The Federal Government has earmark the sum of N500 billion for social welfare intervention programmes for 2016 fiscal year.

The government also made a provision of N63.29 billion as the Federal Government share of the controversial oil subsidy payment for the same fiscal year.

No provision was however made for kerosene subsidy for the year under reference.

Subsidy Reinvestment and Empowerment Programme (SURE-P) will be funded with the sum of N241.51billion under the headline Niger Delta Development Commission (NDDC) Excess Crude Account (ECA) & SURE-P.

But essential requirements to benefit from the social welfare package are evidence of school enrolment and immunization certificate.

This is contained in the 2016- 2017 and 2018 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (PSP) submitted to the Senate for consideration and approval.

The document read and circulated to Senators by Senate President, Abubakar Bukola Saraki is expected to be the basis for the 2016 appropriation estimate for presentation to the National Assembly.

According to the document, the Federal Government will collaborate with state governments to institute well-structured social welfare intervention programmes such as: School feeding programme initiative, conditional cash transfer to the most vulnerable and post-National Youth Service Corps grant.

It said that “N500 billion has been provisioned in the 2016 budget as social investments for these programmes.”

The government said, “These interventions will start as a pilot scheme and work towards securing the support donor agencies and our development partners in order to minimize potential risks.”

Under special intervention including cash transfer, home grown school feeding programme and micro credit loans (SMEs, market women etc) which is also covered by the social intervention programme, the government provided the sum of N300 billion for 2016, N339.05 for 2017 and N338.93 for 2018.

The document put the arrears of 2015 Subsidy on Domestic consumption as N150 billion.

The government had also included the sum of N108 billion as the cost of fuel subsidy to cover October to December 2015 in the recently passed 2015 Supplementary Budget of N521 billion.

In 2015, the SURE-P gulped N0.25 billion for running cost and the sum of N20.78 billion as capital expenditure.

The budget for the Presidential Amnesty Programme was slashed from N47.39 billion in 2015 to N20 billion in 2016.

Provisions were not made for the programme for 2017 and 2018 fiscal years.

Provision was made for Frontier Exploration Services to the sum of N39.88 billion.

The budget of the National Assembly was put at N115 billion for 2016 down from N120 billion for 2015.

The government put the sum of N50 billion under the heading of “recoveries of other misappropriated funds.”

Still on recoveries (refunds/recoveries from Strategic Alliance contracts) N137.90 billion while NNPC/CBN N162.43 billion.

The total under the subhead of recoveries of misappropriated funds is therefore N350.33 billion.

On social development, the government said that job creation and social inclusion are key to the administration’s development programme as a means to reducing the rates of unemployment, poverty and inequality.

It said that a phased social welfare programme will be created to cater for a larger population of the poorest and most vulnerable Nigerians upon the evidence of children’s enrolment in school and evidence of immunization.

The government said that it will, in the near-to-medium-term, continue to prune the size of the federal government and its Ministries, Departments and Agencies (MDA) to more efficient levels without compromising efficiency and effectiveness.

It noted that over the medium-term, however, “government will revisit the need to rationalize the agencies of government and strategically implement relevant provisions.”

On the introduction of Treasury Single Account (TSA) the government said that the multiplicity of government accounts had made it difficult to have an accurate picture of the public financial resources.

“Government has therefore enforced the full implementation of the TSA system. Already, this is facilitating a more effective aggregate management and control of government cash balances, which, hitherto, had been maintained in several bank(s) accounts. Government has similarly enforced the full implementation of the integrated payroll and personnel information system (IPPIS) in all MDAs, which should result in some saving,” the document said.

The government also said that the mounting number of claims for increases in salaries and allowances including pensions and other benefits should be curtailed as part of the efforts at rebalancing the structure of government spending.

The government said that the 2016 budget will be structured to provide a stimulus to reflect the economy by investment in key infrastructure and the development of an inclusive economic recovery.

