Home News House of Representatives to Pass 2018 Budget On Wednesday
News

House of Representatives to Pass 2018 Budget On Wednesday

Share
Share

The House of Representatives on Tuesday said the 2018 Budget of N9.12 trillion would be passed on Wednesday, May 16.

Deputy Speaker of the House, Yusuf Lasun, who presided at plenary, made this known after the budget report was presented by the Chairman, Committee on Appropriation, Honourable Mustapha Dawaki.

The N9.12 trillion-Budget is N410 billion higher than N8.61 trillion appropriated in 2017.

Lasun advised members to pick copies of the budget from the appropriation committee as the House was likely to pass the budget on Wednesday.

Controversy had trailed the delay in the passage of the bill, with the National Assembly accusing Ministries, Departments and Agencies (MDAs) of failing to defend their budget proposals.

The delay had prompted President Muhammadu Buhari to issue a deadline to heads of all MDAs to defend their budgets unfailingly.

A breakdown of the budget indicates that N530.4 billion is for statutory transfer, N2.20 trillion for debt service and N199 billion for sinking fund for maturing loans.

Also, N3.51 trillion is allocated to recurrent (non-debt) expenditure, while N2.87 trillion is earmarked for development fund for capital expenditure.

Share
Related News
News

Nigeria’s Hajj Commission Reduces 2026 Pilgrimage Fare, Sets Final Payment Deadline

The National Hajj Commission of Nigeria (NAHCON) has announced a major reduction...

News

Fed Govt To List N1tr Real Estate Fund On NGX To Boost Affordable Housing

The Federal Government will tomorrow list its N1 trillion real estate investment...

News

Zamfara Governor Approves Construction Of New NUJ Secretariat In Gusau

Zamfara State Governor Dauda Lawal has approved the construction of a new...

News

Ned Nwoko Alleges Enemies Exploiting Regina Daniels’ Health To Damage His Reputation

Senator Ned Nwoko, who represents Delta North Senatorial District in Nigeria’s National...