The Senate passed the sum of N4.493 trillion budget for the 2015 fiscal year, assuming a benchmark of $50 per barrel oil price, lower than the $52 it proposed in February.
The senate passed a N4.49 trillion ($23 billion) budget for 2015, lower than last year’s N4.64 trillion and based on an exchange rate assumption of N190 to the dollar.
The budget passed, on Tuesday, came with an increment of N135.4 billion above what the executive arm of government earlier prepared and submitted to the National Assembly for approval.
