Long queues have surfaced at filling stations across the Bauchi metropolis, signalling a scarcity of Premium Motor Spirit (PMS), otherwise called petrol.
Mr Cardoso said there are several causes for fuel bought into vehicle tanks to burn faster than usual.
“It is truly a shame that the World Bank has really shown itself to be an enemy of the Nigerian nation.”
The Senate constituted an ad hoc committee to investigate the fuel subsidy regime of the Nigerian National Petroleum Company Limited (NNPCL).
NOA says the deregulation of the downstream sector of the petroleum industry will create more job opportunities in Nigeria.
“We do not want to distract them from the onerous tasks facing them and the nation. Neither is it our wish to take the spotlight away from them in any way,” he said.
The NLC president said that the proposed hike would lead to a ripple effect by other product or service providers in the country.
Subsidies from 2005 to 2021 was equivalent to the entire budget for health, education, agriculture and defence in the last five years.
NNPC says the decision to remove the subsidy on petrol by President Bola Tinubu is a welcome development.
The committee would, among other things, ensure transparent and efficient supply and distribution of petroleum products across the country.
