The Senate has passed the 2018 Budget of N9.21 Trillion following the consideration and adoption of the Budget report laid on the floor of the upper legislative chamber on Tuesday. It was passed in plenary, Wednesday
The Budget document passed on the floor of the senate is similar to what is being considered by the house of representatives and it shows and increase of N508 billion to take it to N9,120, 334,988,225 from the N8.6 trillion presented by Buhari.
With this development, the January to December budget cycle would not be obtainable with the 2018 budget.
Buhari had on Nov. 7, 2017 presented a budget of N8.6 trillion,“Budget of Consolidation”, before a joint session of the National Assembly.
The President had pegged the budget on a benchmark of 45 dollars per barrel at an exchange rate of N305 to a dollar in 2018, but the Senate, in the face of rise