Senate explains why it postponed approval of the 2023 budget, blames the executive

The Nigerian Senate has explained why it has postponed the passage of the 2023 Appropriation Bill until Wednesday, December 28, 2022.

The upper legislature blamed the action on some obvious problems in the document, adding that the Senate had some challenges receiving the appropriations committee’s 2023 budget report.

This was made known by the president of the Senate, Ahmad Lawan, in the plenary session of the Senate during the plenary session on Thursday, December 22, 2022.

President of the Senate blames the Executive

Lawan said the appropriations bill came to the National Assembly from the executive with some problems and when the committee came to reconcile the figures, the challenge became apparent and unwieldy.

He noted that the Senate and House appropriations committees have since begun cleaning up the document.

The news continues after this announcement.

  • He said, “We cannot receive the committee report (assignments).
  • “The main reason for this is that the appropriations bill came to the National Assembly with some problems and when our Senate and House appropriations committees began to reconcile the numbers and what was submitted, the problems became very apparent. .
  • “Therefore, our committees first had to start the process of cleaning up the bill. That process, of course, also compromised the executive arm -because that’s where the bill came from- and that was concluded yesterday.
  • “The secretariat of our committees cannot process the budget for us today or tomorrow, or on Saturday or Sunday.”

The president of the senate said the national assembly would probably consider and approve the budget after the Christmas holidays next week.

for the records

  • Remember that in early October 2022, President Muhammadu Buhari presented a sum of N20.51 trillion as the estimated budget for fiscal year 2023 in a joint session of the national assembly.
  • The N20.51 trillion budget, which is the highest so far in the nation’s history, is the last the president presents before his term ends.
  • A breakdown of the budget shows that recurrent spending is N8.27 trillion, capital spending is N5.35 trillion and debt service is N6.31 trillion.
  • The benchmark oil index is set at $70 per barrel, with daily production at 1.69 barrels per day and an exchange rate of N435 to the dollar.

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