President Goodluck Jonathan, after the disagreement with the National Assembly on the budget bench mark of $75 per barrel (bpd) of crude oil, presented a financial document of N4.92 trillion as aggregate expenditure for 2013 fiscal year. The document shows an increase of about 5 per cent over the N4.7 trillion appropriated for 2012, which is made up of N380.02 billion for Statutory Transfers, N591.76 billion for Debt Service, N2.41 trillion for Recurrent (Non-Debt) Expenditure and N1.54 trillion for Capital Expenditure.The appropriation bill increased spending by 5 percent from this year’s N4.697 trillion but shrunk the deficit and cut the
