NIGERIA: JUST IN! House of Reps Passes 2017 Budget

The House of Representatives has passed the 2017 budget to the presidency for assent.

The appropriation bill report was passed at plenary on Thursday. N434.4 billion was allocated for statutory transfer, N1.84 trillion for debt servicing and N177.46 billion for maturing bonds.
The budget process was largely delayed owing to the failure of committees to turn in their report to the appropriation committee after ministries, departments and agencies (MDAs) defended their budgets.
President Muhammadu Buhari presented an estimate of N7.30 trillion to a joint session of the national assembly on December 14.
But when the national assembly jerked up the budget report by N143 billion.

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