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:
I just signed 2017 Budget into law. It’s an important milestone in our economic recovery & growth plan laid in April by President Buhari.
— Prof Yemi Osinbajo (@ProfOsinbajo) June 12, 2017
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.
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.