Published: Wed, May 16, 2018
IT&Software | By Alfonso Woods

National Assembly increases 2018 budget to N9.1 trillion

National Assembly increases 2018 budget to N9.1 trillion

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 Senate on Tuesday received the report of the Committee on Appropriation on the 2018 Budget.

In a telephone chat with LEADERSHIP yesterday, the Chairman, Senate Committee on Media and Public Affairs, Senator Aliyu Sabi Abdullahi disclosed that the senate's target is to have the budget laid at the plenary this week.

Six months after President Muhammadu Buhari presented the 2018 budget, the Senate has today listed the presentation of the report of the document in its today's program.

According to the report of the joint Committees on Appropriations, the amount represents more than 10 per cent increase of the original amount of N8.612trillion submitted by President Muhammadu Buhari on December 5, 2017.

A breakdown of the proposal shows that the sum of N530,421,368,624 is for Statutory Transfer; N2,203,835,365,699 for Debt Service; N199 billion for Sinking Fund for maturing loans; N3,516,477,902,077 for Recurrent (non debt) Expenditure, while N2,869,600,351,825 for development fund for Capital Expenditure.

The MDAs on the other hand accused the federal lawmakers of demanding bribes as conditions for passing the 2018 budget.

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.

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