Nigeria Sets New Oil Benchmark
The government and lawmakers may be poised for a confrontation as the Senate has rejected the government's benchmark of U.S.$75 in the 2013 budget and raised it to a higher rate of U.S.$78 per barrel.
InFocus
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The row over the oil benchmark for the 2013 budget continues with the House of Representatives calling on the Minister of Finance, Ngozi Okonjo-Iweala, to either obey the law or ... Read more »
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The House of Representatives say it would not touch the 2013 budget until it was satisfied with the implementation of the 2012 budget. Read more »
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The National Assembly is now becoming more serious by objectively looking into the budget, presented by Mr. President. Jerking up oil benchmark for 2013 budget to §78 US Dollars as against the lower level recmmended by the Presidency is another way of being objective, so that, the Legislature would not become a rubber stamp of the Executive. The subsidy re-investment at the Federal Government, State Government, Senatorial and Local Government levels is a fallacy. It is a way to the continuation of connering our commonwealth by the few in government, that is, people who are less than 1% of our population. As a grassroot Man, I can attest to the fact that, more than 80% of Nigerians are not feeling the inpact of governance since the inception of democracy in 1999. The poverty level of citizenry continue to increase inspite of the bourgeoning annual budgets. Government had not planned or executed any meaningful programme for the masses at all levels of Governance. What we have are mere cosmestic arrangements to deceive Nigerians. The level of corruption, leadership arogance and profligacy are the bane in Nigeria. What is even more laughable was the action of Finance Minister - Dr. Ngozi Okonjo-Iweala, who junketted to Tokyo, Japan to mount a soap box for advocacy and campaign for §75 US Dollars benchmark. Do we need a foreign land as platform to articulate Nigerians about the necessity for her recommended benchmark to Nigeria's National Assembly? Instead of staying at home to make necessary contacts for the actualisation of Government plans and execution, She jumped into the next available plane for Japanese Campaign. Apart from this action of hers being suspect, it is also arogant of her to throw the brickbats to her home country far away in Tokyo. We can still make Nigeria work, provided we are patriotically serious as a Nation. But for now, Nigeria wobbles as Citizens groan in painful and abject poverty, in spite of the abundant resources in our Country. Even though the budget is flawed like the past ones, without compromise, the National Assembly should be pro-active in its oversight functions by putting the Executive on its Toes for an effective, and judicious implementation of Nigeria's Budget, which can truly alleviate or reduce Poverty to a tolerable level. By Isunola Asi Anishere (Chief).