Fuel Subsidy Claims Soar to N521billion.

  Fuel subsidy claims contained in the 2015 Supplementary Budget submitted to the National Assembly by President Muhammadu Buhari has leaped from N413 billion to N521 billion.
The original N413 billion subsidy claim included N120.552billion outstanding claims from 2014 and N292.8 billion to cover claims from January to September.
Permanent Secretary, Ministry of Petroleum Resources, Jamila Soara, who represented the Minister of State, Emmanuel Ibe Kachikwu, intimated the Senate Committee on Appropriation that is considering the Supplementary Budget that another N108 billion will be required to cover fuel subsidy for October to December.
Soara told the committee that Kachikwu was in Lagos trying to convince major oil marketers to start importing products.
She noted that the issue of subsidy payment was being handled by the Federal Government.
When She was asked why the supplementary oil subsidy budget did not cover October to December, Soara said her ministry had drawn the attention of the Budget Office to the fact that the proposal for the last quarter had not really been captured.
According to her, the outstanding subsidy claim for October to December is N108 billion.
The N108 billion rise will shoot up the supplementary budget proposal earlier submitted to the National Assembly from N465.69 billion to N574 billion.