Senate passes 2018/2020 MTEF bill, as 2018 budget bill passes second reading

Senate vote against devolution of powers to States

The 2018 Appropriation Bill has passed the second reading in the Senate.

The bill has been referred to the appropriation committee for further legislative action.

The debate on the N8.6 trillion bill began last Tuesday by the senators.

The Senate had adjourned the plenary till December 19, to allow the standing committee to hold budget defence sessions with federal ministries, departments and agencies.

Also, the Senate has passed the 2018-2020 Medium Term Expenditure Framework and Fiscal Strategy Paper Bill.

The senators peg the oil benchmark price at $46 per barrel of crude oil, and a production level of 2.3 million barrels daily.

Also, the senators fixes an exchange rate of the dollar at N305.

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