ABUJA: THE 2015 Appropriation Bill has passed second reading at the Senate. Senate Leader, Victor Ndoma-Egba, said the bill was deemed to have been read the first time by virtue of it being laid before the chamber last December.
He said the bill sought to authorize the issue from the Consolidated Revenue Fund of the Federation the total sum of N4 357 960 000 as against the 2014 budget of N4,6 trillion.
The Senate leader said that the 2015 budget was designed to build on the successes of the 2014 budget with emphasis on fiscal consolidation, inclusive growth and job creation.
Egba said the budget is premised on the 2015-2017 Medium Term Expenditure Framework and Fiscal Strategy Paper which takes consideration of the heightened global economic uncertainty in 2014.
He added that the 2015 budget was a framework that would consolidate and add impetus to the transformation agenda of the administration and will promote economic growth, job creation, poverty reduction and service delivery.
The senate leader said all the proposal in the budget are laudable and are tailored to meet the critical needs of the country. He urges senators to support the second reading of the bill and commit it to the committees for detailed consideration.
In supporting the passage of the bill, Senator Ahmed Makarifi, said the budget is a wake up call for government to look into other sources of revenue.
He also called for cut-down in cost of governance. Senator Adetunji Olubumi questioned the empirical bases used in projecting the daily crude oil production.
In his remarks, Deputy Senate President, Ike Ekweremadu, said it was imperative the country looked into other sources of revenue.
“The downward trend in our revenue is a wake call for the federal government to develop new areas of revenue. We should also think about fiscal federalism and fiscal management,” he said.
SOUREC: CAJ NEWS AGENCY