APC Chieftain Condemns Buhari's N3.5tn Fuel Subsidy Request

Posted by Thandiubani on Fri 15th Apr, 2022 - tori.ng

His condemnation came ahead of senate approval of additional N3.557 trillion fuel subsidy money as requested by Buhari.

President Muhammadu Buhari's request for an additional N3.557 trillion for fuel subsidy has been condemned by Senate President, Ahmed Lawan, according to a report by Punch.

The report revealed that Lawan argued that the current N250 pump price of Premium Motor Spirit renders the presidential request ridiculously unacceptable.

His condemnation came ahead of senate approval of additional N3.557 trillion fuel subsidy money as requested by Buhari.

We had reported that Senate would, on Thursday, pass the revised 2022 fiscal framework before adjourning on the Easter break.

The hint was given by the Senate President, Ahmad Lawan after the report of the Committee on Finance was stepped down for consideration, a statement on Wednesday signed by Dr. Ezrel Tabiowo, Special Assistant (Press) to the Senate President, said.

Among other requests, Buhari had asked the chamber to approve an increase in the estimated provision for 2022 subsidy for PMS, also called petrol, by N3.557 trillion, from N442.72 billion to N4 trillion.

The request was contained in a letter dated April 5, 2022.

“My observation is that it’s better for Federal Government to remove fuel subsidy and use the money to improve the power supply in Nigeria.

“If with subsidy, people will still buy fuel in filling station at the rate of N250 per liter and also collect subsidy from Federal Government by marketers, that’s double profits and does not make sense.

“Federal Government should take over power stations from the private sector to give us light because we are paying bills every month without commensurate value.

“Giving electricity to the public is like automatically creating job opportunities for our youths in Nigeria. More so that the youths are now manufacturing electric cars and other devices in Nigeria,” Lawan said.