A breakdown of the‎ 2019 budget shows that N502,058,892,965 is for Statutory Transfers; N2,254,014,113,092 is for Debt Servicing; N4,055,940,383,684 is for Recurrent Expenditure; and N2,094,950,709,632 is for Capital Expenditure.

The Nigerian Senate yesterday passed a sum of N8.916 trillion as the budget for the 2019 fiscal year as against the N8.83 trillion proposed by President Muhammadu Buhari.

Concise News reports that the new budget figure was passed after Danjuma Goje, chairman senate committee on appropriations, presented a report on the floor of the upper legislative chamber on Tuesday.

The National Assembly would transmit the approved 2019 Budget of N8.92trn to President Muhammadu Buhari on Thursday.

Chairman of the House Committee on Appropriation, Hon. Mustapha Dawaki, made this known while briefing newsmen after plenary in Abuja.

Dawaki explained that the increase in total budget from N8.83trn was due to the inclusion of funds for “special interventions’’ made by the National Assembly.

He said that the interventions included the provision of N24.6bn as severance allowance for outgoing lawmakers and N10bn for Zamfara terrorism.

He said that the Christmas break and the general elections accounted for the delay in the passage of the budget.

“The President laid this budget on December 18, 2018, but certain extraneous forces such as the Christmas and New Year breaks also affected quick passage of the Appropriation Bill.

“And, don’t forget that we had to go on break to fully participate in the February polls; all these were distractions that really affected the passage of the Appropriation Bill.

“Hopefully, by Thursday the budget will be transmitted to the president for his assent.

“We left the oil benchmark and exchange rate as sent by the executive, except for the deficit which we adjusted,’’ Dawaki said.

Concise News had earlier reported that the House of Representatives passed a sum of N8.92 trillion appropriation bill for the year 2019.

Also, the country’s upper legislative chamber had earlier passed the same amount as against the N8.83 trillion proposed by President Muhammadu Buhari.