The House of Representatives is seeking the outright removal of the fuel subsidy regime.
OsunDaily News reports that the House made the resolution after adopting the report of its ad-hoc committee which investigated the country’s subsidy regime.
According to the lawmakers, it would be in the best interest of all if the Federal Government outrightly removes the subsidy.
However, the members want the Federal Government to immediately come up with measures to cushion the effect through palliatives.
It also advised the government to procure CNG buses as an alternative Transport System with Cheaper Fuel Consumption, as well as introduce intermodal, regional and national transport systems 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.
Furthermore, the lawmakers want the government to suspend all Direct Sales Direct Purchase (DSDP) contracts.
Recall that President Bola Tinubu had on Monday declared the end to the fuel subsidy regime while reading his inaugural address. A pronouncement that has aroused mixed reactions from various quarters.
