Former Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi, has faulted claims by the Nigerian National Petroleum Corporation (NNPC) Limited that Nigeria consumes about 66 million litres of Premium Motor Spirit (PMS) daily.
“NNPC tells us officially that we are consuming 66 million litres per day…We are consuming more than Indonesia, Pakistan, Egypt, Cote d’Ivoire and others,” Mr Sanusi queried at the seventh edition of KadInvest, an annual investment summit by Kaduna State.
Mr Sanusi faulted the NNPC claim that shows that Nigeria’s daily PMS consumption increased by 50 per cent in three years, asking if the claim makes any sense.
“In 2019 officially, we were importing 40 million litres per day. In 2022, officially, we are importing 66 million per day. In three years, we have increased our petrol consumption by 50%. Please tell me, is it the population? Is it the number of cars? Just ask yourself if it makes sense that in three years you increase your consumption of petrol by 50%,” he said.
Before now, Hameed Ali, Nigerian Customs Boss, had queried NNPC’s figure of how many litres of PMS is consumed in the country daily. However, the NNPC had stood by its figures of daily PMS consumption, saying its records are open for scrutiny.
Similarly, Kaduna State governor, Nasir El-Rufai, said “There is no reason why the Nigerian government should be in oil and gas. It has failed. By every measure it has failed.
He berated the NNPC’s failure to remit revenue into national coffers, alleging fraud in claims by the national oil company.
“These years, NNPC has not brought N20,000 to the federation account. We are living on taxes. It is PPT, royalties, income tax and VAT that is keeping this country going. Because NNPC claims subsidy has taken all oil revenues,” Mr El-rufai lamented.
Newswire Law and Events Magazine is Out. It's a collector's item. Get one - or two,or more - for yourself and loved ones.