Petrol Subsidy: FG, States Set For Showdown Over Planned n950bn FAAC Deductions - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (A.M)
February 16, 2022
To this end, it was learnt that the commissioner for finance in all 36
states are expected to meet in the coming days.
President Muhammadu Buhari on Tuesday transmitted the 2022
Appropriation Act Amendment Bill to the National Assembly, seeking
the approval of the federal parliament for a supplementary budget with
estimates totalling N150bn and also sought approval for another
2.557trillion Naira to extend payment for subsidy on petrol.
This implies that about N950bn would be deducted from the accounts of
the states and local governments.
The Chairman, Forum of Commissioners of Finance and Benue State
Finance Commissioner, David Olofu, on Tuesday, said that states of the
federation will continue to have it tough with the decision to redirect
huge amount of money meant for states to subsidy payment.
He said that with the manner the oil industry is being run under the
present administration it shows that NNPC is above the country and
more powerful than the government.
He also slammed the National Assembly which he said has
constitutional oversight on the NNPC but had remained silent.