REVIEW OF THE 2O15 FEDERAL APPROPRIATION ACT

This is a review of the 2015 Federal Appropriation Act encompassing the key budget parameters and frivolous, wasteful and inappropriate expenditure. The idea behind the review is to point out the flaws in the budget as a basis for change in the 2016 Appropriation Process. We can learn from “mistakes” and past experiences as a basis for change. The thrust of the presentation is to improve transparency and accountability, value for money and free up funds for the enhancement of the development agenda.

ANALYTICS OF THE 2015 BUDGET

General Overview: The 2015 Federal Budget is made as an Act authorising the issue from the Consolidated Revenue Fund of the Federation the total sum of =N=4,493,363,957,158 (Four Trillion, Four Hundred and Ninety-Three Billion, Three Hundred and Sixty Three Million, Nine Hundred and Fifty Seven Thousand, One Hundred and Fifty Eight Naira) only, of which, =N=375,616,000,000 (Three Hundred and Seventy-Five Billion, Six Hundred and Sixteen Million Naira) only is for Statutory Transfers, =N=953,620,000,000 (Nine Hundred and Fifty-Three Billion, Six Hundred and Twenty Million Naira) only is for Debt Service, =N=2,607,132,491,708 (Two Trillion, Six Hundred and Seven Billion, One Hundred and Thirty-Two Million, Four Hundred and Ninety-One Thousand, Seven Hundred and Eight Naira only is for Recurrent (Non-Debt) Expenditure while the sum of =N=556,995,465,449 (Five Hundred and Fifty-Six Billion, Nine Hundred and Ninety-Five Million, Four Hundred and Sixty-Five Thousand, Four Hundred and Forty-Nine Naira) inclusive of =N=144,420,000,000 (One Hundred and Forty Four Billion, Four Hundred and Twenty Million Naira) Capital Expenditure in Statutory Transfers, is for contribution to the Development Fund for Capital Expenditure for the year ending on the 31st day of December, 2015. The votes and their percentages is broken down as follows in Table 1

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