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A Breakdown Of Nigeria’s 2016 Budget - Politics (3) - Nairaland

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Re: A Breakdown Of Nigeria’s 2016 Budget by Nobody: 7:30pm On Dec 22, 2015
While the prices of crude oil is going down in the international market,as other nations are diversifying from crude oil,buhari has budgeted #37b to source for oil well in the north.Is that not a clueless expenditure?

2 Likes

Re: A Breakdown Of Nigeria’s 2016 Budget by Roks(m): 7:32pm On Dec 22, 2015
I pray the budget get to the masses
Re: A Breakdown Of Nigeria’s 2016 Budget by Paschal55(m): 7:32pm On Dec 22, 2015
FRSUUUUUUUD!!!!!!
Re: A Breakdown Of Nigeria’s 2016 Budget by slimgold123(f): 7:33pm On Dec 22, 2015
Re: A Breakdown Of Nigeria’s 2016 Budget by seggzz(m): 7:33pm On Dec 22, 2015
centvin008:
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

And there is no money? If hear you say no money I can shoot you. The highest ever budget since independent...... I dey laugh ooo.

Budget or no budget, put first the common man in your mind. let the government have postive impart among the masses.
Re: A Breakdown Of Nigeria’s 2016 Budget by ANTONINEUTRON(m): 7:33pm On Dec 22, 2015
ifexy33:
MAKE INSTANT MONEY, BE A BILLIONAIRE UNDER 3DAYS WITHOUT SHADING OF BLOOD OR ANY FORM OF SACRIFICE..... CALL 09056196302 FOR MORE INFORMATION

You Wan Make pesin a billionaire


And people no know you as a billionaire.

.
Re: A Breakdown Of Nigeria’s 2016 Budget by gurunlocker: 7:34pm On Dec 22, 2015
abduljabbar4:
And some people think Buhari is a dullard. This is by far the best bydget ever in Nigeria

guy, for real, do you understand anything in the budget or you just wanna assure us of your stupidity?

3 Likes

Re: A Breakdown Of Nigeria’s 2016 Budget by abduljabbar4(m): 7:35pm On Dec 22, 2015
gurunlocker:


guy, for real, do you understand anything in the budget or you just wanna assure us of your stupidity?

K
Re: A Breakdown Of Nigeria’s 2016 Budget by abduljabbar4(m): 7:35pm On Dec 22, 2015
ZUBY77:


grin grin It seems you are actually the dullard here.

K
Re: A Breakdown Of Nigeria’s 2016 Budget by abduljabbar4(m): 7:36pm On Dec 22, 2015
CyberWolf:
you are just a sycophant..if I may ask, what makes it the best budget ever in Nigeria?

K
Re: A Breakdown Of Nigeria’s 2016 Budget by thunderrider: 7:37pm On Dec 22, 2015
baralatie:
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

I hope we would all take the pain to confirm some of the issues being raised here

1 Like 1 Share

Re: A Breakdown Of Nigeria’s 2016 Budget by Vongsama(m): 7:39pm On Dec 22, 2015
Nawa ooo
Re: A Breakdown Of Nigeria’s 2016 Budget by onipedelekan(m): 7:40pm On Dec 22, 2015
baralatie:
Point 3- adjusted budget
Borrowed loanloan #1.84 +
Revenue . #3.78
Total . #5.62 trilliontrillion and not #6.08trillion


Plus #820billion
Re: A Breakdown Of Nigeria’s 2016 Budget by doctokwus: 7:40pm On Dec 22, 2015
Love Machine:
While the prices of crude oil is going down in the international market,as other nations are diversifying from crude oil,buhari has budgeted #37b to source for oil well in the north.Is that not a clueless expenditure?
Some of u pple are without redemption.
Whenever u pple hear crude exploration the only thing u know is petrol, petrol, petrol!
Where do u think cooking gas comes from, where do u think aviation fuel comes from,where do u think d raw materials for the plastics now dominating the markets come from?
Crude products wud be in demand for the next 100years,the only thing that may decline is petrol demand.

4 Likes

Re: A Breakdown Of Nigeria’s 2016 Budget by FILEBE(m): 7:44pm On Dec 22, 2015
Joejonah:
Unrealistic.... Let them keep building castle in air. Our oil, our money.... Biafra we know.

Get out of here jare! Carry you and your Biafra to anothe planet. Una no dey tire? Rather than find how to solve a problem you want to create another problem you won't be able to solve

3 Likes

Re: A Breakdown Of Nigeria’s 2016 Budget by Xtopher123(m): 7:45pm On Dec 22, 2015
No plans for agriculture?

