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Acting President Osinbajo Signs #Budget2017

Acting President Yemi Osinbajo has signed the 2017 Appropriation Bill into law.


Osinbajo made the announcement via Twitter on Monday.


Acting President Yemi Osinbajo signing the 2017 Appropriation Act into law at the Presidential Villa in Abuja on Monday (12/6/17). With him from left are: Senate President Bukola Saraki; Speaker, House of Representatives, Yakubu Dogara; Senior Special Assistant to the President on National Assembly Matters (Senate), Sen. Ita Enang; Senior Special Assistant to the President on National Assembly Matters (House of Representatives), Suleiman Kawu; Minister of Budget and National Planning, Sen. Udoma Udo Udoma; Chief of Staff, Alhaji Abba Kyari; and Minister of Finance, Mrs Kemi Adeosun.
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The event was attended by leaders of the National Assembly, Senate President Bukola Saraki, House Speaker Yakubu Dogara, as well as members of the Federal Executive Council.

The National Assembly on May 11, passed the 2017 Appropriation Bill, raising the figure from N7.30 trillion presented by President Muhammadu Buhari on December 14, 2016, to N7.44 trillion.

In the approval, Statutory Transfers got N434 billion, N1.8 trillion for Debt Servicing, N177.5 billion for Sinking Fund for Maturity Bonds and N2.99 trillion for Recurrent Non-Debt Expenditure.

Contribution to the Development Fund for Capital Expenditure, exclusive of the capital expenditure in statutory transfers for the year ending December 31, 2017, got N2.2 trillion.

The chamber pegged crude oil production for the budget at 2.2 million barrels per day, with foreign exchange rate of N305 to a dollar.



This post first appeared on Blog Mall Nigeria, please read the originial post: here

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Acting President Osinbajo Signs #Budget2017

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