REMOVE SUBSIDY TOTALLY

Heroshe-shop-in-the-us-from-nigeria-news-nigerian-newspapers-business-fuel-subsidy-nnpc.png
Heroshe-shop-in-the-us-from-nigeria-news-nigerian-newspapers-business-fuel-subsidy-nnpc-removal.png

A marketer of petroleum products based in Ilorin has asked the Federal Government to remove subsidy one and for all. This he said would checkmate those milking the nation dry all in the name of subsidy. He said the regime was doing more harm than good and should be scrapped so the nation will know what direction it's headed.

Alhaji Abdulkareem Sanni used the case of kerosene subsidy where unknown amounts have been spent without budgetary provision to backup his claim. He said only one truck of kerosene gets to Ilorin most times instead of the 30 to 40 trucks indicated on the books. This system, he said was unsustainable. How does one explain one truck reaching its destination instead of thirty huh? 

Read More: Fuel subsidy

FG OWES US N110 BILLION IN SUBSIDY CLAIMS

Heroshe-shop-in-the-us-from-nigeria-news-nigerian-newspapers-fuel-subsidy-claims-ministry-of-finance.png
Heroshe-shop-in-the-us-from-nigeria-news-nigerian-newspapers-fuel-subsidy-claims-ministry-of-finance-independent-petroleum-marketers-association.png

The Independent Petroleum Marketers Association of Nigeria has said the Federal Government owed its members over N110 billion in unpaid subsidy claims. The President, Alhaji Aminu Abdulkadir said though N41 billion was paid recently, it was from an outstanding debt of N151 billion.

The association had sometimes back claimed the Federal Government was owing its members unpaid claims dating back to nine months. The Ministry of Finance has however said it has started processing documents to pay the remaining debt. Is the subsidy regime actually sustainable? For how long?

Read More: Subsidy claims

N41 BILLION PAID TO 27 PETROL IMPORTERS

Heroshe-shop-in-the-us-from-nigeria-business-fuel-subsidy-payment-q3-q4-2013.JPG
Heroshe-shop-in-the-us-from-nigeria-business-fuel-subsidy-payment-q3-q4-2013-money-paid-finance-minister.jpg

Spokesperson for the Minister of Finance has said the ministry has paid twenty seven petrol importers whose claims have been verified by the ministry. The said amount was paid as subsidy claims over the products the marketers imported into the country.

It should be remembered the marketers claimed the refusal to pay subsidy claims for quarters three and four in 2013 is one of the key reasons for the prevalent fuel scarcity in the country. Now that the money is in, can we make the queues disappear now?  Why are we fooling ourselves?

Read More: Paid Petrol Importers

REMOVE SUBSIDY COMPLETELY

Heroshe-shop-in-the-us-from-nigeria-fuel-subsidy-removal-state-finance-commissioners-fraud-fuel-importers-goodluck-jonathan-fuel-subsidy-end-nigeria.gif
Heroshe-shop-in-the-us-from-nigeria-fuel-subsidy-removal-state-finance-commissioners-fraud-fuel-importers.jpg

The forums of state commissioners of finance of the 36 states have recommended the total removal of petroleum subsidy. Headed by the Ebonyi state commissioner, Mr Oddah, he said the scheme is wrecking the economies of the less industrialized states. He claims they consume less fuel so they feel the brunt more.

He also says the subsidy scheme is a scam as it was feeding the pockets of some people at the expense of Nigerians. The excess crude account has been depleted to pay subsidy claims as N917bn is budgeted for it in 2014. The APC has however distanced itself and its commissioners from such calls. The cabal never left then, Hmmmmn.....

Read More: Remove Fuel subsidy