Senate panel asks PPPRA to pay N634b to FERMA

The Senate Committee on Works yesterday asked the Petroleum Products Prices Regulatory Agency (PPPRA) to pay the sum of N634 billion to the Federal Roads Maintenance Agency (FERMA).

The money, according to the committee, was the total amount of money that had accumulated from what the PPPRA ‎failed to remit to the FERMA in compliance with the law since 2007.

The committee at a meeting with officials of agencies with roles in the development sector noted that for many years, the PPPRA had not been remitting funds to the FERMA in such terms as dictated by law.

Chairman of the Committee, Kabiru Gaya said: “From the rough calculation, FERMA is requesting PPPRA to refund N634.8 billion. This amount is twice Ministry of Works budget for this year. So, it should be mandatory for PPPRA to refund the money or we will get a consultant to give us the exact figure because I know the figure will be more than this.”
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