News
Senate passes N9.12trn 2018 budget
The Senate on Wednesday passed the 2018 budget of N9.12 trillion. The budget was presented at a joint session of the National Assembly by President Muhammadu Buhari on November 7, 2017.
Passing the budget, the Deputy President of the Senate, Ike Ekweremadu, emphasized the need for the legislature to be specific on the duration of the budget or rather what constitutes the budget year. He stated that the law does not specify precise time frame of when the budget begins or ends but specify 12 months calendar beginning from the date the legislature passes the budget; indicating that the budget year for the 2018 Appropriation Act begins from May as soon as the President assents to the financial instrument.
Several senators complained of the non-cooperation of ministers and other heads of agencies who declined responding to invitations by the National Assembly to defend budget allocations to their respective MDAs.
The House of Representatives is also at the point of completing its own process at the time of this report. Details later.
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