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Senate Rejects Removal Of Oil Subsidy, But Gives Reasons

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Senate Rejects Removal Of Oil Subsidy, But Gives Reasons

Senate President David Mark

Senate President David Mark

According to report Federal Government of Nigeria, is about to remove subsidy on petroleum products.

On Jan 1, 2012, Federal Government of Nigeria, under the leadership of President Ebele Jonathan, remove subsidy on petroleum products by increasing the price of Petrol from #65 to #140, but millions of Nigeria disagree with that approached from federal government and later reach agreement of selling #97 per liter in pump price .

The Senate, on Thursday, unanimously rejected the recommendation of its Committee on Finance, which asked the Federal Government to remove the subsidy on petroleum products.  “If subsidy has to be removed, there must be public enlightenment and education so that facts would be made available to the people and then public opinion at the end of the day will count.

“If we sit here now and said remove subsidy, I think those who are benefitting from subsidy are very powerful and tomorrow they would influence media report and twist it to create an impression that the Senate is anti-people,” President of the Senate said in his remarks after the Senate had rejected the proposal for subsidy removal.

The finance committee had recommended the removal of subsidy on fuel because of the alleged misapplication of the billions of dollars being voted annually for that purpose.

For me i don’t agree with this cheap excuses from senate members, they also benefit from this subsidy removal by federal government.  Share you though on this issue.

Edited Culled from Punch.

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