Senate Passes 2018 Budget After 7 Months

-

Posted by Tony Okechukwu

                                                           
The Senate on Wednesday passed the 2018 budget of N9.12 trillion after seven months following the adoption of the report by the joint National Assembly Committee on Appropriations.

The report was laid before the Senate on Tuesday, while the lawmakers considered and adopted it at an extended plenary on Wednesday.

The same version of the report was presented in the Senate and House of Representatives.

President Muhammadu Buhari had on November 7, 2017 presented a budget of N8.612 trillion to the National Assembly for approval.

The Assembly hiked the budget to N9.12 trillion, by adding N508 billion extra.

In the new appropriation, N530,421,368,624 was proposed for statutory transfer; N2,869,600,351,825 for development fund for capital
expenditure; N3,516,477,902,077 for recurrent (non debt) expenditure; while N2,203,835,365,699 is for debt service; and N199bn as sinking fund for maturing loan.
~ News

Comments

Post a Comment

Popular posts from this blog

Fayemi Defrays #31 Billion Debt Inherited From Fayose

-
Image
·        …Says 2020 ‘ll be year of life-changing projects Posted by Tony Okechukwu Ekiti State Governor, Dr. Kayode Fayemi on Wednesday disclosed that his administration has defrayed #31,105, 658,370.89 amounting to 26% of the total debt inherited by his administration from the immediate past government of Mr. Ayodele Fayose. Delivering a state of the State address at the State House of Assembly, the governor said the sum was expended to defray salaries, pension, gratuity, subvention arrears and contractual claims and obligations owed by Fayose. Fayemi however assured that despite the burden of inherited debts, the year 2020 would witness a massive commissioning of projects and institutionalizing of more life-changing programmes. The governor who described the failure of the immediate past government to meet its obligations to workers and pensioners as a violation of fundamental human rights stated that his administration is focusing ...
Read more

GOs Protest Fraudulent Election Results in Bayelsa

-
Image
Posted By Tony Okechukwu Members of various non-governmental organisations and civil society groups in Bayelsa State, on Wednesday, staged a peaceful protest over the conduct of the Presidential and National Assembly elections in some parts of the state. Comrade Toitoi Newton of the Grassroots For Development, who led the protest to the Independent National Electoral Commission office in Yenagoa, told journalists that the CSOs demand a cancellation of the purported results from Constituency 4 in Southern Ijaw council and Nembe-Bassambiri in Nembe council where election materials were carted away. According to Comrade Newton, elections did not hold in the seven wards of Nembe-Bassambiri due to the violence orchestrated by political thugs aided by security personnel deployed in the community. He said the people were disenfranchisised as they were chased away from their communities on the day of the election. Comrade Stephen Seleke of the Advocacy for Peace also said an...
Read more

Attorny General of the Federation Clears Rift between Rival Factions of IPMAN

-
Image
By Desmond Ogudu There was wild jubilation across the rank and file of the Independent Petroleum Marketers Association of Nigeria (IPMAN) nationwide as the Honorable Attorney General of the Federation (AGF), Abubakar Malami in a landmark judicial release cleared the lingering ambiguity in the Supreme Court judgment of 14th December 2018. Addressing a cross-section of marketers from the Western and Northern Zones who paid him a solidarity visit, the National Deputy President of the Independent Petroleum Marketers Association of Nigeria (IPMAN) Alh. Debo Ahmed, began with congratulating His Excellency Pres. Muhammadu Buhari on his 2nd term inauguration in office and pledged the total support of the IPMAN towards his administration’s goal and objectives. He went further to assuring the teeming marketers of the Association's commitment in ensuring a total transformation in the oil and gas down stream sector of the economy. Speaking on behalf of the National President of IPMAN, ...
Read more