The Nigerian National Assembly has increased the amount of the 2018 budget to N9.120 trillion from N8.612 trillion.
The breakdown of the budget which was laid before both the Senate and House of Representatives, shows that the sum of N530,421,368,624 is for statutory transfer while N2,203,835,365,699 is for debt service.
The sum of N199 billion is for sinking fund for maturing loans; N3,516,477,902,077 is for recurrent (non debt) expenditure while N2,869,600,351,825 is for development fund capital expenditure.
The Chairman of the committee, Sen. Danjuma Goje, laid the report before the Senate in plenary, six months after it was presented by President Muhammadu Buhari.
The Senate and House of Representatives had promised to pass the budget on April 24, but failed to do so.
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