BREAKING: Buhari Signs 2019 Appropriation Bill Into Law - Breaking News in Nigeria today 247 | TheWatchNGR

Breaking

Place your Top Header Advertisement
top post ads
PLACE YOUR Leaderboard 728 BY 90

Monday, May 27, 2019

BREAKING: Buhari Signs 2019 Appropriation Bill Into Law

Buhari







President Muhammadu Buhari has signed the 2019 appropriation bill into law.



This signals the beginning of the implementation of the 2019 fiscal calendar.



The president had earlier proposed a budget of N8.83 trillion to the National Assembly on December 18, 2018, but the passage was delayed due to events such as the Christmas and New Year breaks as well as the general election.



However, after undergoing legislative scrutiny, the lawmakers passed the budget of N8.91 trillion, raising it by over N90.3billion on April 30.



Highlights of the 2019 budget as approved by the National Assembly include the capital expenditure of N2.09trillion, recurrent expenditure of N4.05trillion, statutory transfers of N502billion, fiscal deficit of N1.9trillion, and special intervention of N500billion.



The lawmakers also approved debt service of N2.25trillion out of the figure, N1.7trillion was approved for domestic debts, while the sum of N433billion was provided for foreign debts.



More to follow…
Place Your MidPost Ads Code (PC) Here

Place Your Post Footer Ads COde Here

No comments:

Post a Comment

DISCLAIMER


Opinions expressed in comments by readers, do not reflect the views of THEWATCHNGR and the THEWATCH NEWS Media or any employee thereof.

botom post ads space

Search Here