Budgit alleges lack of transparency accountability for n1 4tr subsidy
It seems like you're referring to a news article or a statement made by Budgit, a non-governmental organization (NGO) that focuses on budget and governance issues in Nigeria.
From what I understand, Budgit is alleging that the Nigerian National Petroleum Corporation (NNPC) lacks transparency and accountability in the management of the N1.4 trillion subsidy paid to oil marketers in 2020.
Here's a breakdown of the issue:
- The Nigerian government pays a subsidy to oil marketers to ensure that petroleum products are sold at a regulated price to the public.
- In 2020, the government paid a total of N1.4 trillion as subsidy to oil marketers.
- Budgit is accusing NNPC of lacking transparency and accountability in the management of this subsidy fund.
- The NGO is calling for greater transparency in the allocation and utilization of the subsidy fund, as well as the implementation of measures to prevent corruption and mismanagement.
Some of the specific allegations made by Budgit include:
- Lack of clear and detailed information on the allocation and utilization of the subsidy fund.
- Inadequate tracking and monitoring of the subsidy payments to oil marketers.
- Failure to publish the names of oil marketers that received subsidy payments.
- Lack of transparency in the calculation of the subsidy amount.
Budgit is urging the government to take steps to address these concerns and ensure that the subsidy fund is managed in a transparent and accountable manner. This includes publishing detailed information on the allocation and utilization of the fund, as well as implementing measures to prevent corruption and mismanagement.
It's worth noting that the Nigerian government has been criticized in the past for its handling of the subsidy fund, with allegations of corruption and mismanagement. The government has also been accused of using the subsidy fund to benefit certain individuals or groups at the expense of the general public.
Overall, the issue of transparency and accountability in the management of the subsidy fund is a critical one, and it's essential that the government takes steps to address these concerns and ensure that the fund is used in a responsible and transparent manner.