{"id":2260,"date":"2017-05-11T20:16:13","date_gmt":"2017-05-11T20:16:13","guid":{"rendered":"https:\/\/everyday.ng\/?p=2260"},"modified":"2017-05-11T20:16:13","modified_gmt":"2017-05-11T20:16:13","slug":"nass-passes-n7441175486758-budget-await-presidential-assent","status":"publish","type":"post","link":"https:\/\/everyday.ng\/?p=2260","title":{"rendered":"NASS passes N7,441,175,486,758 budget; awaits presidential assent"},"content":{"rendered":"

By Mofoluwake Omololu, Abuja.
\nThe two Houses of the National Assembly has passed a \u00a0\u20a67,441,175,486,758 (Seven Trillion, Four Hundred and Forty-One Billion, One Hundred and Seven-Five Million, Four Hundred and Eighty-Six Thousand, Seven Hundred and Fifty-Eight Naira only) Budget, but it becomes law only if assented to by President Muhammadu Buhari.
\nThe budget is over N100 billion above the figures presented by President Muhammadu Buhari.
\nThe much villified Excess Crude Account staged a come-back; and as has been the practice before the preset administration, the Budget bill states: “The Accountant-General of the Federation shall immediately upon the coming into force of this Act maintain a separate record for the documentation of Revenue accruing to the Consolidated Revenue Fund in excess of oil price benchmark adopted in this Budget.
\n“Such revenues as specified in Subsection (1) of this section refers to Revenues accruing from sales of government crude oil in excess of $44.5 per barrel, the Petroleum Profit Tax and Royalty o
\nThe Accountant-General of the Federation is expected to forward to the National Assembly full details of funds released to government Agencies immediately such funds are released.
\nAlso, all Accounting Officers of Ministries, Parastatals and Departments of government who control heads of expenditures shall upon the coming into effect of this Act furnish the National Assembly on quarterly basis.
\nThe Constituency Projects, a source of disagreement between the Executive and Legislature, is to gulp N100 billion.
\nSenate President Bukola Saraki could not hide his delight at the passage of the budget.
\nSaid he: “Let me thank in particular the appropriations committee and all the sub committees and members of Appropriations Committee… This is the first time we had public hearing as part of the process for the 2017 appropriations act, the level of engagement and contributions of the civil society as played a part in making this budget a different and a remarkable one.
\n“Another first we achieved is seeing that the line by line details of the budget was laid down along with bill, again this is a great achievement on the part of us and I commend you all.
\n“Another first we have achieved is making the budget of the National Assembly available to the public which has been an issue for a long time. I am very proud for what we have been able to achieve and we do hope that this budget of recovery that we believe as reflected equity, it has ensured efficiency and adequate resources to all relevant sectors and will go a long way in helping Nigerians to come out of the economic recession and create growth.
\n“I want to appreciate the level of consultations and the good working relationship and cooperation that existed with us and the Executive for us to get to this point. This is a remarkable difference from what we saw in 2016 and it shows that the entire country is better for it.
\n“Lastly we commend all Nigerians, we appreciate their patience and understanding to this point and we believe that the budget we have done this time will bring value to all of us. We have been able to greatly move away from where we are in the past and we continue in our service to ensure that the Executive will see to the implementation of this budget. What we saw in 2016 is commendable on the part of the Executive on implementation and we hope that they will build on that.
\n“And as for preparing for 2018 it is clear that the minimum of 3 to 4 months is required in other to be able to do a good process and that is why we are appeal on the Executive to ensure that by end of September the latest we can get the 2018 budget so that we can keep to December or January passage.
\nOut of the \u20a67,441,175,486,758 budget, a total of \u20a6434,412,950,249 is for Statutory Transfers,
\nOne Trillion, Eight Hundred and Forty-One Billion, Three Hundred and Forty-Five Million, Seven Hundred and Twenty-Seven Thousand, Two Hundred and Six Naira is for Debt Service, \u20a6177,460,296,707 (One Hundred and Seventy-Seven Billion, Four Hundred and Sixty Million, Two Hundred and Ninety-Six Thousand, Seven Hundred and Seven Naira) only is for Sinking Fund for maturing bonds.
