http://www.punchng.com/news/senate-passes-n4-9tr-budget-for-2015/

The Senate on Tuesday, passed N4.493tr budget for the 2015 fiscal year, about five months after it was presented by the Minister of Finance/Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala.

The national budget, which was earlier passed by the House of Representatives last week, was N51bn higher than the N4.425tr submitted to both chambers of the National Assembly by the federal government.

The senate approval of the budget on Tuesday, however confirmed the non inclusion of fuel subsidy provision in the document but contained N21bn for the funding of the Subsidy Reinvestment and Empowerment Programme.

The senate, in passing the budget, slightly reduced the N2.607, 601, 000, 300 proposed by the executive to N2.607, 132,491,708 as recurrent expenditure and simultaneously scaled down the capital expenditure from N642,848,999,699 estimated in the proposal to N556,995,465,449.

The Chairman, Joint Senate Committee on Appropriation and Finance, Mohammed Maccido, explained that the details of the figure approved by senate in the document were not different from the version passed by the House of Representatives last week.

He confirmed that the executive did not make provision for subsidy in the 2015 budget and that the National Assembly left it the way it was presented.

He said, “There was no provision in the budget for subsidy but I believe there should be provision for it especially since there was already, a disagreement between the oil marketers and the federal government over subsidy payment.”

Still waiting for Baba half-chance to stabilise world oil prices

Okay. Let's see how this pans out.
We are in for very interesting times indeed.

himkers:
Jhd

You dey vex oo!

No wonder there's scarcity of fuel.

Does it mean the price of fuel will increase? Is that a farewell gift from Jonathan to Nigerians?

oko o

citizenisb:
http://www.punchng.com/news/senate-passes-n4-9tr-budget-for-2015/

The Senate on Tuesday, passed N4.493tr budget for the 2015 fiscal year, about five months after it was presented by the Minister of Finance/Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala.

The national budget, which was earlier passed by the House of Representatives last week, was N51bn higher than the N4.425tr submitted to both chambers of the National Assembly by the federal government.

The senate approval of the budget on Tuesday, however confirmed the non inclusion of fuel subsidy provision in the document but contained N21bn for the funding of the Subsidy Reinvestment and Empowerment Programme.

The senate, in passing the budget, slightly reduced the N2.607, 601, 000, 300 proposed by the executive to N2.607, 132,491,708 as recurrent expenditure and simultaneously scaled down the capital expenditure from N642,848,999,699 estimated in the proposal to N556,995,465,449.

The Chairman, Joint Senate Committee on Appropriation and Finance, Mohammed Maccido, explained that the details of the figure approved by senate in the document were not different from the version passed by the House of Representatives last week.

He confirmed that the executive did not make provision for subsidy in the 2015 budget and that the National Assembly left it the way it was presented.

He said, “There was no provision in the budget for subsidy but I believe there should be provision for it especially since there was already, a disagreement between the oil marketers and the federal government over subsidy payment.”

Hmmnn... I just dey laff.

This is the reason for the sudden fuel scarcity, petrol is now deregulated, prepare for INFLATION!!

The senate approval of the budget on Tuesday, however confirmed the non inclusion of fuel subsidy provision in the document but contained N21bn for the funding of the Subsidy Reinvestment and Empowerment Programme.

He confirmed that the executive did not make provision for subsidy in the 2015 budget and that the National Assembly left it the way it was presented.

He said, “There was no provision in the budget for subsidy but I believe there should be provision for it especially since there was already, a disagreement between the oil marketers and the federal government over subsidy payment.”

JackBaueress1:
No wonder there's scarcity of fuel.

Does it mean the price of fuel will increase? Is that a farewell gift from Jonathan to Nigerians?

Let's hope not......its already high as it is
Don't even want to imagine the price it would be increased to if it happens
Won't be suprised if there's an increase tho lool na naija we dey

citizenisb:
This is the reason for the sudden fuel scarcity, petrol is now deregulated, prepare for INFLATION!!

The senate approval of the budget on Tuesday, however confirmed the non inclusion of fuel subsidy provision in the document but contained N21bn for the funding of the Subsidy Reinvestment and Empowerment Programme.

He confirmed that the executive did not make provision for subsidy in the 2015 budget and that the National Assembly left it the way it was presented.

He said, “There was no provision in the budget for subsidy but I believe there should be provision for it especially since there was already, a disagreement between the oil marketers and the federal government over subsidy payment.”

Chai! No be small inflation oo .....an increase in fuel wld definitely bring an increase in price of goods #i weep for nigeria ooo

Takeaway gift from the outgoing Government to all Nigerians.













They wanna create problems in advance for the incoming Government.
Lol!
We are watching!!!

Well done o! I believe the executive deliberately left out subsidy payment from the budget to act as cover up for the double subsidy payment revealed by the PWC report.
From the report NNPC paid subsidy directly from crude oil earnings and paid the balance to the Federation account, FG gets it earnings from the federation account, yet still captures subsidy payment in the budget for that same period.

