The Senate, on Tuesday, passed the 2019 budget estimates of
N8.83 trillion for second reading.
The passing of the budget for second reading followed an
exhaustive debate on the money bill with senators contributing to the debate.
Senators had, on Wednesday last week, commenced the debate
on the budget with some of them expressing fears about the “high level of debt”
the country was getting into.
Some of the senators had expressed reservations about the
plans by the Executive arm to borrow from both internal and domestic sources to
fund the 2019 budget.
The senators said, should Nigeria continue to borrow money
to fund the deficits in her annual budgets, the country would be hugely
indebted in the end without any means to repay.
After the second reading of the bill, it was referred to
relevant committees of the Senate for further action.
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