Christmas/New Year Celebrations: Jonathan Seeks N161bn To Avert Fuel Scarcity

President Goodluck Jonathan yesterday sought approval from the National Assembly for a supplementary budget of N161.6bn in the 2012 fiscal period, an amount meant to avert fuel scarcity during the festive yuletide.


 



Jonathan’s request, coming barely two weeks to the end of 2012 fiscal year, was conveyed in a letter read on both floors of the Senate and House of Representatives by Senate President David Mark, and Speaker Aminu Waziri Tambuwal respectively.

The president explained that the additional request emanated from a forensic audit which revealed that the N888.1billion provided for fuel subsidy in the 2012 budget was not enough.
He added that while the sum of N880.1billion had been paid out for subsidy, leaving a balance of N7.7billion.

  “You will recall that, as part of the 2012 budget framework, a provision of N888.1 billion was made for payment of fuel subsidy for the nation. I wish to intimate the distinguished Senate of the fact that, following the forensic audit carried out, the provision for fuel subsidy in the 2012 budget was underestimated. “As at now, the sum of N880,264,243,683:61 billion has been paid out, leaving a balance of N7, 735, 756, 316: 39 billion.

“In order to accommodate the outstanding arrears resulting from the forensic audit exercise and the remaining period of the 2012, an additional sum of N161, 617, 364, 911billion over and above what was programmed in the 2012 framework is required.

“Given the need to maintain a steady flow of petroleum products, especially in the run-up to the festive season, it is my hope that the distinguished senators will kindly accord this request their traditional expeditious consideration and approval,” he said.