President Buhari presents 2017 Budget to the National Assembly

President Buhari presents 2017 Budget to the National Assembly

- in Politics

President Buhari, today, presented N7.298 trillion to the National Assembly. Here are some quick facts. 

Capital expenditure to take 30% of the budget. FG proposed to spend about N2.243 trillion on capital projects and N2.9 trillion as recurrent expenditure.

The Benchmark Exchange Rate: N305/$1, Benchmark Oil Price: $42.5/barrel, Oil Production Benchmark: 2.2m bpd. Capital expenditure for power, works and housing N529bn.

capital expenditure for water- 85 billion

capital expenditure for education- 58 billion

health – 51 billion

Niger Delta – N33bn

industry- 81 billion

Transportation – N262bn

defense – 140 million

N100 billion allocated to judiciary

Interior N63bn; UBE commission N92bn; FCT N37bn; Allocation to Presidential Amnesty Programme increased to N65 Billion. 

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Top Recurrent Expenditure: 

Interior – N482bn 

Education – N398bn 

Defence – N325bn

Health – N252bn

Estimated aggregate revenue for 2017- 4.94 trillion. Projected oil revenue N1.985 trillion

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