President Muhammadu Buhari has at long last marked 2016 Allocation Bill into law, making it viably a Demonstration of the National Gathering. The N6.06 trillion 2016 spending plan was marked on Friday, finishing weeks of conflict with the National Gathering.
The National Get together passed the financial backing on Walk 23, however the president withheld his consent and gave back the record.
The Administration said the legislators included new activities and evacuated basic things proposed by the organization. The two arms accommodated questionable figures, and transmitted a perfect duplicate of the monetary allowance to the president on Thursday.
Here are highlights of the budget as passed by the National Assembly:Aggregate expenditure — N6, 060,677,358,227
Statutory transfers – N351, 370,000,000
Debt service – N1, 475,320,000,000
Recurrent expenditure – N2, 646,389,236,196
Capital expenditure – N1, 587,598,122,031
Fiscal deficit – N2, 204,936,925,711.16
Deficit/GDP – 2.14 per cent
The parameters proposed by Mr. Buhari were retained.
Oil price benchmark and crude oil production were left at US38 per barrel and 2.2000mbpd respectively.
Similarly, the exchange was left at N197/USD1.
Tagged “Budget of Change”, Mr. Buhari presented the 2016 Appropriation Bill to joint session of the National Assembly last December, proposing N6.08 trillion as aggregate expenditure, before it was reduced by the lawmakers to N6.06 trillion.
Statutory transfers – N351, 370,000,000
Debt service – N1, 475,320,000,000
Recurrent expenditure – N2, 646,389,236,196
Capital expenditure – N1, 587,598,122,031
Fiscal deficit – N2, 204,936,925,711.16
Deficit/GDP – 2.14 per cent
The parameters proposed by Mr. Buhari were retained.
Oil price benchmark and crude oil production were left at US38 per barrel and 2.2000mbpd respectively.
Similarly, the exchange was left at N197/USD1.
Tagged “Budget of Change”, Mr. Buhari presented the 2016 Appropriation Bill to joint session of the National Assembly last December, proposing N6.08 trillion as aggregate expenditure, before it was reduced by the lawmakers to N6.06 trillion.