A total of Forty-five Billion, One Hundred and Ninety Million, Nine Hundred and Forty-one Thousand, Two Hundred and Eighty-four Naira (N45,190,941,284) representing 36.79% of the budget is earmarked for Recurrent Expenditure.
The sum of Seventy-one Billion, Six Million, and Two Thousand Naira (N71,006,002,000) representing 57.81% of the total budget is earmarked as Capital Expenditure for the year 2018.
Consolidated Revenue Fund Charges
Similarly, the sum of Six Billion, Six Hundred and Twenty-four Million Naira (N6,624,000,000) has been allocated to Consolidated Revenue Fund Charges for debt servicing, pension and gratuity. This represents 5.39% of the total budget.
2018 Total Budget Size
The Rt. Hon. Speaker, Honourable Members, I am delighted to lay before you a total budget size of One Hundred and Twenty-two Billion, Eight Hundred and Twenty Million, Nine Hundred and Forty-three Thousand, Two Hundred and Eighty-four Naira (N122,820,943,284) only for the 2018 fiscal year.
On the whole, the 2018 appropriation for the various sectors is as follows:
Legislation – N19.75 billion
Pension & Gratuity – N2.80 billion
Information & Culture – N1.13 billion
Civil Service Matters – N0.728 billion
Sector Sub-Total – N24.41billion
Agriculture – N2.39 billion
Finance & Investment – N10.03 billion
Works, Housing and Urban
Development – N37.30 billion
Water Resources & Rural
Development – N3.93 billion
Lands & Physical Planning – N7.90billion
Sector Sub Total – N53.65billion
Law & Justice Sector
Judicial Service Commission-N0.173billion
Ministry of Justice – N0.280billion
Courts of Justice – N2.57billion
Sector Sub Total – N3.02billion
Education – N24.23 billion
Health – N8.76 billion
Youth & Sports Development – N1.08billion
Women & Social Development – N0.235billion
Environment & Solid Minerals- N1.41billion
Sector Sub Total – N35.72billion