₦airaland Forum

PUNCH: The Senate, on Wednesday, passed the 2016 Appropriation Bill and reduced the budget size from the initial N6.077trn presented to the federal parliament by President Muhammadu Buhari on December 23, 2015, to N6.060trn, a difference of N17bn.

The federal lawmakers approved the N1.587trn as the capital expenditure portion of the budget and the recurrent expenditure of N2.646.3trn.

They also approved N351.37bn as Statutory transfers, N1.475.3trn for Debt Service, and N2.2trn for Fiscal deficit.

The federal parliamentarians also adopted the oil benchmark of $38; Crude production of 2.2000m barrel per day and the exchange rate of N197 to $1 for the implementation of the budget.

Explaining how the difference of N17bn was identified, Chairman, Senate Committee on Appropriation, Senator Danjuma Goje, admitted that the 2016 budget proposal contained a number of errors of omissions, particularly in the area of personnel cost.

He said his committee therefore filled some of the gaps would could still raise serious concerns in the course of the year because there were many outstanding cases.

Senate President, Bukola Saraki, explained after the formal passage of the appropriation bill that his colleagues had done his part and requested the president to do the needful by signing it to law for immediate implementation.

Explaining how the difference of N17bn was identified, Chairman, Senate Committee on Appropriation, Senator Danjuma Goje, admitted that the 2016 budget proposal contained a number of errors of omissions, particularly in the area of personnel cost

blueto:
thank God the senate was objective and inexorable enough to decline Buhari's attempt to lobby the NASS into passing the budget with anomalous figures in other to divert public funds to his personal bursary.

ajani1978:
You need medical attention

BillzCarter:
You mean the NASS that misplaced budget?

barcaboi:
all these english won't help you sound learned or doesn't make you more intelligent. .....
1. what is your point about the budget?
which budget have Nigerians followed openly and judiciously like this particular one; how many budgets have we seen lawmakers oppose and adjusted openly like this......beauty of democracy

2. Does admitting the mistakes in it make him a bad person?
he sacked the man in charge of the ministry that he appointed himself. ...does that ring a bell? Abba Moro was left to run the ministry for years after the Immigration scandal.....this is a no nonsense manband he swung to action straight appointing experts to monitor the ministry.
face the topic and stop throwing grammar about like we did not pass through the walls of a school. ....

blueto:
thank God the senate was objective and inexorable enough to decline Buhari's attempt to lobby the NASS into passing the budget with anomalous figures in other to legitimately divert public funds to his personal bursary.

We are no longer susceptible depraved subtle motives!.

makingsense:
Where is the money reduced going to??

blackpanda:
Do you even know what budget means

makingsense:
No kindly help me out.. thanks in advance!!