L
LequteMan
Guest
FCT- The Vice-Chairman, Senate Committee on Appropriation, Sen. Sunny Ugbuoji, when speaking with newsmen in Abuja on Monday says that the outcome of ongoing Senate investigation into kerosene subsidy will determine the future of subsidies on petroleum products in the country.
He added that the investigation would show whether the Nigerian masses actually benefited from subsidies on petroleum products.
According to him, “the whopping funds” being expended on subsidising petroleum products would have served better purpose if they were channelled into critical sectors of the nation’s economy.
"That should not be and that would not be allowed to continue. This also will give us the opportunity to decide if we truly still need subsidy or not.
"As it stands today, what is being spent on subsidy on petroleum in Nigeria is more than the capital budget of the country.
"No wonder, the economy is not being stimulated. The masses that actually need this subsidy don't benefit from it.
"This is because some few individuals corner this money (subsidies) and use it for their personal gains," he said.
The Ebonyi (PDP) lawmaker also observed that the spate of defections by members of the National Assembly was part of democracy, so long as it was done in accordance with the law.
He urged some members of the National Assembly who want to defect to other parties to adhere strictly to the provisions of the Constitution which they swore to uphold at all times.
However, he believes that there would be more defections as the primaries approach because many politicians would be seeking platforms to get nomination for elective offices.
He added that the investigation would show whether the Nigerian masses actually benefited from subsidies on petroleum products.
According to him, “the whopping funds” being expended on subsidising petroleum products would have served better purpose if they were channelled into critical sectors of the nation’s economy.
"That should not be and that would not be allowed to continue. This also will give us the opportunity to decide if we truly still need subsidy or not.
"As it stands today, what is being spent on subsidy on petroleum in Nigeria is more than the capital budget of the country.
"No wonder, the economy is not being stimulated. The masses that actually need this subsidy don't benefit from it.
"This is because some few individuals corner this money (subsidies) and use it for their personal gains," he said.
The Ebonyi (PDP) lawmaker also observed that the spate of defections by members of the National Assembly was part of democracy, so long as it was done in accordance with the law.
He urged some members of the National Assembly who want to defect to other parties to adhere strictly to the provisions of the Constitution which they swore to uphold at all times.
However, he believes that there would be more defections as the primaries approach because many politicians would be seeking platforms to get nomination for elective offices.
