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Nairaland Forum / Nairaland / General / Politics / A Breakdown Of Nigeria’s 2016 Budget (70046 Views)
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A Breakdown Of Nigeria’s 2016 Budget by centvin008(m): 5:56pm On Dec 22, 2015 |
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. 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 Note: Deficit will be financed by a combination of domestic borrowing of N984 billion, and foreign borrowing of N900 billion totalling N1.84 trillion. There is a proposed a 9% reduction in non-debt recurrent expenditure, from N2.59 trillion in the 2015 Budget to N2.35 trillion in 2016. The budgeted N300 billion for Special Intervention Programs, takes the total amount for non-debt recurrent expenditure to N2.65 trillion. The Efficiency Unit set up by the current Administration, together with effective implementation of GIFMIS and IPPIS, will drive a reduction of overheads by at least 7%, personnel costs by 8% and other service wide votes by 19%. http://www.channelstv.com/2015/12/22/breakdown-of-nigerias-2016-budget/ Lalasticlala 24 Likes 8 Shares |
Re: A Breakdown Of Nigeria’s 2016 Budget by Clonus: 6:00pm On Dec 22, 2015 |
Good move 10 Likes 2 Shares |
Re: A Breakdown Of Nigeria’s 2016 Budget by vkon2(m): 6:04pm On Dec 22, 2015 |
Hop they still ave in mind the monthly payment of #5k for the graduate every month 74 Likes 2 Shares |
Re: A Breakdown Of Nigeria’s 2016 Budget by baralatie(m): 6:07pm On Dec 22, 2015 |
Let me start! Point 1 "Deficit will be financed by a combination of domestic borrowing of N984 billion, and foreign borrowing of N900 billion totalling N1.84 trillion." Sourced loan #1.84 trillion 16 Likes 3 Shares |
Re: A Breakdown Of Nigeria’s 2016 Budget by baralatie(m): 6:21pm On Dec 22, 2015 |
Point 2- projected revenue "Oil Related Revenues 820 billion Naira Non-oil Revenues 1.45 trillion Naira Projected Independent Revenues 1.51 trillion Naira Revenue =#3.86trillion according to report but use calculator 19 Likes 4 Shares |
Re: A Breakdown Of Nigeria’s 2016 Budget by blazetitov: 6:22pm On Dec 22, 2015 |
That's good. But the implementation of the budget successfully is key! 5 Likes 1 Share |
Re: A Breakdown Of Nigeria’s 2016 Budget by baralatie(m): 6:25pm On Dec 22, 2015 |
Point 3- adjusted budget Borrowed loanloan #1.84 + Revenue . #3.78 Total . #5.62 trilliontrillion and not #6.08trillion 21 Likes 8 Shares |
Re: A Breakdown Of Nigeria’s 2016 Budget by baralatie(m): 6:26pm On Dec 22, 2015 |
I dey come ooooo I am still looking at this budget 3 Likes 3 Shares |
Re: A Breakdown Of Nigeria’s 2016 Budget by redsconsult(m): 6:28pm On Dec 22, 2015 |
more money for education and health serious government that cares for its citizen... 2016 will be better for me, my family, friends and nairalnders IJN. we shall see massive employments in 2016, less wailing wailers in 2016 and more change and converted agents IJN. it will be well with us in 2016..amen 262 Likes 15 Shares |
Re: A Breakdown Of Nigeria’s 2016 Budget by 4Play(m): 6:29pm On Dec 22, 2015 |
baralatie: It's the projected non-oil revenues that I find wildly optimistic. 2016 is only a few weeks away and so far we are not seeing any substantial increase in non-oil revenues which will justify the revenues projection being made for next year. What might save us is a rally in oil prices which could happen next year but that is a big gamble. My view is that this is budget of irresponsibility. 32 Likes 5 Shares |
Re: A Breakdown Of Nigeria’s 2016 Budget by baralatie(m): 6:30pm On Dec 22, 2015 |
Point 4- double post "The budgeted N300 billion for Special Intervention Programs, takes the total amount for non-debt recurrent expenditure to N2.65 trillion. 5 Likes 2 Shares |
Re: A Breakdown Of Nigeria’s 2016 Budget by CyberWolf: 6:33pm On Dec 22, 2015 |
