Your 3 years revenue is constant, Reps tell PPRA

The House of Representatives Committee on Finance has dismissed the report of the Petroleum  Products Regulatory Agency PPRA on the agency’s template for revenue generation on the sales of petroleum products by government agencies in the country for three years (2019-2021).

Chairman of the House Committee Hon. James Faleke and other committee members who dismissed the report at an interactive session with the agency’s officials said that the PPRA’s revenue generation from 2018-2020 is constant.

The lawmakers had queried the PPRA’s Director of Finance and Accounts Mr Kimshi Apollo on the revenue profile of the agency at the Medium Term Expenditure Framework MTEF and Fiscal Strategies Paper FSP session at the National Assembly Complex Abuja.

Faleke said:”why is it the same figure every year. How do you arrive at the actual account?.

“The biggest problem we ‘ve is that the 2018, 2019 and 2020 revenues are the same volume”

Responding,  the DFA said that 2.5  million liters per day was the actual figure for 2021.

” We ‘ve the actual collections here. But we can bring the actual discharge tommorrw sir” he said.

On how they arrived at the figure,  he said that they started calculating the actuals from N1.23 k per litter of fuel from July,  2021 and 10k for other products.

Non the less, the Committee helmsman insisted that the agency doesn’t not ‘ve records of all of its transactions.

A document submitted to the committee had revealed that it generated 61.92 in January 2021, 58.09 in February 2021, 66.64 in March 2021, 65.59 in April 2021, 62.88 in May 2021, 62.14 in June 2021 and 58.02 million liters in July 2021

It also shows that the avarege daily truck output in millions of liters are 59.90 in 2019, 60.27 in 2020 and 61.92 in 2021.

The lawmaker had told the agency official saying, “tell us that the documents are not correct so that we can move forward”

Consequently, the PPRA official immediately requested that the committee gives the agency a new date of Wednesday August 25, 2021 to represent its documents on revenues it generated from the sale of petroleum products by government agencies in the last three years.