The Nigerian Senate, on Tuesday, began debate on the general principles of the 2018 Appropriation Bill.
President Muhammad Buhari, had on Tuesday, 7th November, 2017, presented a copy of the 2018 appropriation bill to the joint session of both chambers of the National Assembly, which was presumed to be the first reading.
The bill which would eventually culminate into the 2018 budget after passage, was introduced for second reading on the floor of the Senate on Tuesday by the Leader, Senator Ahmad Lawan.
The seeks to authorise the issue from the Consolidate Revenue Fund of the Federation, the total sum of Eight Trillion, Six Hundred and Twelve Billion, Two Hundred and Thirty Six Million, Nine Hundred and Fifty Three Thousand, Two Hundred and Fourteen Naira (N8, 612, 236, 953, 214).
The bill has a nominal increase of 16% above the 2017 budget which was N7.3 trillion.