The Nigerian Senate passed the 2019 budget on Tuesday, April 30, after four months of careful consideration.
The decision of the Senate was sequel to the presentation of the bill by the Senate Committee on Appropriation.
Speaking at plenary, chairman of the Committee, Danjuma Goje, announced an increase in the budget to 8.91 trillion.
The increase, according to Goje, was to accommodate provisions for the establishment of the Northeast Development Commission as well as compensation for victims of Zamfara killings.
While appreciating his colleagues for the work done on the budget, Senate President Bukola Saraki urged the Executive to ensure speedy implementation of the budget.
President Muhammadu Buhari had on Wednesday, December 19, 2019, presented the N8.83 trillion budget for the 2019 fiscal year to both chambers of the National Assembly.
Debate on the general principles of the bill by the national assembly was delayed due to conduct of the recently concluded general elections.
The bill was thereafter laid in plenary on April 17, 2019, by the Senate Committee on Appropriation after failing to meet several deadlines for its submission with the hope that it would be passed on April 24.
The 2019 budget estimate is N300 billion lower than the N9.1 billion being implemented for the current fiscal year.
The budget is based on an oil production estimate of 2.3 million barrels per day and an exchange rate of N305 per dollar.