Lagos Nigeria
The petroleum subsidy payment has risen from the N413billion requested by President Muhammadu Buhari to N521billion, the Permanent Secretary Ministry Petroleum Resources, Mrs. Jamila Shu’ara told Senators yesterday.
President Buhari had on November 18 requested the National Assembly for the approval of supplementary budget of N465.64bn out of which N413bn was for the payment of fuel subsidy.
But while speaking when she appeared before the Senate Committee on Appropriations, she said the subsidy payment proposal of N413bn was for part of 2014 and from January 2015 to September this year.
She explained that the Minister of Petroleum Resources, Ibe Kachikwu met in Lagos yesterday with the major oil marketers who are importing 52 percent of the PMS while the PPMC is importing 48 percent.
Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Senator Rafiu Ibrahim (APC, Kwara South) observed that there was no clear synergy between the ministries of budget and the petroleum resources.
Also Senator Donald Alasoadura, Chairman, Senate Committee on Petroleum Resources (Upstream) requested for the details of the subsidy payment, specifying exact payment due to each of the major oil marketers.
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President Buhari had on November 18 requested the National Assembly for the approval of supplementary budget of N465.64bn out of which N413bn was for the payment of fuel subsidy.
But while speaking when she appeared before the Senate Committee on Appropriations, she said the subsidy payment proposal of N413bn was for part of 2014 and from January 2015 to September this year.
She explained that the Minister of Petroleum Resources, Ibe Kachikwu met in Lagos yesterday with the major oil marketers who are importing 52 percent of the PMS while the PPMC is importing 48 percent.
Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Senator Rafiu Ibrahim (APC, Kwara South) observed that there was no clear synergy between the ministries of budget and the petroleum resources.
Also Senator Donald Alasoadura, Chairman, Senate Committee on Petroleum Resources (Upstream) requested for the details of the subsidy payment, specifying exact payment due to each of the major oil marketers.
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Daily Trust
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