Senate Passes 2016 Budget | Reduces N6.077trn To N6.060trn

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The Nigerian Senate has on Wednesday morning passed the 2016 budget after over 3 months of perusal, delay and controversy.

READ ALSO: Again, Senate Adjourns Passage Of 2016 Budget

President Buhari places the 2016 Budget before a joint session of the National Assembly
President Buhari places the 2016 Budget before a joint session of the National Assembly

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.

READ ALSO: National Assembly To Pass 2016 Budget On March 17

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.

Datboyjerry

Datboyjerry

I am but your herald boy in the art of the pen.. An eccentric Environmental Biologist smouldered in the glorious epiphany of online journalism. If you ever find my article unduly insipid, sue me and i’ll refund you...

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