The Full Breakdown Of Nigeria’s 2016 Budget
Nigeria’s President, Muhammadu Buhari, on Tuesday presented a 2016 budget proposal of 6.07 trillion Naira.
Nigeria’s 2016 Budget is based on a crude oil benchmark price of $38 per barrel and a production estimate of 2.2 million barrels per day for 2016.
See the full breakdown below
| 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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