Buhari Seeks PIA Amendment Two Months After Passage As Lawmakers Step Down MTEF 2022-2024

…Senate Also Received Buhari’s request to confirm board of Upstream Regulatory Commission

The senate has received President Muhammadu Buhari ‘s request for confirmation of
Board members of the Nigeria Upstream Regulatory Commission inline with the provision of section 12(3)
of the Petroleum Industry Act 2021

MTEF 2022

According to the letter Isa Ibrahim Modibbo is expected to serve as chairman of the board,
Engineer Gbenga Komolafe, (Chief Executive)
Hassan Gambo (Executive Commissioner Finance And Accounts,

Mrs Rose C.Ndong (Executive Commissioner , Exploration and Acreage Management)

The board is expected to FasTrack the process of the establishment of the commission

Nigeria’s house of representatives has stepped down consideration of the 2022-2024Medium Term Expenditure Framework and Fiscal Strategy Paper which was billed to be presented and considered by the lawmakers at plenary on Tuesday.

The consideration of the MTEF report which was scheduled on the order paper for the day was set aside as the chairman of the committee on finance James faleke was absent from plenary.

The Committee’s proposals include a benchmark of $57 per barrel for the price of crude in 2022 and 55 dollars in 2023.

The lawmakers are also proposing an oil production of 1.93 million barrels of crude per day as well as an exchange rate of N410.15 to the dollar.

The committee is proposing an expected Gross Domestic Product growth rate of 4.2% while pegging the inflation rate at 13%.

These details are however sequel to late minute changes by the lawmakers.

Also on Tuesday some Retired policemen from across the country on Tuesday besieged the national assembly in protest accusing the government of showing no interest to their welfare after retirement. 

The retirees while protesting at the National Assembly against the Contributory Pension Scheme (CPS), said the scheme since its introduction in 2004 has shortchanged them. 

The retirees complained that they have only been getting a piecemeal of their entitlements under the scheme which has affected their lives and families adversely. 

The police retirees, including men and women, who were at the National Assembly, urged that the Nigerian police force be exempted from the Contributory Pension Scheme.

Meanwhile while the protest was ongoing a bill to amend the pension reform act 2014 to provide for exemption of the Nigeria Police Force from the contributory pension scheme scaled second reading on the floor of Nigerias house of representatives.