Report from Office of the President’s Adviser on National Assembly Matters.
The Appropriation bill has passed second reading at the Senate after an exhaustive executive session. The appropriation bill is a bill for an act to authorize the issue from consolidated revenue fund of the Federation the total sum of N4,357,960,000.00 ( Four Trillion, Three Hundred and Fifty Seven Billion, Eight Hundred and Forty Million Naira) only.
Of this amount, the sum of N411,840,000,000 ( Four Hundred and Eleven Billion, Eight Hundred and Forty Million Naira) only is set aside for statutory transfers while N943, 000,000,000 (Nine Hundred and Forty Three Billion Naira) is for debt servicing and N2,616,007,426,233 (Two Trillion, Six Hundred and Sixteen Billion, Seven Million, Four Hundred and Twenty Six Thousand, Two Hundred and Thirty Three Naira) for recurrent, non debt expenditure.
The balance of N387, 112,573,767 ( Three Hundred and Eighty Seven Billion, One Hundred and Twelve Million, Five Hundred and Seventy Three Thousand, Seven Hundred and Sixty Seven Naira ) only is for contribution to the development fund for capital expenditure for the year ending 31st of December, 2015
The senate subsequently adjourned plenary till 17th February, 2015.
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