The National Assembly has in response to concerns raised by President Umaru Yar’Adua, reduced the 2008 budget from N2. 9tn to N2.7tn.

The Deputy Senate President, Senator Ike Ekweremadu, said this while presenting the report of “The National Assembly Ad-Hoc Committee on the Year 2008 Appropriation Bill” during plenary on Wednesday.

The joint ad-hoc committee report read in part: “The committee recommends an aggregate reduction in the sum of one hundred and fifty billion, eight hundred million, eight hundred and fifty nine thousand, three hundred and nineteen naira (N150, 800,859,319).”

The committee said it held several meetings in furtherance of its mandate and considered the various observations made by the President and resolved to, among other things:

Recommend a downward adjustment in statutory transfer to the National Judicial Council by one billion naira (N1, 000,000,000) only.

- Recommend downward adjustments in the recurrent expenditures of the following MDAs: Defence /Army/Air Force, Transportation, National Assembly, General Services, and Judgment Debts.

The committee also recommended a reduction of N107, 000,000,000 (One hundred and seven billion naira) only, from the capital expenditure.

The other affected MDAs are: Agriculture and Water Resources, Federal Capital Territory, Health, Interior, Science and Technology, National Sports Commission, National Planning Commission, Code of Conduct Bureau, Police Service Commission and the National Assembly.

With regards to the adjustment in the revenue profile, the ad-hoc committee in furtherance to the President’s observations removed the N100 bn increase to the independent revenue item and accordingly recommended the retention of the executive proposal.

Source: Punch