Reps want oil benchmark at US$60 per barrel

Reps want oil benchmark at US$60 per barrel

The House of Representatives has asked that the oil bench mark for the 2022 budget proposal should be set at US$60 per barrel.

This will be different from the US$57 brought by the executive.

The House also called for zero allocation for government agencies who refused to implement the 2020 budget as appropriated.
This followed a debate on the 2022 budget proposal on the floor of the House on Wednesday in Abuja.

Some members of the House said that since the crude oil is put at US$80 per barrel, the benchmark should be increased to US$60.

Rep Leke Abijide (ADC-Kogi), stated that the benchmark of US$57 per barrel was a bit low, considering the US$80 per barrel as at now.

He added that it should be increased to US$60 dollar per barrel.

According to him, “aside this area, the budget is one of the best ever by the President and it deserve our commendation”.

He also commended the President for making capital projects a priority, while raising concern over the issue of borrowing and the exchange rate.

“With the exchange rate, what I did with my Zonal Intervention Projects (ZIP) last year, I may not be able to do this year because of the exchange rate and that is the only thing to perform in my constituency,” he said.

Rep Alhassan Ado-Dogwa, the Leader of the House, said that the 2022 budget is the highest in history and it is imperative to invest in infrastructure and agriculture.

Others, according to him include education, health, adding that they were the cardinal principle of Buhari’s administration.

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He stated that the legislature, in partnership with the executive, must endeavour to sustain the January to December budget process.

He urged the various Committees to also work on oversight to ensure that the budget passed by the lawmakers and assented to by the executive is implementable.

Rep Onofiok Luke (PDP-Akwa Ibom), commended the House for sustaining the January to Decembet budget implementation and working to ensure a cordial relationship with the executive.

He, however, said that the provision of N50 million for hazard allowance in the 2022 budget proposal for medical officers which was why they went on strike, would not augur well.

He commended the FG for capturing the hazard allowance in the face of COVID-19 pandemic, adding that medical officers were at risk because of their exposure.

“We have had a whole lot of brain drain in the last few years, there is need to up their hazard allowance from N5,000 to something that will boost the moral of medical personnel.


Staff writer III

Staff writer III

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