*Says Subsidy Can Only Be Removed By Amending Price Control Act 1977
The Speaker of the House of Representatives, Yakubu Dogara, has said that any call for the removal of petroleum subsidy can only be done through the amendment of the Price Control Act 1977. He said the amendment cannot be by presidential fiat or government policy.
Dogara said this while addressing national executives of Independent Petroleum Marketers Association of Nigeria (IPMAN), led by its president, Chinedu Okoronkwo in Abuja on Monday.
He said; “As a legislator, I can tell you there is something about subsidy removal that we are not looking at. If you look at Section 4 of the Price Control Act, it talks about regulating the prices of products that are listed in the First Schedule of the Act. “One of the products listed in the first schedule is petroleum. So, by law in this country, we must control the price of petroleum products’’.
According to the speaker, the law passed by parliament gives the responsibility of adding or removing items on the Schedule to the Price Regulating Board.
“I am not sure we have that board in place. So, for any discussion to be meaningful, you have to put pressure on the executive. It is not the legislative’s work to constitute the board,’’ he said.