ADVERTISEMENT
  • The Membership Club
  • PT Hausa
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
Thursday, February 25, 2021
Premium Times Nigeria
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Opinion
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Parliament Watch
    • Panama Papers
    • Paradise Papers
    • AGAHRIN
Premium Times Nigeria
BUA Group Ad BUA Group Ad BUA Group Ad
ADVERTISEMENT
Senate President Bukola Saraki

Senate President Bukola Saraki

Fuel subsidy must be included in 2018 supplementary budget, Senate tells Buhari

byKemi Busari
May 16, 2018
2 min read

The Executive must provide for fuel subsidy in the supplementary 2018 budget, Senate President, Bukola Saraki, said on Wednesday.

He said this in his comment after the passage of 2018 budget.

The Senate last month warned the Nigerian National Petroleum Corporation (NNPC) to halt illegal payment of subsidy without appropriation.

In a resolution, it asked the NNPC to make a formal request, through the president, for the inclusion of subsidy as an item in the 2018 budget to legalise the payment going forward.

Mr Saraki said the inclusion of subsidy in the 2018 budget will allow for an increment in the Excess Crude Account.

“In the area that we could not address, which is the issue of fuel subsidy, I appeal to the Executive to look into this for the interest of transparency, where an expenditure close to over one trillion must be captured in the budget and when the supplementary comes, the hope is that the executive does something about it. It is an important issue and must be addressed.

“Now that the crude oil price is up to ($)80, a lot of Nigerians are expecting to see our excess crude reserve account to be on a rise but if money is being used for subsidy, it’ll be difficult to explain. That is why it is important that we capture the subsidy into the budget.”

He called for a more harmonious relationship between the Executive and Legislature to ensure speedy passage of subsequent budgets.

“A lot have been said on areas of how we have passed the budget, on areas of how we could have passed the budget earlier. I think there’s definitely room for improvement in the area of cooperation and collaboration between the Executive and the Legislative arm of government.

RelatedNews

EXCLUSIVE: Obinwanne Okeke to restitute $10.7million, forfeits wedding ring, cars to U.S.

Why we are seizing Okorocha’s property – Governor Uzodinma

VIDEO: What Bawa told Senate about himself

Police Funding: Senate approves N1.3 billion for teargas, N10 billion for others

“At least 50 per cent of capital expenditure of ministries, some of them, up till the end of February did not do their defence. I think this is the area that we must wake up as the two arms of government.”

Mr Saraki said the increment in the budget was done with due consultation between the two arms of government.

“Let me also comment on some of the wrong impressions regarding the issue of the increase in the aggregate expenditure. As highlighted by the chairman on appropriation, this has brought about a good working relationship between the Executive and the National Assembly. Both the Executive and the Legislature have seen areas where there’s need for intervention.

Dangote adbanner 728x90_2 (1)

“We’ve heard the chairman of works telling us need for equitable distribution of road projects which has accounted for a significant amount. Power project intervention also. We have seen significant high percentage of capital expenditure in this 2017and I hope that that will lay a good foundation in 2018.”

Mr Saraki urged his colleagues to do proper oversight on MDAs to ensure the budget is well implemented.

The Senate and the House of Representatives on Wednesday passed the 2018 budget, raising it by N500 billion.

Both chambers on Wednesday approved a budget that rose from N8.6 trillion to N9.1 trillion, six months after it was presented by the Executive.

President Muhammadu Buhari presented the budget to a joint session of the National Assembly on November 7, 2017.

Both houses of the National Assembly on had earlier Tuesday received the budget reports of their appropriation committees.

ADVERTISEMENT
  • WhatsApp
  • Tweet
  • Email
  • Print
  • Telegram
  • More
  • Share on Tumblr
  • Pocket

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


TEXT AD: To advertise here . Call Willie +2347088095401...


