Finance Minister Okonjo-Iweala Presents N4.6 Trillion 2014 Budget To National Assembly

The Federal Government of Nigeria on Thursday presented a N4.6 trillion budget estimates to the National Assembly for consideration and approval for the 2014 fiscal year.

The budget estimates was laid on the floor of the Senate by the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala.

"Aggregate expenditure excluding SURE – P funds is about N4.6 trillion and the revenue is about N3.73 trillion," Okonjo-Iweala said.

"The capital is about N1.1 trillion and makes up about 27 per cent of the budget, the balances of N3.5 billion is the recurrent and it is about 72 per cent of the budget."

"The distinguishing feature between the 2013 budget and the 2014 budget is the focus we have on really continuing the successes that we had had in 2013 on creating jobs for young Nigerians; we are going to push it."

She added: "This budget is the budget for job creation and inclusive growth, meaning that, it is a budget which will continue the President's Transformation Agenda for several sectors of the economy."

"The budget is going to support the push in agriculture. It will kick start the housing sector where we can create more jobs."

"It is designed to our policies that would support manufacturing because jobs would be created there."

The Senate Leader, Victor Ndoma-Egba, moved a motion that the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, be allowed to lay the budget in line with Section 81 of the 1999 Constitution (as amended).

Okonjo-Iweala was promptly ushered into the Senate chamber by the Sergeant-At-Arms accompanied by some ministers.

The laying of the budget estimates was devoid of the usual fanfare associated with budget presentation.

After laying the budget estimates, the Senate merely discharged the Minister and her entourage without any comment on the estimates.