Senate Passes N4.69trn 2014 Budget

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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