Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Buhari, Reps may clash over 2016 budget

26 December 2015, 16:00

Abuja - The 2016 budget proposal presented to the National Assembly by President Muhammadu Buhari on Tuesday may re-enact a fresh round of bickering between the National Assembly and the Presidency, reports Punch.

The fresh bickering is over the $38 oil benchmark for the budget.

Buhari had during the presentation defended the $38 oil benchmark, saying all assumptions were taken into consideration by economic experts before arriving at it.

While the members of the Senate are on the same page with Buhari, members of the House of Representatives are pushing for a downward review of the benchmark following the prediction of the International Monetary Fund (IMF) that the oil price would fall below $20.

Both chambers had previously approved $38 per barrel, which was proposed by the executive as oil benchmark in the Medium Term Expenditure Framework (2016-2018).

Also read: Fani- Kayode blasts Buhari over 2016 budget

But in a new twist, members of the House are unlikely to continue to stick to the $38 proposed as the crude oil benchmark for the 2016 budget.

They noted that when the President brought the MTEF, the benchmark was pegged at $38 but it is now $35, far below the benchmark.

They added that all assumptions on the 2016 budget have changed

The stated that the Presidenti himself admitted while presenting the budget estimates on Tuesday that a barrel of crude was $32, a figure that was $6 below the budgeted $38.

Members of the key committees of the House on Finance, Appropriations, Aids /Loans/ Debt Management that would work on the budget in January, were already exchanging ideas on realistic oil benchmark.

Read more at Punch.

- News 24


Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...