Reps Want Oil Benchmark at $60 Per Barrel
This will be different from the $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 on the floor of the House on Wednesday in Abuja.
Some members of the House argued that since the crude oil is put at $80 per barrel, the benchmark should be increased to $60.
Hon. Leke Abijide (ADC-Kogi) stated that the benchmark of $57 per barrel was a bit low, considering the $80 per barrel as at now, adding that it should be increased to $60 per barrel.
According to him, “Aside this area, the budget is one of the best ever by the president and it deserves our commendation.”
He also commended President Muhammadu Buhari for making capital projects a priority, while raising concern over the issue of borrowing and the exchange rate.