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Breakdown Of 2018 Budget Estimates Presented By President Buhari by Allwellokpi(m): 10:53pm On Nov 07, 2017 |
Breakdown of 2018 Budget estimates presented by President Buhari Budget size: N8.612tn (16 % higher than 2017 estimates) Assumptions, projections ================== • Benchmark crude oil price-US$45 per barrel • Oil production estimate – 2.3 million barrels per day • Exchange rate – N305/US$ for 2018 • Real GDP growth of 3.5 per cent • Inflation Rate of 12.4 per cent Expenditure Estimates ================ The proposed aggregate expenditure of N 8.612 trillion (16 per cent above 2017 budget estimate) will comprise • Recurrent Costs of N3.494 trillion • Debt Service of N2.014 trillion • Statutory Transfers of about N456 billion • Sinking Fund of N220 billion (to retire maturing bond to local contractors) • Capital Expenditure of N2.428 trillion (excluding the capital component of statutory transfers). Recurrent Expenditure ================= A substantial part of the recurrent cost proposal for 2018 is for the payment of salaries and overheads in key ministries providing critical public services such as: • N510.87 billion for Interior • N435.01 billion for Education • N422.43 billion for Defence • N269.34 billion for Health Capital Expenditure =============== Key capital spending allocations in the 2018 Budget include: • Power, Works and Housing: N555.88 billion • Transportation: N263.10 billion • Special Intervention Programmes: N150.00 billion • Defence: N145.00 billion • Agriculture and Rural Development N118.98 billion • Water Resources: N95.11 billion • Industry, Trade and Investment: N82.92 billion • Interior: N63.26 billion • Education N61.73 billion • Universal Basic Education Commission: N109.06 billion • Health: N71.11 billion • Federal Capital Territory: N40.30 billion • Zonal Intervention Projects N100.00 billion • North East Intervention Fund N45.00 billion • Niger Delta Ministry: N53.89 billion • Niger Delta Development Commission: N71.20 billion. READ MORE https://thoughtleaders.ng/breakdown-of-2018-budget-estimates-presented-by-president-buhari/ |
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