Chairman of the Committee, Mr. Abdulmumuni Jibrin (APC-Kano) while presenting the report during Tuesday’s plenary urged the House to give speedy consideration given the urgency of the 2016 budget for the economy.
A breakdown of the budget bill indicates that N351.3 billion is for statutory transfers; N1.475 trillion for debt servicing; and N2. 648 trillion for recurrent (non Debt) expenditure.
It further explained that the sum of N86 billion as interest on Capital Loans is for contribution to the Development Fund for capital Expenditure for the Year Ending on the 31st Day of December, 2016.
The lower chamber could not consider the report owing to the demise of a lawmaker, Musa Baba Onwana from Nasarawa/Toto federal constituency, Nasarawa State(APC).
His death also stalled the receipt and adoption of Conference report on the 2016-2018 Medium Term Expenditure Framework (MFTEF) and Fiscal Strategy Paper (FSP) of the Federal Government.