'This committee will continue to engage with people in government as well as people outside of government where we can be abreast with all the
The Senate on Tuesday, constituted a joint committee to engage relevant federal ministries on the recent oil price crash.The brent crude oil crashed by about 30 per cent, hours after the world’s top oil exporter, Saudi Arabia, began a global oil fight. This has sent Nigeria into a revenue crisis
Giving the oil crisis, the government may not be able to finance the budget – having only about half of what it projected in revenue for 2020. Mr Yahaya on Tuesday commended the executive for setting up the committee to look into the issue. He emphasised the need for the Senate to do the same. While he was happy that the Senate has worked hard to pass the budget in good time, he worried that it is being threatened.
“As a parliament, we need to be proactive and continue to be up to date with the situation so that we are also able to take a decision when it will matter for us to take a decision,” he said. “So, the committees on Finance, National Planning and Appropriation will now form the joint committee and the finance committee will be the lead committee. You will engage with those in government – the ministry of finance, ministry of national planning and any other ministry that you feel you need to have engagement with for necessary information.
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