House of Representatives today, approving N1.7 trillion as subsidy for fuel in 2023, an amount which is at variance with the N3.6 trillion naira approved by the Senate on Wednesday.
This followed the consideration and approval of the report of the House Committee on Finance which worked on the 2023-2025 Medium Term Expenditure Framework and Fiscal Strategy Paper as presented by Deputy Chairman of the committee, Saidu Musa Abdullahi.
Although, the Senate Joint Committees on Finance and National Planning and Economic Affairs, which worked on the fiscal document, had recommended that the cost of petroleum subsidy be capped at N1.7 trillion naira in 2023, the Red Chamber during consideration of the report upheld N3.6trn for subsidy as originally proposed by President Muhammadu Buhari.
Meanwhile, all is now set for Friday’s presentation of the 2023 budget estimate by President Muhammadu Buhari before a joint session of the National Assembly.
Deputy Speaker of the House of Representatives while speaking on the readiness to receive the president at the House, urged all members to be seated by 9am for the event.
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