“Countries around the world have of necessity over-shoot their fiscal thresholds for their economies to survive and thrive.
After the contributions of other lawmakers, the Senate President Ahmad Lawan bemoaned the huge loss of revenue due to high scale oil theft and called for appropriate sanctions against the perpetrators. He referred the bill to the Senate Committee on Appropriation for further legislative process, to report back in four weeks.
During their separate contributions, deputy minority leader, Toby Okechukwu and Leke Abejide expressed grave concerns over the geometrical increase in the fiscal deficit and the huge disparity between the N435/$ proposed exchange rate benchmark and N740/$ at the parallel market as well as the 1.69 million oil benchmark.
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