Saturday, 15 February 2014
Governor of the central bank of Nigeria Mr Sanusi, speaking during a presentation at a hearing by the Senate Committee on Finance, said "Out of the $20 billion, there is $6 billion that NNPC says was shipped on behalf of Nigerian Petroleum Development Company (NPDC), there is $2 billion third party finance; that’s $8 billion and the balance of $12 billion from our books and even from the books of the NNPC submission, is what is outstanding from the domestic crude of the $28 billion that was exported by Nigerian Petroleum Development Company (NPDC)".
He went on to say that "as far as the Central Bank is concerned, the most important point to establish is that there is a difference of $20 billion between what NNPC shipped and what it repatriated", adding that "we raised observations based on some of these figures they have given.
"We did present documents from Petroleum Products Pricing Regulatory Agency and from the Presidency to indicate that in our view, there is no subsidy of kerosene, first of all, and that payment of kerosene subsidy is in violation of a waiting presidential directive” he said.
