President Goodluck Jonathan has delegated the Minister of Finance, Dr. Ngozi Okonjo-Iweala, to put the estimates of the 2014 finances earlier than the nationwide assembly.
that is coming simply as each the Senate and home of Representatives have settled their variations on the crude oil benchmark price to be adopted for the price range by way of in the end settling for $77.5.
The PUNCH had exclusively pronounced on Wednesday that each chambers of the national assembly had settled for $77.5 following series of reconciliation meetings over the matter.
Jonathan communicated his resolution to delegate the minister to lay the budget estimates in letters he wrote the Senate and the house of Representatives on Wednesday.
on the house, the Speaker, Mr. Aminu Tambuwal, learn the brief letter to contributors right through Wednesday’s session wherein individuals also recommended $77.5 because the crude oil benchmark for the funds.
The President’s letter did not specify the date the finance minister would function the task of laying the estimates sooner than a joint session of both chambers.
It used to be speculated that the minister would perform the venture lately (Thursday), the identical day the lawmakers might be continuing on their Christmas and New 12 months break.
members of the house also licensed the controversial 2014-2016 Medium time period Expenditure Framework on Wednesday.
This followed a closed-door session, where they studied the report of the conference Committee on the MTEF that sat with the Senate to harmonise the oil benchmark figures.
it’ll be recalled that Jonathan at first proposed $74 as the oil benchmark. however, the Senate raised it to $seventy six.5, whereas the house went for $seventy nine.
The completely different figures led to a dispute between the two chambers on the one hand, and Jonathan on the other.
makes an attempt to harmonise the figures had failed prior to now as the home insisted on its figure.
This delayed the presentation of the finances estimates by using Jonathan. On two events, his scheduled visits to the national meeting have been cancelled in November.
At a point, the convention committee adjourned sine dine (indefinitely), but reconvened on Tuesday to agree on $77.5.
participants of the home, who had insisted on $seventy nine, later backed down and emerged from the closed-door session to approve $77.5
The PUNCH had reported exclusive ultimate week that the 2 chambers would in the end settle for $seventy seven.5 as the oil benchmark.
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