THE House of Representatives is asking the Federal Government to remove subsidies on all petroleum products.
The House made this resolution after adopting the report of its ad-hoc committee which investigated the country’s subsidy regime.
The lawmakers, however, want the FG to immediately design measures and palliatives to cushion the effects of the subsidy removal for Nigerians effectively through the provision and procurement of CNG Busses as an alternative Transport System with Cheaper Fuel Consumption, as well as introduce intermodal, regional and national transport system to ease mass movement of people across the country.
The legislators also called for further investigation through a forensic audit by the office of the Auditor General of the Federation to ascertain whether the N413billion borrowed from the CBN for subsidy payments was refunded after the passage and assent of the 2015 budget as earlier approved by the President.
And following the subsidy removal, the lower chamber further wants the government to suspend all Direct Sales Direct Purchase (DSDP) contracts.