\n\u20a62,987,550,033,436 (Two Trillion, Nine \u00a0Hundred and \u00a0Eighty-Seven \u00a0Billion, Five Hundred and Fifty \u00a0Million, Thirty-Three Thousand, Four Hundred and Thirty-Six Naira) only, is for Recurrent (Non-Debt) \u00a0Expenditure while the \u00a0sum of \u00a0\u20a62,177,866,775,867 (Two Trillion, \u00a0One Hundred and Seventy-Seven Billion, Eight-Hundred and Sixty-Six Million, Seven Hundred and Seventy-Five Thousand, Eight Hundred and Sixty-Seven Naira) is for contribution to the Development Fund for Capital Expenditure (Exclusive of Capital Expenditure in \u00a0Statutory \u00a0Transfers)
\nThe breakdown is as follows:
\nStatutory Transfers \u00a0 \u00a0\u00a0<\/strong>
\nNational Judicial Council 100,000,000,000
\nNiger-Delta Development Commission 64,023,554,666
\nUniversal Basic Education 95,189,395,583
\nNational Assembly 125,000,000,000
\nPublic Complaints Commission 4,000,000,000
\nINEC 45,000,000,000
\nNational Human Right Commission1,200,000,000
\nTotal \u2014 Statutory Transfers 434,412,950,249
\nFor Domestic Debt servicing, N1,488,002,436,547 has been set aside, while\u00a0Foreign Debt servicing getd N175,882,993,952. In all N1,663,885,430,499 is for this purpose.
\nOther expenditures \u00a0are as follows:
\nRecurrent (Non-Debt) Expenditure
\nHead Ministry\/Department\/Agency (\u20a6)
\nExecutive<\/strong>:
\nAuditor General for the Federation2,693,253,521
\nMinistry of Budget and National Planning8,843,198,998
\nFederal Ministry of Agriculture and Rural Development31,752,144,051
\nMinistry of Defence330,543,309,223
\nFederal Ministry of Education398,686,819,418
\nFederal Ministry of Environment16,108,983,841
\nFederal Ministry of Finance9,521,555,393
\nMinistry of Foreign Affairs56,424,094,037
\nFederal Ministry of Health252,854,396,662
\nFederal Ministry of Industry, Trade and Investment10,797,165,779
\nFederal Ministry of Information and Culture40,821,093,321
\nFederal Ministry of Interior472,597,817,561
\nFederal Ministry of Justice21,038,344,711
\nFederal Ministry of Labour and Employment8,626,186,611
\nFederal Ministry of Mines and Steel Development10,385,055,182
\nFederal Ministry of Niger Delta1,764,382,365
\nFederal Ministry of Petroleum Resources63,222,101,051
\nFederal Ministry of Science and Technology27,785,074,208
\nFederal Ministry of Transportation14,810,103,581
\nFederal Ministry of Water Resources7,301,176,944
\nFederal Ministry of Women Affairs1,466,534,201
\nFederal Ministry of Power, Works and Housing32,821,929,055
\nFederal Ministry of Youth and Sports Development89,316,015,167
\nFiscal Responsibility Commission332,848,038
\nIndependent Corrupt Practices and Related Offences Commission (ICPC)5,159,640,131
\nInfrastructure Concessionary and Regulatory Commission (ICRC)884,624,464
\nFederal Ministry of Communications Technology11,192,782,734
\nNational Salaries, Income and Wages Commission631,503,868
\nOffice of the National Security Adviser76,281,025,653
\nOffice of the Head of the Civil Service of the Federation6,652,280,969
\nState House22,947,666,215
\nSecretary to the Government of the Federation (SGF)51,933,366,906
\nSub-Total: Executive<\/strong>\u00a0N2,086,196,473,860
\nFederal Executive Bodies:<\/strong>
\nCode of Conduct Bureau2,337,582,923
\nCode of Conduct Tribunal573,778,581
\nFederal Character Commission2,158,721,471
\nFederal Civil Service Commission943,761,945
\nNational Population Commission5,563,110,903
\nPolice Service Commission705,772,631
\nRevenue Mobilization, Allocation and Fiscal Commission2,061,930,637
\nSub-Total: Federal Executive Bodies<\/strong>\u00a0N14,344,659,090
\nService-Wide Votes and Pensions<\/strong>
\nExpenditure Items
\nPensions and Gratuities
\nTotal Allocation:191,631,846,958
\nOffice of the Head of the Civil Service (Civilian Pension)33,290,715,716
\nPensions28,391,013,524
