8 things about buhari 2016 budget

.
President Muhammadu Buhari’s
proposed national budget for next year
is significantly higher than that of the
previous administration with some
special features.
2015 is almost over, in no time the
government is expected to present its
2016 budget to the National
Assembly.
Below are the highlight of Nigeria’s
proposed national budget for next year:
1. The entire budget is pegged at
N6.04 trillion.
2. Proposed government revenue is
N3.82 trillion, projected deficit is
N2.22 trillion.
3. N63.29bn has been allocated for
fuel subsidy in the 2016 fiscal year.
4. N500 billion is budgeted for Social
Welfare Intervention Programmes
Initiative, conditional cash transfer
to the most vulnerable and post-
NYSC grant.
5. According to the government,
N350.33 billion misappropriated
funds will be recovered in 2016 to
help fund the budget.
6. 2016 Budget is the most expensive
ever proposed by any government.
7. Oil Price benchmark for 2016 is
set at $38/bbl.
8. Only 30% of the budget will be
spent on capital projects.