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
The Federal Capital Territory Police Command has rescued an unidentified mentally challenged woman who delivered…
Panic gripped parts of Lagos in the early hours of Saturday following as fire outbreak…
Troops of the Nigerian Army have arrested 13 persons suspected to be part of a…
Our attention has been drawn to a rumour circulating around claiming that Hon. Oyewole Aderemi,…
Some residents of Plateau State have berated President Bola Tinubu following his visit to the…
Osun State Governor, Senator Ademola Adeleke has congratulated the new leadership of Osun Online Publishers…