Friday, 21 September 2018
Latest news
Main » Just In: National Assembly Receives 2018 Budget Report

Just In: National Assembly Receives 2018 Budget Report

16 May 2018

DAILY POST reported that the House of Representatives jacked up the 2018 budget from the N8.612 trillion figure presented by President Muhammadu Buhari last November to N9,120,334,988,225.

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 much awaited report of the 2018 appropriation bill, has been received by the National Assembly today.

More news: World Health Organization Seeks Ban Of Unhealthy Trans Fats

In the House of Representatives, the chairman of its Appropriation committee, Hon.

The sum of N199 billion is for sinking fund for maturing loans; N3,516,477,902,077 is for recurrent (non debt) expenditure while N2,869,600,351,825 is for development fund capital expenditure.

It would be recalled that President Buhari had submitted the proposal to a joint session of the National Assembly on November 7, 2017, with a call on the legislature to quickly pass the budget and return to January to December budget cycle.

More news: Analytical Report on Kinder Morgan, Inc. (KMI)

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

The details of the budget were listed on the order paper available at the senate on Tuesday.

Lawan had said: "I want this Senate to give an ultimatum of one week to all the agencies to submit the details of their budget to our committees to consider for appropriation". "And we are going to consider it the same day", the lawmaker who doubles as Senate spokesperson, said while addressing journalists last week.

More news: Netflix & ESPN Partner On Michael Jordan Docuseries 'The Last Dance'

Just In: National Assembly Receives 2018 Budget Report