In the approving the Budget; the Senate adopted the recommendation by the committee of thirty-eight dollars as benchmark for crude oil, just as the executive arm of government had proposed.
The Senate also adopted a foreign exchange rate of one hundred and ninety-seven naira per dollar, also as proposed by the government.
However; the Senate reduced the total budget sum by nearly two billion naira, from six point zero-seven trillion naira.
Our Abuja correspondent JAMES IGAH reports that on presentation of the Budget Report, the Chairman of the Senate Committee on Appropriation, Senator DANJUMA GOJE, urged the Senate to avoid further controversies and pass the budget without delay.
Senator GOJE acknowledged that there were still lapses in the Budget, but that the Appropriation Committee had to work around them.
He said that the delay in the passage of the budget had already been given a political interpretation, adding that Nigerians would blame the legislature for any further delay.
The Nigerian Senate has passed the 2016 Budget of six point zero-six trillion naira, a day after the report of the Senate Committee on Appropriation was presented.
the-nigerian-senate-has-passed-the-2016-budget-of-six-point-zero-six-trillion-naira-a-day-after-the-report-of-the-senate-committee-on-appropriation-was-presented
