Home Business Nigeria: NASS passes 2017 Budget, raises it to N7.44trn

Nigeria: NASS passes 2017 Budget, raises it to N7.44trn


Image result for Nigeria's 2017 budgetNigeria’s lower chamber, the House of Representatives has approved 7.44 trillion naira for the 2017 fiscal year.

The lawmakers were unanimous in carrying all clauses of the bill, save for when the budget proposal for the office of the Secretary to the Government of the Federation was mentioned.

National Assembly Correspondent, Joke Adisa reports that barely forty eight hours after the 2017 Appropriation Bill was laid, the House lived up to its promise of passing it into law on Thursday.

The Appropriation Committee Chairman, Mustapha Dawaki moved for the consideration of his committee’s report on the budget

From the List of Schedules to the clause by clause consideration, members passed the committee’s recommendations as the House dissolved into the committee supply.

In the budget breakdown, total capital expenditure stands at 2.17 trillion naira, recurrent expenditure, non debt, is 2.98 trillion naira, 434.41 billion naira for statutory transfers, 1.84 billion naira debt service and 177.46 billion naira for Sinking Fund for maturing bonds.


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