Hmm
Re: A Breakdown Of Nigeria’s 2016 Budget by divide9ja: 7:45pm On Dec 22, 2015
wetin be "Special Intervention Programs 300 billion Naira"

Na money for North or wetin?

1 Like

Re: A Breakdown Of Nigeria’s 2016 Budget by vizion: 7:46pm On Dec 22, 2015
4Play:


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.

The Federal Inland Revenue Service (FIRS) says it generated N1.97 trillion in revenue in the first half of this year (2015).
http://www.vanguardngr.com/2015/08/firs-realises-n1-97trn-revenue/

See Also
FIRS Generates N4.69tn Revenue in 2014

The report also indicated that N2.45 trillion, representing 52.96 per cent, was collected from petroleum profit tax while N2.24 trillion, representing 47.04 per cent, was collected from non-oil taxes during the period.

http://www.thisdaylive.com/articles/firs-generates-n4-69tn-revenue-in-2014/200484/
Re: A Breakdown Of Nigeria’s 2016 Budget by Nobody: 7:48pm On Dec 22, 2015
doctokwus:

Some of u pple are without redemption.
Whenever u pple hear crude exploration the only thing u know is petrol, petrol, petrol!
Where do u think cooking gas comes from, where do u think aviation fuel comes from,where do u think d raw materials for the plastics now dominating the markets come from?
Crude products wud be in demand for the next 100years,the only thing that may decline is petrol demand.
But the price and demand is going down in the international market.
Re: A Breakdown Of Nigeria’s 2016 Budget by Nellybii: 7:48pm On Dec 22, 2015
Joejonah:
Unrealistic.... Let them keep building castle in air. Our oil, our money.... Biafra we know.

Oleeee,
Biafra get oil
Na waa oooo!!
IPOD miscreants deceiving themselves since 1865AD

3 Likes

Re: A Breakdown Of Nigeria’s 2016 Budget by Nobody: 7:49pm On Dec 22, 2015
WTF! Are we in military regime?
Re: A Breakdown Of Nigeria’s 2016 Budget by FILEBE(m): 7:51pm On Dec 22, 2015
Joejonah:
Unrealistic.... Let them keep building castle in air. Our oil, our money.... Biafra we know.
Re: A Breakdown Of Nigeria’s 2016 Budget by Pidggin(f): 7:52pm On Dec 22, 2015
Over 1 trillion borrowed to fund our budget?

This country is finished

1 Like

Re: A Breakdown Of Nigeria’s 2016 Budget by AmeLonRo(m): 7:53pm On Dec 22, 2015
If you know what domestic borrowing mean you will position yourself to benefit in 2016! Instead of criticizing and condemning. Position yourself to take your share legally. can someone give me ideas of how?

2 Likes

Re: A Breakdown Of Nigeria’s 2016 Budget by mekaboy(m): 7:55pm On Dec 22, 2015
4Play:


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.

Non oil revenue might be aimed at unbearable increase in taxation.
Re: A Breakdown Of Nigeria’s 2016 Budget by Bitterleafsoup: 7:57pm On Dec 22, 2015
CyberWolf:
you are just a sycophant..if I may ask, what makes it the best budget ever in Nigeria?
I was just going to ask him the same question ZOMBIES! Chai!!
Re: A Breakdown Of Nigeria’s 2016 Budget by Danny1974: 7:57pm On Dec 22, 2015
Budget when presented like this always looks promising but implementation is always below 50"%. Make we the look
Re: A Breakdown Of Nigeria’s 2016 Budget by rusher14: 7:58pm On Dec 22, 2015
Paschal55:
FRSUUUUUUUD!!!!!!

Oh boy!
lipsrsealed
Re: A Breakdown Of Nigeria’s 2016 Budget by DzTzl(f): 8:00pm On Dec 22, 2015
ifexy33:
MAKE INSTANT MONEY, BE A BILLIONAIRE UNDER 3DAYS WITHOUT SHADING OF BLOOD OR ANY FORM OF SACRIFICE..... CALL 09056196302 FOR MORE INFORMATION
take ur scheming scam elsewhere, Nigerians are wiser! No b only "Shading of blood"
Re: A Breakdown Of Nigeria’s 2016 Budget by bewla(m): 8:01pm On Dec 22, 2015
baralatie:
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
what will u get

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