Budget: FG made provision for fuel subsidy, Reps say

Posted by admin Budget, Headlines, House, Legislature, Oil Politics Friday, April 24th, 2015

The House of Representatives clarified on Friday that it approved N145bn for fuel subsidy in the 2015 budget.

It said N100bn was approved for petrol subsidy while the balance of N45bn was for kerosene subsidy.

Deputy House spokesman, Mr. Victor Ogene, who made the clarification in Abuja, explained that the N145bn was embedded in the revenue framework of the N4.4tr budget the House passed on Thursday for 2015.

“When the Executive presented the 2015 budget proposals, it made provisions for N100bn for petrol , and another N45bn subsidy on kerosene.

“Both items, alongside some others, were contained in the revenue framework upon which the 2015 Appropriation Bill was predicated,” Ogene explained.

He added that the revenue framework would be sent as “attachments” along with other components of the budget to President Goodluck Jonathan for his assent.

“The revenue framework wherein the subsidy quotient is located, will now be sent alongside , as part of the attachments accompanying the passed Appropriation Bill, to the Executive, for presidential assent,” he stated further.

Ogene made the clarification amid reports that the budget the House passed did not include provisions for‎ fuel subsidy.

He said the speculation arose because the‎ subsidy component was not part of proposals considered for Ministries, Departments and Agencies of government by the House on Thursday.

“The revenue framework upon which the entire budget proposals were predicated was jointly worked upon by officials of the Executive branch of the government and the House Committee on Finance with provisions outlined for fuel subsidy as earlier pointed out,” he added.
-Punchwp_posts