JOIN THE CONVERSATION

  • Disqus (1)
premiumtimes



PT Mag Campaign AD

Previous Post

Kaduna Killings: Senate summons DSS, Military, Police for briefing

Next Post

‘Boro Day’: Dickson harps on true federalism

Kemi Busari

Kemi Busari

Kemi Busari is a senior reporter covering the Nigerian Senate for PREMIUM TIMES. He has interest in human rights and has won awards for his works, including the Hans Verploeg Award and the PwC Business reporting award. Twitter: @kemi_busari

More News

The townhall of Bellinzona, Switzerland. New Narratives/James Harding Giahyue

Kosiah Defence Witness Refuses to Leave Switzerland Saying His Life in Danger

February 25, 2021
Professor Edwin Ijeoma

STRANDED: Professor, who renounced Nigerian citizenship, expelled from his new country

February 25, 2021
Electricity prepaid meters used to illustrate the story.

Nigeria electricity regulator seeks citizens’ ideas on mass metering

February 24, 2021
Nigerian Investment Promotion Commission – NIPC

Nigerian Investment Promotion Council staff hold protest, shut office

February 24, 2021
EFCC Officials

Court acquits defendants of N170million FIRS contract fraud

February 24, 2021
Ghana gets delivery of COVID19 vaccines from the COVAX facility [PHOTO CREDIT: @WHOAFRO]

Ghana receives 600,000 doses of COVID-19 vaccine

February 24, 2021
Next Post
Boro Day

‘Boro Day’: Dickson harps on true federalism

African Union [Photo: Wikipedia]

Media experts, activists hold talks on AU action plan on human, peoples' rights

Discussion about this post

Search

#EndSARS: Latest Updates




Polaris Bank


JAIZ Ad


NITDA Ad





Glo Ad

Subscribe to News via Email

Enter your email address and receive notifications of news by email.

Join 1,624,023 other subscribers.

Advertisement






netherland biz school Advert

Zenith Advert
ADVERTISEMENT

Our Digital Network

  • PT Hausa
  • Election Centre
  • Human Trafficking Investigation
  • Centre for Investigative Journalism
  • National Conference
  • Press Attack Tracker
  • PT Academy
  • Dubawa
  • LeaksNG
  • Campus Reporter

Resources

  • Oil & Gas Facts
  • List of Universities in Nigeria
  • LIST: Federal Unity Colleges in Nigeria
  • NYSC Orientation Camps in Nigeria
  • Nigeria’s Federal/States’ Budgets since 2005
  • Malabu Scandal Thread
  • World Cup 2018
  • Panama Papers Game
  • Our Digital Network
  • About Us
  • Resources
  • Projects
  • Data & Infographics
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

No Result
View All Result
  • Home
  • COVID-19
  • News
    • Headline Stories
    • Top News
    • More News
    • Foreign
  • Investigations
  • Business
    • News Reports
    • Financial Inclusion
    • Analysis and Data
    • Business Specials
    • Opinion
    • Oil/Gas Reports
      • FAAC Reports
      • Revenue
  • Health
    • News Reports
    • Investigations
    • Data and Infographics
    • Health Specials
    • Features
    • Events
    • Primary Health Tracker
  • Agriculture
    • News Report
    • Research & Innovation
    • Data & Infographics
    • Special Reports/Features
    • Investigations
    • Interviews
    • Markets
  • Arts/Life
    • Arts/Books
    • Kannywood
    • Lifestyle
    • Music
    • Nollywood
    • Travel
  • Sports
    • Football
    • More Sports News
    • Sports Features
  • Projects
    • Panama Papers
    • Paradise Papers
    • Parliament Watch
    • AGAHRIN
  • Opinion
  • PT Hausa
  • The Membership Club
  • Dubawa
    • Dubawa NG
  • About Us
  • Advert Rates
  • Careers
  • Contact Us
  • Digital Store
  • DONATE

All content is Copyrighted © 2020 The Premium Times, Nigeria

Our website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.