Nigeria Content Online

There are
indications that members of the House of Representatives have agreed to
a proposal by President Goodluck Jonathan to cut down the crude oil
benchmark in the 2010 Budget from $67 to $57 per barrel.

Mr Jonathan had
requested the lawmakers to scale down the benchmark to $57 per barrel,
which was the original proposal made in the 2010 Appropriation Bill
forwarded to them by late President Umaru Yar’Adua last November.

The request
followed the outcome of series of meeting the president had with the
leadership of the National Assembly. Both parties also agreed that the
executive arm should send in budget amendment bill to reflect the areas
they agreed upon.

The president was
said to have expressed dissatisfaction with the increases made by the
federal lawmakers which brought the total budget figure to N4.9
trillion with very little revenue to finance it and asked that it
should be reduced by 40 percent. At an executive session which lasted
for about 90 minutes, the lawmakers reportedly agreed to Mr Jonathan’s
proposals after an exhaustive discussion on the issue. The lawmaker had
dissolved into the executive session to discuss the media reports on
their demand for increase in their allowances.

A source at the
meeting said the Appropriation Committee chairman, Ayo Adeseun informed
members that it was expecting the adjustment budget between Tuesday
evening and Wednesday morning and appealed that effort should be made
to approve it immediately.

It was learnt that
the lawmakers resolved that there should be reduction in the revenue
that would come non oil sector during the fiscal year.

Adjust the budget

Ita Enang, chairman
of the rules and business, confirmed that the House and the Senate
agreed with the Presidency to adjust the budget.

He said the budget amendment bill will be given accelerated
treatment whenever it comes. Mr Enang also said that the issue of the
consolidation of salary of the National Assembly staff as well as the
pending number of bills in the House was also discussed at the session.
According to him, the House delegation, which will meet with the Senate
on the issues would be led by its leader, Tunde Akogun and will include
Henry Dickson and himself.