Senate Passes N4.6Trillion 2014 Budget

The Senate today, Wednesday, 9 th of April, 2014 passed N4.69 trillion as budget for the 2014 fiscal year, nearly
four months after it was presented by Ngozi Okonjo-
Iweala, on behalf of the President. The executive had
proposed N4.642 trillion, but the amount was jerked up
with an additional N53 billion, by the upper chamber.

27% of the budget sum, which is N1.1 trillion is for
capital expenditure, while the remaining 73% goes to
running the government – N2.454 trillion for recurrent
expenditure, N408.6 billion for statutory transfers, and
another N712 billion is for debt service.