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FG can’t remove fuel subsidy through announcement – Dogara

The Speaker of the House of Representatives, Mr. Yakubu
Dogara, said on Monday that the only legal way the Federal
Government could permanently remove the subsidy on
petroleum products was to initiate an amendment to the
Price Control Act or have it repealed entirely by the National

He noted that in the schedules to the Act, petroleum
products were listed among the items to be regulated
through pricing.

Dogara also stated that an alternative was for the
government to inaugurate the price control board provided
for under the Act so that the board, in performing its
functions, could remove petroleum products from the list.

“This is the most legal way to do it so that subsidy can go

“Its is not by policy pronouncements alone; so it is for the
government to quickly put the board in place and this issue
can be done with once and for all,” the speaker added.
Dogara spoke in Abuja when he received a delegation of
members of the Independent Petroleum Marketers
Association of Nigeria at the National Assembly.
The delegation was led by the President of the association,
Mr. Chinedu Okoronkwo.

Dogara decried the perennial fuel scarcity in the country,
saying the problem would have been mild were the country
refining crude for domestic consumption.

He also said, “It is inexcusable that we cannot refine our
crude in Nigeria for own consumption.

“Why are the citizens of an oil-producing country queuing
up daily for fuel that they have in abundance?

“We need your expertise (IPMAN) to deal with this national

Okoronkwo earlier informed the speaker that IPMAN
planned to build two refineries in the country, one each in
Bayelsa and Kogi States.

He explained that the refineries would not only secure
employment for Nigerians, but also help in reducing the
frequency of fuel scarcity.

Okoronkwo added that IPMAN was also seeking the
approval of government to engage in the swapping of crude
oil for refined products as an interim solution to the scarcity
of products.

According to him, the marketers were prepared to bring in
such products at “no cost to government.”

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Posted By Bobricky On 08:25 Mon, 13 Jul 2015

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