Posted by By Desmond utomwen/Abuja on
The Senate this morning in an emergency session, passed the amendment bill on the 2008 appropriation act.
The Senate this morning in an emergency session, passed the amendment bill on the 2008 appropriation act.
The passage followed a report submitted by the committee on appropriation led by Senator Iyiola Omisore.
The new bill as passed by the Senate, authorises the issuance of the total sum of N3.65 trillion, from the consolidated revenue fund of the federation, out of which the sum of N6 billion is statutory transfer (Part A), the sum of N376.21million is for debt service, the sum of N1.327 trillion is for recurrent (non debt) expenditure, while the sum of N786.2 billion is for capital expenditure for the year ending 31 December 2008.
President Umaru Yar'Adua via letter dated 26 June 2008, requested the National Assembly to amend the 2008 appropriation act earlier passed.
The request which was accompanied by a draft 2008 appropriation act (amendment) bill, urged the Senate to effect the amendment in respect of the long title of 2008 appropriation act and; a schedule to the 2008 appropriation act by the substitution of the sum appropriated to the head of expenditure, statutory transfer, debt service, recurrent non-debt expenditure and capital expenditure, with the sum specified against each sub-head.
Consequently, at the sitting of 10 July 2008, the Senate, after debating the general principles of the bill, referred it to the committee on appropriation, in line with the Senate Standing Order 94, Sub-section 4, as amended in 2007 for further legislative action.