Three Myths About Subsidy Removal PremiumTimesng: Nigeria
More than 11 years ago, they prosecuted a vigorous case against the removal. Today, that Opposition, now in government, has implemented the measure which they opposed. The case they now make against the subsidy and for its removal is situational: that it is no longer sustainable.
After the government removed the subsidy in 2012, the House of Representatives then constituted an ad-hoccommittee"to Verify and Determine the Actual Subsidy Requirements and Monitor the Implementation of the Subsidy Regime in Nigeria", which was chaired by Honorable Farouk Lawan.
Even more specifically, the committee found that"while NNPC feasted on the Federation Account to bloat the subsidy payable, some of the marketers were involved in claiming subsidy on products not supplied. PPPRA laid this foundation by allocating volumes of products each quarter to the marketers which it knew were not in conformity with its own guidelines for participation."
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