Business

National Assembly Raises Budget to N9.12tn

Again National Assembly transmits controversial electoral bill to Buhari
By Editor

The National Assembly has raised the figures of the 2018 Appropriation Bill from N8.612 trillion earlier presented by President Muhammadu Buhari to N9.120 trillion.

The breakdown of the budget was contained in an order paper presented at the Senate during the plenary on Tuesday.

According to the paper, N530.4bn was proposed for Statutory Transfer, N2.2tn for Debt Servicing, N190bn for Sinking Fund for maturing bonds, N3.51tn for Recurrent Non Debt Expenditure.

The House proposed N2.86tn as contribution to the Development Fund for Capital Expenditure.

Read also: Customs generates N9bn from Kaduna zone in Q1

President Buhari had earlier presented a budget proposal containing N456bn for Statutory Transfer, N2.01tn for Debt Servicing, N220bn for Sinking Fund for maturing loans, N3.49tn Recurrent Non Debt Expenditure and N2.42tn for Development Fund for Capital Expenditure amounting to a sum of N8.612tn.

The Deputy Speaker, Yusuf Lasun, who presided over the plenary at the House of Representatives on Tuesday expressed optimism that the budget would be passed on Wednesday or Thursday.

According to him, “We will begin the consideration tomorrow (Wednesday) afternoon and pass it, but if we are not able to, we will finish on Thursday.”

 

RipplesNigeria… without borders, without fears

Click here to join the Ripples Nigeria WhatsApp group for latest updates.

Join the conversation

Opinions

About the author

Editor

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.