The Nigerian Federal House of Representatives on Wednesday passed the N161.617bn supplementary budget for payment of fuel subsidy without any alteration.
The fuel subsidy bill was passed by the Committee of Supply, minutes after the lower legislative chamber resumed from more than two hours of closed-door sessions and series of meetings by various geo-political caucuses ahead of Wednesday plenary, which commenced at about 2pm.
According to Chairman of the House Committee on Appropriation, John Enoh who presented the report of the Committees on Finance, Appropriation, Petroleum Resources (upstream) and Petroleum Resources (Downstream), the committee resolved to approve the request after the Petroleum Products Pricing Regulatory Agency (PPPRA) — the body saddled with the responsibility of regulating petroleum support fund — provided data and information on fuel subsidy for year 2012.
He disclosed that the sum of N236bn arrears for 2011 was part of the N888.1bn appropriated for payment of subsidy in this year’s budget, adding that the actual sum of N451bn was required to offset the 2011 subsidy arrears.
However, ENoh said that the sum of N161.671bn would be required to pay the certified fuel subsidy bill till date.