Buhari, today, presented a budget of N7.298 trillion to the National Assembly. Here are some of the things you need to know about this budget that will bring the nation out of recession according to President Buhari.
Capital expenditure to take 30% of the budget. The Federal
government has proposed to spend about N2.243 trillion on capital
projects and N2.9 trillion as recurrent expenditure.
Benchmark Exchange Rate: N305/$1, Benchmark Oil Price: $42.5/barrel, Oil
Production Benchmark: 2.2m bpd. Capital expenditure for power, works
and housing N529bn.
Capital expenditure for water- 85 billion
Capital expenditure for education- 58 billion
Health - 51 billion
Niger Delta - N33bn
Industry- 81 billion
Transportation - N262bn
Defense - 140 million
N100 billion allocated to judiciary
UBE commission N92bn;
Allocation to Presidential Amnesty Program increased to N65 Billion.
Top Recurrent Expenditure:
Interior - N482bn
Education - N398bn
Health - N252bn
Estimated aggregate revenue for 2017- 4.94 trillion. Projected oil revenue N1.985 trillion
Well, we hope this takes the country out of the recession woods.
Wednesday, December 14, 2016
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