3.5 C
New York
Friday, January 27, 2023

NNPCL remitted no kobo Federation Account since 2021 — El-rufai  –

Kaduna State Governor Nasir El-rufai said that since the last quarter of 2021, Nigerian National Petroleum Company Limited (NNPCL) has not sent a cent to federal accounts.

He made this announcement at the 12th Kaduna State Health Board meeting at Umaru Musa Yar’adua Hall, Muhammad Square, Murtala, Kaduna on Tuesday.

The federal government and the states have been relying on import duties and taxes for the past two or three years, he said.

Also read: FG mandates 2023, OPEC chair attracts investment in oil, gas sector

So, he was quick to add what is the wisdom behind spending N6 trillion on subsidies when the entire health budget of the federal government and all 36 states in the federation is less than a trillion naira.

Elrufai also pointed out that we spend 300 billion naira a year to subsidize electricity that we barely get.

According to him, the country needs to come out of the woods and know what it wants, saying, “NNPCL has not sent a penny to the federal account since the last quarter of 2021 because they are paying the subsidy.

“We only rely on import duties and taxes. This year, the federal government will spend N6 trillion on fuel subsidies, which is a quarter of the budget. That’s more than the entire health budget of the state and local governments this year.

“We spend N300 billion a year subsidizing our hard-to-get electricity. We subsidize 50% of our electricity supply. We have an exchange rate of 400 naira to 1 dollar, but if you want to buy dollars at Hamdala Hotel across the road, you need 700 naira pull.

“Some people will buy for N400 and sell for N700, costing us about N4 trillion a year, which is one-sixth of the entire budget and more than the entire education budget.

He used Kaduna as an example, “There are 2 million people employed in Kaduna, 100,000 of them are civil servants. If we ask them to pay N10,000 per month or N100,000 per year, we will raise N200 billion as an internal generated revenue, which exceeds our capital budget for the year.

But he said, “No one wants to pay taxes, even if we ask people to pay a tax of 1,000 naira, no one will. As a country and a people, we must make a choice and stop hypocrisy.”

Related Articles


Please enter your comment!
Please enter your name here

- Advertisement -

Latest Articles