13 October 2011
.Govt overshoots subsidy limit by N771b
NNPC, marketers get N165b in eight months
Labour says no deal with govt on subsidy
MAN lists benefits of deregulation
EMOTIONS ran high and the debate on the propriety or otherwise explosive. From the positions they canvassed, it was easy to see where the senators who contributed to the debate belonged on the planned removal of fuel subsidy by the Federal Government.
Senate President David Mark, who presided at the session yesterday, tried to keep the discourse on course. Occasionally, Mark would put off the micrphone from his table for some senators, who were taking the debate to the extreme.
The Senate admitted that a strong cartel was milking the nation dry of its hard-earned revenue through the fuel subsidy policy of the Federal Government.
It, therefore, directed the Senate Committees on Petroleum Resources (Downstream), Appropriation and Finance to investigate the fuel subsidy scheme.