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FG spends N2trn on fuel subsidy in 7 years — Rep

…backs deregulation

By Tordue Salem

ABUJA—Deputy Chairman, House of Representatives Committee on Petroleum Downstream, Rep. Aro Bamidele (PDP/Yagba/Kogi) has revealed that from 2003 to date, the Federal Government has spent about N2trillion on subsidy for petroleum products.

Mr. Bamidele, who threw his weight behind a full deregulation of the energy sector, said the plan of the United States to cut its dependence on the country’s crude oil market by 2012 will impact positively on the masses of the country.

The lawmaker who was briefing newsmen in Abuja on the downsides to fuel subsidy, said his committee and majority of the legislators were not happy that government was still throwing the tax payers’ money at marketers of petroleum products, when majority of Nigerians were not buying at the subsidized price.


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