President Muhammadu Buhari will
sign the 2018 budget into law next week, Femi Adesina, his spokesman, has said.
Adesina disclosed this to state
house correspondents on Wednesday after the federal executive council (FEC)
meeting in Abuja.
He, however, did not specify the
date.
“The budget will be signed next
week,” he told journalists, adding: “We will give you the specific date when it
is confirmed.”
Wednesday makes it one month the
national assembly passed the N9.1 trillion appropriation bill.
Buhari had proposed N8.6 trillion
but the lawmakers raised the budget by N500 billion. They also increased oil
benchmark from $45 to $51 per barrel.
Other highlights of the budget
are:
N530,421,368,624 for statutory
transfer;
N2,203,835,365,699 for debt
service;
N3,512,677,902,077 for recurrent
expenditure,
N2,873,400,351,825 for capital
expenditure,
Fiscal deficit of
N1,954,464,993,775
1.73 percent deficit to GDP.
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