NASS to appropriate 60% of 2011 budget
A senator from
Bauchi Central, Mohammed Muhammed, has said that the National Assembly
will approve 60 per cent of the 2011 budget for capital expenditure.
Mr. Muhammed of
ANPP made this known at the weekend in Darazo, headquarters of Darazo
local government Area of Bauchi State, in an interview with the News
Agency of Nigeria.
He said that the
National Assembly was taking the measure to reduce the huge funds that
were spent on recurrent expenditure. Mr. Muhammed noted that in
previous budgets, meagre funds were allocated for capital expenditure,
adding that the development made the execution of some vital projects
difficult.
He said that the
recurrent expenditure in the nation’s budget was always more than the
capital expenditure, adding that this had affected the implementation
of many projects.
“There is the need
to either balance the budget to the ratio of 50:50 for both capital and
recurrent expenditure, or 60:40 in favour of capital expenditure,” Mr.
Muhammed said.
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