The Senate, yesterday, opposed moves by its Committee on Finance to reduce the N3.6 trillion proposed for fuel subsidy in the 2023 budget by the executive to N1.7 trillion.
President Muhammadu Buhari had in the 2023-2025 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), proposed N3.6 trillion for fuel subsidy from January to June in 2023.
But the Senate Committee on Finance, in its report on the proposals presented for consideration by the Senate, recommended N1.7 trillion for fuel subsidy for the entire 2023 which was, however, rejected by sustaining the earlier proposed N3.6 trillion earmarked for subsidy.
Olamilekan Adeola-led committee’s recommendation for $73 per barrel oil price benchmark for the proposed N19.76 2023 budget was, however, approved against $70 per barrel proposed by the executive in the MTEF/FSP documents.
Recommendation on exiting of 10 out of the 63 government owned enterprises (GOEs), made by the committee , was also approved by the Senate .
The affected GOEs are the Nigerian Communication Commission, Corporate Affairs Commission, Nigeria Port Authority (NPA), Joint Admission and Matriculation Board and Nigerian Maritime Administration and Safety Agency.
Meanwhile, Senate, yesterday, confirmed the nomination of 19 resident electoral commissioners (RECs) for the Independent National Electoral Commission (INEC).
It also confirmed the nomination of Muhammad Lamido as executive commissioner, Finance and Accounts for the Nigerian Upstream Petroleum Regulatory Agency (NUPRA).
The confirmations were made sequel to the consideration of the reports of its Committees on Electoral Matters, and that of Upstream Petroleum Sector respectively.
Presenting his report, Chairman of Senate Committee on Electoral Matters, Kabiru Gaya said the nominees assured the committee of their non-partisanship, non-membership of any political party, and promised to discharge their responsibilities diligently according to the laid down laws.
