Posted by From AMOS DUNIA and OLUWOLE AKINBOYEWA, Abuja on
The Senate on Wednesday passed an aggregate of N2.647 trillion as 2008 Appropriation Amendment Act presented to it in June by President Umar Musa YaríAdua as against the N2.750 trillion it passed earlier in the year.
The Senate on Wednesday passed an aggregate of N2.647 trillion as 2008 Appropriation Amendment Act presented to it in June by President Umar Musa YaríAdua as against the N2.750 trillion it passed earlier in the year.
The Senate, which reconvened solely for the purpose of passing the 2008 budget into law, made a reduction of N103 billion to conform to what the House of Representatives passed two weeks ago before proceeding on recess.
The Senate approved budget showed that N781 million was provided for the implementation of the reviewed Teachers Salary Structure (TSS) for school teachers while N1 billion was provided for the creation of the new Bakassi Local Government Area that is being recreated, owing to ceding of the peninsula to the Republic of Cameroon.
In the same vein a total of N162.57 billion was earmarked for statutory transfers, just as N372.2 billion has been earmarked for debt servicing.
Similarly, the approved budget by the Senate indicated that the sum of N1.362 trillion was provided for recurrent (non-debt) expenditure, while N786.16 billion has been earmarked for capital expenditure.
However, in spite of the fact that the two Chambers of the National Assembly passed the same figure, a cursory look at the details of the budget showed some differentials.
In this wise, the Senate constituted a harmonisation committee led by the Chairman of the Senate Committee on Appropriation Senator Iyiola Imisore.
Briefing journalists at the end of the Senate session yesterday, Chairman of Senate Committee on Information and Media, Senator Ayogu Eze, said that the Senate was impressed by the level of implementation of the budget in spite of President Yar' Adua's initial reservations.
'We want to assure Nigerians that the National Assembly is quite impressed that in spite of what is going on and in spite of the amendment, the President has gone ahead to implement the 2008 Appropriation Act as passed by the National Assembly,' Eze said.
The Senate spokesman explained that the action by the executive showed it was not only mouthing the principles of rule of law and good governance but prepared to put it into action.
According to him; 'Although the action taken of the National Assembly was not satisfactory to the President, he still went ahead and signed the budget in May, after he brokered an understanding with the leadership of the legislature that it would be followed up with a amendment bill.'