Acting President Prof. Yemi Osinbajo Finally Signs #2017 Budget

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The Acting President of The Federal Republic Of Nigeria Prof. Yemi Osinbajo has signed the 2017 Appropriation Bill into law after he made the announcement via Twitter on Monday June 12.

President Bukola Saraki, House Speaker Yakubu Dogara, as well as leaders of the
National Assembly were present at the event.

The National Assembly on May 11, passed the 2017 Appropriation Bill, raising the figure from N7.30 trillion presented by President Muhammadu Buhari on December 14, 2016, to N7.44 trillion.

In the approval, Statutory Transfers got N434 billion, N1.8 trillion for Debt Servicing, N177.5 billion for Sinking Fund for Maturity Bonds and N2.99 trillion for Recurrent Non-Debt Expenditure.

Contribution to the Development Fund for Capital Expenditure, exclusive of the capital expenditure in statutory transfers for the year ending December 31, 2017, got N2.2 trillion.

The chamber pegged crude oil production for the budget at 2.2 million barrels per day, with foreign exchange rate of N305 to a dollar.
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