Check Out the Breakdown of 2016 National Budget Passed by the Senate

Posted by George on Wed 23rd Mar, 2016 - tori.ng

The Nigerian senate of the 8th National Assembly has passed the controversial 2016 appropriation bill that was presented by President Muhammadu Buhari as far back as December 22, 2016.

President Muhammadu Buhari making the presentation

The Nigerian senate today, passed the 2016 budget presented by President Muhammadu Buhari over three months ago.

See the breakdown of the budget below:

(1) Statutory transfers: 351,370,000,000

(2) Debt service: 1,475,320,000,00

(3) Recurrent expenditure: 2,646,389,236,196

(4) Capital expenditure: 1,587,598,122,031

(5) Fiscal deficit: 2,204,936,925,711.16

(7) Deficit/GDP: 2.14%