After much delay, its finally here! The Senate on Wednesday, passed Nigeria’s 2014 budget of N4.69 trillion.
The budget was supposed to have been passed since January 2014, which was the beginning of the fiscal year. However, the House of Representatives reportedly took its time reviewing the budget in order to ensure that it would best serve the general interest of Nigerians.
The currently approved budget is N53 billion more than the originally proposed budget of N4.642 trillion which President Goodluck Jonathan requested for in December 2013.
The sectors with the highest amount of funds allocated to them are: Education (N424.3 billion) and Defence (N349.7 billion).
The National budget for 2013 budget was N4.987 trillion – N308 billion more than the current budget.
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