The Nigerian Senate has decided to initiate a probe into the expenses incurred by the federal government during a 30-month period under the petrol subsidy regime.

The resolution was reached during the plenary session on Tuesday, following a motion presented by Chiwuba Ndubueze, a representative of Imo North.

Ndubueze acknowledged President Bola Tinubu’s decision to remove petrol subsidy in May but emphasized the need for an investigation into the regime.

The motion, titled “Need to investigate the controversial huge expenditure on premium motor spirit (PMS) under the subsidy/recovery regime by the Nigerian National Petroleum Company Limited (NNPC),” shed light on significant expenditures made by NNPC, including a staggering N9.3 trillion claimed to have been spent between January 2021 and June 2023.

The Senate further resolved that its standing committees on petroleum (downstream), petroleum (upstream), and finance would conduct a comprehensive investigation into the subsidy and under-recovery regime.

Discussions during the session also touched upon the implementation of a living wage for workers and the establishment of functional refineries to lower pump prices.