President Goodluck Jonathan on Thursday presented the budget estimate of N4.6 trillion for the 2014 fiscal year to the National Assembly against the N4.7 trillion that was budgeted last year.
According to the budget estimate, the Federal Government is to spend N1.1 trillion for capital expenditure, while N3.7 trillion is expected to come from the Internally Generated Revenue, IGR.
President Jonathan who was represented by the Minister of Finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala did not give details of the budget and the amount for the recurrent expenditure as he only laid the well packed budget proposal on the floor of the Senate.
Speaking to Journalists after laying the budget estimate, the Coordinating Minister and Minister of Finance, Dr. Okonjo-Iweala said the aggregate expenditure of N4.6 trillion excluded the Subsidy Reinvestment Expenditure Programme- SURE-P. Click to signup for FREE news updates, latest information and hottest gists everyday
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