Breakdown of the 2016 Budget

Budget 2016

GDP Growth Rate Projection4.37%
Revenue Projection3.86 Naira
Deficit2.22 trillion Naira (equivalent to 2.16% of Nigeria’s GDP)
Oil Related Revenues820 billion Naira
Non-oil Revenues1.45 trillion Naira
 Projected Independent Revenues1.51 trillion Naira
Capital Expenditure1.8 trillion Naira (30%  of total budget)
Works, Power and Housing433.4 billion Naira
Transport202.0 billion Naira
Interior53.1 billion Naira
Special Intervention Programs300 billion Naira
Education369.6 billion Naira
Defence294.5 billion Naira
Health221.7 billion Naira
Ministry of Interior145.3 billion Naira
Foreign and Domestic Debt Service1.36 trillion Naira
Sinking Fund towards the retirement of maturing loans113 billion Naira
Non-debt Recurrent Expenditure2.65 trillion Naira
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