Breaking News

The 2018 Nigerian budget at a glance

Budget size: N8.612 trillion (16 % higher than 2017 estimates)
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.
Key projects and programmes to be implemented in 2018:
N9.8 billion for the Mambilla hydro power project, including N8.5 billion as counterpart

N12 billion counterpart funding for earmarked transmission lines and substations
N35.41 billion for the National Housing Programme
N10.00 billion for the 2nd Niger Bridge
About N300 billion for the construction and rehabilitation of strategic roads
Regional Spending Priorities for Peace, Security and Development
N65 billion for the Presidential Amnesty Programme has been retained in the 2018 Budget
Capital provision for the Ministry of Niger Delta increased to N53.89 billion from the N34.20 billion provided in 2017
Completion of East-West Road, with a provision of about N17.32 billion in 2018

No comments

Drop Your comment here