• As NASS retains N128bn, NJC retains N110bn allocations
According to the documents sighted by Tribune Online, the 2.18mbpd volume oil production was reduced to 1.7mbpd; oil price benchmark was also reduced from $57 to $30 per barrel while the average exchange rate was increased from $305/$ to $360/$.
The redistributable Federal Government’s share of the Federation Account (52.68%) was reduced from N4.516 trillion to N1.648 trillion; deductions was reduced from N214.291 billion to N78.216 billion; Net Federal Government share of Federation Account (48.5%) was reduced from N4.157 trillion to N1.517 trillion while the net ecological and derivation (after 10% transfer to NEDC) was reduced from N77.145 billion to N28.158 billion.
But the budget for Niger Delta Development Commission was reduced from N80.882 billion to N29.522 billion; North East Development Commission’s budget reduced from N38.102 billion to N14.079 billion; Universal Basic Education Commission’s budget reduced from N111.789 billion to N61.024 billion while Basic Health Care Fund’s budget was reduced from N44.498 billion to N17.981 billion.
(Nigerian Tribune)
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