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© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

House of Representatives to Pass 2018 Budget On Wednesday

Farouk Mohammed
By Farouk Mohammed
Published: May 15, 2018
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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.

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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.

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ByFarouk Mohammed
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Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
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