Nigeria must take decision on fuel subsidy, says Mark

Senate President David Mark has said that the nation must make a decision now whether to continue with fuel subsidy or stop it if the Federal Government is unable to stop the high level of corruption being perpetrated under the scheme.

 Mark said this on Thursday as the Senate passed the supplementary appropriation bill of N161.6 billion. The amount will serve as payment for fuel subsidy to oil marketers for 2012.
President Goodluck Jonathan had on Tuesday sent a request to the National Assembly to approve an additional N161.6 billion to ensure steady supply of petroleum products during the festive season.
The Senate president decried the high level of corruption being perpetrated under the fuel subsidy scheme.

He urged the Federal Government to stop the fuel subsidy if it was unable to stop the high level of corruption being perpetrated under the scheme.
“It is not a secret anymore that there is so much corruption in the fuel subsidy industry in whatever system they are adopting.
“The nation must make a decision now, whether to continue this or to stop it. The nation must make that decision sooner than later because we cannot carry on this way.
“If they can’t eliminate and stop the corruption in the system, then, the other alternative will be to stop the whole exercise of the fuel subsidy.
“We must take the one that is easier and the one that will bring less pain to Nigerians”, he said.
Mark commended the lawmakers for supporting the quick passage of the supplementary appropriation, in the interest of the masses.
He said the proposal should have been forwarded in good time to alleviate the suffering of Nigerians.
“They should have anticipated that there was going to be a shortfall when they first made this presentation at the beginning of the year.
“That did not happen. We are now shouldered with the responsibility of this additional approval.
“We have done so in the best interest of this country”, Mark added.
The approval followed a motion by the Senate deputy leader, Abdul Ningi, that the supplementary budget be given accelerated passage “in view of the emergency nature of the bill”.
All the senators expressed support for the passage of the bill, saying that it would alleviate the suffering of Nigerians, ensure peace and stability of the nation.
Smart Adeyemi faulted the national economic team for the delay in the presentation of its request for additional funds.
He, however, said, “As representatives of the people, we have to support this request because it would improve the wellbeing of the masses”.

Source: BusinessDay