Nigerian Lawmakers Approve Record Budget for 2016 After Delays
This article is for subscribers only.
Nigerian lawmakers approved President Muhammadu Buhari’s proposals to spend a record 6.08 trillion naira ($30.5 billion) in 2016 to help the economy ride out the oil slump.
The West African nation plans to spend 1.8 trillion naira on capital projects, 1.5 trillion naira to service debts and 2.65 trillion naira on recurrent expenditures excluding debt, Senate President Bukola Saraki said in parliament in the capital, Abuja, on Wednesday. Lawmakers had for months postponed voting on the budget amid complaints it was presented to them late and the document contained several mistakes and discrepancies.