Take A Look At The Breakdown Of Nigeria’s 2016 Budget


Nigeria 2016 BudgeTake A Look At The Breakdown Of Nigeria’s 2016 Budge
the Nigerian 2016 budget was presented  by the president muhammadu buhari a budget of 6.07 trillion Naira.

The bench mark for the new Nigeria’s 2016 budget is base on the crude oil price of $38 per barrel and a estimated production of 2.2 million barrels per day for 2016.

Take A Look At The Break down Of Nigeria’s 2016 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\

he Deficit expenditure of 2.22 trillion Naira which accounts for equivalent of 2.16% of Nigeria’s GDP will be funded by venture of both domestic borrowing and foreign borrowing at a rate of of N984 billion and N900 billion totaling N1.84 trillion.

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