As was reported earlier here, President Muhammadu Buhari signed the 2018 appropriation budget today.

However, here are six things you need to know about the budget;


The total budget signed into law is at the total sum of ₦9.1 trillion up from the ₦8.6 trillion budget estimate he submitted on November 7, 2017.

The National Assembly made cuts amounting to ₦347 billion in the allocations to 4,700 projects submitted to them for consideration and introduced 6,403 projects of their own amounting to ₦578 billion.

Examples of projects from which cuts were made are; (a) a total of ₦5 billion from the provisions for Pensions Redemption Fund and Public Service wage adjustment. (b) a total of ₦1.5 billion was cut from the provision for the construction of terminal building at the Enugu Airport. (c) a total of ₦1.6 billion was cut from the provision for the take-off grant from the Maritime University in Delta State.

About 70 new road projects were inserted into the budget of the Federal Ministry of Power, Works and Housing.

There is an increase of the provisions for statutory transfers by an aggregate of ₦73.96 billion in which most of the increased are for recurrent expenditure.

An example of this increase is the increase of the budget of the National Assembly which was increased from ₦125 billion to ₦139.5 billion.

See more: https://reporthelm..com/2018/06/ten-things-you-need-to-know-about-2018.html?m=1