President Jonathan Signs N4.425 Trillion 2015 Budget Into Law

 

President, Goodluck Jonathan has signed the 2015 Appropriation Bill into law.

According to PUNCHNG, Jonathan decided to sign the budget into law a couple of days back without fanfare.

There have been concerns among Nigerians on whether Jonathan will sign the budget before May 29 when he will formally hand over to Muhammadu Buhari or he will leave it behind for the incoming administration which is believed may still prepare a supplementary budget.

But a Presidency source told our correspondent that the President signed the budget about two weeks ago immediately after the document passed by the National Assembly was transmitted to him.

The Senate had passed the 2015 budget on April 28, following the passage of the same bill by the House of Representatives on April 23, with an expenditure outlay of ₦4.493tn, up from the ₦4.425tn proposed by the Executive.

When contacted, the Special Adviser to the President on Media and Publicity, Dr. Reuben Abati, also confirmed that Jonathan had signed the budget.

Although he also did not give any reason why the signing was not made public, Abati said the President signed the document “some weeks back.”

The Senate, in passing the budget, slightly reduced the ₦2.607,601, 000,300 proposed by the Executive to ₦2.607,132,491,708 as recurrent expenditure and simultaneously scaled down the capital expenditure from ₦642,848,999,699 estimated in the proposal to ₦556,995,465,449.

Education takes the lion’s share of the budget with ₦392.3bn; followed by the military which gets ₦338.7bn while police commands and formations will receive ₦303.8bn.

In the same vein, ₦237bn was voted for the health sector; ₦153bn for the Ministry of Interior while ₦25.1bn was budgeted for the Ministry of Works.