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

British Airways Plane Catches Fire In Las Vegas, injuries sustained by boarders

By
A British Airways plane caught fire on Tuesday as it was preparing to take off from Las Vegas, forcing the evacuation of 172 people on board on emergency slides. “There were 159 passengers and 13 crew on the flight,” McCarran International Airport in Las Vegas said.
Post a Comment
Read full story »

Emma Nyra, Ubi Frankling open up on their rift

By
It is no longer news that Triple MG boss, Ubi Franklin and his record label first lady, Emma Nyra have called it quits. Yes, and it was not a matter they resolved at a roundtable, the once chummy-chummy duo took each other to the cleaners and put up a bit of a show on social media to fill their fans in on all the shindig that went down. At a point in their creamier than cream relationship, the duo were virtually inseparable, which set tongues wagging that they must have been more than mere friends. While the hint of a relationship was being dropped around, neither Ubi nor Emma saw anything wrong with it. Until the song changed! According to reports, the song changed for them when Ubi Frankin proposed to Nollywood actress, Lilian Esoro, presumably, shunning his ward who has been waiting in the wings for years. The song went from sorry to sad when Emma Nyra reportedly blurted out in an interview that she was never romantically involved with Ubi. Now, the sad song went very bad wh...
Post a Comment
Read full story »