(Last Updated On: March 1, 2017)

By Gbenga Gbelee


The upper chamber of the National assembly has alleged corruption in the marketing of

products and in accounts operated by the Nigerian National Petroleum Corporation, NNPC,

in the last one decade.

The Senate has mandated its committee on petroleum (downstream) to commence full scale

investigation into the activities and transactions of the NNPC especially its accounts relating

to fuel subsidy and alleged abuse of product marketing and distribution.

The Senate’s resolution followed a motion by Senator Dino Melaye (APC-Kogi West) who

expressed worry over what he called persistent corruption in the NNPC despite the anti-

corruption posture of the President Muhammadu Buhari led administration.

Sen. Melaye said independent marketers account for 49 per cent of petroleum products

imported into the country while the NNPC accounts for 51 per cent of imported products, the

record which he claims does not justify the huge amount it has paid as subsidy in the last


The senator added that excess products were sold off illegally to private tank owners; an act

which he said rips off the public and enriches few persons at the expense of the masses.

Sen. Melaye insisted that since the current administration clamped down on subsidy, NNPC

has been solely responsible for retail with companies paying 20-25 naira for the sale of crude

products which amounts to over N2 billion naira monthly.

The huge resources according to the senate are not accounted for and might be the reason

why foreign currencies are being unearthed from graves, caskets, in uncompleted buildings

in remote villages and in other indecent places unfit and awkward for financial storage.