Abuja - The Senate has rejected a recommendation by its Committee on Finance, which asked the federal government to remove the subsidy on petroleum products.
In opposing the removal, they said fuel subsidy was the only benefit accruable to ordinary citizens, reports New Telegraph.
Rather than abolish the subsidy, the senators want the government to ensure adequate punishment for those defrauding the nation under the guise of the fuel subsidy regime.
The finance committee, which investigated the alleged unremitted $49.8 billion from oil sale proceeds by the Nigerian National Petroleum Corporation (NNPC), had recommended the removal of subsidy on fuel because of the alleged misapplication of the billions of dollars being voted annually for that purpose.
Read more at New Telegraph.
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