Nigerian Senate Passes 2016 Budget
The Senate on Wednesday, passed the 2016 Appropriation Bill sent to a joint session of the national assembly by President Muhammadu Buhari, on December 22, 2015.
The Senate Committee on Appropriation presented a budget of N6.06 trillion to the Senate for passage.
According to the report, the Committee set recurrent expenditure at 2.6
trillion, capital expenditure at 1.5 trillion and fiscal deficit at 2.2
trillion.
The
Committee observed that the executive presented the budget late to the
National Assembly and this has subsequently delayed the passage.
The
Committee also noted that the budget, as presented by the executive, was
fraught with inconsistencies as some Ministers disowned their budgets.
The
Committee is recommending that going forward, the Budget Office must
work with MDA’s in preparing the budget to avoid the problem of
inadequate revenue for MDA’s.
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