I won't talk till July next year..Just managing my cassava chips biz jejely.. 11 Likes |
Re: A Breakdown Of Nigeria’s 2016 Budget by baralatie(m): 6:35pm On Dec 22, 2015 |
4Play:Non oil revenue and projected non oil revenue is what I am looking at 3 Likes |
Re: A Breakdown Of Nigeria’s 2016 Budget by baralatie(m): 6:38pm On Dec 22, 2015 |
Point 5- subsidy or no subsidy I can't find it.somebody help me find it or say something Lalasticlala and mynd44 must know if it is adjusted in this budget that is #5.62trillion 10 Likes |
Re: A Breakdown Of Nigeria’s 2016 Budget by abduljabbar4(m): 6:38pm On Dec 22, 2015 |
And some people think Buhari is a dullard. This is by far the best bydget ever in Nigeria ZUBY77: The fact that PDP called it a fraud shows that the budget is good 109 Likes 4 Shares |
Re: A Breakdown Of Nigeria’s 2016 Budget by baralatie(m): 6:41pm On Dec 22, 2015 |
abduljabbar4:The budget is #5.62trillion 10 Likes 1 Share |
Re: A Breakdown Of Nigeria’s 2016 Budget by CyberWolf: 6:41pm On Dec 22, 2015 |
abduljabbar4:you are just a sycophant..if I may ask, what makes it the best budget ever in Nigeria? 62 Likes 3 Shares |
Re: A Breakdown Of Nigeria’s 2016 Budget by baralatie(m): 6:45pm On Dec 22, 2015 |
How do we get this correction to PMB about some differences abi it is was typo error. Mods!!! 5 Likes 2 Shares |
Re: A Breakdown Of Nigeria’s 2016 Budget by baralatie(m): 6:58pm On Dec 22, 2015 |
I am still looking at it but a #5.62 trillion is a neutral budget to work with and a bit realistic if the accompanying policies for non oil economic growth are put in place But I am still looking at It 7 Likes 2 Shares |
Re: A Breakdown Of Nigeria’s 2016 Budget by baralatie(m): 7:03pm On Dec 22, 2015 |
Point 6- devaluation of naira and its effect There is no projection about this important little piece 8 Likes 3 Shares |
Re: A Breakdown Of Nigeria’s 2016 Budget by Ask4bigneyo(m): 7:06pm On Dec 22, 2015 |
Space Booked! 16 Likes 3 Shares
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Re: A Breakdown Of Nigeria’s 2016 Budget by ndaman25: 7:06pm On Dec 22, 2015 |
nice one 1 Like 1 Share |
Re: A Breakdown Of Nigeria’s 2016 Budget by Nobody: 7:09pm On Dec 22, 2015 |
![]() ![]() ![]() ![]() No Excuses Please, I plead of you |
Re: A Breakdown Of Nigeria’s 2016 Budget by wethebest(m): 7:09pm On Dec 22, 2015 |
ok |
Re: A Breakdown Of Nigeria’s 2016 Budget by mascot87(m): 7:09pm On Dec 22, 2015 |
Re: A Breakdown Of Nigeria’s 2016 Budget by Joejonah(m): 7:10pm On Dec 22, 2015 |
Unrealistic.... Let them keep building castle in air. Our oil, our money.... Biafra we know. 9 Likes 1 Share |
Re: A Breakdown Of Nigeria’s 2016 Budget by Nobody: 7:10pm On Dec 22, 2015 |
Hope APC will stop the blame game and start work finally !!! Its 7 months already ! 7 Likes 1 Share |
Re: A Breakdown Of Nigeria’s 2016 Budget by Nobody: 7:10pm On Dec 22, 2015 |
Buhari ! Buhari ! Buhari ! How many times I call u ? We don't want any more of promises. 3 Likes |
Re: A Breakdown Of Nigeria’s 2016 Budget by Rikidony(m): 7:11pm On Dec 22, 2015 |
I believe in this government, I believe with time and surport this government will deliver. GOD BLESS THE FEDERAL REPUBLIC OF NIGERIA 17 Likes
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Re: A Breakdown Of Nigeria’s 2016 Budget by luvinhubby(m): 7:11pm On Dec 22, 2015 |
baralatie:That is a crazy borrowing for a country that runs a dwindling single commodity economy like Nigeria and given the fact that oil price has no plans of climbing up in the near future seeing that America has joined the league of oil exporters and Nigeria has no immediate plans of diversifying our economy any time soon. The servicing of such borrowings in the near future will simply destroy Nigeria. APC abeg get sense small. 8 Likes 1 Share |
Re: A Breakdown Of Nigeria’s 2016 Budget by CaroLyner(f): 7:11pm On Dec 22, 2015 |
too bad 1 Like |
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