The Senate Committee on Public Accounts said it had uncovered a N120 billion differential in subsidy payment to the Independent Petroleum Marketers Association of Nigeria (IPMAN) by the Petroleum Products Pricing Regulatory Agency (PPPRA).

Relying on the 2016 query raised by the Auditor-General of the Federation, Aghughu Adolphus, the lawmakers said the subsidy sum captured in the Federation Account Allocation Committee (FAAC) was N443 billion, whereas the record presented by the PPPRA read N563 billion.

During the meeting of the Senator Matthew Urhoghide-led panel in Abuja, the National President of IPMAN, Elder Chinedu Okoronkwo, told the legislators that his union has over 50,000 members across the federation, adding that they did not know the real beneficiaries of the N120 billion in question.

The committee, therefore, summoned the PPPRA to provide the list of beneficiaries to allow the association responds effectively to the issue raised in the query.