President Jonathan To Present 2014 Budget To NASS Nov 12

Posted by African Examiner Featured, Femi Kehinde, Latest Headlines, News Tuesday, October 29th, 2013

Femi Kehinde

President Goodluck Jonathan has notified the leadership of National Assembly of his intention to address and present the 2014 budget estimates to a joint session of the two houses on November 12, 2013.

: Nigeria’s President Goodluck Jonathan

In a letter conveyed to the two houses and dated October 23, 2013, was delivered to the Senate President and Speaker of the House of Representatives.

The letter was read at plenary in both chambers.

“I write to crave your kind indulgence to grant me the slot of 12:00 noon on Tuesday, 12th November 2013 to enable me formally address a Joint Session of the National Assembly on the 2014 Budget,” Jonathan’s letter read in part.

According to the President’s letter, the 2014-2016 MTEF/FSP fixed crude oil benchmark for the yet-to-be-presented 2014 budget at $74 per barrel while N663.6 billion and N48 billion was earmarked for domestic and foreign debt service, totaling N712 billion.

Under the “Federally Collectible Revenue” category, the federal government is projecting to earn N10,519 trillion for 2014. A breakdown reads: Gross oil revenue (N6,814 trillion), Gross non-oil revenue (N3,288 trillion), non-federation account levies for targeted expenditure (N250.0billion), education tax (N156 billion) and National Information Technology Development Fund (N9.390 billion).