President Muhammadu Buhari on Wednesday presented the N7.298 trillion 2017 Budget to the joint session of the National Assembly in Abuja.
In his address, the President told the lawmakers that his administration will focus on rapid infrastructural development for the country.
He also assured that the government will continue to prioritize defence spending.
” We will enhance public service delivery.
” Capital expenditure to take 30 per cent of the budget,” the President added.
He regretted that drop in oil prices affected the 2016 Budget.
He also told the gathering that properties seized from looters have been converted to government offices.
The budget tagged: “Budget of Recovery and Growth,” was higher than the 2016 Appropriation ( N6.07 trillion) by 9.95 per cent.
The government also pegged the projected oil revenue at N1.985 trillion.
Breakdown of allocations to ministries and parastatals revealed that Power, Works and Housing ministry will take the largest chunk of the budget – N529 billion.
Judiciary will receive N100 billion. N30 billion was voted for the ministry in 2016.
Amnesty programme will receive N65 billion in the 2017 budget.
