2018 Budget: Saraki Has One 'Special' Request
Of course, the Senate President did not just oversee the passing of the 2018 budget and keep quiet.
One of the take-homes from the plenary was the lawmakers’ 6 percent increase of the budget estimates from N8.612 trillion to N9.120 trillion.
They attributed this to the increase in oil price benchmark which the proposal set at $45 per barrel but was jerked up to $51 per barrel.
Then in his remarks after the budget was passed, Senate President Bukola Saraki, urged the Executive to include fuel subsidy in the supplementary budget.
His words: "In the area that we could not address, which is the issue of fuel subsidy, I want to make an appeal again that the Executive needs to look into this for the interest of transparency where an expenditure close to over N1 trillion must be captured in the budget.
“And when the supplementary (budget) comes, the Executive should do something about this area. It's an important issue we must address.
"In doing that, we must appreciate now that the crude oil price is close to $80 (per barrel), a lot of Nigerians are expecting to see our Excess Crude Account to be on the rise but if money is being used for subsidy at the end of the day, we will have it difficult to explain.
“That is why it is important that we capture this subsidy into the budget."
This makes a lot of sense, doesn’t it?
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