Senate Adjourns Plenary For Budget Defence

Senate plenary

The Senate has suspended plenary for two weeks to enable it engage Nigerian officials for the budget defence.

The Senate President, Ahmad Lawan, made the announcement at the end of the budget debate on Tuesday.

The plenary is adjourned to October 29, he said.

The lawmakers’ deliberations on the 2020 Appropriation Bill began on Tuesday.

They had commenced debate on the bill last Wednesday – a necessary criterion for consideration and passage of a bill.

President Muhammadu Buhari had on October 8 proposed N10.3 trillion for the nation’s spending for next year

One assumption of the budget is that Nigeria will use a quarter of the budget (N2.5 trillion) to repay debts the government owes locally and internationally.

The budget was also prepared on the assumption of $57 per barrel with crude oil production of 2.18 million barrels per day.

Mr Buhari also presented the Finance Bill to the National Assembly for consideration and passage into law.

The Bill, among other things, seeks to increase the Valued-Added Tax rate from five per cent to 7.5 per cent.

More than half of the lawmakers gave their contributions on the floor of the Senate during the debate.

The bill was thereafter, referred to the Committee on Appropriations which will spread the budget across the standing committees of the chamber for Ministries, Departments and Agencies to appear before them and defend their 2019 budget performance and 2020 proposal.

The meetings of several committees for budget defence are expected to commence on Wednesday.

Coronavirus factsheet


PT Mag Campaign AD

All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.

Support PREMIUM TIMES' journalism of integrity and credibility

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.


TEXT AD: To advertise here . Call Willie +2347088095401...

BE THE FIRST TO KNOW! Subscribe to our newsletter

* indicates required


Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application