National assembly raises 2017 budget by N143bn
The national assembly on Tuesday received the report of 2017 N7.30 trillion budget proposal from its committees.
The report, which was laid at the upper and lower chambers, indicated that the committees increased the figures to N7.44 trillion, representing an addition of about N143 billion to the one presented by President Muhammadu Buhari on December 14.
According to the report, N434.4 billion is for statutory transfer, N1.84 trillion for debt servicing and N177.46 billion for sinking fund for maturing bonds.
The committees appropriated N2.99 trillion for recurrent (non-debt) expenditure, while N2.17 trillion was provided for contribution to the development fund for capital expenditure.
In 2016 a similar increase in the budget sparked series of controversy as one of the representatives alleged that the budget was “padded”.
Abdulmunin Jibrin, suspended member of the house of reps, had raised allegations that the leadership of the house had increased the appropriation bill for their own personal interest.
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