President
Muhammadu Buhari on Tuesday December 22 presented the 2016 budget to a joint
session of the National Assembly.
According
to the Budget Office, headed by Aliyu Yahaya Gusau, the Appropriation Bill
2016, seeks to authorise the issue from the Consolidated Revenue Fund of the
Federation the total sum of N6,077,680,000,000.
Of the
figure, N351,370,000,000 is for Statutory Transfers, N1,475,320,000,000 is
for Debt Service, N2,648,600,000,000 is for Recurrent (Non-Debt) Expenditure.
The sum
of N1,845,540,000,000 inclusive of N157,150,000,000 Capital Expenditure in
Statutory Transfers and N86,000,000,000 as Interest on Capitalised Loans, is
for contribution to the Development Fund for Capital Expenditure for the year
ending on the 31st day of December, 2016.
Below is
the breakdown of the proposed budget currently with the federal legislature for
deliberation and approval.
WARNING:
Before you embark on viewing this new governments budget for the year 2016,
i'll like to state a few things RED means danger & BLUE means hope to the
highlighted areas, how you choose to relate to them is a function of where you
belong to in the society.. the writer is a student!
