The return of queues at filling stations and the reported importation of bad fuel into Nigeria is top on the agenda of the federal Executive Council, a meeting being presided over by President Muhammadu Buhari
Businessday gathered that President Buhari who is visibly upset at the importation of about 400 million liters of contaminated fuel with higher sulphur content in six containers, has ordered investigation into the matter, which may affect top management of the Nigerian National Petroleum Corporation NNPC.
It was also gathered that the government will not spare those involved in the bad fuel imports.
The virtual meeting which has some key Ministers in attendance, is also being attended by Yemi Osinbajo, the vice-president; Rauf Aregbesola, minister of Interior and Boss Mustapha, secretary to the government of the federation.
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It was also gathered on Wednesday that the Minister of State for Petroleum Resources Timipre Sylva was specifically invited to the meeting over the matter.
Both the minister of State for Petroleum Resources and minister of Finance, Budget and National Planning Zainab Ahmed, are expected to brief the Council over the matter.
A cabinet office source informed Businessday that FEC will also receive briefing on the PIA amendment Bill scheduled to go to the National Assembly any moment.
The Bill is expected to address the issues of provisions of N3 trillion for the fuel subsidy for the 2022 fiscal year which was not originally provided for under the 2022 budget.
The federal government had last week insisted that the subsidy regime, which should have elapsed with the coming into effect of the PIA on 16th of February, 2022, will continue for the next 18 months and that provisions will be made for subsidy projected to cost the government N150 billion monthly.
