Politics Fuel subsidy claims: PPPRA saves N409bn for FG- The Sun

The Petroleum Products Pricing and Regulatory Agency (PPPRA) has disclosed that it saved about N409 billion in subsidy claims in 2012 alone from reduction in volume from 60.25 million litres a day in 2011 to 39.66 million litres in 2012.

PPPRA Executive Secretary, Mr. Reginald Stanley, who spoke with newsmen in Abuja Sunday, said the agency has achieved up to 67 per cent reduction in the number of participants in the subsidy scheme, ensuring that only owners of downstream facilities participated in the scheme. He further slated that the efforts has resulted to a reduction from 128 marketers in 2011 to 38 marketers in 2012.

The PPPRA boss, however, dispelled media reports that the agency’s management was under investigation by the Independent Corrupt Practices and other Related Offences Commission (ICPC) over some perceived infractions.

Source: The Sun

see more at http://sunnewsonline.com/new/business/fuel-subsidy-claims-pppra-saves-n409bn-fg/

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