President Jonathan to present 2015 appropriation of #4.4trillion to National Assembly

By admin on 16/12/2014

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President Goodluck Jonathan will on Wednesday December 17,present the 2015 appropriation of #4.4trillion to the National Assembly.

President Jonathan in a letter to the senate, through the senate president David Mark,read on the floor of the house, showed a revision of the oil benchmark from the initial $73 per barrel to $65 per barrel.

The president also informed the senate that the Minister of Finance, Dr. Ngozi Okonjo-Iweala would lay the budget estimate on the floor of the house.

The revised budget estimate show that #627.16 billion will be spent on Capital expenditure,which includes #380.70 billion for Ministries, Departments and Agencies, #144 42 billio will be Capital expenditure in Statutory transfers and #102.03 billion for the Subsidy Re-investment Empowerment Programme,SURE-P.

Recurrent expenditure will recieve #2,622.42 trillion,which includes personnel costs for MDAs that stands at #1,801 trillion, overheads #216,56 billion, pensions #228,81 billion and #376.05 billion budgeted for other service wide votes.

Service on domestic debt is expected to gulp #894.61 billion while that of foreign debt will take #48.39 billion.

President Jonathan had in October presented to the National Assembly, a budget proposal of #4.817 trillion with oil benchmark of $78 per barrel,then latter cut it to #4.7 trillion with the benchmark at $75 per barrel and now for the third time revised the oil benchmark to $65 per barrel with the total budget size of #4.4 trillion against #4,724.69 trillion budgeted in 2014


Posted on December, 17 2014

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