Abuja – On Thursday, Nigeria’s President Goodluck Jonathan presented the budget estimate for the 2014 fiscal year to the National Assembly.
Minister of Finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala acted on behalf of the President.
The 2014 budget of N4.6 trillion, is a decline in comparison with the N4.7 trillion of 2013.
According to the budget estimate, the Federal Government is to spend N1.1 trillion for capital expenditure, while N3.7 trillion is expected to come from the Internally Generated Revenue (IGR).
No further details were disclosed. Later, speaking to journalists, Okonjo-Iweala said the aggregate expenditure of N4.6 trillion excluded the Subsidy Reinvestment Expenditure Programme (SURE-P).
