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The Senate today, Wednesday, 9th
of April, 2014 passed N4.69 trillion as budget for the 2014 fiscal year, nearly
four months after it was presented by Ngozi Okonjo-Iweala, on behalf of the
President. The executive had proposed N4.642 trillion, but the amount was
jerked up with an additional N53 billion, by the upper chamber.
27% of the budget sum, which is N1.1
trillion is for capital expenditure, while the remaining 73% goes to running
the government – N2.454 trillion for recurrent expenditure, N408.6 billion for
statutory transfers, and another N712 billion is for debt service.
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