The Nigerian Senate yesterday approved N4.6 trillion as Nigeria's 2014 budget.The Senate increased the budget from what was initially proposed by President Goodluck Jonathan by N53 billion.Dr. Ngozi Okonjo-Iweala on behalf of President Goodluck had presented a budget of 4.642 trillion back in december 2013.
A breakdown of the passed budget shows that Education and Security both have the largest share.In Education,N375.5 billion has been budgeted as recurrent expenditure and 50.7 billion as capital expenditure.While Security which consists of Ministry of Defence,Army,Navy and Air Force has 314.3 billion as recurrent expenditure and 35.3 billion as capital expenditure.
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