BREAKING: Bukola Saraki’s Senate Passes The 2019 Budget, Jerks Estimates By N10 Billion

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The 8th Senate, has on Tuesday, passed the 2019 Appropriation Bill, adding N10 billion to the Service Wide Vote‎.

The National Budget was consequently raised from N8.906 trillion, to N8.916‎ trillion.

The passage followed the presentation of a report by the Chairman, Senate Committee on Appropriation, Danjuma Goje.

The Budget was increased from N8.83 trillion, presented by President Muhammadu Buhari, to N8.916 trillion.

Goje said that the need to provide for the severance benefits of outgoing Lawmakers, their Aides, provision for the National Assembly orientation programme, election, and others, accounted for the about N86 billion increase.

“There is also the need to provide more funds for the Security and Intelligence Agencies, to deal with additional, emerging, unforeseen challenges in the country”, he said.

He said that all of these were not captured in the 2019 Budget submitted by the President.

The Senate passed the Budget with the breakdown, as follows:

Statutory transfer – N502.58 billion.

Debt service – N2.25 trillion.

Recurrent expenditure – N4.65 trillion.

In an additional recommendation, the Senate approved a N10 billion fund, to be drawn from Service-Wide Votes, to assist victims of Zamfara State crisis.

The Senate had in one of its plenaries, approved the special fund.

The Lawmakers adopted the Medium Term Expenditure Framework, MTEF, earlier presented.

A daily production rate of 2.3 million barrels, at $60 per barrel, was also adopted, as suggested by the Executive.

The Senate immediately communicated changes made to the Budget to the House of Representatives, to ensure there is no Conference Committee, which could further stall the passage.

The Senate President, Bukola Saraki, thanked his colleagues, and charged the Executive on implementation of the Budget.

“We hope that with this Budget passed, the Executive will ensure full implementation, for the benefit of all Nigerians”, he said.

The Senate thereafter, adjourned for an hour, to allow the Secretariat make available votes and proceedings of the day, to allow speedy transmission of the Bill to the President.

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