President Muhammadu Buhari has made request for the approval of a supplementary budget to cover mainly the 413 billion naira ($2.1 billion) of debt owed to fuel importers under a subsidy scheme, the presidency said on Wednesday.
Buhari asked the Senate to approve 465.64 billion naira to cover subsidies, funding for the military operation Lafiya Dole against the Islamist insurgency in the northeast, prisoner rations and pay for out-going and incoming legislative aides, a letter to the Senate said.
Pushing through the supplementary budget will be key to resolving fresh fuel shortages and closing the book on debts still owed to importers from 2014 and this year.
So it appears no respite yet in sight for fuel scarcity as it will take approval of the request for normalcy to return in the fuel supply chain.
-Emmanuel Ikechukwu
