₦airaland Forum

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

Good move

Hop they still ave in mind the monthly payment of #5k for the graduate every month

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

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

That's good. But the implementation of the budget successfully is key!

Point 3- adjusted budget
Borrowed loanloan #1.84 +
Revenue . #3.78
Total . #5.62 trilliontrillion and not #6.08trillion

I dey come ooooo
I am still looking at this budget

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

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

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.

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.

I won't talk till July next year..Just managing my cassava chips biz jejely..

4Play:
It's the projected non-oil revenues that I find widely 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 and projected non oil revenue is what I am looking at

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

And some people think Buhari is a dullard. This is by far the best bydget ever in Nigeria

ZUBY77:
It seems you are actually the dullard here.

The fact that PDP called it a fraud shows that the budget is good

abduljabbar4:
And some people think Buhari is a dullard. This is by far the best bydget ever in Nigeria

The budget is #5.62trillion

abduljabbar4:
And some people think Buhari is a dullard. This is by far the best bydget ever in Nigeria

you are just a sycophant..if I may ask, what makes it the best budget ever in Nigeria?

How do we get this correction to PMB about some differences abi it is was typo error.
Mods!!!

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

Point 6- devaluation of naira and its effect
There is no projection about this important little piece

Space Booked!

nice one

No Excuses Please, I plead of you

ok

Unrealistic.... Let them keep building castle in air. Our oil, our money.... Biafra we know.

Hope APC will stop the blame game and start work finally !!!

Its 7 months already !

Buhari ! Buhari ! Buhari ! How many times I call u ? We don't want any more of promises.

I believe in this government, I believe with time and surport this government will deliver.


GOD BLESS THE FEDERAL REPUBLIC OF NIGERIA

baralatie:
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

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.

too bad