House passes 4.4 trillion Naira Appropriation Bill

House passes 4.4 trillion Naira Appropriation Bill
Latifat Afrgbua, Abuja

The Nigerian House of Representatives has passed a 4.4 trillion Naira Appropriation Act amendment bill, 2011.

Both chambers of the National Assembly had on March sixteenth passed a budget of 4.9 trillion Naira an increase of 700 billion Naira, as against the 4.2 trillion Naira earlier sent to the National Assembly by President Goodluck Jonathan.

President Jonathan had on Tuesday May 24, requested the House to amend the budget. 

The budget was based on assumption of 75 dollars per barrel and oil production rate of 2.3 million barrels per day, an exchange rate of 150 Naira to a US dollar.

The House also passed the Federal Capital Territory budget of 236.1 billion Naira.

Williams