The Senate today, Wednesday, 9th of April, 2014 passed
N4.69 trillion as budget for the 2014 fiscal year, nearly four months after it
was presented by Ngozi Okonjo-Iweala, on behalf of the President. The executive
had proposed N4.642 trillion, but the amount was jerked up with an additional
N53 billion, by the upper chamber.
27% of the budget sum, which is N1.1 trillion is for capital
expenditure, while the remaining 73% goes to running the government – N2.454
trillion for recurrent expenditure, N408.6 billion for statutory transfers, and
another N712 billion is for debt service.
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