Six months after it was laid before a joint session of the National Assembly, the Senate and House of Representatives Committees on Appropriation Tuesday laid the report of the 2018 budget at plenary, increasing the federal government’s expenditure for the year by almost N500 billion to N9.120 trillion.
In the upper chamber, the document was laid by Senator Danjuma Goje, chairman of the committee, while his counterpart in the House, Hon. Mustapha Bala Madaki, laid that of the lower legislative chamber.
The Deputy Speaker, Hon. Yussuff Lasun, who presided over plenary in the House Tuesday said the budget would probably be passed Wednesday, but in the event that the House is unable to conclude work on the Appropriation Bill Wednesday, it will be passed Thursday.
A breakdown of the new estimates showed that of the N9.12 trillion budget, the sum of N530.4 billion was earmarked for statutory transfers, while the sum of N2.204 trillion was set aside for debt service, of which N190 billion is for the sinking fund for maturing loans
Recurrent (non-debt) expenditure for the 2018 budget was put at N3.52 trillion while N2.87 trillion was estimated as contribution to the development fund for capital expenditure (exclusive of capital expenditure in statutory transfers).