It said that the country’s Gross Domestic Product (GDP) ratio, which at 12%, is one of the lowest in the world, gives room for the fiscal expansion.

It added however that government will ensure that additional borrowing is kept within prudent limits and channeled towards infrastructure.

To that extent, government said that a budget size of N6.04 trillion is being proposed and federal government’s revenue is projected at N3.82 trillion implying a projected deficit of N2.22 trillion.

It said that the ratio of capital to recurrent expenditure is envisaged to move from the current 16/84 to about 30/70 in 2016.

It said that fiscal deficit is targeted at not more than 2.16% of GDP (about N2.22 trillion in normal terms.)


http://thenationonlineng.net/2016-budget-fg-votes-n500b-for-social-welfare/

Click like if u feel u didnt waste your Vote.

The total under the subhead of recoveries of misappropriated funds is therefore N350.33 billion.


I love this part...

This Government is a Strategist!
Nothing hidden, everything is in the open and transparent. Except Dasuki's trial

The Change is really here!! Recovered funds included..where are the wailers who said the President has been lieing about funds being recovered and secretly returned?Over 300billion stolen money, which is just an icing on the cake..I believe trillions of naira was really embezzled during GEJ's govt. This guys really finished our yams in d barn.

350billion as recovered fund in 2016 Budget. That is very interesting.

Buhari and his team does not make Noise.

While he is Travelling around seeking for investment,Osibanjo and other ministers are busy at home working.


Meanwhile Sambo who served as Vp to GEJ didn't utter upto 5 words when he was VP let alone knowing how to put things together.


What a Govt we had under GEJ!
Its a pity.

I see VP Osibanjo work on this Budget. We really have a nice combination. Buhai for his strong will, passion and integrity. Osibanjo for his economic soundness and passion to perform .

Great.....please where is lalasticlala? The CHANGE is coming now..we can feel the breeze.

Click like if you agree that Senate should approve immediately after lowering their budget from N115bln to N50bln.

How do they intend to fund the N2.2trillion budget deficit?

Nice one!
2016 will mark the beginning of inclusive and sustainable development in Nigeria.
Thank you Nigerians for voting Change.

gradually we are getting there, no more okonjo wuru wuru to the answer.. buhari till 2019... if you support show luv

Imagine Dasuki mismanaged 2.1billion dollars, dats 5years of our social welfare package

I was happy as I was reading this news, but when I saw the source, my joy really subsided. Donno y

I pray God to intervene

Thank God for this new government. No more self acclaimed international paper corrupt driven white paid master's economic management from Madam former minister of finance and economy !!

God pls, count me worthy to enjoy this welfare package

"The total under the subhead of recoveries of misappropriated funds is therefore N350.33 billion."


Can u imagine. ...


GEJ thank u ooo

Golf 4 still available check my profile

I prefer a perceivably slow Government that has a direction than a transformative Government without purpose and bearing. PMB is going to take Nigeria from depravity to a sea of plenty!

GudluckIBB:
Buhari and his team does not make Noise.

While he is Travelling around seeking for invesrment Osibanjo and other ministers are busy at home working.


Meanwhile Sambo who served as Vp to GEJ didn't utter upto 5 words when he was VP let alone knowing how to put things together.


What a Govt we had under GEJ!
Its a pity.

Ah ! 5 words. .bros easy na #Lwkmd

ok

Social welfare negates the federal character principle. If some 50yrs ago provision was made for the forceful representation of all LGC in governance and distribution of wealth by now nobody should be entitled to a helping hand from the FG again. I see it as a second attempt by the FG to dash out monies to almajiri. The almajiris are even opposed to education n economic growth which was the initial excuse used in starting a skewed Federal Character scheme. Buhari should focus on building a strong Nigerian society that allows people express themselves economically instead of supporting them economically.

Mouth action govt. Carry on

....... .. .. .

Lol, how about the dificit from the outgoing year?

ok

This is 4 the vulnerability wailing wailers .

I hope everyone will enjoy the welfare?