Leadnaija
The senators inquired with Mr. Wale Edun, the Minister of Finance and Coordinating Minister for the Economy, regarding the benefits of removing the petrol fuel subsidy and the total expenditure allocated for debt servicing in 2024.
During a committee session, Senator Abdul Ningi (PDP – Bauchi Central) requested clarification from the minister regarding the allocation of funds resulting from the removal of the petrol subsidy for the 2024 fiscal year.
The senator asked, “What is the budget performance achieved so far for 2024 fiscal year, particularly in terms of the capital expenditure?
“We haven’t heard from the minister how much has been saved from the removal of fuel subsidy and how much has been expended.
“We also haven’t heard from the minister about the debt servicing. How much have we actually used to service our debts in 2004?
“How much are we expecting to service the debt in 2005?
“Finally, will the Minister of Finance guarantee that the extension of the capital component of the 2024 Budget to June 30, will give the desired results in terms of implementation that had a low percentage now?”
The minister asked the committee for permission to deliver his responses during an executive session, and this request was approved by the committee, led by Senator Solomon Adeola (APC – Ogun West).
Mr Wale said, “Are we in a closed-door session? If we are not in a closed-door session, I will humbly seek for that for detailed explanations on the questions asked.”Tap Here To Read Full Details
