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“The Commission has submitted a budget proposal of N322 billion for 2014 as against N315 billion in 2013 presenting an increase of about 2.1 per cent over last year’s budget.
“Furthermore, the budget is made up of personal expenditure of N15.80, 73 billion only.”
According to the budget estimate, recurrent expenditure stood at N10.186 billion, capital expenditure, N2.281 billion, while project development expenditure was expected to gulp N295.051 billion.
The President stated that the sources of revenue for the proposed budget included revenue brought forward, which was N23 million, and federal government contribution excess crude arrears of N50 million.
