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Breakdown of 2017 budget presented by Buhari

2017 budget buhari - Breakdown of 2017 budget presented by Buhari

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Breakdown of 2017 budget presented by Buhari

Below is a very simple breakdown of the 2017 budget presented by president Muhammadu Buhari at the house of assembly on Wednesday afternoon.

BUDGET BREAKDOWN

Oil : N1.985tn

Non-oil: N1.73tn

Independent: N807bn

Recoveries: N565bn

Other Sources: N210.9bn

Statutory Transfers: N419bn –

Debt Service: N1.66tn

Non-Debt Recurrent Expenditure: N2.9tn

Capital Expenditure: N2.24tn

Capital provisions: N2.24tn

Capital expenditure allocation

Defence: N140bn

Water resouces: N85bn

Interior: N63bn

Education: N58bn

UBE commission: N92bn

FCT: N37bn

Top Recurrent Expenditure

Interior – N482bn

Education – N398bn

Defence – N325bn

Health – N252bn

Meanwhile, while speaking at the house of assembly, the president stated that there will be nothing like budget padding. He severely condemned what he called the infusion of rogue projects and bogus figures into the budget, saying that it was unfair to Nigerians and dangerous to the economy.

The government will also review the current joint venture arrangements with oil companies. This was made public by the Minister of Budget and National Planning, Udoma Udoma at the Senate joint committee on appropriation and finance where he defended the revised Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP).

He added that the FG will mount pressure on all generating agencies to surpass all expected targets. He said the government was targeting N10 trillion in oil revenues in 2017.

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