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Services Front Page Back Page Advert Rates Subscription News Home National International Business News Abuja Reports Sports Politics Sun Girl Editorial Editorial Issues Letters Opinion Columnists Community Standard Guestbook View Guestbook Sun Chatroom   Features Apettit Arts BlockBuster CEO Magazine Celebrity Fashion City Sun Crime Watch Covert Choice CyberSun Enterprise Everyday Heroes Exquisite Property Fashion & Celebrity Fashion & Beauty Favourite File Health Magazine How I write Life Style Living Mafia Series Man in the street Man in the pulpit Managing a Law Firm Me & My God Media People Money Motoring Power Game Romance Romantic Faction Senior Citizen Showtime Smoking Guns Sun Splash Sunlight of Islam Travels Window of the world Window on widows Woman of the Sun Women in Business Women & Me Videoscope Weekend Sun Saturday Sun Sunday Sun Weekend Sports Weekend Cartoons Company Profile About Us Management Contact Us   Nigeria rakes in $2.5bn from excess crude oil By JAMES OJO, Abuja Friday July 30, 2004   National Index   As the price of petroleum continues to gallop in the World market, the nation's excess money from crude oil has hit a whooping $2.5 billion, says the House of Representatives. This is according to briefing it got from the Ministry of Finance. Chairman House committee on Media and Public Affairs, Hon Abike Dabiri, told Correspondents Wednesday after a stormy executive session that the breakdown of the amount would be made public when it is converted to local currency using the current exchange rate of N132 to one dollar. She said the excess fund would remain in the special account as nobody has the power to spend a dime from it without the approval of the National Assembly. Hon Dabiri who denied rumour of a crack in the House said it was not true that the leadership has collected money meant for members, saying that the National Assembly had not received outstanding allocations not to talk of the vote for the current quarter. According to her, the House Deputy Chief Whip was liaising with the MInistry of Finance to get the necessary cash backing as money meant for the National Assembly is usually in one paper. While admitting that releasing money to the legislative arm or any other government agency in piecemeal was against the spirit and letter of the 2004 budget, she however gave assurance that whatever belongs to the members would get to them anytime. Specifically, Dabiri said the National Assembly was broke and faulted the non- release of total budgetary allocations to the National Assembly which she noted was affecting the operations of the House.       HOME | ABOUT THE SUN | SPORTS | POLITICS | NEWS | COLUMNISTS | CONTACT US I ADVERT RATE © 2004 THE SUN PUBLISHING LTD. This service is provided on The Sun Newspapers' standard terms and conditions in accordance with our Privacy Policy. To inquire about a licence to reproduce material and other inquiries, Contact Us.

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