Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,716,640 members, 6,422,206 topics. Date: Thursday, 05 August 2021 at 07:19 AM

Senate Approves N575bn Supplementary Budget For Buhari - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Senate Approves N575bn Supplementary Budget For Buhari (1313 Views)

Senate Approves Establishment Of Nigerian Peace Corps / Senate Approves E-Voting, Passes Amendment To Electoral Act / Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) (2) (3) (4)

(1) (Reply) (Go Down)

Senate Approves N575bn Supplementary Budget For Buhari by biafranqueen: 8:36pm On Dec 01, 2015
By Henry Umoru & Joseph Erunke
ABUJA- THE Senate Tuesday passed a total sum of N574,532,726,857 as supplementary budget for President Muhammadu Buhari to be withdrawn from the Consolidated Revenue Fund of the Federation.

The approved N574,532,726,857 is for additional Recurrent( Non- Debt) Expenditure for the year ending on the 31 st day of December, 2015.

The Senate however jerked the original supplementary budget as submitted by President Buhari by N108,895,800,000, just as it said that the increase was designed to accommodate the said amount as additional funding for fuel subsidy for the months of October, November and December, 2015.

With the additional N109 billion by the Senate for fuel subsidy, it would now amount to N522,258,934,505 as against the backdrop that the President in the letter to the Senate had requested for N413 billion for fuel subsidy, just as N5,000,000,000 was approved as Victims Support Funds in the Capital Supplementation which would be re- classified to the Service Wide Vote of N559,217,800,017.

The Senate also approved a total sum of N29,958,865,512 to fight Boko Haram Insurgency in the North East and payment of outstanding claims in order to ameliorate the suffering of Nigerians under the heading, operation Zaman Lafiya, and of the approved money, Nigerian Army will get N17,468,992,640; Nigerian Airforce, N8,141,434,760; Nigerian Army outstanding balance from 2015 and second quarter, N4,348,438,112

It would be recalled that the Senate had penultimate Wednesday received a supplementary budget of N465,636,926,857 from President Muhammadu Buhari for consideration and approval.

President Buhari who also sought an upward review of the new borrowing plan from N882.1billon to N2.103trillion, had said, “The expected deficit arising from the above is projected at 2.103 trn or 2.19 per cent of GDP to be financed by additional borrowing of 1.601 trn through the debt management office.”

The approval of the Senate was sequel to the report of the Senator Danjuma Goje led Committee on Appropriations on the 2015 Supplementary Appropriation Bill.

Earlier, the senators broke into an executive session for one hour as part of moves to discuss the appropriation bill and give the President a soft landing by passing the budget and as a follow up to last Thursday’s dinner the Senators had with President where collaboration and synergy among the Executive and Legislature were emphasized.

Presenting the report, Chairman, Senate Committee on Appropriations, Senator Danjuma Goje said, “the Committee observed that: The provision for subsidy payment only covers year 2014 arrears of N120.5 Billion and the claims of January – September, 2015 of N292.8 Billion.

“There is need to provide additional funding in the sum of N108,895,800,000(One Hundred and Eight Billion, Eight Hundred and Ninety-Five Million, Eight Hundred Thousand Naira) only for fuel subsidy for the months of October, November and December 2015 to endure that the 2016 Budget takes off on a clean slate( this issue came up in the course of clarification of the total subsidy need for the year ending 2015, by the Permanent Secretary, Ministry of Petroleum Resources;

“The provision for Victim Support Fund in Capital Supplementation should have been made in the Service Wide Vote since it is a Federal Government contribution to a fund managed by a Committee which is not an MDA of Government;
http://www.vanguardngr.com/2015/12/senate-approves-n575bn-supplementary-budget-for-buhari/

1 Like

Re: Senate Approves N575bn Supplementary Budget For Buhari by biafranqueen: 8:38pm On Dec 01, 2015
I Met A Virtually Empty Treasury – Buhari

