BUDGETS: FG, 34 States To Spend N10.67trn

Barring adjustments by the legislature and supplementary appropriations, Federal Government and 34 of the 36 states of the federation will spend at least N10.67 trillion this year.

In other words, they will be spending at least N889.231 billion a month or N29.235 billion a day.

The hefty sum is the summation of budget proposals of the two tiers of government for 2014.

Rivers State, Jigawa State and the Federal Capital Territory, FCT, Abuja, are yet to release their 2014 budget proposals.

The crisis in Rivers State House of Assembly may have taken its toll on the presentation of the state’s 2014 budget.

There are indications that the National Assembly may ask Governor Rotimi Amaechi to bring his budget proposal.

President Goodluck Jonathan is expected to present the FCT budget to the National Assembly

Of the N10.67 trillion proposals, only N4.48 trillion or 42.26 per cent is allocated to capital expenditure (infrastructure, amenities, among others), while N6.123 trillion or 57.74 per cent is to be spent on recurrent expenditure (salaries, emoluments of public servants and political office holders, running costs, among others).

In 2013, the federal and state governments spent N11.512 trillion.
READ MORE: http://news.naij.com/55627.html