Jonathan presents 2013 budget tomorrow

President Goodluck Jonathan will on 10 October present the 2013 budget to a joint session of the National Assembly (NASS).

The President in a letter addressed to Senate President, David Mark, on Tuesday in Abuja, which was read out to the senators, urged the NASS to allow him to present the budget by 10:00 a.m.

The letter read in part; ‘’as a follow up to my letter of Sept. 21, 2012, I write to crave your kind indulgence to grant me the slot of 10:am on Wednesday Oct. 10, 2012.

“This is to enable me formerly address a joint session of the National Assembly on the 2013 budget.’’

Jonathan thanked the senators for their constant support and assured them of his highest esteem.

The president had earlier sought the approval of the NASS to present the budget on 4 October, but the date had to be shifted.

The Senate Leader, Victor Ndoma-Egba, moved a motion, which was unanimously adopted, that the senators move to the House of Representatives Chamber on Wednesday to receive the document.

The senators, however, resolved to hold plenary session by 9:am on Wednesday to enable them quickly deliberate on some issues before the budget presentation.

The budget approved by the Senate for the current year was N4,877, 209,156,933.

It was N229 billion higher than the revised budget of N4.648 trillion sent to the Assembly by President Goodluck Jonathan.

The budget pegged oil benchmark $72 bpd which is to help reduce provision for deficit budget of N1.162 trillion by N98 billion.

It also includes N888 billion funding for oil subsidy programme, beside another N180 billion provided for Subsidy Re-investment Programme, SURE.

In the details of the budget, statutory transfers was put at N372 billion, debt service N559billion, recurrent expenditure N2.4 trillion and capital expenditure was N1.5 trillion