Read Highlights of PWC Audit Report of NNPC Accounts

If the present price of crude is selling at 63 dollar per barrel and nigerians are buying fuel at 87 naira, its possible y that they are not even subsidizing at all or they are doing it with very little amount

They are setting trap for GMB. Yet ds government is stil owing oil marketers for months. Okonjo said its a lie... Pdp wont answer nw but on dia stogs AIT de wil release statement. Rubish.

Now, I dey confused.

Is there why there is fuel scarcity in abuja 2day?? Nnna harder times r coming oo

The scam of fuel subsidy will be exposed as a concept that does not exist in reality but is used as a vehicle to effectively loot funds from the treasury.

Interesting times may be ahead (the gods willing).

Goodluck Ebele Jonathan
Always Creating a Significant choas each year for the past 6-Years

2011-Boko Haram
2012-Fuel Subsidy
2013-PDP Internal war starten
2014- Chibok Girls
2015-Removal of Fuel Subsidy Totally

Good development GEJ.
Subsidy should go. . .. expecially with the drastic drop in global oil price

citizenisb:
http://www.punchng.com/news/senate-passes-n4-9tr-budget-for-2015/

The Senate on Tuesday, passed N4.493tr budget for the 2015 fiscal year, about five months after it was presented by the Minister of Finance/Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala.

The national budget, which was earlier passed by the House of Representatives last week, was N51bn higher than the N4.425tr submitted to both chambers of the National Assembly by the federal government.

The senate approval of the budget on Tuesday, however confirmed the non inclusion of fuel subsidy provision in the document but contained N21bn for the funding of the Subsidy Reinvestment and Empowerment Programme.

The senate, in passing the budget, slightly reduced the N2.607, 601, 000, 300 proposed by the executive to N2.607, 132,491,708 as recurrent expenditure and simultaneously scaled down the capital expenditure from N642,848,999,699 estimated in the proposal to N556,995,465,449.

The Chairman, Joint Senate Committee on Appropriation and Finance, Mohammed Maccido, explained that the details of the figure approved by senate in the document were not different from the version passed by the House of Representatives last week.

He confirmed that the executive did not make provision for subsidy in the 2015 budget and that the National Assembly left it the way it was presented.

He said, “There was no provision in the budget for subsidy but I believe there should be provision for it especially since there was already, a disagreement between the oil marketers and the federal government over subsidy payment.”

Probably there was nothing like subsidy payments after all but an avenue to loot by budgeting for the scam called subsidy.

GMB really has so much to do to sanitize the corrupt goverment of Jonathan.

I love my country but our leaders dont love me. Baba GMB pls dont disappoint me in this corruption war ooh cos i sacrifice so many things in my life this past few months for ur sake. i have vowed that i will not trust any bloody Nigerian again ever if GMB should fail us.

A fairly used blackberry bold 4 in good condition is up for sale at 5k last price It has some inkish marks on the right side of the screen The battery is strong If interested contact Dayo on: 07038865067 whatsapp or call Lagos Residents only

JackBaueress1:
No wonder there's scarcity of fuel.

Does it mean the price of fuel will increase? Is that a farewell gift from Jonathan to Nigerians?

What do you care?

At this period it appears like subsidy has to go as we are on serious austerity. Buhari and his crew are yet to come to terms with the reality, the good news is that he will take over the reins of power in few weeks time. So I am patiently waiting for his magic.

It is unfortunate that no provision was made for the budget for subsidy, but conside®ing the dwinndling fortune of the oil price, it is a welcome development to save the county from collapse due to poor fiscal policy. Government at all levels must put infrastructures in place to see that Nigerians enjoy the best of the budget.

***lets keep our fingers cross'd n watch ow d events turn out 2 b...*** #God bless Nigeria#

The opposition parties that became APC stated that there was no subsidy a couple of years ago. I expect APC to solve this petrol and refinery issues issues with a midas touch. We need change, dont we ?

barcanista:
At this period it appears like subsidy has to go as we are on serious austerity. Buhari and his crew are yet to come to terms with the reality, the good news is that he will take over the reins of power in few weeks time. So I am patiently waiting for his magic.

It is unfortunate that no provision was made for the budget for subsidy, but conside®ing the dwinndling fortune of the oil price, it is a welcome development to save the county from collapse due to poor fiscal policy. Government at all levels must put infrastructures in place to see that Nigerians enjoy the best of the budget.

your comments at times are confusing.
poor fiscal policy from thesame GEJ you are clamoring for.

usbcable:

your comments at times are confusing.
poor fiscal policy from thesame GEJ you are clamoring for.

The removal of the subsidy is a welcome development within the scope of the present reality.

Billyonaire:
The opposition parties that became APC stated that there was no subsidy a couple of years ago. I expect APC to solve this petrol and refinery issues issues with a midas touch. We need change, dont we ?

YESSSSS

Just watching in 3D