The House of Representatives has approved N4 trillion for subsidy on Premium Motor Spirit (PMS) popularly known as petrol.
The approval was sequel to a request by President Muhammadu Buhari for revision of the 2021 fiscal framework.
In forwarding the request for the revision of the Medium Term Expenditure Framework, the President requested the lawmakers to approve an additional N3.557 trillion in addition to the N442.72 billion provided in the 2022 budget for subsidy.
The House also approved the reduction in crude oil production quota from 1.8million barrel per day to 1.6 million barrel per day and a 73 dollar oil price benchmark.
The House also approved a cut in the provision for Federally Funded upstream projects being implemented by the federal government by about N200 billion from N352.80 billion.
Details Shortly…
Following the death of its immediate-past Group Chief Executive Officer, Herbert Wigwe, Access Holdings Plc…
The Minister of the Federal Capital Territory (FCT), Barrister Ezenwo Nyesom Wike, has said there…
A 17-year-old boy, Ojibe Chibueze, has committed suicide in Lagos. The late Chibueze was allegedly…
Three men were on Wednesday, remanded by a Kano Chief Magistrates’ Court for allegedly sodomising…
The Federal Civil Service Pensioners Branch, FCSPB, has called on the federal government to revisit…
The Kano State Hisbah Board said it has arrested 11 people who violated the Ramadan…
This website uses cookies.