President Muhammadu Buhari has sought the approval of the National Assembly for N465, 636,926,857 supplementary Budget for the 2015 fiscal year.
A breakdown of the supplementary budget includes N460, 636,926,857 for additionally recurrent (non-debt) while N5 billion is for contribution to the development fund for additional capital expenditure.
Buhari’s request was contained in a letter separately sent to Yakubu Dogara, Speaker, House of Representatives and Bukola Saraki, Senate President.
The Federal Government’s 2015 budget, particularly the capital component had been poorly implemented on account of low revenues which had slumped by about 40 percent on account of soft oil prices.
KEHINDE AKINTOLA
