Sequel to the adoption of the report of the Committee on Appropriation, the House of Representatives on Thursday, passed the 2017 budget totaling N7. 44 trillion.
The Joint Committee on Appropriation met on Wednesday to harmonise the budget reports which were laid at the Senate and House of Representatives on Tuesday.
Also, following the presentation of 2017 budget report by the Senate chairman on Appropriation, Senator Danjuma Goje, the Senate at plenary passed the budget.
Highlights of the budget are: statutory transfers – N434 billion, Debt servicing – N1.8 trillion, sinking fund for maturity bonds- N177.5 billion, Recurrent Expenditure – N2.99 trillion while Capital Expenditure gets N2.18 trillion.
The breakdown shows that the Ministry of Power, Worksand Housing got the highest Allocation of N586.54 billion, Education got N455.41 billion and Health – N308.46 billion.
It could be recalled that Senate President Bukola Saraki, had promised last week when the laying of the budget was stepped down that it would be passed today, Thursday. -PromptNews
