2012 Subsidy Budget: ‘Sanusi’s Concerns Unfounded’

Dr. Ali Ahmad, a member of the House adhoc committee that investigated the fuel subsidy has stated that concerns that the amount voted for fuel subsidy in the 2012 budget is inadequate are misplaced.

Government set aside N888 billion for subsidy payments in 2012. However many analysts are concerned that the amount may be grossly inadequate due to rising crude prices among other factors.

The lawmaker was addressing the remarks made by Mallam Sanusi Lamido, the CBN governor, in Washington less than two weeks ago where the apex bank boss called for the total scrapping of the fuel subsidy program, calling it unsustainable.

Dr. Ahmad instead called on government to earn the trust of Nigerians by providing good governance and accountability.

He said, “With proper marketing and management of exported crude oil, government does not even need the  budget for subsidy provision this year.

“Lamido Sanusi said even the N888bn will not be enough before the end 2012.  They have started. Nigerians should wake up and shine their eyes. Now is April and Lamido is raising the alarm. So we might see another trillion or more before the end of 2012.

“We do not even have to spend the budgeted subsidy amount with good transaction and management of the oil crude.

“It is the duty of all us to defend the masses,” he added.

The lawmaker also revealed that companies belonging to past and serving governor’s as well as ministers and top politicians (mainly PDP) were involved in the subsidy scam.

He said, “Companies belonging to past and serving governors, ministers and top politicians are involved in the scam.

“This is an opportunity for government to earn peoples’ trust and implement the report.”