President Goodluck Ebele Jonathan
The Federal Government has proposed a total of N14.07tn as budget for the next three years, with a proposal to spend N4.495tn in the 2014 fiscal year.
The 2014 proposal is N425bn less than the N4.92tn proposed by the Federal Government for 2013.
It also proposed N4.743tn and N4.839tn for the 2015 and 2016 fiscal years, respectively.
These were contained in the 2014-2016 Medium Term Expenditure Framework submitted to the National Assembly by President Goodluck Jonathan on Tuesday.
The document, which was obtained by our correspondents in Abuja on Wednesday, stated that the 2014 budget figure represented a 9.57 per cent drop from the 2013 budget of N4.987tn.