• Recurrent, capital expenditures get N4.84tr, N2.4tr• Lawmakers put budget deficit at N2.28 trillion
In the approved budget, defence got the highest vote for recurrent expenditure with N784, 589 billion. It also got the highest vote of N116.181 billion for capital expenditure. The education sector got the second highest recurrent expenditure of N490.303 billion as well as N84.728 billion for capital expenditure.
Presenting a report to the Senate earlier yesterday, chairman of the Appropriation Committee, Barau Jibrin, disclosed that his panel worked harmoniously with the executive arm of government in the processing of the bill “which ensured the collaboration of the two arms in the utilization of additional revenue projections to fund/improve the funding of some critical projects which could not be adequately funded in the budget proposals submitted by Mr. President due to constraints.
Former Deputy President of the Senate, Ike Ekweremadu, drew attention to the ravaging problems of poverty and unemployment in the country, pointing out that the diligent execution of budgets would be helpful in resolving the challenges.“We must take oversight duties very seriously to ensure that the gains recorded in passing this budget timely are actualized.
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