FG projects N4.817 trillion budgets for 2015

 

The Federal Government of Nigeria has projected the sum of N4.817 trillion as budget for 2015 as against N4.724 trillion for 2014.

The proposal is contained in the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) sent to the National Assembly by President Goodluck Jonathan for consideration and approval also projected N1.221.4 trillion as subsidy on petrol and kerosene.

A total of N971.4 billion is being proposed as subsidy on Premium Motor Spirit (PMS) otherwise known petrol while N250 billion would be spent as subsidy on kerosene.

The document also contained a projected sum of N4.817trillion as budget for 2015.

The Fiscal a Responsibility Act provides that the National Assembly must consider and approve the MTEF/FSP before the President presents the budget to a joint session of the National Assembly.