NATIONAL ASSEMBLY SLASHES, PASSES N6.06TRN 2016 BUDGET

-          The National Assembly yesterday passed a N6.06 trillion 2016 budget into law.

-          The Legislature reduced the President’s Proposal by N17 billion, slashing the N6.07 trillion to N6.06 trillion.

-          Budget highlights are: N351bn for statutory transfer, N1.4trn for debt service, N2.6trn for recurrent expenditure and N1.5trn as capital expenditure.N2.2trn fiscal deficit was retained.

-          Reportedly, the Presidency hailed the National Assembly for resolving the controversy in the budget and passing the budget. 

                             CULLED FROM VANGUARD