Following the lingering fuel scarcity experienced in various parts of the country, President Muhammadu Buhari, has on Tuesday apologized to Nigerians, directing the PPRA to sell petrol at N87 per litre for now.
This is coming barely 24 hours after the Minister of Information, Lai Mohammed, claimed that the Jonathan- led administration was responsible for the fuel scarcity.
President Buhari who made the statement while presenting the 2016 national budget before a joint session of the National Assembly, further assured Nigerians that his government is working hard to end the fuel scarcity plaguing the country.
The 6.07 trillion Naira budget proposal for 2016 was predicated on $38 per barrel oil benchmark; 197 Naira exchange rate.
N1.8 trillion is pegged for expenditure in the proposed budget. About N3.86 trillion would be gotten in 2016 with a deficit of N2.22 trillion about 2.16% of the budget. The government would be borrowing from domestic and foreign loans to augment the budget.
N396bn is voted for education, being largest sectoral allocation. The Health sector gets N296bn while Defence will be allocated the sum of N294bn.
The President added that about 500,000 school teachers would be employed in conjunction with the state government to boost the education sector.
The ceremony which was moderated by Senate President, Bukola Saraki, was attended by Senators, House of Representatives members and other top government officials to include Vice President, Yemi Osinbajo, House of Reps speaker, Yakubu Dogara and Chief Justice of Nigeria, Mahmud Mohammed amongst others.
The National Assembly in a vote of thanks by the Speaker of the House of Representatives, Yakubu Dogara says it is ready to swiftly pass 2016 Budget to quickly reflate the economy.