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etvfutures.com May 22, 2018


NASS lays N9.12trn for 2018

16 May 2018, 06:40 | Brandon Parsons

NASS Increases 2018 Budget To N9.1tr Economy By Ifeanyi Omokwe On

National-assembly-abuja-building

Report of the 2018 Appropriation Bill was laid today at the Senate by Chairman of the Senate Committee on Appropriations, Mr Danjuma Goje.

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

The N9.12 trillion-Budget is N410 billion higher than N8.61 trillion appropriated in 2017.

The House of Representatives on Tuesday said the 2018 Appropriation Bill of N9.12 trillion would be passed on Wednesday.

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

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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.

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.

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

"If after the one-week and they don't, then we will take necessary actions to show that they need to comply with the law".

Yussuff Lasun, Deputy Speaker of the House of Representatives who presided over the plenary session mandated all the lawmakers to collect copies of the budget preparatory for passages.



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