Senate approves N4.9trn in 2013 budget amendment

THE drama which had trailed the 2013 budget, following sharp disagreement between the Presidency and the National Assembly, was laid to rest Thursday, as the Senate, in a u-turn, approved a total of N4,987,220,425,601 in the amendment requested by President Jonathan.

The amount captured in the amendment is almost the same with the earlier figure approved by the lawmakers in the original budget.

The total budget passed by the Senate was 4.987 trillion, out of which N388 billion was for statutory transfers, N591 billion for debt service, N2.415 trillion for recurrent (non-debt) expenditure, while the balance of N1.591 trillion was earmarked for contribution to the development fund for capital expenditure for the year ending on the 31 December, 2013.

[Vanguard]

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