Chairman of the Senate committee on appropriation,Danjuma Goje, presented the budget to the upper legislative chamber at plenary on Tuesday, May 15, 2018.
After about seven months President Muhammadu Buhari presented the proposal to the National Assembly, indications emerged yesterday that the document will be passed today (Wednesday) or tomorrow.
Of the N8.612 trillion earlier proposed for 2018 by the president, 30.8 per cent (or N2.652 trillion) of aggregate expenditure (inclusive of capital in Statutory Transfers), has been allocated to the capital budget.
He expressed belieft that the budget, when passed, would be a budget of progress.
The National Assembly and the Executive had since engaged each other in a blame game over the delay in passing the budget.The Senate had on several occasions accused Ministries, Departments and Agencies (MDAs) of not keeping to appointments with the various standing committees to defend their budgets.Both houses of the National Assembly on Tuesday received the budget report of their appropriation committees.
The budget was raised by N500 million to a total sum of N9.1 trillion, with the oil benchmark increased from $45 to $51 per barrel.
"For the first time, the National Assembly with consultation with the Executive implement the National Health Act which provides at least 1% of the amount in the Consolidated Revenue Fund (CRF) should be devoted to health sevices".
According to the report, N42.72billion will be spent on security, N57.
He added the the increment would allow for a N50.88 billion deficit reduction.
Mustapha Dawaki (APC, Kano), also laid the report.
The 2018 budget is Nigeria's highest budget estimate ever.
Comments
Post a Comment