\nGratuities2,300,000,000
\nBenefits of Retired Heads of the Civil Service of the Federation and Federal2,599,702,192
\nMilitary Pensions and Gratuities (DMP)71,156,115,576
\nPensions65,619,472,577
\n2017 Expected Retirees3,170,929,878
\nDeath Benefits2,115,713,121
\nPension Running Costs150,000,000
\n2017 Verification Costs50,000,000
\nAdministrative Costs50,000,000
\nPolice Pensions and Gratuities7,412,463,652
\nPensions7,412,463,652
\nCustoms, Immigration and Prisons Pension Office8,420,000,000
\nPensions8,420,000,000
\nUniversities’ Pensions Including Arrears14,343,326,479
\nPensions14,343,326,479
\nParastatals Pensions
\nPensions26,756,754,031
\nPre-1996 Nigeria Railway Corporation Pension2,257,298,262
\nPensions2,257,298,262
\nDepartment of State Security7,643,405,446
\nPensions (Including Arrears)7,643,405,446
\nNigeria Intelligence Agency3,709,146,567
\nPensions\/dependants Benefits3,709,146,567
\nNELMCO16,642,621,229
\nNELMCO Pension\/Arrears16,642,621,229
\nService Wide Votes
\nTotal Allocation:228,677,053,528
\nService-wide Votes Pensions89,977,053,528
\nArrears of 33% Increase in Pension Rate \u2014 Military14,481,244,610
\nArrears of Pension Liabilities3,000,000,000
\nPayment of Outstanding Death Benefit to Civil Servants\/Police5,000,000,000
\nPayment into the Redemption Fund (5% of Total Personnel Cost)
\nincluding Arrears of 2014 and 2015 50,195,808,918
\nGroup Life Insurance for all MDAs Including DSS\/Insurance of
\nSensitive Assets\/Corpers plus Administration and Monitoring 15,000,000,000
\nEntitlements of Former Presidents\/Heads of State and Vice-Presidents\/Chiefs of General Staff 2,300,000,000
\nOther Service-Wide Votes138,700,000,000
\nPublic Service Wage Adjustment for MDAs (Including Arrears of
\nPromotion and Salary Increases) and Payment of Severance Benefits 30,200,000,000
\nMilitary Operations : Lafiya Dole and Other Operations of the Armed Forces25,000,000,000
\nContribution to International Organisations\/external Financial Obligations10,000,000,000
\nMargin for Increases in Costs and Recurrent Adjustment Costs5,000,000,000
\nContingency (Recurrent)15,000,000,000
\nEmployees Compensation Act \u2014 Employees’ Compensation Fund4,000,000,000
\nPayment for Outsourced Services1,500,000,000
\nService Wide Training of Budget\/Planning Officers on GIFMIS Budget\u00a0Preparation System (BPs) as well as Monitoring and Evaluation ofall Projects Nationwide 2,000,000,000
\nTSA Operations4,000,000,000
\nIPPIS Capturing2,000,000,000
\nSettlement of MDAs Electricity Bills40,000,000,000
\nRefunds to Special Accounts40,000,000,000
\nSpecial Intervention (Recurrent)350,000,000,000
\nPresidential Amnesty Programme: Stipends, Operations and Reintegration76,700,000,000
\nTotal CRF Charges887,008,900,486
\nTotal Recurrent (Non-Debt)2,987,550,033,436
\nCapital Expenditure
\nHead Ministry\/Department\/Agency (\u20a6)
\nExecutive:
\nAuditor General for the Federation90,509,818
\nMinistry of Budget and National Planning4,092,773,627
\nFederal Ministry of Agriculture and Rural Development103,793,201,010
\nMinistry of Defence139,294,920,350
\nFederal Ministry of Education56,720,969,147
\nFederal Ministry of Environment12,479,369,455
\nFederal Ministry of Finance5,181,348,624
\nMinistry of Foreign Affairs10,291,783,534
\nFederal Ministry of Industry, Trade and Investment81,726,971,059
\nFederal Ministry of Information and Culture9,546,245,041
\nFederal Ministry of Interior63,760,562,487
\nFederal Ministry of Justice12,705,755,001
\nFederal Ministry of Labour and Employment8,803,520,400
\nFederal Ministry of Mines and Steel Development12,455,000,000
\nFederal Capital Territory Administration30,397,122,872
\nFederal Ministry of Niger Delta34,201,500,001
\nFederal Ministry of Petroleum Resources6,793,128,647
\nFederal Ministry of Science and Technology41,699,655,490
