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With the nation evidently on tenterhooks, the House of Representatives convened an emergency session on Sunday, the 8th of January 2012, and decided among other things, to probe the management of the fuel subsidy scheme so as to unearth the factors responsible for the rot and find out how to tackle the structural and procedural deficiencies that have contributed to our woes as a nation. At that same session, the House also appealed to President Goodluck Jonathan to suspend the fuel price hike until a more fortuitous time. While those interested in muckraking will find enough materials with which to peddle their trade from the testimonies of all the principal stakeholders, serious minded people will find sufficient proof (in the report) of the waste and corruption that are inherent in an unbridled regime of subsidy that is beyond reforming. Perhaps with that, we can begin an honest conversation about whether it is indeed in the interest of our country to continue with the regime of fuel subsidy that has made emergency billionaires of some rent-seekers in the private sector and their collaborators in government while making nonsense of our oil and gas sector.FUEL SUBSIDY: THE DAY OF RAGE By Olusegun Adeniyi

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