The House of Reps has passed a budget of N4.493 trillion for the year
2015. This figure is N135.4 billion higher than the N4.357 trillion
proposed by the president when he sent the proposal through Dr. Ngozi
Okonjo Iweala in November 2014.
According to the budget passed, President Jonathan and other former presidents and vice presidents will be maintained with N2.3 billion.
The Nigerian police force will be receiving an improved remuneration package of N11.755 billion.
According to the budget passed, President Jonathan and other former presidents and vice presidents will be maintained with N2.3 billion.
The Nigerian police force will be receiving an improved remuneration package of N11.755 billion.
"The budget was passed on the basis of oil sales at $53 per barrel, production estimate of 2.2782million barrels per day and an exchange rate of N190/US dollar.
The budget is pegged on a deficit of N1,075.303 trillion representing
1.12 percent as deficit/GDP respectively.Breakdown of the final amount
passed showed that N375.616 billion is for statutory transfer; N953.620
is for debt service; N2,607,132,491,708 is for recurrent (non-debt)
expenditure while the sum of N556,995,465,449 is for capital expenditure
in statutory transfer inclusive of N144.420 billion is for contribution
to the development fund capital expenditure"
"Under statutory transfers, Niger Delta Development Commission’s allocation was raised from N45.780 billion to N46.720 billion; Universal Basic Education’s allocation was raised from N67.3 billion to N68.380 billion; National Assembly’s allocation was raised from N115 billion to N120 billion; Public Complaint Commission’s allocation was raised from N2 billion to N4 billion while National Human Right Commission’s allocation was raised from N1.2 billion to N1.516 billion.Meanwhile, the House retained the sums of N73 billion for the National Judicial Council and N62 billion for Independent National Electoral Commission were retained.
The breakdown shows that the sum of N153,330,022,460 is for Interior; N69,423,427,479 is for Youth Development; N62,226,771,999 is for office of the National Security Adviser; N58,274,429,975 is for Petroleum Resources; N48,389,942,264 is for Secretary to the Government of the Federation; N41,649,382,166 is for Foreign Affairs while N31,869,020,717 is for Agriculture and Rural Development.
The sums of N26,590,103,366 is for Science and Technology; N25,173,916,543 is for Works; N23,682,420,241 is for Information; N20,085,865,120 is for Presidency; N18,081,478,935 is for Tourism, Culture and National Orientation; N15,559,334,341 is for Environment; N10,941,859,480 is for Trade and Investment while N10,592,048,381 is for Communication Technology.From the N13,965,664,092 approved for the eight Federal Executive bodies, the sums of N5,293,800,054 is for National Population Commission; N1,935,767,344 is for Code of Conduct Bureau; N493,656,088 is for Code of Conduct Tribunal; N2,207,213,456 is for Revenue Mobilisation Allocation and Fiscal Commission; N1,125,005,114 is for Federal Civil Service Commission; N740,477,185 is for Police Service Commission while N2,167,931,068 is for Federal Character Commission."
"Under statutory transfers, Niger Delta Development Commission’s allocation was raised from N45.780 billion to N46.720 billion; Universal Basic Education’s allocation was raised from N67.3 billion to N68.380 billion; National Assembly’s allocation was raised from N115 billion to N120 billion; Public Complaint Commission’s allocation was raised from N2 billion to N4 billion while National Human Right Commission’s allocation was raised from N1.2 billion to N1.516 billion.Meanwhile, the House retained the sums of N73 billion for the National Judicial Council and N62 billion for Independent National Electoral Commission were retained.
The breakdown shows that the sum of N153,330,022,460 is for Interior; N69,423,427,479 is for Youth Development; N62,226,771,999 is for office of the National Security Adviser; N58,274,429,975 is for Petroleum Resources; N48,389,942,264 is for Secretary to the Government of the Federation; N41,649,382,166 is for Foreign Affairs while N31,869,020,717 is for Agriculture and Rural Development.
The sums of N26,590,103,366 is for Science and Technology; N25,173,916,543 is for Works; N23,682,420,241 is for Information; N20,085,865,120 is for Presidency; N18,081,478,935 is for Tourism, Culture and National Orientation; N15,559,334,341 is for Environment; N10,941,859,480 is for Trade and Investment while N10,592,048,381 is for Communication Technology.From the N13,965,664,092 approved for the eight Federal Executive bodies, the sums of N5,293,800,054 is for National Population Commission; N1,935,767,344 is for Code of Conduct Bureau; N493,656,088 is for Code of Conduct Tribunal; N2,207,213,456 is for Revenue Mobilisation Allocation and Fiscal Commission; N1,125,005,114 is for Federal Civil Service Commission; N740,477,185 is for Police Service Commission while N2,167,931,068 is for Federal Character Commission."
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