Tuesday, November 20, 2018
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N’assembly adds N500bn to 2018 budget

N’assembly adds N500bn to 2018 budget
May 15
12:45 2018
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The national assembly has increased the size of the 2018 budget to N9.120 trillion from N8.612 trillion.

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

The budget was laid before the senate by Danjuma Goje, chairman of the senate appropriation committee.

Yusuf Lasun, speaker of the house, who presided over Tuesday’s session at the house of representatives, said lawmakers will consider and pass the budget on Wednesday or Thursday.

He 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,” the order paper read.

Here are some of the differences as seen 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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