The House of Representatives yesterday resolved to set up an Ad hoc committee to investigate under remittance of about 100 billion Naira to the federation account by Nigerian National Petroleum Company (NNPC).
The committee is also expected to ascertain among others, the volume of oil production as against the projection in the budget, the exchange rate being used and cash flow from January to July 2018.
The resolution was sequel to a unanimous adoption of a motion under Matter of Urgent Public Importance by Rep. Nicholas Osai (PDP-Delta) at the plenary on Tuesday.
Moving the motion, Ossai said funds accrued to the Federation Account is usually shared between the Local, State and Federal Governments.
He said the Federation Account Allocation Committee (FAAC) monthly meeting did not hold in June due to under remittance of funds to the account to a tone of 400 million naira by the NNPC.
Osai said that it was not the first time NNPC was failing to remit funds accurately and that it was happening at a time when oil price was on the increase.
The lawmaker said it cannot be blamed on lack of funds alleging that some persons in the company were not doing their job.
He expressed worry as some states would not be able to pay salaries and allowances, hence delaying government activities.
In his contribution, Rep. Dennis Agbo (PDP-Enugu) alleged that the national fund was being appropriated by the NNPC.
He said that the NNPC was paying subsidy without appropriation as the landing cost of Premium Motor Spirit (PMS) was higher than the pump price.
According to him, the NNPC is making itself greater than government and we must put the highest pressure on them to do the right thing.
While urging his colleagues to support the motion, Agbo challenged states to look inward to generate funds to pay salaries.
Rep. Sergius Ogun (PDP-Edo) urged the house to expand the scope of the investigation as he described the NNPC as the “fat cow of the nation.”
He said that the company was poorly managed saying that he knew a lot that would put the company out of business.
However, Rep. Shehu Shagari (APC-Sokoto) said that he had seen several motions on the NNPC on the floor of the green chambers from 6th, 7th and now the 8th Assembly.
According to him, “I was a part of the committee that investigated the NNPC in the 6th Assembly, we discovered a lot of things, submitted our report and nothing happened.
“We must be prepared, the Chairman and indeed the members of the committee should watch themselves closely.
“Because the NNPC will come after you one by one and thereafter you will start talking from both sides of your mouth.
“If you are not ready, stay away from the Committee,” Shagari urged his colleagues.
The house unanimously supported the motion when it was put to a voice vote by the Speaker, Mr Yakubu Dogara.