The Motion that Broke the Stalemate between Delegates for and against Removal of Fuel Subsidy But for the timely intervention of the presiding officers and some delegates of the national conference, the issue of the removal of fuel subsidy recommended by the Committee on Finance and Revenue would have stalled the adoption of the committee’s report by the conference on Tuesday. The debates for and against the removal of the subsidy has been tensed with each side advancing cogent reasons for and against the removal of the subsidy. The Committee on Public Finance and Revenue, before the presentation of its report to the plenary, had invited a number of MDAs (NNPC, NIS, NEITI, FIRS, DMO, and other stakeholders) expressed concern about the continuation of fuel subsidy and added voice in support of its removal. The committee therefore observed that subsidy on petroleum products is a major financial burden the nation has been made to bear. Citing instances, the committee stated that for the period of 2006 and 2011, subsidy accounted for 30% of Government expenditure which translated to 118% of capital budget and 4.18% of GDP. The committee also revealed that subsidy payment of N2.527 trillion in 2012 and 2013 averaged N1.263 trillion per annum. “This is a burden too heavy to bear for the nation and its populace,” the committee declared. This recommendation for the total removal of subsidy however was greeted with applause and opposition by delegates when the report was debated at plenary. When the issue was eventually put to a voice vote, there was no difference between the nays and the ayes. Thereafter, the Vice Chairman, Prof. Akinyemi, who was presiding over the vote, announced that there is a motion on the floor drafted by some delegates, including the Chairman of the Nigeria Labour Congress (NLC), which is a compromise between those for and against the removal of subsidy. The motion reads that: a. The Federal Government shall, within a period of three years from date, build new refineries and repair existing ones to full capacity utilisation. b. The private sector entrepreneurs who have already been granted licences to build new refineries shall, within a period of three years from date, build such new refineries, or automatically forfeit such licenses to enable other participants who are ready and willing to build such refineries within a period of three years the opportunity to do so. c. Upon fulfilment of the preceding conditions, the Federal Government shall be free to remove any existing subsidy from Petroleum products. The motion was read by the Labour Party (LP) Chairman, Chief Dan Iwanyanwu and co-sponsored by the following people: 1. Chief Mike Ozekhome (SAN) 2. Femi Falana (SAN) 3. Charles Edosomwan (SAN) 4. Mohammed Kumaila 5. Chief (Barr) Dan Iwanyanwu 6. Senator (Dr) Offica Nwali 7. Mallam Kura Naseer 8. Mahmud Aminu 9. Wale Osun 10. Prof. Nnenna Oti 11. Mrs Uwajumogu Chidinma 12. Brigadier Gen. D.O. Idada Ikponmwen 13. Jaye Gaskia 14. Ezenwa Nwagwu 15. Alhaji A.A. Salam 16. Festus Okoye 17. Ibuchukwu Ezike 18. Anthony Akika 19. Steve Aluko 20. Alwal Rafsanjani 21. Yz Yau 22. Dr. Abiola Akiyode-Afolabi 23. Dudu Manuga 24. Dr. Isaac Osuoka When this motion was put into vote, the majority of delegates for and against the removal of subsidy accepted it by a resounding “ayes”.
Posted on: Wed, 04 Jun 2014 12:08:20 +0000
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