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President Jonathan Asks For N161.6 Billion Supplementary Fuel Subsidy Budget

By on December 12, 2012

Just nineteen days to the end of the year, President Goodluck Jonathan has called on the Senate to approve over N161.6 billion supplementary fuel subsidy budget for this year.

It would be recalled that over N880.3 billion was budgeted for fuel subsidy.

However in a letter to Senate President David Mark dated December 5, entitled “Request for supplementary budget for 2012,” Jonathan claimed that the N7.7 billion left of the N880.3 billion would not be enough to settle subsidy claims for the remaining 19 days of the year.

Senator Mark read the letter on the floor of the Senate yesterday.

The President advised that the house should approve the request expeditiously ahead of preparations for the coming festivity to help maintain a steady flow of petroleum products.

The letter reads, “The Distinguished Senate President will recall that as part of the 2012 budget framework, a provision of N888.1 billion was made for payment of fuel subsidy for the nation.

“I wish to intimate the Distinguished Senate of the fact that following the forensic audit carried out, the provision for fuel subsidy in the 2012 budget was underestimated.

As at now, the sum of N880, 264,243,683.61 billion has been paid out, leaving a balance of N7, 735, 756, 316: 39 billion.

“In order to accommodate the outstanding arrears resulting from the forensic audit exercise and the remaining period of the 2012, an additional sum of N161, 617, 364, 911 billion over and above what was programmed in the 2012 framework is required.

“Given the need to maintain a steady flow of petroleum products, especially in the run-up to the festive season, it is my hope that the distinguished senators will kindly accord this request their traditional expeditious consideration and approval.”

Because of the pending controversy over subsidy payments, it is not clear the consideration the lawmakers will give to the request.