Senate Passes Supplementary Budget With an Upward Review of N108BN
The senate has passed the 2015 supplementary appropriation bill of 574.5 billion naira to service fuel subsidy payment security and other National needs.
The senate committee on appropriation recommended for the upward review of the budget with One hundred and eight Billion (108 billion) naira to meet up subsidy payment for the last three months of the year.
In the same vein, the House of Representatives has adopted the report of its joint Committee on Appropriations, Finance and AIDS, Loans and Debt Management on the 2015 supplementary appropriation bill.
Additional One hundred and eight Billion, eight hundred and ninety-five million, eighty hundred thousand naira was approved by the House to cover outstanding subsidy claims.
The House is yet to approve the supplementary budget at 3rd reading.