“Keeping monies in Natural Resources Development Accounts is more of waste than serving critical purposes.”
The Senate on Tuesday increased the 25 dollars per barrel oil price benchmark proposed by the executive in the revised Medium Term Expenditure Framework and Fiscal Strategy Paper forwarded to it for approval.The resolution was sequel to the consideration and adoption of report of its Committee on Finance mandated to work on the revised MTEF/FSP documents by the executive during plenary.
Other assumptions cum proposals retained include N5.09 trillion Federal Government’s revenue, N10 .51 trillion proposed expenditure, N4.95 trillion fiscal deficit, N4.17 trillion new borrowings . In his remarks, President of the Senate, Ahmad Lawan urged the Senate Committee on Privatisation to liaise with the Bureau of Public Enterprise in ensuring that the projected N260 billion from proceeds of privatised agencies was realised and accordingly used to fund the budget.
According to him, such accounts at this time of scarcity of funds to finance the budget are not all that necessary.
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