Total fails to explain N2bn subsidy overpayment

The ongoing subsidy probe has revealed that that Total Nigeria Plc. received excess subsidy claims of N2.7bn in 2011.

The House of Representatives Ad- hoc Committee investigating the Subsidy Regime on Wednesday produced records indicating that Total Nigeria Plc received excess subsidy claims of N2.7bn in 2011.

The Managing Director of Total, Mr. Guy Maurice, had consistently argued that the firm had never been overpaid by the Petroleum Products Pricing Regulatory Agency (PPPRA).

“It is not possible that Total would ever have been overpaid. The money would have been returned if it ever happened,” the MD insisted.

Mr. Maurice said that his company supplied 211 million litres of petrol to the Nigerian market last year and the value of subsidy claimed was N16.1bn.

However, records provided by the office of the Accountant- General of the Federation showed that Total actually received N18. 8bn for the 211 million litres of petrol supplied.

Mr. John Enoh, A member of the committee and Chairman, House Committee on Appropriation, stated that unless Total produced superior evidence to counter the AGF’s, the panel would have to recommend a refund of the N2.7bn to the Federal Government.

Mr. Maurice still refuted the overpayment after the documents were tendered. He later admitted “not being sure” over the matter and said he would refer the figure to the company’s Finance department and report back to the committee.

Jackson Ibanga, general manager, operations of the Total, informed the committee that they had received over-payment in some instances but have always returned such payments to the PPPRA but assured the committee that they will avail the panel with all necessary information.

7 Comments

  • Can you imagine that. People had been saying there is no oil subsidy. What government is subsidising for is CORRUPTION. Period. This government is not sincere. It is a govt of deceipts. Let lie runs for 20 years, it will only takes 1 day for the truth to overtake it, says an adage.

  • Is it not rediculous, look at the PPPRA that will come out to tell the whole world that the cost of fuel is being subsidized by Gov. over paying a company to the tune of over 2bn, madam world bank is there and Sanusi who said economy will collapsed if feul sub. is not removed are all asleep. You people should rember that God is watching and you will be visited with his anger if you continue to drain masses blood to make money into your pucket.

  • Stay united!! Quit blaming the foreigners!! Do not fall for the government’s tricks!! This headline is wrong and misleading. It is the government that cannot account for where these monies have been sent. It is the government which cannot produce proof of disbursement of hundreds of billions of naira to the companies. The government, the government, the government!!!!

  • We Nigerians are the cause of our problem, if only we (the masses) will stand, fight and protect our right as the pillar of this Nation then we will understand better what our leaders have in mind for us, few at the expence of many… May God help us especially the down trodden.

  • We Nigerians are the cause of our problem, if only we (the masses) will stand, fight and protect our right as the pillar of this Nation then we will understand better what our leaders have in mind for us, few at the expence of many… May God help us especially the down trodden. Comr. Emma

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