The National Assembly yesterday approved the 2016 budget with a reduction of N17.8bn from the N6.077tr presented by President Muhammadu Buhari. Buhari had in December presented a budget of N6.07trillion but the lawmakers cut it to N6.06trillion, a reduction of N17billion.

Daily Trust correspondents say it was the first time the budget would be reduced at the National Assembly since the return of democracy in 1999. The reduction, according to the chairman of the Senate Committee on Appropriation, Senator Danjuma Goje, occurred in the recurrent expenditure.

The assembly adopted a benchmark price of $38 per barrel of crude oil with crude oil production of 2.2 million barrels per day and an exchange rate of N197 to $1.

The breakdown of the budget showed statutory transfers; N351,370,000,000, debt service N1,475,320,000,000, recurrent expenditure N2,646,389,236,196, capital expenditure N1,587,598,122,031 and fiscal deficit of N2,204, 936,925,711.16.

The lawmakers also unanimously approved that the budget runs for a course of 12 months, starting from the date it is assented to in line with Section 318 of the 1999 Constitution. Deputy Senate President Senator Ike Ekweremadu said the shortfall in the personnel cost should have been addressed.

"If there were mistakes, it will not be good for us to allow it go. We should have find ways to fill it. You cannot blame the executive, " he said. Reacting to Ekweremadu, Senator Goje said:" The budget is full of controversies and we 'want to add to it ".

In his remarks, the Senate President Bukola Saraki said the budget reflected efficient and equitable allocation of resources.

Meanwhile, the Senate has approved the votes and proceedings of yesterday's sitting to enable them transmit the budget to President Buhari for assent. But at the House of Representatives, the budget was only passed but they did not approve the votes and proceedings. The lawmakers have embarked on a three-week recess for the Easter celebration. They are to resume on April 12.

Senate President Bukola Saraki however failed to redeem his pledge to make the budget of the National Assembly public. He had on several occasions promised to make the breakdown of the National Assembly budget available for public scrutiny.