• Contact Us
  • About Us
Tuesday, July 14, 2026
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
ADVERTISEMENT
Home Economy

Update: National Assembly passes 2017 budget

metro by metro
May 11, 2017
in Economy
0
0
SHARES
0
VIEWS

The National Assembly has passed the 2017 Appropriations Bill, raising the budget from N7.28 billion earlier proposed by President Muhammadu Buhari in December last year, to N7.44 trillion.

The Appropriations Committees of the Senate and the House of Representatives separately presented their harmonised reports of the budget for consideration and subsequent passage on Thursday.

Read Also

Nigeria Ranks 55th Globally, Leads Africa In IMD Economic Performance, Slips In Overall Global Competitiveness

World Bank Approves $27m Performance-Based Grants For 20 Nigerian States

Ekpo Blames Economic Managers For Nigeria’s Inability To Achieve Sustained Economic Growth

According to the report, N434.4 billion was appropriated for statutory transfers to the National Judicial Council (N100 billion); Niger Delta Development Commission (N64.02 billion); Universal Basic Education (N95.2 billion); National Assembly (N125 billion); Public Complaints Commission (N4 billion); INEC (N45 billion); and National Human Rights Commission (N1.2 billion).

The seven establishments are to get allocations on first line charge. In practice, the spending details of these offices are not made public.

But the spokesperson for the Senate, Aliyu Abdullahi, told Journalists details of the National Assembly budget are included in the whole national budget, ending eight years of secrecy.

“We have opened our budget,” he said. “Details are in the (whole) budget, that’s what I have come to tell you.”

A spokesperson for Senate President Bukola Saraki, Sani Onogu, told PREMIUM TIMES that “line by line details of the NASS budget were in the appropriations bill.

“This one (the breakdown) is just an advanced copy. The public will see everything line by line regarding NASS budget. That is historic,” he said.

Speaking in the plenary, Dino Melaye said: “For the first, the budget contains full details of the National Assembly, not only line by line, but explicitly. I was happy when I saw NASS budget details in the document distributed to us this morning. This will afford civil society groups and every Nigerian to ask questions.”

This newspaper had on Tuesday broken the news that the joint leadership of the Senate and the House of Representatives had decided to open up the NASS budget at a late Monday meeting held at the Abuja residence of Senate President Bukola Saraki.

The National Assembly raised its budget by N10 billion, to N125/billion.

In the breakdown of the National Assembly budget released by Mr. Abdullahi, the Management, Senate the House of Representatives are to receive N14,919,065013, 31,398,765,886 and 49,052,743,983.

Other appropriations under the National Assembly are as follows: legislative aides, 9,602,095,928; NASS Service Commission, 2,415,712,873; PAC-Senate, N118,970,215; N142,764,258; General Services, N12,584,672,079; NASS Legislative Institute, 4,373,813,596; and Service Wide Vote, 391,396,169.

The National Assembly also appropriated N2,987,550,033,436 for non-debt recurrent expenditure of the MDAs that are not under statutory transfers club.

Capital expenditure is slightly less, taking N2,177,866,775867.

For debt service, the National Assembly earmarked N1,488,002,436,547 to service domestic debts; N175,882,993,952 for foreign debts; and 177,460,296707 for sinking fund to retire maturing loans, totalling 1,841,345,727,206 for debt service.

The Clause 11 of the bill, referenced in the harmonized report, provides that the budget will run for a course of 12 months starting from the date is assented into law, in line with Section of the Constitution.

In his remark, Minority Leader, Godswill Akpabio, reckoned that the 2017 budget marked the first time capital expenditure would reach 30 per cent.

Previous Post

Comey’s Firing Is a Crisis of American Rule of Law-Bloomberg

Next Post

Governor Amosun cheats death

Related Posts

Elumelu Meets Tinubu In Aso Villa, Says President’s Policies For Nigerians’ Interests
Economy

Nigeria Ranks 55th Globally, Leads Africa In IMD Economic Performance, Slips In Overall Global Competitiveness

July 1, 2026
Economy

World Bank Approves $27m Performance-Based Grants For 20 Nigerian States

July 1, 2026
Households Earning Less Than N250,000 Or Less Monthly Won’t Pay Tax-Oyedele
Economy

Ekpo Blames Economic Managers For Nigeria’s Inability To Achieve Sustained Economic Growth

July 1, 2026
IMF
Economy

Concerns As IMF Official Says Nigeria’s Unreported Spending Equals 2% Of GDP

July 1, 2026
Next Post

Governor Amosun cheats death

Solbakken Questions FIFA Ball Sensor After England’s Equaliser In Quarter-final Win Over Norway

Solbakken Questions FIFA Ball Sensor After England’s Equaliser In Quarter-final Win Over Norway

July 14, 2026
US Excludes Nigeria, 17 Other Countries From 2025 Visa Lottery Scheme

Trump Sends Congress Formal Notice Of Iran’s Conflict Resumption

July 14, 2026
‘Whole Civilization Will Die Tonight’ Trump Threatens As Iran Defies President’s Looming Deadline

U.S. Military Renews Strikes On Iran Amid Attacks On Tankers In Strait of Hormuz

July 14, 2026
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Go to mobile version