Energy

Stop Subsidizing PMS/Senate committee chairman

Meanwhile, the Senate yesterday lampooned the federal government, alleging that it was at the moment, subsidising the pump price of PMS, to measure up to N171 landing cost of the product per litre officially regulated at N145 per litre . Speaking yesterday, Chairman, Committee on Petroleum Resources ( Downstream), Senator Kabiru Marafa has however vowed that the Senate would stop the illegal subsidy regime which according to him was not in any way appropriated for . Senator Marafa who noted that the NNPC and other stakeholders in the sector will have to explain to Nigerians how they arrived at the alleged subsidy payment more than a year after its stoppage, said, “At our slated investigative public hearing on the sector next week Thursday, NNPC and other stakeholders should be prepared to explain to Nigerians who approved the subsidy for them and who appropriated it? “There is complacency in the sector and sharp practices that must be stopped. They want to take us back to subsidy regime that has never been beneficial to ordinary Nigerians across the country . We cannot go back to such scam called regime which robbed the country N10 trillion between 2006 and 2016.” Marafa who noted that transparency in governance which the government started with in 2015 must be strictly adhered to as far as sales and importation of fuel is concerned, said that while the previous government swaped exported crude for imported refined PMS, the present government has been using a more transparent model of direct sale of crude oil and direct purchase of refined product .

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