Budget amendment scales second reading at Senate

Controversy surrounding the amendment of the 2013 budget might have been laid to rest as the Senate read the bill for that purpose for the second time, acceding to the proposals of the executive.

Leader of the Senate, Victor Ndoma-Egba, while leading the debate, said the amendment bill sought to authorise the issue of N4.987tn from the Consolidated Revenue Fund of the Federation.

Further breakdown of the budget amendment proposals has N388.06bn for statutory transfers; debt service, N591.76bn; recurrent expenditure, N2.419tn; and capital expenditure, N1.589tn.

According to Ndoma-Egba, the areas of amendment in the budget are categorised as critical and important expenditures.

Ndoma-Egba noted that personnel cost was cut across all the Ministries, Departments and Agencies, which would pose some difficulties in the running of the agencies, adding that there was the need for the cuts to be restored to maintain industrial harmony.