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

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

Meanwhile, NAIJ.com had previously reported that Nigerian Senate rescheduled its planned deliberations on the proposed 2018 budget submitted by President Muhammadu Buhari.

The presentation of the report was seconded by the Chairman, Senate Committee on Public Accounts, Senator Matthew Urhoghide, PDP, Edo South.

Details in the report indicates that the National Assembly increased the 2018 budget from N8.6 trillion to N9.120 trillion.

President Buhari had on November 7 presented N8.6 trillion budget estimate to the joint session of National Assembly but a report presented to the House by the Committee on Appropriations was raised to N9.1 trillion.

The report of the Senate Committee on Appropriations chaired by Senator Danjuma Goje is number six items on today's order paper.

More news: Co-pilot 'sucked halfway' out of cockpit on Chinese airline after window breaks

Meanwhile, the House of Representatives has resolved to pass the budget at noon today and the breakdown shows that the sum of N530.42 billion is for statutory transfer; N2.20 trillion for debt service.

The sum of N199 billion is for sinking fund for maturing loans; N3,516,477,902,077 is for recurrent (non debt) expenditure while N2,869,600,351,825 is for development fund capital expenditure.

Therefore, the Senate on February 14, 2018, gave the MDAs one-week ultimatum to submit details of their 2018 budget proposals or risk sanctions.

This is just as the speaker of the House of Representatives, Yakubu Dogara said the 2018 budget was going to be passed by both Houses on April 19 which is close to a month now. "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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