\nFederal Ministry of Transportation241,709,000,000
\nFederal Ministry of Water Resources104,245,803,117
\nFederal \u00a0Ministry of Women Affairs4,250,732,000
\nFederal Ministry of Power, Works and Housing553,713,857,113
\nFederal Ministry of Youth and Sports Development5,441,000,000
\nFiscal Responsibility Commission148,155,391
\nIndependent Corrupt Practices and Related Offences Commission (ICPC)767,865,170
\nInfrastructure Concessionary and Regulatory Commission \u00a0(ICRC)34,310,245
\nFederal Ministry of Communications Technology8,434,669,142
\nNational Salaries, Income and Wages Commission163,121,916
\nOffice of the National Security Adviser47,209,203,765
\nOffice of the Head of the Civil Service of the Federation1,974,176,735
\nState House20,066,000,000
\nSecretary to the Government of the Federation (SGF)32,778,490,342
\nSub-Total: Executive1,710,580,601,619
\nFederal Executive Bodies:
\nCode of Conduct Bureau1,394,854,364
\nCode of Conduct Tribunal513,616,705
\n 
\nFederal Character Commission400,000,000
\n 
\nFederal Civil Service Commission16,171,828
\n 
\nNational Population Commission3,936,308,554
\n 
\nPolice Service Commission758,900,000
\n 
\nRevenue Mobilization, Allocation and Fiscal Commission229,093,337
\n 
\nSub-Total: Federal Executive Bodies 7,248,944,788
\nTotal: Executive and Federal Executive Bodies1,717,829,546,407
\nCapital Supplementation:
\n 
\nTotal Allocation:310,037,229,460
\n 
\nGIFMIS\/IPPIS Capital5,000,000,000
\n 
\nOSSAP- SDGs (Special Projects)9,000,000,000
\n 
\nOSSAP-SDGs (Conditional Grants)10,000,000,000
\n 
\nOSSAP-SDGs (Social Safety Nets)15,902,000,000
\n 
\nCapital Exigencies\/Adjustment to Capital Cost5,000,000,000
\n 
\nNational Development Plans (Ministry of Budget and National Planning)1,000,000,000
\nHead of Service (Federal Government Staff Housing Loans Board) \u00a0 \u00a01,000,000,000
\nZonal Intervention Projects100,000,000,000
\nNorth-East Intervention Fund45,000,000,000
\nCounterpart Funding Including Global Fund\/Health3,500,000,000
\nPayment of Local Contractors’ Debts\/Other Liabilities20,000,000,000
\nGalaxy Backbone4,000,000,000
\nContingency (Capital)10,000,000,000
\nRecapitalisation of Development Finance Institutions15,000,000,000
\nSubscriptions to Shares in International Organisations28,635,229,460
\nSDG: Special Intervention Project 112,000,000,000
\nSDG: Special Intervention Project 28,000,000,000
\nFacilities and Technical Services14,500,000,000
\nImplementation of the Economic Recovery and Growth Plan (ERGP) and Establishment of Delivery Unit at the Presidency 2,500,000,000
\nTotal \u2014 Capital Supplementation310,037,229,460
\nCapital in FGN Special Intervention Programme150,000,000,000
\nTotal Capital Expenditure2,177,866,775,867
\nAggregate Expenditure7,441,175,486,758
\n 
\n 
\n <\/p>\n","protected":false},"excerpt":{"rendered":"

By Mofoluwake Omololu, Abuja. The two Houses of the National Assembly has passed a \u00a0\u20a67,441,175,486,758 (Seven Trillion, Four Hundred and Forty-One Billion, One Hundred and Seven-Five Million, Four Hundred and Eighty-Six Thousand, Seven Hundred and Fifty-Eight Naira only) Budget, but it becomes law only if assented to by President Muhammadu Buhari. The budget is over […]<\/p>\n","protected":false},"author":7,"featured_media":1993,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2260","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"_links":{"self":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/posts\/2260","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2260"}],"version-history":[{"count":0,"href":"https:\/\/everyday.ng\/index.php?rest_route=\/wp\/v2\/posts\/2260\/revisions"}],"wp:attachment":[{"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/everyday.ng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}