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Tuesday, 4 October 2016

6.8trillion naira for 2017 budget .

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His Excellency muhanmmadu Buhari have revealed out the 2017 budget to spend about #6.8trillion ,including in it debt services of #1.6 trillion .
This was read out on flour during plenary on Tuesday.

In Accordance with MTEF( Medium Term expenditure )
Crude oil which has fallen to $42.50 per barrel on which 2.2million dollar is been sold out a day with an exchange rate of #290 per dollar
#65 billion have been budgeted out for Amnetsy unlike 20 billion which was budgeted in 2016.
While #350 billion will be spent on intervention programmes in 2017 to compare to 300billion of earmarked 2016.

“Provision in the MTEF are drawn‎ from the government’s development priorities over the medium term, and more specifically, driven by its fiscal strategy and reflect the broad aggregates of the government’s annual budget over the period.

“The aggregates revenue to the fund the 2017 Budget is projected to increase over the 2016 estimates of N3.855 trillion by about 8 percent (or about N313 billion). 33 percent of this is to come from oil sources while the balance is derivable from non-oil sources – in consonance with the government renewed focus on diversification of its revenue base.

“The planned aggregates expenditure is estimated to exceed the provision of N6.6 trillion in the 2016 budget by 13.3 percent (or about N806 billion).

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