Oil Slump: Allocation To States, LGs To Drop By N32 Billion
11/24/2014 05:59:00 am |
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The decline in the price of crude oil in the international market may have led to a reduction in the 2015 allocation to states and local governments from N3.969tn in the 2014 budget to N3.937tn in 2015.
The proposal, which is contained in the revised 2015-2017 Medium Term Expenditure Framework sent by President Goodluck Jonathan to the National Assembly, is N31.91bn lower than the amount approved in the 2014 fiscal period.
The sources of allocation, according to the document, are from the federation account, Value Added Tax and stabilisation fund (Excess Crude Account).
Jonathan had last Wednesday submitted the revised MTEF to the National Assembly, in response to the declining oil price at .....http://talkafrica.co/ng/p/5858/oil-slump-allocation-to-states-lgs-to-drop-by-n32billion
Sent from my BlackBerry® wireless handheld from Glo Mobile.
The proposal, which is contained in the revised 2015-2017 Medium Term Expenditure Framework sent by President Goodluck Jonathan to the National Assembly, is N31.91bn lower than the amount approved in the 2014 fiscal period.
The sources of allocation, according to the document, are from the federation account, Value Added Tax and stabilisation fund (Excess Crude Account).
Jonathan had last Wednesday submitted the revised MTEF to the National Assembly, in response to the declining oil price at .....http://talkafrica.co/ng/p/5858/oil-slump-allocation-to-states-lgs-to-drop-by-n32billion
Sent from my BlackBerry® wireless handheld from Glo Mobile.
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