Skip to main content

8 Things Every Nigerian Should Know About Buhari's 2016 Budget

By

2015 is almost over, in no time the government is expected to present its 2016 budget to the National Assembly.

See 8 things every Nigerian should know about the budget:
1. The entire budget is pegged at N6.04 trillion
2. Proposed government revenue is N3.82 trillion, projected deficit is N2.22 trillion.
3. N63.29bn has been allocated for fuel subsidy in the 2016 fiscal year
4. N500 billion is budgeted for Social Welfare Intervention Programmes Initiative, conditional cash transfer to the most vulnerable and post-NYSC grant.
5. According to the government, N350.33 billion misappropriated funds will be recovered in 2016 to help fund the budget.
6. 2016 Budget is the most expensive ever proposed by any government.
7. Oil Price benchmark for 2016 is set at $38/bbl .
8. Only 30% of the budget will be spent on capital projects.

Comments

Post a Comment

Popular Posts

I want to be first female Senate President – Garba

By
The Adamawa North Senatorial District Senator-elect, Binta Garba, on Thursday said she would unite the upper legislative chamber if she is elected as the first female Senate President in Nigeria. According to her, as the only female Senator from the North, her interest to vie for the Senate Presidency is to bring transparency into the leadership of the red chamber. Speaking with journalists in Abuja, the three-term member of the House of Representatives, said she had written to all her colleagues and other Nigerians on the need to support her bid to emerge as the first female Senate President in Nigeria. Garba, who was elected on the platform of the All Progressives Congress, said, “Apart from the fact that I have held several positions as a lawmaker in the House of Representatives, I am the first female chairperson of any public party in Nigeria, having been elected as the Adamawa State Chapter Chairperson of the APC in April last year. “I am still holding that position till...
Post a Comment
Read full story »

Nicki Minaj vacations in Dubai with Meek Mill

By
Nicki Minaj is currently on a vacation in Dubai with her boo of life- Meek Mills. They decided to cool off there after their Pink Tour which recently ended.
Post a Comment
Read full story »

To where? Calderon: Ronaldo could leave Real Madrid next summer

By
The man who took Cristiano Ronaldo to Real Madrid in 2009 thinks it's possible the Portuguese star could leave the club next summer.
Post a Comment
Read full story »