By Modupe Gbadeyanka
The 2017 appropriation bill for 2017 presented to the Edo House of Assembly on by Governor Godwin Obaseki on December 19, 2016, has been passed by the Assembly.
The N153.18 billion budget was passed on Monday after Chairman of the House Committee on Appropriation and Project Monitoring, Mr Damian Lawani, submitted his report.
After consideration, the lawmaker expressed satisfaction with it and then approved it.
Mr Lawani, while addressing his colleague before passage of the appropriation bill, explained that the budget reflected the needs of the people and was designed to consolidate and complete all ongoing projects.
He said N76.6 billion was allocated for capital expenditure, while N76.5 billion for re-current expenditure.
In his analysis, N18.5 billion, N7.2 billion, N3.6 billion and N6.034 billion were earmarked for the recurrent expenditure of the administrative, economic, law and justice and social sectors, respectively, while N5.68 billion, N47 billion, N1.84 billion and N22.09 billion were allocated for the capital expenditure for the administrative, economic, law and justice and social sectors, respectively.
He said the budget consists of N75.11 billion for capital expenditure, while the proposed recurrent expenditure stood at N74.9 billion.
However, the Assembly increased the appropriation bill with about N3 billion, representing 0.1 percent increase.
more recommended stories
Ecobank Subsidiary Rubbishes Airtel Shares Forfeiture Claim
By Modupe Gbadeyanka An arm of.
Asian Shares Rise Despite Weak Japanese Export Data
By Investors Hub Asian stocks rose.
European Stocks Close Mixed Ahead of Bank of England Policy Meeting
By Investors Hub European stocks are.
Wall Street Opens Mixed on Looming Fed Meeting
By Investors Hub The major U.S..