Senate disagrees with minister over N1.34 trillion on fuel subsidy

THE joint SenateCommittee investigating the operation of the fuel subsidy scheme, on Tuesday, rejected the position of the Minister of Petroleum Resources, Mrs Diezani Alison-Madueke, on how the cost of fuel subsidy jumped from N245.96 billion to N1.34 trillion within three years.The committee, which had its maiden sitting on Tuesday, could not accept the explanation of Alison-Madueke on who authorised the payment of N251 billion subsidy on kerosene when it was not budgeted for.The minister told the committee that there was nothing wrong with fuel subsidy, but that the management of the subsidy had failed.She, however, insisted that fuel subsidy must be removed, because the ordinary man did not enjoy derivable benefit.Alison-Madueke also said fuel subsidy was only beneficial to the upper and the middle classes, who were privileged to drive around in multiple cars and convoys, as against the masses with no benefit, noting that 'if removed, all Nigerians will see the benefit immediately.'After her explanations, chairman of the committee, Senator Magnus Abe, asked that 'the minister must return.'Abe said 'members are not satisfied with all your answers,' while advising her to devote time to study the trend of the work of the committee and return next week.
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