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Tuesday, April 23, 2024

Reps Insist On $79 For Oil Benchmark

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Teddy Oscar, Abuja

 

The House of Representatives on Tuesday expressed its determination to stick to the $79 per barrel of crude oil it earlier declared for the 2014 Budget benchmark.

 

Recall that the Conference Committee between the House and the Senate on Monday begun work to harmonise the oil benchmark price for the 2014-2016 Medium Term Expenditure Framework (MTEF).

 

But addressing the pressing on Tuesday, after an executive session of the House, Victor Afam Ogene, deputy chairman, Committee on Media and Public Affairs, also denied rumours that members were given some dollars to go the way of the Senate, which approved $76.5 per barrel of crude oil.

 

Ogene, however, hinted that there is room for the committee members from the House is at liberty to take a decision of its own.

 

“Of course, the arguments centred on the $76.5 per barrel of crude as benchmark for 2014 Budget. There are also those, who are insisting on the $79 per barrel. Like you know, the position of the House as we speak is $79.

 

“As we speak, $79 is the position of the House, but several members, in their own wisdom, also decided that we should give the committee an open mind to go for that kind of negotiation because, if you stick (to) one particular price, it’s like foreclosing discussions.

 

“So, if there are superior arguments or fresh facts that would be put before the committee, regarding why there has to be a shift, I’m sure the committee is better informed now to take a decision at the Conference Committee level. But of course, whatever they come up with, they would have to report back to the House for ratification,” he added.

 

Ogene, who rubbished the allegation of dollar bribe, said that it was only a blackmail against the House.

 

“If money went round in the Senate, I’m not a senator, and I’ve not read any such report. People, who said that we were fighting… in fact, I’ve not seen any dollar. So, if money has come from anywhere, the question should be put to the person sending the money. I will be glad to get money on behalf of my people, if you have a leeway to the person sharing the money.

 

“All these talk about money… it is always the trend, but I’ve always insisted that we cannot be blackmailed as a House. If the attempt to make us stand at a particular benchmark, at a particular figure is to blackmail us, then I wonder why a House, which decided on $79 would be the same that received money, and is keeping it. I mean, it does nor correlate. It does not add up, at all. If we got money, then it would be quite easy to approve it at $76.5. So, why would there be all these talk?” he asked.

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