Senate threatens to compel Auditor-General as oil sector probe uncovers N1.16trn subsidy spend

Nigeria spent a staggering N1.16 trillion on fuel subsidy in 2021 alone, a Senate probe has revealed, alongside N1.20 trillion deducted from federation crude oil sales proceeds, N22.05 billion on pipeline repairs and N16.20 billion on crude oil losses.

As reported by The Guardian Nigeria, Revenue Mobilisation Allocation and Fiscal Commission Chairman Dr. Mohammed Bello Shehu made the disclosures before the Senate Public Accounts Committee examining NEITI audit reports for 2021–2023.

Shehu also faulted the computation of the constitutional 13 per cent derivation for oil-producing states, arguing the current deduction-first approach shortchanges beneficiary states.

The session turned tense when the Auditor-General of the Federation failed to appear or send a representative, prompting lawmakers to threaten compulsion. The NDDC’s submission was postponed to Wednesday.