Senate passes record N9.12tr 2018 budget



The Senate on Wednesday passed a record N9.12 trillion ($30 billion) budget for the 2018 fiscal year.

The total sum laid out in the plan passed by the Senate is higher than the N8.6 trillion budget presented to the National Assembly by President Muhammadu Buhari in November.

The upper chamber said the increase was due to the assumed oil price rising to $51 per barrel, up from $45 in Buhari’s earlier version.

Agency Report