May 16, 2018 / 3:01 PM / 9 days ago

Nigeria's Senate passes record 9.12 trln naira 2018 budget

ABUJA, May 16 (Reuters) - Nigeria’s upper house of parliament passed a record 9.12 trillion naira ($30 billion) budget for 2018 on Wednesday.

The total sum laid out in the plan passed by the Senate is higher than the 8.6 trillion naira budget presented to parliament by President Muhammadu Buhari in November. Lawmakers said the increase was due to the assumed oil price rising to $51 per barrel, up from $45 in Buhari’s earlier version. (Reporting by Camillus Eboh; Writing by Alexis Akwagyiram Editing by Richard Balmforth)

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