President Buhari has formally presented a N7.28 trillion federal government budget for 2017 to the joint session of the National Assembly for approval today (14th Dec). President Buhari said the budget was higher than the N6.07 trillion 2016 Appropriation by about 19.95 per cent and said the 2017 budget is “Budget of Recovery & Growth”.
The 2017 proposed capital and recurrent expenditures were higher than the N1.8 trillion and N2.65 trillion respectively provided in the 2016 Appropriation, representing about 15.44 and 9.43 per cent respectively.
About N1.66 trillion has been allocated for servicing of domestic debts, for which N1.3 trillion earmarked in the 2016 budget, with foreign debt expected to take about N175.9 billion as against N54.5 billion last year.
