The National Assembly yesterday commenced debate on the general principles of the 2017 appropriation bill.
Both chambers had last week passed the Medium Term Expenditure Framework (MTEF), and Fiscal Strategy Paper (FSP), for 2017 to 2019, paving the way for the full consideration of the bill.
President of the Senate, Dr. Bukola Saraki, who presided over the Senate plenary, explained the style where 30 senators have been selected to speak during the consideration of the bill.
Leading the debate, Senate Leader, Ahmed Lawan said the budget was designed to stimulate and attract private sector capital and spending. He added that the budget was designed to take Nigeria out of recession, create sustainable, inclusive growth and prosperity for all Nigerians, in line with the change agenda of the present administration.
Speaker Yakubu Dogara was at the helm when debate on the N7. 298 trillion budget also commenced on the floor of the House of Representatives yesterday.
Some of the lawmakers, who bared their minds on the budget, described the decision to peg the budget exchange rate to the US dollar at N305 as well as the 2. 2 million barrel per day oil production estimate as unrealistic.
- Source – The Guardian