NASS increases 2018 budget from N8.612tn to N9.120tn
16 May, 2018, 06:35
The details of the budget were listed on the Order Paper.
Chairman of the committee, Sen.
Nigeria's National Assembly has concluded plans to pass the harmonized Appropriation bill of N9.120 trillion for 2018 fiscal year.
Six months after President Muhammadu Buhari presented the draft copy of the N8.612 trillion 2018 budget estimates to a joint session of the National Assembly on November 7 a year ago, the Senate on Tuesday, May 15, laid the report.
The 2018 budget was presented on Tuesday at the Senate during plenary which is expected to be deliberated on by the Senators on Wednesday, May 16, 2018, hoping to be passed on Thursday, May 17, 2018.
Similar assurance was also given by the spokesperson of the House of Representatives, Hon Abdulrasak Namdas last week that the Appropriation committee of the House would lay the considered estimates of the budget today for possible final consideration and passage by the House.
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Also, capital expenditure was up from N2.42 trillion to N2.86 trillion, while debt service was also increased to N2.20 trillion from N2.01 trillion.
The MDAs on the other hand accused the federal lawmakers of demanding bribes as conditions for passing the 2018 budget.
But after the compliance of the MDAs in February, appropriation committees of both chambers can be said to have spent the entire Months of March and April to tidy up the whole process.
The Senate is yet to fix a date for the consideration of the budget.
However, Senate President Bukola Saraki attributed the delay in approving the document to failure of heads of ministries, departments and agencies to defend the budget before their respective committees.
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