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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