Nigeria Senate increases 2018 budget estimate

National-assembly-abuja-building

President Muhammadu Buhari had in November 2017 presented to a joint session of the National Assembly a budget estimate of N8.612 trillion for the 2018 fiscal year.

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.

The National Assembly has increased the 2018 budget from the initial N8.612 trillion to N9.120 trillion.

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

A member of the Senate Committee on Appropriations, Aliyu Sabi Abdullahi, had last week assured that both legislative chambers would pass harmonised budget this week.

The House proposed N2.86tn as contribution to the Development Fund for Capital Expenditure.

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The post Finally, Senate receives 2018 budget after six months delay appeared first on BusinessDay: News you can trust.

Specifically, the Senate on February 14 this year, read the riot act to heads of the agencies who had not appeared then.

"Definitely, we can mandate the Ministry of Finance to ensure that they do not further order releases because they are breaking the law".

The Senate is yet to fix a date for the consideration of the budget.

Speaking during today's House sitting, Yusuf Lasun, Deputy Speaker of the House of Representatives, said the lawmakers are expected to pass the budget on Wednesday or Thursday.

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