Breaking: House of Reps passes 2017 budget of N7. 44 trillion

THE National Assembly has made open its budget for 2017, with a total sum of N125, 000,000,000 to be spent this year. With the figure, there is an increase of N10,000,000,000 as against the N115,000,000,000 approved for National Assembly in 2016. The breakdown shows that of the N125 billion approved for the National Assembly, the Management has a vote of N14,919,065,013; the Senate has an allocation of N31,398,765,886 while the House of Representatives would spend N49,052,743,983. The breakdown further shows that the Management would spend N6,714,696,986as personnel cost so; N6,192,052,825 for Overhead costs and N2,011,315,202as total capital. The Senate would spend N1,856,510,517 on personnel costs; N25,111,332,147 as total Overhead costs and N4,430,923,222 as total capital . For the House of Representatives, it has N4,923,743,127 as total personnel costs; N39,635,756,179 as total overhead costs and N4,493,244,677 as total capital. Meanwhile, the total Budget for 2017 stands at N7.441 trillion

Read more at: http://www.vanguardngr.com/2017/05/breaking-house-of-reps-passes-2017-budget/

 

source: Vanguard

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