Presidency Receives 2018 Budget

The Presidency has received the 2018 Appropriation Bill from the National Assembly.

Senator Ita Enang, the President’s liaison officer to the National Assembly, confirmed that he received the budget from the legislature on Friday and that the consideration of the budget by the President would follow.

Senate President Bukola Saraki had told State House correspondents on Thursday that the budget, which was passed by the National Assembly on Wednesday last week, would be forwarded to the President today (Friday).

Dr Saraki, who led members of the legislature to the break the day’s fast with President Buhari, had explained that the delay in transmitting the Appropriation Bill to the executive was because both houses of the National Assembly were harmonising their versions.

President Muhammadu Buhari had presented a budget proposal of N8.612 trillion to the lawmakers on November 17, 2017.

In passing the Appropriation Bill, the lawmakers increased the oil price benchmark from $45 to $51. The Chairman of the Senate Committee on Appropriation, Senator Danjuma Goje, explained that the benchmark was increased after consultations with the executive.

The lawmakers also added N508 billion to the proposed expenditure, bringing the total amount passed to N9,120 trillion as against the N8.612 trillion the President proposed.