“We’ve gotten to a point where we don’t care whether oil prices will be sustained at the level that they have recently risen to. We’ve been able to balance our budget at $45-$46/bbl and we’ve got to learn to live comfortably at that level.”
Browsing: Mrs. Kemi Adeosun
The measures that will be implemented through 2021, are aimed at improving transparency, service delivery, and re-establishing investor confidence, and hence, investment in the sector. It will also accelerate electricity access including off-grid public private partnerships as an important component of the PSRP.
“We are sending out thousands of letters to those in the high risk categories. But our advice is that every person and every company should do a self-assessment and take advantage of VAIDs to correct any under declaration, irrespective of whether they get a letter,” she added.
“We discover oil everyday and we explore it and if we calculate the overall oil revenue projection for 2018, it is almost 60 per cent, so we need to expand the frontiers of oil anywhere we find it in the country.”
Oscarline Onwuemenyi 09 November 2017, Sweetcrude, Abuja – For the first time in the Nigeria’s chequered budgeting history, the Federal…
“With just 2 million barrels of oil per day and over 180 million people, simple mathematics tells us that 90 Nigerians share a barrel of oil compared to 3 Saudis, 1.44 Kuwaitis and 1.69 Qataris. With oil at just 10% of GDP, Nigeria simply does not fit into the mould of the traditional oil economies.”
Speaker of the House of Representatives, Hon. Yakubu Dogara, who read the letter at plenary on Thursday, noted that President Buhari requested to present the budget to a joint session of the National Assembly at 2pm on Tuesday.
The minister said the Council will liaise with the National Assembly to determine when the president will submit the draft estimates for the consideration of the two chambers.
“Federal executive council (FEC) meeting will hold tomorrow, Thursday October 26. Agenda is #Budget2018, which is currently being finalized,” the tweet read.
She said, “We have a major energy infrastructure gap to meet the needs of industrialization. Providing access to energy to all parts of Nigeria, both urban and rural, is a priority. If we succeed, we estimate that this could unleash the development potentials of two-third of our population of 180 million.”
