The Nigerian Senate has on Wednesday morning passed the 2016 budget after over 3 months of perusal, delay and controversy.
While passing the 2016 Appropriation Bill, the senate also reduced the budget size from the initial N6.077trn presented to the federal parliament by President Muhammadu Buhari on December 23, 2015, to N6.060trn, a difference of N17bn.
Clarifying on how the difference of N17bn was identified, Chairman, Senate Committee on Appropriation, Senator Danjuma Goje, admitted that the 2016 budget proposal contained a number of errors and omissions, particularly in the area of personnel cost.
The federal parliamentarians also adopted the oil benchmark of $38; Crude production of 2.2000m barrel per day and the exchange rate of N197 to $1 for the implementation of the budget.
Speaking during plenary, Senate President, Bukola Saraki said the onus is now on the executive arm of government to implement the budget.
“We noted the initial hiccups of the 2016 budget and believe the 2017 process will be better”, Saraki said.