NASS to spend N125bn in 2017

National Assembly plans to spend the sum of N125 billion in 2017 as against the sum of N115billion it budgeted for 2016.
This is the first time in many years that the National Assembly will be releasing details of its spending plan for a fiscal year to the public.
A break down of the National Assembly 2017 budget shows that personnel cost takes N23,789,787,880; overhead cost is allocated N85,878,619,888; capital cost will gulp N14,940,196,063.
A further breakdown of the estimates shows that the National Assembly gets N14.9 billion; Senate, N31.3 billion; House of Representatives, N49 billion; National Assembly Service Commission, N2.4 billion; legislative aides, N9.6 billion; Public Accounts Committee (Senate), N118.9 million; Public Accounts Committee (Reps), N142.7 million; general services, N12.5 billion; National Assembly Legislative Institute, N4.3 billion; and service wide vote, N391.3 million.
Meanwhile, the House of Representatives has passed the 2017 budget after adopting its report from the appropriation committee.
The appropriation bill report was passed at plenary on with N434.4 billion allocated for statutory transfer, N1.84 trillion for debt servicing and N177.46 billion for maturing bonds.