Nigerian Governors perfect plans to fleece hapless fuel consumers

the states and federal government, however, the Nigerian National Petroleum Committee, NNPC which is the largest contributor to the account had recently backed down from remittances.

State oil company, NNPC had said it would not make any remittance into the account for the month of April and May due to fuel subsidy payments, adding that it would be able to remit only N12.966bn into the account for June.

The Nigeria Customs Service and the Federal Inland Revenue Service are also contributors into the FAAC.

The report by the 6-man committee also recommended that the federal government should buy 113 buses to be distributed among the states, to cushion the effects of the price increase.

According to a report by a national daily newspaper, the committee was set up early this year by the National Economic Council, NEC headed by Vice President Yemi Osinbajo to look into the falling revenues of states and make recommendations to the council.

Apart from el-Rufai, Governors Godwin Obaseki of Edo State, Kayode Fayemi of Ekiti State; and David Umahi of Ebonyi State are also members of the committee.

Other members of the committee are Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, and the Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari.

The four governors, who are members of the committee, presented its report to their colleagues, who endorsed it, although it is subject to final approval by NEC which will also meet today.

In a communiqué released after the meeting last night, the governors disclosed that el-Rufai gave a briefing on the appropriate pricing of petrol in Nigeria, where he called for full deregulation.