Friday, December 17, 2010

Nigeria Reduces Parliament’s 2011 Spending, Punch Reports

Nigeria’s budget announced on Dec. 15 slashed money allocated to parliament for its operations next year to 111.2 billion naira ($718 million) from 156 billion naira in 2010, Punch reported.

About 108 billion naira is for recurrent expenditure, while 3.21 billion naira is for investment, according to a breakdown provided in the Lagos-based newspaper.

Lamido Sanusi, governor of the Central Bank of Nigeria, said last month that lawmakers are responsible for a quarter of the government’s recurrent expenditure, a statement that parliament demanded he retract.

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