The principal committees to tinker with the budget are Appropriation and Finance which were giving three weeks to return it to the plenary for final passage into law.
The Senate spent over four hours in the plenary session to x-ray the performance of the 2012 budget and also debate the 2013 appropriation Bill.
Senate Leader, Senator Victor Ndoma-Egba who led debate on the general principles of the Bill, explained that the Bill was for an Act to authorize the issuance from the consolidated revenue fund of the federation with the total sum of N4, 924,624,604,000,000 only, of which N380, 020 billion only is for statutory transfer, N591, 764 billion is for debt services.
Further breakdown of the budget shows th
Ndoma-Egba (Cross River), also noted that there should be slight change in the 2013 budget to accommodate the huge losses recorded through flood in the country.
In his remark, President of the Senate, Senator David Mark declared the need for effective implementation of the budget and urged senators to always strive to take their oversight function religiousl, saying that until members consciously carry out constitutional role of over-sighting progress projects implementation the nation would continue to witness poor budget implementation.
However, the senate adjourned for two weeks to allow the committees to work on the budget and return it for early passage. They will resume on November 6.
SOURCE: 19 October 2012.
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