Thursday 11 October 2012

Jonathan to spend N4.9trn in 2013 BUDGET

                           
PRESIDENT Goodluck Jonathan, yesterday, presented to the Joint National Assembly a total budget of N4.92 trillion as the aggregate expenditure for the 2013 fiscal year, just as he pegged the benchmark oil price at US$75 per barrel, an increase from the US$72 per barrel of 2012.

The 2013 budget, which is five per cent increase over the N4.749 trillion of 2012, is made up of N380.02 billion for Statutory Transfers , N591.76 billion for Debt Service, N2.41 trillion for Recurrent(Non-Debt) Expenditure and N1.54 trillion for Capital Expenditure.

In the budget proposal which is tagged “Fiscal Consolidation with Inclusive Growth,”  Security comprising defene and Police gulped the highest allocation of N668.56bn with Education coming second with N426.53 billion; Health, N79.23 billion; Works, N183.5 billion; Agriculture and Rural Development, N81.41 billion and Power, N74.26 billion. Continue to see full list...

 
Total Expenditure              N4.92trn             N4.88 trn
Recurrent Expenditure      N2.41trn         N2.472 trn
Capital Expenditure          N1.54trn         N1.32trn
Oil Price (Per Barrel)        US$75             US$72
Oil Prod (Barrel P/d)         2.53m             2.48m
GDP Growth                      6.5%               7.2%
Fiscal Deficit                      2.17%            2.85 %
Statutory Transfers            N380.02bn     N398bn
Security                             N668.56bn      N921.91bn
Education                          N426.53bn      N400.15bn
Health                               N279.23bn      N282.77bn
Works                                N183.5bn        N180.8bn
Agric & Rural Devt             N81.41bn       N78.98bn
Power                                N74.26bn       N161.42bn

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