1% Consolidated Revenue fund allocated in Health Budget 2018.
Buhari presented a N8.612 trillion budget proposal for 2018 fiscal year before the joint session of the National Assembly on November 7, 2017.
Buhari, who announced the 2018 budget as “Budget of Consolidation” said the projected expenditure is expected to consolidate on the achievements of previous budgets, and deliver on Nigeria’s Economic Recovery and Growth Plan (ERGP) for 2018 – 2020.
“For the first time, the National Assembly with consultation with the Executive implement the National Health Act which provides at least 1% of the amount in the Consolidated Revenue Fund (CRF) should be devoted to health sevices.
“The National Assembly with consultation of the Executive have set aside N57.15 billion for the implementation of this Health Act
In his remark, Senator Lane Tejuoso, expressed delight over the consideration of the Senate to implement the National Health Act.
“History is being made in the health sector of Nigeria. We all recall in the Health Act, 2014 where it was stated that at least 1% CAN will be allocated to Primary Health Care. Millions of Nigerians will enjoy free health services across the country,” he said.
"It will further change the status of the National Health Act, a law signed into law in 2014 and came into effect in 2016 after 10 years of consideration."
Highlights of 2018 budget as passed by the National Assembly are: a total sum of N9,120,334,988,225 of which N530,421,368,624 was approved for Statutory Transfers as against N456,458,654,074 proposed by the Executive.
N2,203,835,365,699 for Debt Servicing, N190 billion for Sinking Fund for maturing loans; N3,512,677,902,077 for Recurrent (non debt) Expenditure while N2,873,400,351,825 as contributiom to the development fund for Capital Expenditure as against N2,427,665,113,222 earlier proposed.
The budget will have a Fiscal Deficit of N1,954,464,993,775 and a Deficit-to-GDP is put at -1.73 per cent
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