Senate finally passes 2018 budget bill

Senate vote against devolution of powers to States

The Senate has finally passed the 2018 Appropriation Bill submitted to it by President Muhammadu Buhari since November 7, 2017.

The passage of the bill after a long delay, followed the adoption of the report of the national assembly joint committee on appropriation.

About N530.4 billion is added by the national assembly to the bill, raising it to n9.12 trillion from N8.61 trillion submitted by Buhari.

The breakdown of the approved estimates shows that recurrent expenditure is given N3.51 trillion; capital expenditure (N2.86 trillion); and statutory transfer (N530.4 billion)

Other votes are N2.2 trillion for debt servicing and N199 billion for the sinking maturing loan.

The bill was laid before the plenary of both the Senate and House of Representatives on Tuesday.

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