NATIONAL ASSEMBLY INCREASES 2018 BUDGET BY OVER 500 BILLION NAIRA

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NATIONAL ASSEMBLY INCREASES 2018 BUDGET BY OVER 500 BILLION NAIRA

Nigeria’s national assembly reportedly increased the size of the 2018 budget to 9.120 trillion Naira from 8.612 trillion Naira.

The details of the budget were listed on the order paper available at the senate.

Senator Danjuma Goje, chairman senate appropriation committee laid the budget on Tuesday at plenary.

Yusuf Lasun, deputy speaker of the house, who presided over Tuesday May 15, 2018 session said the lawmakers will consider and pass the budget on Wednesday or Thursday.

Hon. Lasun said:

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

“That the house do receive the report of the committee on appropriations on a bill for an act to authorize the issue from the consolidated revenue fund of the federation, the total sum of N9, 120,334,988,225 (Nine Trillion, One Hundred and Twenty Billion, Three Hundred and Thirty-Four Million, Nine Hundred and Eighty-Eight Thousand, Two Hundred and Twenty-Five Naira) only”.

Below are some of the differences as captured on the order paper

ItemFG proposalChange
Debt serviceN2.01 trillionN2.20 trillion
Statutory transferN456 billionN530 billion
Maturing loansN220 billionN190 billion
Recurrent expenditureN3.49 trillionN3.51 trillion
Capital expenditureN2.42 trillionN2.86 trillion

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