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Breaking: Senate Finally Passes 2018 Budget

Senate members during the passage of the 2018 budget

Economy

Breaking: Senate Finally Passes 2018 Budget

The lawmakers passes the N9.21 trillion budget due to the consideration and adoption of the Budget report submitted to the Red chamber yesterday.

Recalled that the budget tagged “Budget of Consolidation” was earlier presented by President Muhammadu Buhari to the joint session of the National assembly on November 7, 2017. 

Upper Chamber Passes 2018 Budget With An Increase From N8.6 trillion to  N9,120, 334,988,225 trillion

Senate members during the passage of the 2018 budget

Senate members during the passage of the 2018 budget

Information reaching us NIGERIA NEWS has revealed that the much awaited 2018 budget has finally been passed by the 8th Senate today, Wednesday 16 May 2018.

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The lawmakers passes the N9.21 trillion budget due to the consideration and adoption of the Budget report submitted to the Red chamber yesterday.

Recalled that the budget tagged “Budget of Consolidation” was earlier presented by President Muhammadu Buhari to the joint session of the National assembly on November 7, 2017. Just In: 2018 Budget, President Buhari Proposes N8.612 Trillion

The budget has however been increased from the previously proposed expenditure of N8.6 trillion to  N9,120, 334,988,225 trillion.

It would also be recalled that the National Assembly had earlier vowed to pass the budget on April 24, but failed to do so.

The reason for the failure of the early passage of the budget according to the Senate is the nonchalant attitude of some Ministries, Departments and Agencies (MDAs) to the presentation and defence of their proposed expenditure.

This led to why the President of the Senate, Dr Bukola Saraki, on April 12, ordered the Appropriation Committee to wrap up reports on the budget latest by April 13.

Recall also that many controversies have surrounded the passage of the budget as the Senate has been accused of asking for bribes before it would pass the budget. MURIC Calls Out Senators For Demanding Bribes FROM MDAs’ To Pass Budget

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