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Senate Finally Lays 2018 Budget Report

17 May 2018

This is part of the recommendations of the Committee of Appropriations in its reports submitted by Senator Danjuma Goje.

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

Details in the report indicates that the National Assembly increased the 2018 budget from N8.6 trillion to N9.120 trillion.

However, Senate President Bukola Saraki attributed the delay in approving the document to failure of heads of ministries, departments and agencies to defend the budget before their respective committees.

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The original budget spending plan was N8.6 trillion.

Goje added that the increase of over N500 billion will be applied in the critical sectors of the economy.

This post was syndicated from BusinessDay: News you can trust.

Also, capital expenditure was up from N2.42 trillion to N2.86 trillion, while debt service was also increased to N2.20 trillion from N2.01 trillion.

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The Chairman of the Senate Committee on Media and Public Affairs, Senator Aliyu Sabi-Abdullahi, had on different occasions said the budget would be passed after the report was presented.

Other areas are; education, N15.7 billion, Judiciary, N10 billion and Niger Delta Development Commission (NDDC), N44.20billion. We all recall in the Health Act, 2014 where it was stated that at least 1% CAN will be allocated to Primary Health Care.

Laying and passage of the report had also been shifted several times.

But going by the increase, the budget now has N530 billion for statutory transfers, N2.2 trillion for debt service and N3.5 trillion recurrent expenditure, N2.8 trillion and N1.9 trillion for fiscal deficit.

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The National Assembly had set an April 24 target for passage of the budget but failed.

Senate Finally Lays 2018 Budget Report