BREAKING: Again, NASS jacks up national budget *Adds extra N500billion

By Editor on 15/05/2018

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The National Assembly has added an extra N508billion to the 2018 national budget to raise it from the initial N8.612 trillion to N9.120 trillion, it emerged, on Tuesday.

The details of the budget contained in a list on the order paper laid by Danjuma Goje, Chairman of the Senate Appropriation Committee and seconded by Senator Matthew Uroghide, indicated the increase, which might spark off another round of crisis between the executive, which had always frowned at such increase and the lawmakers.

In the House of Representatives, Deputy Speaker, Yusuf Lasun, who presided over the Tuesday's session, said the lawmakers will consider and pass the budget on Wednesday, May 16 or Thursday, May 17.

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“We will begin the consideration tomorrow (Wednesday) afternoon and pass it but if we are not able to, we will finish on Thursday”, Lasun said.

“That the house do receive the report of the committee on appropriations on a bill for an act to authorise the issue from the consolidated revenue fund of the federation, the total sum of N9,120,334,988,225 (Nine Trillion, One Hundred and Twenty Billion, Three Hundred and Thirty-Four Million, Nine Hundred and Eighty-Eight Thousand, Two Hundred and Twenty-Five Naira) only,” the order paper read.

On the order paper, the debt service was increased from N2.01 trillion to N2.20 trillion, statutory transfer increased from N456 billion to N530 billion, recurrent expenditure increased from N3.49 trillion to N3.51 trillion. The capital expenditure increased from N2.42 trillion to N2.86 trillion while the maturing loans reduced N190 billion from N220 billion.





Posted on May, 15 2018

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