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…
Do you have any information you wish to share with us? Do you want us to cover your event or programme? For Adverts or report call/WhatsApp us on +2348072633727
..Rejects Electronic Transmission Of Results THE Senate has passed the Electoral Act, 2022 (Repeal &…
News Update A Chieftain of the All Progressives Congress, APC in Osun state, Prince Abdulrasheed…
News Update An All Progressives Congress (APC) chieftain and Senior Special Assistant to the President…
By Segun Ojo The ongoing crisis over the control and management of local government funds…
Bello Saheed Samuel, an employee of an investment company have been before a Federal High…
A businesswoman has been arrested after she allegedly stabbed her salesgirl to death. 30-year-old Ibekwe…