Senate joint panels, experts to discuss dwindling oil revenue

The Senate on Tuesday asked four of its standing committees to immediately start discussing with relevant government agencies and experts in economy with a view to addressing the negative effects of t

he dwindling oil revenues in recent days.

The country had pegged its oil benchmark at $57 per barrel but the outbreak of the coronavirus had led to the crash of crude oil price to $35. The President of the Senate, Ahmad Lawan, has, therefore, directed the committees on Finance, National Planning, Appropriation, and Petroleum Resources to start working out the solution to the unfortunate development.

The committees are expected to meet with relevant Federal Government agencies and experts to find out what the government could do to get out of the looming economic crisis.The decision was taken following the point of order raised on the issue by the Leader of the Senate, Yahaya Abdullahi.

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