Senate Approves N4.5 Trillion 2015 Budget, No Allocation For Subsidy

Senate Approves N4.5 Trillion 2015 Budget, No Allocation For Subsidy

By News Desk | The Trent on April 29, 2015
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marafa Senate Amaechi PDP Senators
File Photo: Nigerian Senate Floor

The Nigerian Senate on Tuesday, April 28, 2015 approved the N4.493 trillion budget for the 2015 fiscal year, which was passed by the House of Representatives on Thursday, April 23, 2015.

Conspicuously missing from the budget was an allocation to finance fuel subsidy, although N21 billion was budgeted for funding the Subsidy Reinvestment and Empowerment Programme.

Chairman of the Joint Senate Committee on Appropriation and Finance, Mohammed Maccido, while explaining the details of the budget said the one passed by the Senate was no different from the one passed by the House of Representatives, adding that the non-inclusion of subsidy was the decision of the executive and the senate 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.”

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