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

Buhari Seeks Approval of $75 Million World Bank Loan For Edo

By
President Muhammadu Buhari has written to the Senate seeking approval of a $75 million World Bank loan on behalf of the Edo State. “I am writing to seek the consideration of the national assembly of Nigeria on approval of a request by the Edo state government‎ to obtain a $75 million credit facility from the World Bank,” the president wrote in a letter read on the floor of the upper chamber by Bukola Saraki, Senate President, on Tuesday.
Post a Comment
Read full story »

Ice Prince preaches against pre-marital sex

By
*Ice Prince Zamani Ice Prince may have learnt one or two lessons from having a child outside wedlock as the young man, perhaps from experience, advised students of the University of Lagos against having pre-marital sex. At the MTV Base Suga Tour where the singer was one of the artistes that performed, Ice Prince thrilled the students and other guests with hits from his albums, making them dance and dance as they sang along with him. Amid the fun, some of the students inflated condoms and turned them into balloons and started tossing them around the auditorium. It was then Ice Prince caught one of the condom turned balloons and started preaching against pre-marital sex. His advice was well accepted but it didn’t stop one or two of the students talking about Ice Prince being a father. “This guy thinks we don’t know that he has a child outside wedlock or does he think we would have forgotten so quickly. I think he should have given himself this advice before impregnating a w...
Post a Comment
Read full story »

New Examination Pattern In India Is Too Amusing, Says Tiwari, Blog Reader

By
I got this tweet from an Indian informat, Ashutosh Tiwari. Twitter handle : @Ashutos22948459
Post a Comment
Read full story »