Eurobomber lygn19 Noblezone


Pazienza Rose2014 warrior01 EternalTruths

Carnegiefan chukwudi44 Rose2014

Ihemba Yujin Ezeagu Easternleopard

Easternlion Freedom4biafra

Ipobdevil ikengawo billygee2u

Duru1 Onatisi 400Billionman blacktechnology

Ok500 franksam2009 totorimi tonye barcanista

Dearpreye kingzizzy Auntysuzan Dunkem21

Ichidodo babyosisi collynzo23 kettykin anonimi

nigerianvenom genbloodykiller

Sunnybobo3 biafranqueen customized13 Candyrain

Descartes Mogidi Mizmycoli Wombraiders

Phockphockman Anonimi Afam4eva pointb

Ngwakwe Abagworo tonychristopher

Wisdomguy4u curlieweed CSTR2 obosiland

AkwaIbomrep1 FreeGlobe Mandax MrEverest

Whynotthetruth badnature M4gunners str8talk1

Etc
Help me understand what is going on here?

4 Likes 1 Share

Re: Senate Approves N575bn Supplementary Budget For Buhari by biafranqueen: 8:45pm On Dec 01, 2015

https://www.youtube.com/watch?v=YmG_dYY7YRA
Listen to this video in 2011 and judge for your self how hypocritical this administration is.
Re: Senate Approves N575bn Supplementary Budget For Buhari by dunkem21(m): 8:47pm On Dec 01, 2015
grin
Re: Senate Approves N575bn Supplementary Budget For Buhari by biafranqueen: 8:49pm On Dec 01, 2015
dunkem21:
grin
Just getting ready to call you I know you go likem wink
Re: Senate Approves N575bn Supplementary Budget For Buhari by baralatie(m): 8:52pm On Dec 01, 2015
Hmmmmmmm!
Re: Senate Approves N575bn Supplementary Budget For Buhari by dunkem21(m): 8:54pm On Dec 01, 2015
biafranqueen:
Just getting ready to call you I know you go likem wink


No need to call me ..just call lalasticlala grin
Re: Senate Approves N575bn Supplementary Budget For Buhari by biafranqueen: 8:56pm On Dec 01, 2015
dunkem21:



No need to call me ..just call lalasticlala grin

lalasticlala and I had misunderstanding once upon a time not sure I've been forgiven call for me wink
Re: Senate Approves N575bn Supplementary Budget For Buhari by Pheals(f): 7:04am On Dec 02, 2015
Money wey dey go share...calling it budget hmmmm
Re: Senate Approves N575bn Supplementary Budget For Buhari by Obidikejr(m): 7:42pm On Jan 12, 2016
What's your point? Every president submits his budget/supplementary budget, it's a necessity, nothing wrong here
Re: Senate Approves N575bn Supplementary Budget For Buhari by betterABIAstate: 7:49pm On Jan 12, 2016
Abeg, supplementary budget for which year?
Re: Senate Approves N575bn Supplementary Budget For Buhari by DropShot: 7:53pm On Jan 12, 2016
biafranqueen:
I Met A Virtually Empty Treasury – Buhari

Help me understand what is going on here?
What is going on is that you lack proper understanding of contextual meaning of statements just like your fellow IPOD and Biafra people.

Now, take your dictionary or use Google to check the full meaning of "virtually". Then come back to apologize.
Re: Senate Approves N575bn Supplementary Budget For Buhari by DropShot: 7:54pm On Jan 12, 2016
Very stale news. IPODs have malfunctioning brain.
Re: Senate Approves N575bn Supplementary Budget For Buhari by IPOB123london: 8:00pm On Jan 12, 2016
and who is subsidising who?-says Big Bumharia

black people of nijeria we want answer

now nevermind police in a very serious country these are the areas the press strive on

the press is a watchdog toward the development of a country

and u are telling us there is nothing fundamentally wrong with brain these nijerians

never worry the sun must set!

(1) (Reply)

TB Joshua ‘Heals’ SNAKE-MAN!!! / Seun Osewa: This Proverb Will Help You Understand It Better / Kano APC Probes Kwankwaso For Eying Buhari’s Seat

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2021 Oluwaseun Osewa. All rights reserved. See How To Advertise. 58
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.