Published: Wed, May 16, 2018
Technology | By Christopher Mann

National Assembly Receives 2018 Budget Report

National Assembly Receives 2018 Budget Report

President Muhammadu Buhari had on November 17, 2017, presented a budget of 8.612 trillion Naira before a joint session of the National Assembly.

The report was laid by Danjuma Goje, Chairman of the Senate Appropriation Committee and seconded by Senator Matthew Uroghide.

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.

Senate had earlier passed a resolution to set May 31, 2018 as deadline for life span of the N7.444trn 2017 budget.

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The total value of the 2018 budget has been increased by the National Assembly to N9.120 trillion from N8.612 trillion, Business Post has learned.

According to the document laid at the House on Tuesday, N530,421,368,624 was proposed for statutory transfer; N2,869,600,351,825 for development fund for capital expenditure; N3,516,477,902,077 for recurrent (non debt) expenditure; while N2,203,835,365,699 is for debt service; and N199bn as sinking fund for maturing loan.

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.

Expeditious consideration for the 2018 budget estimates by both chambers of the National Assembly ran into troubled waters in December a year ago when the federal lawmakers observed that details of implementation of the capital components of the 2017 budget were not made available by the executive.

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

"Definitely, we can mandate the Ministry of Finance to ensure that they do not further order releases because they are breaking the law".

The Deputy Speaker, Yusuf Lasun, who presided over the plenary at the House of Representatives on Tuesday expressed optimism that the budget would be passed on Wednesday or Thursday.

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