Tag 2017 appropriation bill
The 2017 Appropriation Bill in Nigeria was a budget proposal presented by President Muhammadu Buhari to the National Assembly in December 2016. The bill was tagged "Budget of Recovery and Growth" and aimed to stimulate economic growth and recovery in the country.
Here are some key highlights of the 2017 Appropriation Bill:
- Total Budget: The total budget proposal was N7.28 trillion (approximately $18.9 billion).
- Recurrent Expenditure: The recurrent expenditure component of the budget was N3.96 trillion (approximately $10.3 billion), which accounted for 54.2% of the total budget.
- Capital Expenditure: The capital expenditure component of the budget was N2.96 trillion (approximately $7.7 billion), which accounted for 40.6% of the total budget.
- Allocation to Ministries: The budget allocated N1.45 trillion (approximately $3.8 billion) to the Ministry of Defence, N1.23 trillion (approximately $3.2 billion) to the Ministry of Education, and N1.14 trillion (approximately $3 billion) to the Ministry of Health.
- Allocation to States: The budget allocated N2.46 trillion (approximately $6.3 billion) to the 36 states of the federation, with each state receiving a minimum of N100 billion (approximately $260 million).
- Allocation to Local Governments: The budget allocated N852 billion (approximately $2.2 billion) to the 774 local governments in the country.
- Debt Service: The budget allocated N1.66 trillion (approximately $4.3 billion) to debt service, which accounted for 22.8% of the total budget.
- Capital Projects: The budget proposed several capital projects, including the construction of new roads, bridges, and rail lines, as well as the upgrade of existing infrastructure.
The 2017 Appropriation Bill was passed by the National Assembly in May 2017, with some modifications. The bill was signed into law by President Buhari in June 2017.