2012 Budget: President Requests for N161.1 Billion Extra in Order for Fuel to Flow During Xmas!

It’s December, 2012 and the last has definitely not been heard about the fuel subsidy issue. In the latest development, President Goodluck Jonathan has asked the National Assembly to approve the sum of N161.1 billion supplementary budget for 2012.

This was contained in a letter addressed to the Senate President, David Mark; President Jonathan said the sum is meant for fuel subsidy. He explained that as part of the 2012 Budget Framework, a provision of N88O.1 billion was appropriated for payment of fuel subsidy for 2012.

However he stated that following the forensic audit carried out, the provision of fuel subsidy in the 2012 budget was under estimated. President Jonathan stated that in order to accommodate the outstanding arrears resulting from the forensic audit exercise and payment for the remaining period of the year 2012, the additional sum is required.

He then asked lawmakers to speedily approve his request to help maintain a steady flow of fuel during the festive season. Maybe the president is trying to prove a point, since most Nigerians are calling that the full subsidy be returned.

Source: Channels