NLC HAILS SUBSIDY PROBE REPORT BUT…

The Nigeria Labour Congress (NLC), has commended a report of the House of Representatives ad hod Committee on fuel subsidy, but said it was not enough for private and public organizations like the Nigerian National Petroleum Corporation (NNPC) and the Petroleum Product Pricing Regulation Agency(PPPRA), to be asked to make refund considering some of the findings of the probe that showed clear indication of criminality.

In a statement in Abuja yesterday, the NLC commended the Faruk Lawan-led committee for carrying out the probe and mustering the courage to make the report public as well as the decision of the House leadership to televise live the debates on the probe and called for immediate prosecution of the suspects.

It called on President Goodluck Ebele Jonathan and the National Assembly to ensure that the findings of the report were speedily implemented as 'the country could continue to be bled by unscrupulous people.' Labour, noted that the ad hoc Committee report on fuel subsidy which revealed the criminal looting of the nation's resources has clearly vindicated the NLC allegation of fraud in the subsidy regime and the manipulation of figures in a presentation by the Finance Minister, Dr Ngozi Okonjo Iweala, during one of its meetings with President Jonathan held at the Presidential Villa on December, 20, 2011.

'The Report also vindicates the Nigeria Labour Congress (NLC)'s position stated before President Goodluck Jonathan. The NLC had at that meeting in the Presidential Villa made allegations of fraud in the subsidy regime and the manipulation of figures in a presentation made by the Minister of Finance. In response, the President had asked the NLC to come up with its facts at the next meeting which was fixed for the new year, but that meeting never held'.

It also said the committee report was a vindication of the Nigerian people who had embarked on strike, mass rallies and street protest against government's mindless increase in the price of fuel, adding that ' the massive looting of the subsidy funds and the corruption in the oil industry are sufficient grounds for the N97per liter cost of PMS(petrol), to be drastically reduced'.