2018 APPROPRIATION BILL OF OVER ₦8 TRILLION PRESENTED TO THE NATIONAL ASSEMBLY

President Muhammadu Buhari has presented 2018 Appropriation bill of eight point six one two trillion naira to the joint session of the National Assembly.

President Buhari said that progress made in the area of security must be sustained while provision had been made in the present budget to speed up the clean up of Ogoni land.

The president expressed optimism that the 2018 budget would be better than the previous years.

According to the President, out of the eight point six one two trillion naira, three point four nine four trillion naira was proposed for recurrent expenditure and two point four two eight trillion naira for capital expenditure excluding the capital component of statutory transfers.

The Buhari administration plans to use two point zero one four trillion naira for debt service, forty six billion naira for statutory transfers and two hundred and twenty billion naira as sinking fund to retire maturing bonds and pay local contractors.

MONITORED/ ESTHER OGBU