NASS slashes, passes N6.06trn 2016 budget

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...towards a better life for the people

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VOL. 25: NO. 62901

ONLINE | www.vanguardngr.com

N150

THURSDAY, MARCH 24, 2016

Traffic to prison: Insurance experts fault Lagos magistrate's action

Abducted school girls: Suspect asked us for forgiveness, prayers 10

— PRINCIPAL

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NASS slashes, passes N6.06trn 2016 budget •Slashes Buhari's estimate by N17bn •Queries omission of salaries, allowances for MDAs •Adopts $38pb bench mark •N2.2 trillion as fiscal deficit retained •Presidency hails NASS over passage

By Gabriel Omoh, Henry Umoru, Emman Ovuakporie, Johnbosco Agbakwuru & Joseph Erunke

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BUJA—THE N a t i o n a l Assembly, yesterday, passed a N6.06 trillion

BUDGET 2016 HIGHLIGHTS NASS

Presidency Proposal

*Total budget N6. 06 trn N6.0777trn *Reduced by N17 billion *Revenue estimate- N3.86 trn *Deficit : N2.204 trn *N2,646 trn recurrent (non-debt) N2.486trn *N1,587 trn capital N1.45540trn *N1,475 bn Debt service 1,475,320 *$ 38 pbl oil benchmark (same as executive proposal) *Oil output – 2.2m bpd 2.2mbpd *Exchange rate-N197/$1 N197/$ *N351.370 bn statutory transfers N351.70bn *NASS gets N115 billion *UBEC N77.110 bn *NJC N70 bn *INEC N45 bn *NDDC N41.050 bn *N20 billion amnesty programme, *N8 billion Lafiya Dole

2016 budget into law, following a motion by the Chairman, Joint Committee on Appropriations, Senator Danjuma Goje, seconded by Senator Andy Uba, thus reducing the President's proposal by N17 billion. While the President proposed a budget of N6.07 trillion,

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Presidency: No vacancy in 2019 From left: Dr. Oba Otudeko, Founder/Chairman of Honeywell Group and winner of the 2016 CEO Award, being congratulated by Dr Ngozi Okonjo-Iweala, Former Minister of Finance and Dr Akinwunmi Adeshina, President of African Development Bank (AfDB) at the 2016 Africa CEO Forum in Abidjan.

CBN POLICY: Interest rates, Bond yields 16 rise, as stock market reverses gain COLUMNISTS:

Borno State: Counting the cost Core issues in Will gas flaring of insurgency•P.17 the Rivers polls •P.19 ever end? •P.19

Fuel scarcity continues till May —KACHIKWU

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— APC National caucus 8

Mr & Mrs


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