The Nigerian senate of the 8th National Assembly has passed the controversial 2016 appropriation bill that was presented by President Muhammadu Buhari as far back as December 22, 2016.
See the breakdown in summary of the budget below:
(1) Statutory transfers: 351,370,000,000
(2) Debt service: 1,475,320,000,00
(3) Recurrent expenditure: 2,646,389,236,196
(4) Capital expenditure: 1,587,598,122,031
(5) Fiscal deficit: 2,204,936,925,711.16
(7) Deficit/GDP: 2.14%
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