The Nigerian Senate has cautioned President Bola Tinubu against illegal spending and advised him to pursue a supplementary budget for the Compressed Natural Gas initiative, worth N100 billion.
The Senate’s Committee on Gas, led by Senator Jarigbe Jarigbe, urged the executive branch to swiftly present a 2023 Supplementary Budget to the National Assembly to kickstart the Compressed Natural Gas project.
This call follows President Tinubu’s recent announcement of measures to alleviate the effects of fuel subsidy removal on Nigerians.
The lawmakers emphasized that extra-budgetary spending is against the law and that the National Assembly’s approval is required for such expenditures.
The Committee’s chairman, while commending Tinubu for the CNG initiative, cautioned that spending taxpayers’ money without legislative approval would be illegal, especially for projects in the gas value chain.
Senator Jarigbe also highlighted the need for funding workshops and training related to CNG adoption.
He stressed that the President should not engage in extra-budgetary spending, as it would contradict the law.
Jarigbe assured that the National Assembly, under the leadership of Senate President Senator Godswill Akpabio, is prepared to support Tinubu’s ambitious programs.
He suggested that a 2023 supplementary budget would be the appropriate way forward, avoiding the ‘Ways and Means’ approach used by the previous administration, which had been a contentious issue within the Central Bank of Nigeria.
In his Independence Day speech, President Tinubu promised to alleviate the hardships faced by Nigerians.
He outlined the deployment of cheaper and safer CNG buses across the nation, which would operate at a fraction of current fuel prices, thereby reducing transport fares.
Additionally, Tinubu mentioned plans to introduce new CNG conversion kits and establish training facilities and workshops nationwide to provide new opportunities for transport operators and entrepreneurs.
