submitted a recommendation to probe the alleged non-remittance of N8.8 trillion under the petroleum scheme to the house.
The report, submitted and considered by the House Committee of Supply, stated that the Revenue Mobilization, Allocation and Fiscal Responsibility Commission alleged that the NNPC Limited withheld N8.8 trillion dividend due to the federation as payment for petroleum subsidy.
The Committee also raised alarm over the $2 billion flagged NEITI report.
The recommendation was contained in a report submitted by the committee on Wednesday during plenary.
“The Committees on Finance, Petroleum Upstream, and Petroleum Downstream are tasked to investigate reports from the Revenue Mobilization, Allocation, and Fiscal Responsibility Commission alleging that the NNPC withheld ₦8.48 trillion as claimed subsidies for petrol.
“Additionally, the investigation will address the NEITI report stating that NNPC failed to remit $2 billion, ₦3.6trn in taxes to the Federal Government,” the report stated.
Also, the committees were further directed to verify the total cumulative amount of unremitted revenue (under-recovery) from the sale of Premium Motor Spirit (PMS) by the NNPC between 2020 and 2023.
It would be recalled that President Bola Tinubu sent the 2025-2027 MTEF to the National Assembly for assent last week Tuesday.
The report was considered by the House and passed.
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