The chairman, Senate Committee on Environment and Ecology, Dr Bukola Saraki has advised the federal government to stop tax rebate being enjoyed by oil multinationals.

He also asked the government to review waivers earlier granted some individuals and firms operating in the country.

These measures, he said, are necessary to boost the nation’s economy, given the drop in oil revenue and what he described as poor budget performance for 2014.

Saraki, who was asked to review the 2014 budget ahead of considerations of the 2015 appropriation bill submitted to the Senate last week, also recommended the immediate stoppage of the swop system whereby Nigeria pays foreign oil refiners with crude oil, saying the country should go for direct importation instead.

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http://monitor9ja.com/2014/12/dr-bukola-saraki-advises-fg-stop-tax-rebate-oil-companies/