Overview

The document is the 2017 Appropriation Bill (Harmonised) Final Amended of the Federal Republic of Nigeria. It authorizes the issue of N7,441,175,486,758 from the Consolidated Revenue Fund for the year ending December 31, 2017. The sum is allocated to Statutory Transfers (N434,412,950,249), Debt Service (N1,841,345,727,206), Sinking Fund for maturing bonds (N177,460,296,707), Recurrent (Non-Debt) Expenditure (N2,987,550,033,436), and Capital Expenditure (N2,177,866,775,867). Key provisions include: Section 1 details the issue and appropriation of funds via warrants signed by the Minister of Finance; Section 2 restricts fund releases to specified purposes; Section 3 requires National Assembly approval for virement; Section 4 mandates separate records for excess revenue from oil sales above the benchmark oil price of $44.5 per barrel, including Petroleum Profit Tax and royalties. The bill is enacted by the National Assembly and applies to the 2017 fiscal year.

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