Friday, 14 December 2012

Fuel Subsidy: Senate Passes N162bn Supplementary Budget

Amidst mixed feelings amongst some of its members, Senate has passed into an Act the request by President Goodluck Jonathan for an additional N161,617,364,911 as fuel subsidy payment in the 2012 budget framework.
The approval came from the upper chamber after the second reading of the bill for an Act to authorize the issue of appropriation of the request from the Consolidated Revenue Fund of the Federation to provide for the supplementary payment of fuel subsidy.
The Senate eventually passed it in view of its emergency nature, as observed by Deputy Senate Leader, Senator Abdul Ningi.

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