Punch reports that In the first nine months of the year, the Federal Government had spent N3.42tn out of the total N4.493tn spending approved in the 2015 budget.
These figures are contained in the Medium Term Expenditure Framework and Fiscal Strategy Paper (2016-2018) sent by President Muhammadu Buhari to the National Assembly.
The document was approved by the Federal Executive Council on Monday and sent to both chambers of the National Assembly on Tuesday for deliberation and approval.
Of the total appropriation of N4.49tn and a supplementary budget of N574.53bn for spending on security and emergency provision of subsidy claims, N3.42tn had been spent as of September for both recurrent and capital, with the shortfall in revenue inflow being made up by additional financing from borrowing and other sources.
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