25.1 C
Abuja

Reps approve Buhari’s N4trn request for petrol subsidy

Advertisement

Related

Advertisement
Advertisement

THE House of Representatives has approved N4 trillion for subsidy on premium motor spirit (PMS), popularly known as petrol.

The approval was sequel to a request by President Muhammadu Buhari for revision of the 2021 fiscal framework.

While forwarding the request for the revision of the Medium Term Expenditure Framework, President Buhari requested the lawmakers to approve an additional N3.557trn to the N442.72 billion provided in the 2022 budget for subsidy.


READ ALSO:

Labour faults IMF’s fuel subsidy advice to Nigerian government

Nigerians groan over fuel scarcity as Buhari sends N2.557 trillion supplementary budget to NASS for subsidy

FG to amend PIA to make room for fuel subsidy removal, says Sylva


- Advertisement -

The House also approved a cut in the provision for federally funded upstream projects being implemented by the Federal Government by about N200bn, from N352.80bn.

The approval came days after the House of Representatives kicked against fuel subsidy in the country.

The House had declared it would not continue to approve N4trn annually for fuel subsidies due to the state of the nation’s economy.

The Chairman of the ad-hoc committee investigating the state of Nigeria’s refineries, Ganiyu Johnson, had stated the position of the House, saying, “We do not want subsidy, and if we do not want subsidy, then the refineries must be working. We must find a way to make them work so we can refine them locally. It is a shame.

“So, I want to implore everybody, let us work together as Nigerians. We owe our people so that we can end the issue of subsidy. That money for subsidy can be channelled to developmental projects if the refineries are working.

“You expect the National Assembly to sit down and approve over N4trn just for subsidy, money that should be used for something else. We cannot continue.”

Author profile

A reporter with the ICIR
A Journalist with a niche for quality and a promoter of good governance

Support the ICIR

We invite you to support us to continue the work we do.

Your support will strengthen journalism in Nigeria and help sustain our democracy.

[molongui_author_box]

If you or someone you know has a lead, tip or personal experience about this report, our WhatsApp line is open and confidential for a conversation

Advertisement

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Support the ICIR

We need your support to produce excellent journalism at all times.

Advertisement

Recent

Buhari okays Seplat’s buy of ExxonMobil’s Nigeria unit

PRESIDENT Muhammadu Buhari has okayed and granted consent to Seplat’s acquisition of ExxonMobil’s Nigerian...

State pardon: Ex-govs Dariye, Nyame released from prison

FORMER governors of Plateau and Taraba states, Joshua Dariye and Jolly Nyame, were released...

CWG 2022: Nigerian female athletes outperform male colleagues

AS the Commonwealth Games ends, Nigerian female athletes have outperformed their male colleagues by...

Okada riders embark on violent protest over raid by FCT task force

COMMERCIAL motorcyclists, popularly known as okada riders, on Monday embarked on a violent protest...

2023: Court sets September 7 to hear certificate forgery suit against Tinubu

THE Federal High Court sitting in Abuja has fixed September 7 to hear a...
Advertisement

Most Read

Advertisement

Subscribe to our newsletter

Advertisement