Shehu Sani Reacts As National Assembly Approves N4trn For Petrol Subsidy

Former Kaduna Central lawmaker, Senator Shehu Sani has reacted to the N4trn approval by the National Assembly for petrol subsidy in Nigeria.

His reaction comes after the report by Naija News that the House of Representatives on Thursday approved the N4 trillion for subsidy payment on Premium Motor Spirit (PMS) popularly known as petrol as requested by President Muhammadu Buhari.

President Buhari had sent in the request as part of the revision of the 2021 fiscal framework.

The President had requested the lawmakers to approve an additional N3.557 trillion in addition to the N442.72 billion provided in the 2022 budget for subsidy.

Members of the Green Chamber also set a $73 oil price benchmark and approved the reduction in crude oil production quota from 1.8million barrels per day to 1.6 million barrels per day.

Similarly, the Nigerian Senate also approved the request of N4 trillion for subsidy payment.

During plenary on Thursday, the Red Chamber approved the president’s request after considering reports from its Committee on Finance.

The committee revised the 2022 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to accommodate the request.

Reacting, Senator Sani took to his Twitter account where he wrote: “Four trillion naira for petroleum subsidy; Nigeria we hail thee.”

Four trillion naira for petroleum subsidy;Nigeria we hail thee.

— Senator Shehu Sani (@ShehuSani) April 14, 2022