Chairman, Senate Committee on Science and Technology, Sen. Robert Boroffice, said in Abuja on Thursday that the Senate would be very objective in deliberating on the proposed withdrawal of fuel subsidy.
Boroffice told journalists that the outcome of the Senate’s deliberations would be favourable to Nigerians.
“Well, the executive has made up its mind that oil subsidy would be removed; the governors have agreed that oil subsidy should be removed; Senate is looking into it now.
“It has been referred to about three committees in the Senate before we come up with our own pronouncements.
“On the surface, it looks like it’s in the interest of Nigerians to remove the oil subsidy, but we have to look into it objectively, taking into consideration the possible effect of the removal of the oil subsidy.
“When the senate concludes its finding, the public would be informed.’’
Borrofice decried the poor state of the country’s refineries which he said led to the consideration of retention or withdrawal of fuel subsidy.
He said that more than N900 billion had been appropriated so far in 2011 as oil subsidy, stating that the figure would hit trillions of naira before the end of the year (NAN).
“If we have our refineries here, and we back it up with science and technology, the N1.3 trillion we are pouring into oil subsidy, which even the common man is not benefiting from can go into other areas of the economy.’’