“We embedded N145billion subsidy component in 2015 Budget”, Reps.

NEWS

The House of Representatives has refuted speculations making the rounds that fuel subsidy has been removed from the 2015 Appropriation Bill.

Making the denial while putting the records straight the House of Representatives deputy chairman, Media and Public Affairs Committee, Hon Afam Ogene APC,Anambra explained that the House made provision for the subsidy welfare by embedding a total of N145 billion subsidy component in the 2015 Budget which it passed on Thursday, April 23, 2015.

According to him these amount were made up of N100 billion for subsidy on Premium Motor Spirit ( PMS), and N45billion for kerosene .

According to Hon. Ogene, the confusion and speculations arose out of the fact that both components are contained in the revenue framework upon which the 2015 budget proposals were built.

Hon. Ogene further pointed out that, “When the Executive presented the 2015 budget proposals, it made provisions for N100 billion for petrol , and another N45 billion subsidy on kerosene . Both items, alongside some others, are contained in the revenue framework upon which the 2015 Appropriation Bill was predicated.”

Having now passed the 2015 budget proposals, the revenue framework wherein the subsidy quotient is located, would now be sent alongside , as part of the attachments accompanying the passed Appropriation Bill, to the Executive, for presidential assent.” he added.

Facebook Comments

G+ Comments

Disqus Comments

NewsAnew