4trillion To Federation Account – Revenue Commission, RMAFCThe Chairman of the commission, Mohammed Shehu, in a statement in Abuja, said that the subsidy regime was not transparent.The Revenue Mobilisation Allocation and Fiscal Commission, RMAFC has disclosed that the Nigeria National Petroleum Company Limited withheld the sum of N8.480trillion meant for the Federation Account, as petrol subsidy, between January last year and now.
According to him, “It is saddening to note that since 1st January, 2022 to date, the Nigeria National Petroleum Company Limited has not been contributing to the Federation Account due to the claimed subsidy payments. According to Vanguard, Shehu said that the removal of fuel subsidies would eliminate the alleged uncertainty surrounding the subsidy regime and free funds for the execution of critical national development and human capital enhancement projects.
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