Senate: N11tn Spent on Fuel Subsidy in Six Years


The Senate in session

  •  Approves N129.048bn for payment of 67 oil marketers
  • Holds valedictory session on June 6
  • Asks FG not to downgrade Enugu Airport
  • Leader accuses wealthy Nigerians of buying court judgments


Deji Elumoye in Abuja

The Senate Thursday disclosed that the federal government spent not less than N11 trillion on fuel subsidy in the last six years.
The Senate also approved the payment of N129,048,358,444.11 as final subsidy arrears payment to 67 oil marketing companies.
It also yesterday adjourned sitting till June 6 when the National Assembly is billed to hold its valedictory session.

The Senate’s approval of oil subsidy claims was sequel to the presentation of the report of the Senator Kabir Marafa-led 20-man Senate Committee on Downstream Petroleum Sector on Promissory Note Programme and Bond Issuance to settle inherited local debts and contractual obligations to petroleum marketers by the chairman.
Marafa, in his 11-page…

Source: Thisday Newspaper