Reps approve N4.695trn 2014 budget [see details]

…education tops with N373.5bn

The House of Representatives yesterday passed with dispatch, the sum of N4.695trn to be expended by the executive and other arms of government in 2014.

Of the sum, N408,687,801,891 is for statutory transfers; N712bn (debt service), N2,454,887,566,702 (recurrent), while N1,119,614,407 is for contribution to the development fund for capital expenditure.

Under the recurrent expenditure component for various Ministries, Departments and Agencies, MDAs, Education got the highest sum of N373,532,095; Defence/ MOD/Army/Air Force/ Navy (N314,347,339,871); Police Formations/Commands (N295,561,812,085), Health (N214,946,652,273), Interior (N145,021,228,363), Youth Development (N75,957,608,331), Office of the National Security Adviser (N66,625,072,907), while Petroleum Resources got N55,706,174,457.

Under the Service Wide votes and Pensions component, N30bn is for General Election Logistics support; N24bn (Contingency); N30,582,553,824 (Payment of Outstanding Death Benefits to Civil Servants (5 per cent of total personnel cost); and N11bn for Group Life Insurance for all MDAs.

Under the capital expenditure components, Works top the list with N106,321,293,055; Power was allocated N59,814,290,389, Office of NSA (N51.1bn), Education (N50,781,035,231), Health (N49,535,699,601), Niger Delta (N49,403,704,194); Water Resources (N44,206,343,742); Agriculture and Rural Development (N35,551,172,583); Transport (N31,808,108,913), while Defence/MOD/ Army/Air Force/Navy got N35.36 bn. Subsidy Reinvestment and Empowerment Programme, SURE-P; allocated N268.37 bn and N1 bn for 2011 election violence and civil disturbances (damages done to properties and places of worship).

The debt service and statutory components of the budget showed that the sum of N663.61 bn is for domestic debts; N48.39bn (foreign debts); N150 bn, National Assembly; N73 bn, National Judicial Council, NJC; N70.47 bn, for Universal Basic Education, UBE; N49.030 bn, Niger Delta Development Commission, NDDC and additional sum of N12.910 bn for arrears of fourth quarter; N45 billion is for Independent National Electoral Commission, INEC; N6.927 bn for Public Complaints Commission, while N1.35bn is for National Human Rights Commission, NHRC.

The House, through its spokesman, Hon. Zakari Muhammed (PDP-Kwara), did not, however, give the details of the budget.

He said the House decided to tow the line of the Senate by passing a figure to tally with theirs so as to accelerate the performance of the money legislation as soon as possible.

pls kindly comment and share.....