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.
According to Daily Post, 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.
Nigeria Budget for 2016 from President Muhammadu Buhari
Check below to access full breakdown of the proposed budget currently with the federal legislature for deliberation and approval.
- Click here to Download of open 2016 Budget for Nigeria
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