National Assembly Increases 2018 Budget From N8.612 Trillion To N9.120 trillion

The House of Representatives has jacked up the 2018 budget from the N8.612 trillion figure presented by President Muhammadu Buhari last November to N9,120,334,988,225.

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

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

Yusuf Lasun, speaker of the house, who presided over Tuesday’s session said the 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.”

According to the document laid at the House on Tuesday, N530,421,368,624 was proposed for statutory transfer; N2,869,600,351,825 for development fund for capital expenditure; N3,516,477,902,077 for recurrent (non debt) expenditure while N2,203,835,365,699 is for debt service; and N199bn for sinking fund for maturing loan.

Here are some of the differences as seen on the order paper:

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