{"id":57623,"date":"2024-12-03T21:44:06","date_gmt":"2024-12-03T21:44:06","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=57623"},"modified":"2024-12-03T21:44:06","modified_gmt":"2024-12-03T21:44:06","slug":"senate-approves-mtef-probes-nnpcl-over-subsidy-funds","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2024\/12\/03\/senate-approves-mtef-probes-nnpcl-over-subsidy-funds\/","title":{"rendered":"Senate Approves MTEF, Probes NNPCL Over Subsidy Funds"},"content":{"rendered":"<p><strong>By Adenike Lawal<\/strong><\/p>\n<p>Ahead of President Bola Tinubu&#8217;s 2025 Appropriation Bill presentation, the Senate has approved the 2025\u20132027 Medium Term Expenditure Framework (MTEF), and Fiscal Strategy Paper.<\/p>\n<p>This followed a report from its joint Committees on Finance and National Planning, led by Senator Sani Musa (APC, Niger East).<\/p>\n<p>The Senate also launched a probe into allegations that the Nigerian National Petroleum Company Limited (NNPCL), withheld N8.48 trillion in petrol subsidy payments and failed to remit $2 billion in taxes to the Federal Government. Committees on Finance, Petroleum (Upstream and Downstream), and Gas will verify unremitted revenues from petrol sales between 2020 and 2023 and review agreements involving NNPCL and other agencies to reconcile remittances.<\/p>\n<p>The Senate set fiscal assumptions in the MTEF, including an exchange rate of N1,400 per dollar and oil production targets rising from 2.06 million barrels per day in 2025 to 2.35 million bpd by 2027.<\/p>\n<p>The N47.9 trillion budget for 2025 includes projected revenues of N34.82 trillion and borrowings of N9.22 trillion.<\/p>\n<p>Senators called for transparency and urged measures to support manufacturing, increase taxation on the wealthy, and ensure efficient refinery operations.<\/p>\n<p>These efforts reflect a push for fiscal discipline and accountability.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Adenike Lawal Ahead of President Bola Tinubu&#8217;s 2025 Appropriation Bill presentation, the Senate has approved the 2025\u20132027 Medium Term Expenditure Framework (MTEF), and Fiscal Strategy Paper. This followed a report from its joint Committees on Finance and National Planning, led by Senator Sani Musa (APC, Niger East). The Senate also launched a probe into [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":57624,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[172],"tags":[],"class_list":["post-57623","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/57623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=57623"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/57623\/revisions"}],"predecessor-version":[{"id":57625,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/57623\/revisions\/57625"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/57624"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=57623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=57623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=57623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}