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Senate allocates N143bn for fuel subsidy in 2015 budget

monjola sotubo

May 1, 2015 5:34 PM

According to the Senate Committee Chairman on Finance, Ahmed Makarfi, a total sum of N100bn was allocated as subsidy for Premium Motor Spirit (PMS), while N43bn was approved for Dual Purpose Kerosene.

Incumbent Senate President, David Mark

The Senate has denied reports that it did not make provision for fuel subsidy payments in the recently passed 2015 budget.

According to the Senate Committee Chairman on Finance, Ahmed Makarfi, a total sum of N100bn was allocated as subsidy for Premium Motor Spirit (PMS), while N43bn was approved for Dual Purpose Kerosene.

Makarfi made the clarification on Thursday, April 30, 2015, during a chat with journalists.

“There is a provision for subsidy in the budget, people need to understand where to look for an issue. If you look at the main appropriation, there is so many cost components,” he said.

“For you to see them, you have to go through the revenue profile. In this year budget, N100bn was provided for Premium Motor Spirit, N43bn for DPK,” he added.

The Senate passed the budget of N4.493tr on Tuesday, April 28, five months after it was submitted by Minister of Finance, Ngozi Okonjo-Iweala.

monjola sotubo