Senate Passes 2016 Budget

Three months into 2016, the 2016 federal budget has been passed by the Senate.The lawmakers approved a total of N6.060trn made up of N1.587trn capital expenditure of the budget and the recurrent expenditure of N2.646.3trn. 

The sum of N351.37bn was approved for statutory transfers, N1.475.3trn for Debt Service, and N2.2trn for Fiscal deficit.The budget was passed yesterday 23rd March 2016,Wednesday.