About four months after the executive laid the 2014 budget before the National Assembly, the Senate Wednesday passed the Appropriation Bill into law.
Whereas the executive proposed the sum of N4.642 trillion as total expenditure for the 2014 fiscal year, the upper chamber jacked up the figure by N53 billion, thus bringing the total sum passed to N4.695 trillion.
Of the total budget figure, N2.454 trillion was approved as recurrent expenditure while the sum of N1.119 trillion was approved as capital expenditure.
Besides, while N408.6 billion of the budget is meant for statutory transfers, another N712 billion is for debt service.
