Abuja - The Senate on Wednesday, slashed the
allocation for petrol and kerosene subsidies
presented by the Ministry of Finance in the
Medium Term Expenditure Framework for 2015 -
2017.

The upper chamber, while approving the MTEF,
slashed petrol subsidy from N200 billion to N100
billion.

It also reduced the subsidy allocated to kerosene
from N91.08 billion to N45.52 billion.

Chairman of the Joint Committee on Finance and
National Planning; Economic Affairs and Poverty
Alleviation, Sen. Ahmed Makarfi, said the
reduction was due to the fall in oil prices at the
international market.

"The joint committee recommends a downward
review of subsidy payment for PMS from N200
billion to N100 billion and kerosene from N91.08
billion to N45.52 billion.

"This is as a result of the current low prices in
crude oil prices at the international oil market.

"The relevant committees of the National
Assembly should through oversight, ensure the
full implementation of the proposed kerosene
subsidy and the availability and of the product’’,
he said.

Makarfi also said the reduction in the subsidy
allocations to petrol reflected government’s
commitment to transparency and accountability in
the entire oil and gas sector.

In his remarks, the Senate President, David Mark
said there was need for a budget cut across the
three arms of government in view of the current
economic reality.

Mark said the government must continue with it
reform policy in order to promote the growth of
the non-oil sector.

He expressed delight on the expeditious passage
of the MTEF.

- NAN

m.news24.com/nigeria/National/News/Senate-slashes-subsidies-on-petrol-kerosene-20150226

It's alright

Without those criminals who defrauded the Nation spending time behind bars, then we are not interested in any face-saving gimmicks. Over N1.2trillion was spent in 2011 alone as excess for Subsidy Payments, we also know the names of those who perpetrated this acts - Why are they not in jail? Why has Jonathan swept it under the carpet? Why are they using bureaucracy to mumble the whole thing?

Jonathan must go. His burden of Corruption is too heavy. We want turn a new leaf. Vote for Change. Sai Buhari.

Too late...
Does this mean that subsidy is now gone? Or low provision?

This government sef

no be gas dem dey use

Expect APC to compaign with this news.
In other news.
How you living Mr Ayo Fayose for exposing APC lies and propaganda?
Ans: In Mansion and Benzes giving headache to APC and it feels stupendous.
How you feeling Mr Femi Fani Kayode for dumping APC?
Ans: Am feeling good like never before.
APC is dead and is on the news.
How do you feel going back to PDP Mr Barcanista?
I feel at home.
Is been a long time coming and am glad am finally home.
Just like the biblical prodigal son i've realised my mistakes and gone back to PDP.
In Jonathan we have seen real and positive change.
Vote Wisely GEJ 2019

The oil goddess will never obey that slash she will say Yaradua told her etc