The committee set up by the President, Major General Muhammadu Buhari , to assess the impact of coronavirus on the 2020 budget submitted an interim report to him on Friday.
Other members are the Minister of State, Petroleum Resources, Mr Timipre Sylva; Governor of the Central Bank of Nigeria, Mr Godwin Emefiele; and the Group Managing Director of the Nigerian National Petroleum Corporation, Mr Mele Kyari.Ahmed disclosed to State House Correspondents on Friday that after meeting with Buhari, he again directed the panel to make further consultations with a wider segment of Nigerians before coming up with recommendations on what actions to take.
The budget of N10.59tn came under implementation challenges after its $57 crude oil benchmark became unsustainable due to a fall in crude price to around $31 earlier in the week. However, it was gathered that a final decision had not been reached on what might be the new oil benchmark because of the frequent fluctuations in the barrel price.
“So, what is causing the delay is to see whether the price will be stable at a range for a while, and a recommendation can be made on the realistic benchmark.Further investigations showed that members of the committee had also been preoccupied with many other state functions, particularly Ahmed and Emefiele, to finalise conclusions.
When our correspondent reached the finance minister earlier to confirm whether her committee had arrived at any final decisions, Ahmed simply replied that the members were still working.Investigations indicated that following normal procedure, any proposed adjustments to the budget would not take effect until they had been passed by the National Assembly.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coronavirus: FG not contemplating travel ban, says Minister
Read more »
Coronavirus: FG warns against handshake, hugging – Daily TrustIn lieu of the coronavirus, the Minister of Interior, Rauf Aregbesola, yesterday warned Nigerians against handshake and hugging. He gave the warning yesterday at the ground-breaking ceremony of a 3000-capacity custodial centre in Karshi, Abuja . “Don’t shake hands again, don’t hug for now except your family members, maintain three feet distance between you and …
Read more »
Coronavirus in Nigeria: FG gives update on imposing travel ban - Daily Post NigeriaNigeria Government has said there are currently no plans to impose a ban on travellers from any country, over the spread of the coronavirus. The Minister
Read more »
Second Patient Who Tested Positive for Coronavirus Now Negative, Says FG - THISDAYLIVEBy Martins Ifijeh The Minister of Health, Dr. Osagie Ehanire has announced that the second patient who tested positive to Coronavirus last week has returned negative as the virus is no longer in his system. Ehanire, who spoke during a press briefing in Abuja Friday, said the viral load in his body was now insignificant, …
Read more »
Second coronavirus case may be discharged in few days – FGThe second confirmed case of COVID 19 in Nigeria may be discharged and allowed to go home in few days after testing negative to the virus, the Minister...
Read more »
Hunger killing more Nigerians than coronavirus, Sultan tells FG
Read more »