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2016 Budget To Be Passed March 17 – Appropriate C'ttees

THE National Assembly Joint Committees on Appropriation, yesterday, assured that the report of the 2016 budget would  be laid in the two houses on March 16 this
year and passed the following day.
The Joint Committees will also interface with the Ministers of Finance and Budget and National Planning, Kemi Adeosun and Senator Udoma Udo Udoma as well as the Minister of State for Petroleum and Group Managing Director of Nigerian National Petroleum Corporation, NNPC, Dr Ibe Kachukwu, today, to reconcile some differences in the budget document. 
Also, Crystal news reliably gathered that the Appropriation Committees may retain the $38 per barrel benchmark, considering assurances by stakeholders that the global oil price would appreciate to $45 per barrel within the fiscal year. Addressing journalists, yesterday, both chairmen of the two legislative chambers, Senator Danjuma Goje and  Abdulmumini Jibrin, said the various committees of the two houses had submitted their reports to the appropriation committees, while the two chambers had also done the harmonisation of the budget reports. They said the meeting today was to engage the executive and the relevant stakeholders with a view to ensuring that all grey areas were sorted out to ensure that the budget to be passed will be implementable. They further assured that they would produce a budget that would make life better for Nigerians. The budget passage was postponed earlier by the National Assembly due to discrepancies inherent in the budget. Meanwhile, reliable sources within the committees told Crystal News that though there was apprehension that $38 benchmark, opon which the budget was predicated, was not realisable going by the drop in the oil price, the joint committees decided to retain the benchmark because of the assurances in several meetings with the Minister of Petroleum that the price will soon go up to $45 per barrel.