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Thursday, 11 May 2017

BREAKING News: National Assembly Passes 2017 Budget...Here All the Financial Breakdown

Senate President, Bukola Saraki
The 2017 Appropriations Bill proposed by President Muhammadu Buhari in December last year, has been passed by the National Assembly, on Thursday, 11th May, 2015. The National Assembly has passed the 2017 Appropriations Bill, raising the budget from N7.28 billion earlier proposed by President Muhammadu Buhari in December last year, to N7.44 trillion.
The Appropriations Committees of the Senate and the House of Representatives separately presented their harmonised reports of the budget for consideration and subsequent passage on Thursday.
According to the report,
1. N434.4 billion was appropriated for statutory transfers to the National Judicial Council (N100 billion);
2. Niger Delta Development Commission (N64.02 billion)
3. Universal Basic Education (N95.2 billion);
4. National Assembly (N125 billion);
5. Public Complaints Commission (N4 billion)
6. INEC (N45 billion)
7. National Human Rights Commission (N1.2 billion).
The seven establishments are to get allocations on first line charge. In practice, the spending details of these offices are not made public.
Here's a full breakdown of the budget we culled from Nigerian Senate Twitter handle @NGRSenate;
2017 Budget Breakdown: 
Debt Service (Local & Foreign): N1,663,885,430,499. 
Sinking Fund: N177,460,296,707 
Total Debt Service: N1,849,345,727,206. 
Recurrent Non-debt expenditure: N2,086,176,493,860 
Federal Executive Bodies: N1,413,441,659.90
Service wide Votes & Pension: N191,631,846,958 
Total Pensions: N191,631,846,956. 
Other service wide votes: N138,700,000,000 
Reforms to Special Acts: N40,000,000,000 
Special Intervention recurrent (Heads):N350,000,000,000
Presidential Amnesty Programme Stipends: N766,700,000,000 
Total Recurrent: N987,550,033,000 
Capital Expenditure: N1,710,580,601,619
Head of sub-total Federal Executive Bodies: N7,248,944,788 
Head of Federal Executive Bodies: N1,717,829,446,407
Capital Supplementation: N7,441,175,486,755. 

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