Overview

The 2015 Appropriation Act of Nigeria authorizes the issuance of N4,493,363,957,158 from the Consolidated Revenue Fund for the fiscal year ending December 31, 2015. The sum is allocated across Statutory Transfers (N375,616,000,000), Debt Service (N953,620,000,000), Recurrent (Non-Debt) Expenditure (N2,607,132,491,708), and Capital Expenditure (N556,995,465,449, including N144,420,000,000 in Statutory Transfers). The Act specifies that funds shall be released via warrants signed by the Minister of Finance, appropriations are as per the attached Schedule, and virement requires prior National Assembly approval. The Schedule details Statutory Transfers to entities such as the National Judicial Council (N73bn), Niger-Delta Development Commission (N46.72bn), Universal Basic Education (N68.38bn), National Assembly (N120bn), Public Complaints Commission (N4bn), INEC (N62bn), and National Human Rights Commission (N1.516bn). Debt Service includes Domestic Debts (N894.61bn) and Foreign Debts (N59.01bn). The Act is a financial authorization law for the 2015 budget year.

Download