NASS increases 2018 budget from N8.612tn to N9.120tn

NASS increases 2018 budget from N8.612tn to N9.120tn

NASS increases 2018 budget from N8.612tn to N9.120tn

The amount represents an increase of N508 billion over the N8.612 trillion submitted by President Muhammadu Buhari to the joint session of the National Assembly on the 7th November, 2017.

The Senate has received the long-awaited report on the 2018 Appropriations Bill from its Committee on Appropriations.

In the House of Representatives, the chairman of its Appropriation committee, Hon.

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Breakdown of the budget, which was laid before both Chambers Tuesday, shows that the sum of N530,421,368,624 is for statutory transfer; N2,203,835,365,699 is for debt service.

It would be recalled that President Buhari had submitted the proposal to a joint session of the National Assembly on November 7, 2017, with a call on the legislature to quickly pass the budget and return to January to December budget cycle.

Senate President, Bukola Saraki had on May 4, 2018 assured the leaders and elders from four of the six geo-political zones of the country, under the aegis of Southern and Middle-Belt Leaders Forum that paid a visit to him and other principal members of the senate that the budget was going to be passed last week.

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Expeditious consideration for the 2018 budget estimates by both chambers of the National Assembly ran into troubled waters in December previous year when the federal lawmakers observed that details of implementation of the capital components of the 2017 budget were not made available by the executive.

Meanwhile, NAIJ.com had previously reported that Nigerian Senate rescheduled its planned deliberations on the proposed 2018 budget submitted by President Muhammadu Buhari. "Our cooperation should not be misread as weakness or not knowing what to do. And we are going to consider it the same day", the lawmaker who doubles as Senate spokesperson, said while addressing journalists last week.

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