Ag. Yemi Osibanjo Signs 2017 Budget into Law

Osibanjo Signs 2017 Budget
Senate President Bukola Saraki (L) congratulates the Acting President Yemi Osinbajo after Osinbajo signed the 2017 Appropriation Act into law at the Presidential Villa in Abuja.

Nigeria’s Acting President, Prof. Yemi Osinbajo on Monday signed the 2017 Appropriation Bill into law.

He shared the news via his official Twitter account:

The Budget signing event was witnessed by leaders of the National Assembly, Senate President Bukola Saraki, House Speaker Yakubu Dogara and members of the Federal Executive Council.

Osibanjo Signing the 2017 Budget

The 2017 Budget is to the tune of N7.44 trillion, with N1.8 trillion for Debt Servicing, N177.5 billion for Sinking Fund for Maturity Bonds and N2.99 trillion for Recurrent Non-Debt Expenditure and Statutory Transfers got N434 billion. Production of crude oil production was fixed at 2.2 million barrels per day, with foreign exchange rate of N305 to a dollar, while contribution to the Development Fund for Capital Expenditure, exclusive of the capital expenditure in statutory transfers for the year ending December 31, 2017, got N2.2 trillion.

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