Friday, 24 April 2015

INSIDE DETAILS OF 2015 BUDGET ALLOCATIONS. IT'S ZERO ALLOCATION FOR FUEL SUBSIDY AS EDUCATION GETS N68.380B, NATIONAL ASSEMBLY-N120B, DEBT SERVICING-N953B

The House of Representatives yesterday cut off funding for fuel subsidy in the N4.493 trillion budget for the year 2015 it passed yesterday.

In the proposal approved by the House, outgoing President Jonathan and other former presidents and vice-presidents are to be maintained with N2.3 billion while N11.755 billion is for improved remuneration package for Nigerian police. Meanwhile, the final figure passed was N135.4 billion higher than the N4,357,960,000,000 proposed by President Goodluck Jonathan when he presented the budget proposal to the National Assembly through the Minister of Finance, Dr. Ngozi Okonjo-Iweala in November 2014.

Breakdown of the final amount passed showed that N375.616 billion is for statutory transfer

Debt service - N953.620 billion
Recurrent (non-debt) Expenditure - N2,607,132,491,708
Capital Expenditure - N556,995,465,449
Niger Delta Development Commission -  N46.720 billion
Universal Basic Education - N68.380 billion
National Assembly - N120 billion
Public Complaint Commission - N4 billion
National Human Right Commission - N1.516 billion.
National Judicial Council - N73 billion
Independent National Electoral Commission - N62 billion
Interior - N153,330,022,460
Youth Development - N69,423,427,479
Office of the National Security Adviser - N62,226,771,999
Petroleum Resources - N58,274,429,975
Secretary to the Government of the Federation - N48,389,942,264
Foreign Affairs - N41,649,382,166
Agriculture and Rural Development - N31,869,020,717
Science and Technology - N26,590,103,366
Works - N25,173,916,543
Information - N23,682,420,241
Presidency - N20,085,865,120
Tourism, Culture and National Orientation - N18,081,478,935
Environment - N15,559,334,341
Trade and Investment - N10,941,859,480
Communication Technology - N10,592,048,381
National Population Commission - N5,293,800,054
Code of Conduct Bureau - N1,935,767,344
Code of Conduct Tribunal - N493,656,088
Revenue Mobilisation Allocation and Fiscal Commission - N2,207,213,456
Federal Civil Service Commission - N1,125,005,114
Police Service Commission - N740,477,185
Federal Character Commission - N2,167,931,068

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