President Muhammadu Buhari on Tuesday,
December 22, 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.


Check out a short summary of Nigeria’s
national budget for 2016:

GDP Growth Rate Projection: 4.37%

Revenue Projection: 3.86 trillion 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

The deficit will be financed by a combination
of domestic borrowing of N984 billion, and
foreign borrowing of N900 billion, in total
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%.

Please what's the difference between the allocation to interior and the other allocation to ministry of interior? Pls review and correct the error. Or is the way it appeared in the budget as passed by NASS?