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Petroleum subsidy: committee not satisfied with minister’s explanations

by Business News Report

The Joint Senate Committee investigating the management of fuel subsidy has said it is not satisfied with explanations by the Minister of Petroleum Resources, Mrs Diezani Allision-Madueke. The Chairman of the Committee, Sen. Magnus Abe told newsmen that the committee had asked her to take another date to answer questions satisfactorily. “I think she needs to prepare better, I don’t think we got much from the minister (her) today. ’’Abe said the committee would adjourn the public hearing and continue on a date to be announced later to enable all the parties prepare adequately to answer all questions by members. The minister had been asked how the cost of fuel subsidy jumped from N245.96 billion to N1.34 trillion. She was also asked to explain who authorised the payment of N251 billion subsidy on kerosene when it was not budgeted for. The minister argued that fuel subsidy was only for the upper and the middle classes who drive around in multiple cars and convoys while the masses benefited nothing. “If subsidy is removed, all Nigerians will see the benefit immediately in the areas of development of infrastructure like roads, health, among others. ’’ The minister said the only thing

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