The Senate, yesterday, raised the alarm that the nation has spent not less than N11 trillion on oil subsidy payment in six years, warning that further payment could kill the economy. Consequently, the Senate asked the Federal Government to put an end to the payment of oil subsidy, which it described as a drain on the economy. The lawmakers also called for the building of new refineries to finally put an end to fuel subsidy payment in the country. Resolutions of the Senate were a sequel to the consideration of a report of the Senator Kabiru Marafa (APC, Zamfara Central)-led Committee on Petroleum, Downstream on Promissory Note Programme and a Bond Issuance to Settle Inherited Local Debts and Contractual Obligations to Petroleum Marketers. In his presentation, yesterday, Marafa said the committee observed that there were differences in submissions made by the Federal Ministry of Finance, Petroleum Products Pricing Regulatory […]