Published: Tue, May 15, 2018
Markets | By Otis Pena

National Assembly inflates 2018 budget by N500bn

National Assembly inflates 2018 budget by N500bn

At the Senate, the report was submitted by Danjuma Goje, chairman Senate committee on appropriations.

The $8.612tn "Budget of Consolidation" having been delayed for 189 days after President Muhammadu Buhari presented it before the Joint Session of National Assembly in November 7, 2017, is the most delayed budget in nineteen years.

Although, the defence have been characterized with criticisms from the red chamber who lamented that some government officials failed to show up and those who came have refused to return when told to make corrections.

The National Assembly has concluded plans to pass the harmonized Appropriation bill of N9.120 trillion for 2018 fiscal year.

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This is contained in the report of the National Assembly joint Committees on Appropriation just presented to members.

Speaking during today's House sitting, Yusuf Lasun, Deputy Speaker of the House of Representatives, said the lawmakers are expected to pass the budget on Wednesday or Thursday.

The Senate had on several occasions accused Ministries, Departments and Agencies, MDAs, of not keeping to appointments with the various standing committees to defend their budgets.

Some of the changes made include an increase in recurrent expenditure from the proposed N3.49 trillion to N3.51 trillion. This translates to a differential of N22bn.

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