Towing the same path of the federal government to cut costs owing to dwindling oil revenue occasioned by low oil prices, the National Assembly, for the first time in years, has finally agreed to a 25 per cent cut in its annual budget of N150 billion.

By acquiescing to the 25 per cent cut, the National Assembly will shed N37.5 billion of its annual budget, meaning that when the 2015 budget is finally passed, its budget will stand at N112.5 billion.

A source privy to the negotiations between the National Assembly and the executive arm of government told THISDAY on Wednesday that the lawmakers finally agreed to the cut as part of their sacrifice to steer the economy out of the woods following a significant loss of government revenue to falling oil prices

Prior to their acceptance to slash their budget, the National Assembly’s budget was a no-go-area for the executive, which for years had allotted N150 billion to the legislature even when other MDAs (ministries, departments and agencies) of government were forced to accept budget cuts.

The decision on the cut to the National Assembly’s budget was taken by the lawmakers before the commencement of plenary.

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http://monitor9ja.com/2015/02/legislators-agree-to-cut-national-assemblys-budget-by-25/

That is a good one. With Buhari coming it, more cuts will be done - so that our Capital Expenditure in the Budget can increase for developmental projects.

Sai Buhari.

Ok everything would fall in place meanwhile GEJ all the way.

Infact 25% is not good enough. They should scrap so-called constituency dev money and their unreasonable allowances in millions while the masses suffer in abject poverty.

At least buhari will meet some money in government when he assumes office to begin his Nigerian transformation.

Only 25%? 80% should be more like it.

Demdem:


How much is presidency slashing?
How many presidential jets from the fleet are they selling off?

You need to read the OP again,this time,slowly.

They need to cut more. The National Assembly is the problem under mark. Ole jatijati

Welldone NASS. In a situation of War, like we have Bokoharam now, falling Prices of Oil on which our economy runs and a determined Government wanting to impress its citizens that he is coping and able to control its Budget, the Magic Wand is "Cut Costs or Cost Reduction". As you have done yours by 25% and that of the Executive, cut the Judiciaru as well. Never mind those shouting Corruption like it is a Legacy from our Founding Fathers, go on with a Cost Reduction Programme till we prosecute successfully the on-going Bokoharam. We shall soon come to normal again.

The fat cats are getting a "Tummy trim", finally!

Buhari just addressed this not quite long

Why now?