Reps reveals new date to pass 2018 budget

BREAKING National Assembly increases 2018 budget to N9.1trn

GeneralBREAKING National Assembly increases 2018 budget to N9.1trnBy. | Publish Date May 15 2018 1:30PM Senate President Bukola Saraki

NAIJ.com gathered that the presentation of the report was seconded by the chairman, Senate committee on public accounts, Senator Matthew Urhoghide representing Edo south.

The National Assembly has raised the figures of the 2018 Appropriation Bill from N8.612 trillion earlier presented by President Muhammadu Buhari to N9.120 trillion.

NAN reports that the Deputy Speaker of the House, Yussuff Lasun, who presided at plenary, made this known after the budget report was presented by the Chairman, Committee on Appropriation, Rep. Mustapha Dawaki.

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The six months the 2018 budget estimates has spent in the National Assembly has been the longest period for consideration of an appropriation bill so far since year 2000 when a full fledged yearly budget was first presented to it.

According to the paper, N530.4bn was proposed for Statutory Transfer, N2.2tn for Debt Servicing, N190bn for Sinking Fund for maturing bonds, N3.51tn for Recurrent Non Debt Expenditure.

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. "Our cooperation should not be misread as weakness or not knowing what to do".

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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.

"I have earlier said it in other fora that the senate targets to lay the budget this week at its plenary".

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