Comprehensive Breakdown Of Nigeria's 2016 N6.08 Trillion Budget

Channels TV has provided a comprehensive break down of the N6.08 trillion 2016 budget .President Muhammadu Buhari on Tuesday (Dec. 22nd ) presented the N6.08 Trillion 2016 budget to the National Assembly to both the Senate and the House of Representatives.

Here is a breakdown of the budget.

The report also states:

Deficit will be financed by a combination of domestic borrowing of N984 billion, and foreign borrowing of N900 billion totalling N1.84 trillion.

There is a proposed a 9% reduction in non-debt recurrent expenditure, from N2.59 trillion in the 2015 Budget to N2.35 trillion in 2016.

The budgeted N300 billion for Special Intervention Programs, takes the total amount for non-debt recurrent expenditure to N2.65 trillion.

The Efficiency Unit set up by the current Administration, together with effective implementation of GIFMIS and IPPIS, will drive a reduction of overheads by at least 7%, personnel costs by 8% and other service wide votes by 19%.