President Goodluck Jonathan presented a 4.749 trillion naira ($29.29 billion) budget to the national assembly on Tuesday, in what he said would be the start of prudent financial planning, despite spending rising from this year. Jonathan said spending would rise from the 4.48 trillion in 2011 but recurrent expenditure would fall to 72 percent of the budget from 74.4 percent this year as the government focuses more money on capital projects.
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Added December 13, 2011
from Businessday Nigeria