EXCLUSIVE: The Breakdown And Details Of The 2018 Budget Of Consolidation, As Presented By President Muhammadu Buhari

Sponsored Links

The followings are Post-Nigeria’s breakdown of the 2018 Budget, as presented by President Muhammadu Buhari, on Tuesday, November, 7, 2017.

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 percent
• Inflation Rate of 12.4 percent

Expenditure Estimates:

The proposed aggregate expenditure of N 8.612 trillion (16 percent 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
funding
• 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.

Follow Us on Twitter!

Like Us on Facebook!
Do You Need a Sugar Mummy, Sugar Daddy, Girlfriend, Boyfriend Wife or Husband? If Yes, Then Click Here For Details

END TIME: See Fake Vag!na Women Now Wear (Don’t Open Photos If You Are Not Above 18)	New Photos shows Condom and Alcohol inside the Car of the married Lovers who were found dead in Ogba
On this ‘Photo of a Man who had his hands and legs switched’, here is the True Story	See How Ooni Of Ife Finaly Punished Oba Of Lagos For Snubbing Him In Public
BREAKING!! Deep Mourning Hit Aso Rock, See Who Just Passed On There Now	Here Are Five Things You Should Not Post On Social Media So As To Avoid Being Kidnapped, Experts Warn The People Of Nigeria