Nigeria

Parliament raises expenditure in budget


Published

The Nigerian parliament has approved the 2012 budget with few changes other than an increase in expected expenditure.

The parliament has placed a figure of N4.88 trillion (£19.7 bn; $30 bn) expenditure on the budget, an increase of N299 bn (1.2 bn; $1.9 bn) on the figure proposed by Finance Minister Ngozi Okonjo-Iweala in his February statement.

The adjusted figure assumes a price of $72 a barrel for the oil benchmark.

Last year President Goodluck Jonathan sent the budget back to parliament when they adjusted spending figures and it remains to be seen if he will do the same again this year.

The full details of the budget can be found at http://www.budgetoffice.gov.ng/2012_budget_proposal.html.

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