Flingpord

  Some Senators have said the National Assembly would not allow the President, Major General Muhammadu Buhari (retd.) to end the proposed subsidy removal by the end of his tenure in June 2023. The lawmakers said discontinuing the policy in June would create a serious crisis for the new administrat-ion that would take over from Buhari. The PUNCH reported that the President on Friday presented to the joint session of the National Assembly N20.51trillion for the 2023 fiscal year where he mentioned that fuel subsidy would be removed after the first six months in 2023. The 2023 – 2025 Medium Term Expenditure Framework and Fiscal Strategy Paper had proposed N3.6trn in the 2023 Budget for fuel subsidy, from January to June The Joint Senate Committee on Finance and Economic Planning which worked on the document slashed the N3.6trn subsidy proposal to N1.7trn but the Senate at plenary rejected it. However, the House of Represent-atives approved the recommendations of its committee which is ...