May 15, 2018
The House of Representatives has received the report of the 2018 Appropriations Bill.
Laying the Report of the Committee on Appropriations at the plenary session on Tuesday, 15th May, 2018, Hon. Bala Dawaki, (APC:Kano) Chairman, Committee on Appropriations stated that the Bill sought to authorize the sum of N9, 120,334,988,225 (Nine Trillion, One Hundred and Twenty Billion, Three Hundred and Thirty-Four Million, Nine Hundred and Eighty-Eight Thousand, Two Hundred and Twenty-Five Naira) for the year ending 31st December, 2018 from the Consolidated Revenue Fund of the Federation.
He also gave a breakdown of the total sum (which is an additional N508,098,035,011 billion more than what President Buhari laid before the Joint session at the National Assembly) on Tuesday 7, November 2017 as follows:
Statutory Transfers- N 530,421,368,624 (Five Hundred and Thirty Billion, Four Hundred and Twenty-One Million, Three Hundred and Sixty-Eight Thousand, Six Hundred and Twenty-Four Naira) only
Debt Service – the sum of N2, 203,835,365,699 (Two Trillion, Two Hundred and Three Billion, Eight Hundred and Thirty-Five Million, Three Hundred and Sixty-Five Thousand, Six Hundred and Ninety -Nine Naira) only is for Debt Service
Recurrent (Non-Debt) Expenditure- sum of N3, 516,477,902,077 (Three Trillion, Five Hundred and Sixteen Billion, Four Hundred and Seventy-Seven Million, Nine Hundred and Two Thousand, Seventy Seven Naira) only is for Recurrent (Non-Debt) Expenditure
He stated that the sum of N2, 869,600,351,825 (Two Trillion, Eight Hundred and Sixty-Nine Billion, Six Hundred Million, Three Hundred and Fifty-One Thousand, Eight Hundred and Twenty-Five Naira) only would be the Contribution to the Development Fund for Capital Expenditure (Exclusive of Capital Expenditure in Statutory Transfers) for the year ending on the 31st December 2018.
The House is scheduled to consider the provisions of the Appropriations Bill as recommended by the Committee in more detail at its plenary on Wednesday 16th May before final passage this week.