SENATE PASSES 2016 BUDGET

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The 2016 federal budget was Wednesday passed by the Senate. The lawmakers approved a total of N6.060trn made up of N1.587trn capital expenditure of the budget and the recurrent expenditure of N2.646.3trn.
The sum of N351.37bn was approved for statutory transfers, N1.475.3trn for Debt Service, and N2.2trn for Fiscal deficit.

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