By Nuel Suji – The Senate has resolved to pass the 2017 Budget this week Thursday, even as it received the long-awaited report on the budget from its committees on appropriations and finance.
The Senate President Bukola Saraki after the presentation of Budget document by Chairman, Committee on Appropriation Danjuma Goje, assured that the passage would be done next Thursday.
Saraki commended the Appropriation Committee for a “job well done” noted that the budget had been laid in full details, the first time that would be happening in Nigeria.
“This is history being made, because this is the first time report of the appropriation bill would be laid with details. By Wednesday you will get hard copies of the report, but the soft copy will be ready today. We will distribute them and ensure we pass the bill on Thursday,” Saraki said.
The prolonged delay in the passage of 2017 Budget had raised apprehensions in some quarters, especially after the Police raid on the residence of Sen. Goje who then accusing the law enforcement officers of carting away the budget documents.
The Buhari government had, hitherto been exercising the constitutional privilege of spending from the 2016 budget, following undue delay in the passage of this year’s budget.
President Buhari had presented a budget proposal of N7.30 trillion for the 2017 fiscal year before a joint session of the national assembly on December 14, 2016.
According to break down of the budget, the sum of N2.24 trillion, representing 30.7 per cent was earmarked for capital expenditure, while N2.98 trillion was voted for recurrent. Al
The 2017 budget set the oil benchmark price at 42.5 dollar per barrel with a production estimate of 2.2 million barrels per day.