Senate Passes 2020 Budget

December 5, 2019
Senate Passes 2020 Budget

By Dipo Olowookere

The 2020 Appropriation Bill presented to a joint session of the National Assembly by President Muhammadu in October 2019 has been passed by the Senate.

The upper legislative chamber of the parliament read the 2020 budget for the third time after it was presented by Senator Barau Jibrin of the Committee on Appropriations on the 2020 Appropriation Bill.

Business Post reports that the lawmakers later passed the bill after the Senate dissolved into the Committee of Supply for the clause by clause consideration of the report.

But before it was passed, the immediate past Senate President, Mr Ike Ekweremadu, thanked the committee and leaders of the parliament. He said, “In looking at this budget there were a lot of constraints and we would have also done better in some areas.

“The first is the exchange rate, the next year budget should also find a way of addressing unemployment. Nigeria has not shown interest in environmental issues and this year has about N9 billion for the whole of environment.

“We need to do something about security and provide for those key sectors and provide a safe atmosphere for people to go about their business. I move that this Bill be fully considered and passed today.”

On her part, former Minister of Aviation, Mrs Stella Oduah, opined that, “This appropriation prioritizes what we are all clamouring for and that is security. If you look at the budget, the security takes a lion share. I want to commend the Committee and urge my colleagues to support this wonderful bill.”

Former Governor of Benue State, Mr Gabriel Suswam, stated that, “I support that we pass this budget today but I want to make an appeal to have an executive session after we pass this budget to address some issues that affect all of us.”

Senator Solomon Adeola, in his contribution, commended Chairman and members of the Appropriations Committee, saying, “The Committee has worked within the parameters to ensure they give a budget that will work for the common man and a budget that will take us to the next level.”

“I want to extend my gratitude and thanks to all my Distinguished colleagues who worked really hard to make sure that this budget sees the light of the day within the time frame that we have set for ourselves.

“I congratulate everyone for their commitment and for the hard work. I want to thank the executive arm of government for the unprecedented urgency that they have presented the budget and we hope that highest preparations will be done towards the 2021 budget,” Mr Yahaya Abdullahi submitted.

“What is important is the immediate execution of this budget. The issue of oversight should be non-negotiable. We should remind the executive that in this 9th Senate we will take the issue of oversight more serious,” Mr Rochas Okorocha, the immediate past Governor of Imo State, said.

After the budget was passed, Senator Bassey Akpan said, “The focus should now shift on pursuing revenue to ensure the implementation of the budget.”

Senate President, Mr Ahmad Lawan, “This could not have been possible without the efforts all of you have put. When we came in, all of us approved our legislative agenda which was to ensure we take back our budget cycle to a cycle that could easily be defined and to something that could easily be bought into.

“Today, we have been able to achieve this. I must give members of the 9th National Assembly the credit. Let me also commend the executive arm of government.

“We pray that the executive is able to implement the budget fully. Once again, I want to congratulate all of us here and I hope we continue to work together as colleagues to ensure the 2020 budget is fully implemented.”

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

Leave a Reply

Ecobank Unusual Entrepreneurs
Previous Story

Ecobank Nigeria’s Support for Entrepreneurs Lauded

Nigeria's Bonny Light Crude
Next Story

Nigeria’s Bonny Light Crude Hits $64 as OPEC Begins Meeting

Latest from Economy