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Thursday, 13 December 2012

President GEJ requests N162bn budget for fuel subsidy

President Goodluck Jonathan on Tuesday, requested the National Assembly to approve N161,617,364,911, which will be built into the 2012 supplementary budgetary framework, to settle outstanding fuel subsidy claims. Ahnnnnn!!!

The president’s request for approval of a supplementary budget coincided with a directive by the House of Representatives to its Committees on Finance and Appropriation that they compile a comprehensive report on the Federal Government’s revenue, expenditure and any unforeseen savings in the course of implementation of the 2012 budget. Read more after the hack...
The president’s letter further disclosed that N880,264,234 683.61 had been paid out of the N888.1 billion appropriated in the budget, leaving a balance of N7,735,756,316.39.He however said: “I am further worried that if this House does not come to the rescue of the 2012 budget, the dream of Nigeria becoming one of the 20 great economies by the year 2020 would no longer be attained because we have consistently missed targets.”

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