The Revenue Mobilization Allocation and Fiscal Commission (RMAFC) has urged the Federal Government to remove fuel subsidy because it has become a burden on the nation’s economy,Daily Independent reports.
This was contained in a statement by its Head, Public Relations, Mr Ibrahim Mohammed on Wednesday in Abuja. He said the subsidy had not served the masses as it was supposed to and therefore was not serving its purpose.
“It has become a major fiscal and financial burden to the nation and should therefore be discarded totally since the intended targets, the poor and middle income class, were often denied the benefits”.
“The removal will drastically reduce the pressure on the revenue profile of the country just as it will free additional funds for the execution of developmental projects which would have direct bearing on the masses’’, it said.