Nigeria Senate Approved N4.69Trillion For 2014 Budget...73% For Running The Government

 

The Senate on Wednesday, 9^th 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.