Senate passes 2016 budget

The Senate on Wednesday, 23rd March, 2016, finally passed the 2016 Budget after about three months since it was submitted by President Muhammadu Buhari.

The lawmakers approved a total of N6.060trn made up of N1.587trn capital expenditure of the budget and the recurrent expenditure of N2.646.3trn.
The sum of N351.37bn was approved for statutory transfers, N1.475.3trn for Debt Service, and N2.2trn for Fiscal deficit.

After all the observations and corrections made, the legislators passed the budget but admonished the executive to come up with a better one, with lesser errors in subsequent years.

Source: NigerianEye