DEBATE ON 2017 BUDGET CONTINUES IN THE SENATE
The plenary session of the Senate on Wednesday, January 25, 2017 continued with the debate on the 2017 Appropriation Bill whose general principles was deliberated upon by the Senators. It would be recalled that debate on the Money Bill was deferred on Tuesday.
However, consideration of the Annual Estimates for second reading continued on the floor of the Red Chamber, presided over by the Senate President, Bukola Saraki. The 2017 Appropriation Bill is predicated on the following parameters below:
• Grand Total of 2017 Budget Estimate N7, 298, 507, 709, 937
• Statutory Transfers N419, 020, 648, 000
• Debt Service N 1, 663, 885, 430, 499
• Sinking Fund for maturing bonds N 177, 460, 296, 707
• Recurrent (Non-Debt) Expenditure N2, 979, 151, 756, 196
• Capital Expenditure (Inclusive of capital expenditure in statutory transfers) N2, 058, 989, 578, 536
• Oil Output per day 2.2 million barrels
• Unit price per Oil barrel $44.5
• Budget benchmark exchange rate N305 to $1
The following law-makers contributed to the debate; Sen. Olarenwaju Tejuoso, Sen. Nelson Bassey, Sen. George Sekibo, Sen. Albert Bassey Akpan, Sen. Gbenga Ashafa, Sen. Shehu Sani, Sen. Yele Omogunwa, Sen. Babajide Omoworare, Sen. Aliyu Wamakko, Sen. Philip Aduda, Sen. Barau Jibrin, Sen. Mao Ohuabunwa, Sen.Dino Melaye, Sen. John Enoh, Sen. Biodun Olujimi, Sen. Emmanuel Bwacha, Sen. Solomon Adeola, Sen. Francis Alimikhena, Sen. Bala Ibn Na’ Allah, Sen. Mathew Urhoghide, Sen. Muhammed Ali Ndume, Sen. Atai Aidoko, Sen. Albert Ajayi Boroffice, Sen. Abdulfatai Buhari, Sen. Samuel Anyanwu, Sen. Abdullahi Aliyu Sabi, Sen. Tijani Yahaya Kaura, Sen. Emmanuel Paulker, Sen. Philip Tanimu Aduda, Sen. Muhammed Ubale Shittu, Sen. David Umaru, Sen. Rabiu Musa Kwankwaso among others.
Accordingly, the Senate President asserted that every Senator will be accorded the opportunity to contribute to the debate on 2017 Appropriation Bill in order to be thorough and fair in the entire budgeting process. Therefore, the list of other Senators yet to contribute to debate would be considered in the next session of the Chamber. Consequently, debate on the 2017 Appropriation Bill has been deferred to another legislative date (Thursday).