Reps Passes N4.493 Trillion 2015 Appropriation BillFeatured, Latest News, News Thursday, April 23rd, 2015
Ayodele Afolabi, Abuja – The House of Representatives Thursday passed the 2015 Appropriation bill of N4.493, 363, 957, 158 trillion.
The budget was made up of N2, 607, 132, 491, 708 trillion for recurrent expenditure and N701, 415, 465, 449 billion for capital expenditure.
Also, the sum of N375, 616 billion was included in the budget for statutory transfers to the National Judicial Council (N73bn); Niger Delta Development Commission (N46.72bn); Universal Basic Education (N68. 38bn); National Assembly (N120bn); Public Complaints Commission (N4bn); INEC (N62bn) and the National Human Rights Commission (N1. 516bn) while the sum of N953, 620 billion is for debt service.
Out of the total amount appropriated for debt service, N894, 610 billion was allocated for the servicing of domestic debts and N59, 010 billion for the servicing of foreign debts.
The highest sectoral allocation under the capital expenditure in the 2015 budget went to defence with an allocation of N36, 700 billion; followed by the office of the National Security Adviser with N26, 499 billion, education with N23, 520 billion and health with an allocation of N22, 676 billion.
They were followed by the Ministry of Works (N19, 812bn); the police (N17, 8bn); water resources (N15, 778bn); Federal Capital Territory Administration (N13,5bn); office of the Secretary to the Government of the Federation (N9, 623bn); agriculture and rural development (N8, 752bn) transport (N8, 3bn) and the aviation sector with N5, 840 billion.
Under the supplementation expenditure, outstanding commitments on 2014 constituency projects and special intervention/constituency projects received an allocation of N50 billion each respectively, while conditional grants and social safety nets (MDGs) had an allocation of N35, 284 billion; sinking fund for infrastructural development (N20bn); just as special intervention (MDGs 1and 2) had an allocation of N15, 378bn and N15, 018 billion respectively.
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