Nigeria: Fuel Subsidy – No Provision for N5,000 Allowance in 2022 Budget – Senator

Ms Ahmed had on Tuesday said the federal government will remove fuel subsidy and replace it with a monthly N5,000 transport grant to poor Nigerians.
There is no provision for N5,000 monthly allowance for 40 million Nigerians in the 2022 budget, the Chairman of the Senate Committee on Finance, Adeola Olamilekan, has said.
The lawmaker who disclosed this to journalists Wednesday said there is still a provision for subsidy in the 2022 budget submitted by the Executive to the National Assembly.
He was reacting to an announcement made by the Minister of Finance, Zainab Ahmed.
Ms Ahmed had on Tuesday said the federal government will remove fuel subsidy and replace it with a monthly N5,000 transport grant to poor Nigerians.
The transport grant, she explained, will target about 30 to 40 million Nigerians who make up the poorest population of the country. And available resources after the removal of fuel subsidy will determine the number of beneficiaries.
Many Nigerians have kicked against this plan. Both the Nigerian Labour Congress and Trade Union Congress have opposed the plan especially since negotiations are still ongoing with regards to subsidy removal.
PREMIUM TIMES had reported how Nigeria spends over N102.5 billion monthly to subsidise petrol.
No budgetary provision, NASS unaware
But the government’s plan is new to the National Assembly as no allocation was made in the 2022 budget currently before the lawmakers, Mr Adeola told journalists.
The proposal, he said, is still a rumour to him because before the Executive can embark on such intervention, a proposal will be sent to National Assembly.
The lawmaker noted that the planned intervention will cost about N2.4 trillion and there is a need for the legislature to question the criteria that would be used to determine the beneficiaries of the transportation allowance.
“I don’t want to go into details. If there is something like that, a document needs to come to National Assembly and how do they want to identify the beneficiaries. This is not provided for in the 2022 budget proposal which is N2.4 trillion.
“It’s still news because this budget we are considering, contains subsidy and if we are passing a budget with subsidy in the fiscal document, we can’t speak because that is the document that is currently before us.
Get the latest in African news delivered straight to your inbox
By submitting above, you agree to our privacy policy.
Almost finished…
We need to confirm your email address.
To complete the process, please follow the instructions in the email we just sent you.
There was a problem processing your submission. Please try again later.
“The Minister of Finance, Budget and National Planning was quoted as saying that 40 million Nigerians will be paid N5,000 as transportation allowance, in lieu of the fuel subsidy.
“There are still a lot of issues to be deliberated upon and looked into if eventually, this will come to pass and how do we raise this money to pay these 40 million Nigerians.
“We don’t have anywhere in the budget where 40 million Nigerians will collect N5000 monthly as transportation allowance totalling N2.4 trillion.”
The lawmaker further said until there is a formal notice to the National Assembly requesting either a virement to the budget or reordering of the budget, it will be taken as a rumour.
However, the Executive can still propose an amendment to the 2022 budget proposal or submit a supplementary budget if it decides to go ahead with the subsidy removal and payment of transport allowance to poor Nigerians.
Read the original article on Premium Times.
AllAfrica publishes around 700 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.
Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.
AllAfrica is a voice of, by and about Africa – aggregating, producing and distributing 700 news and information items daily from over 100 African news organizations and our own reporters to an African and global public. We operate from Cape Town, Dakar, Abuja, Johannesburg, Nairobi and Washington DC.
Get the latest in African news delivered straight to your inbox
By submitting above, you agree to our privacy policy.
Almost finished…
We need to confirm your email address.
To complete the process, please follow the instructions in the email we just sent you.
There was a problem processing your submission. Please try again later.

source

admin

Leave a Reply

Your email address will not be published. Required fields are marked *

  ⁄  1  =  six

Next Post

Nigeria: Nigeria Will Survive Its Challenges, Despite Escalating Grievances, Says Fitch

Fri Nov 26 , 2021
Notwithstanding threats posed by the Islamist insurgency in the north, clashes between Fulani herdsmen and pastoralists in the Middle Belt region as well as growing unrest in the South which have continued to threaten the country’s existence, Nigeria will survive its challenges over the next decade even though they would […]