Tuesday, December 22, 2015

here is the breakdown of Nigeria's budget for 2016

President Buhari has presented the 2016 budget to both upper and lower house, here Is the breakdown of the budget:

GDP Growth Rate Projection 4.37%

Revenue Projection 3.86 Naira

Deficit 2.22 trillion Naira (equivalent to 2.16% of Nigeria’s GDP)

Oil Related Revenues 820 billion Naira

Non-oil Revenues 1.45 trillion Naira

 Projected Independent Revenues 1.51 trillion Naira

Capital Expenditure 1.8 trillion Naira (30%  of total budget)

Works, Power and Housing 433.4 billion Naira

Transport 202.0 billion Naira

Interior 53.1 billion Naira
                                                                                                                                                             
Special Intervention Programs 300 billion Naira
Education 369.6 billion Naira
Defence 294.5 billion Naira
Health 221.7 billion Naira
Ministry of Interior 145.3 billion Naira
Foreign and Domestic Debt Service 1.36 trillion Naira
Sinking Fund towards the retirement of maturing loans 113 billion Naira
Non-debt Recurrent Expenditure 2.65 trillion Naira

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