RMAFC supports new petrol subsidy regime


The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has backed the reintroduction of subsidy on petroleum products by the Federal Government through the Nigerian National Petroleum Corporation (NNPC), The Punch reports.

The Acting Chairman, RMAFC, Mr. Umar Gana, said given that the nation was just recovering from recession, the best option was to pay subsidy on petroleum products rather than increase the pump prices.

Gana said increasing the pump price of petrol at a delicate time that the nation was recovering from recession could reverse the gains that the economy had made, adding that the best option was for the Federal Government to bear subsidy on the product.