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Senate Passes 2018 Budget For 2nd Reading, Suspends Plenary For 2 Weeks

The Senate has raised the oil benchmark for the 2018 budget from the $45 per barrel as proposed by the Federal Government to $47.

The Senate took the decision at the plenary on Tuesday, after the consideration and adoption of the report by its Joint Committee on Finance, Appropriations, and National Planning and Economic Affairs on the 2018-2020 Medium Term Expenditure Framework and Fiscal Strategy Paper.

The Senate also passed the 2018 Appropriation Bill for second reading.

The bill was referred to the Committee on Appropriations for further legislative action.

The upper chamber of the National Assembly however adjourned plenary to December 19, 2017, to allow the standing committees to hold budget defence sessions for federal ministries, departments and agencies.