Infrastructure, Defence get bulk of Buhari’s N8.6 trillion budget

President Muhammadu Buhari (R) presenting the 2018 Appropriation Bill before the Joint Session of the National Assembly in Abuja on Tuesday (7/11/17) With him is Senior Special Assistant to the President on National Assembly Matters, (Senate) Sen. Ita Enang (L) and Senior Special Assistant to the President on National Assembly Matters, (House of Represenatives) Rep. Suleiman Kawu 05939//7/11/2017/Callistus Ewelike/BJO/NAN
President Muhammadu Buhari (R) presenting the 2018 Appropriation Bill before the Joint Session of the National Assembly in Abuja on Tuesday (7/11/17) With him is Senior Special Assistant to the President on National Assembly Matters, (Senate) Sen. Ita Enang (L) and Senior Special Assistant to the President on National Assembly Matters, (House of Represenatives) Rep. Suleiman Kawu 05939//7/11/2017/Callistus Ewelike/BJO/NAN

Infrastructure, represented by the Ministry of Power, Works and Housing and Ministry of Transportation, and Defence, will take the bulk of federal capital spending in 2018, according to a proposal submitted by President Muhammadu Buhari to the National Assembly Tuesday.

The three ministries will get money more than the 12 other sectors combined.

Dubbed the ‘Budget of Consolidation,’ President Buhari said the budget would consolidate on the achievements of previous budgets and deliver on Nigeria’s Economic Recovery and Growth Plan (ERGP) 2018 – 2020.

Giving a further breakdown of the budget, Mr Buhari said that 30.8 percent (or N2.652 trillion) of the budget will be allocated to capital expenditure while N3.494 trillion is budgeted for recurrent expenditure.

Details of the budget proposal revealed that the Power, Works and Housing has the highest capital project proposal with N555.88 billion.

The president listed some projects which will be executed under this sector in 2018 to include the Mambilla hydro power project and the National Housing Programme.

Transportation sector comes second with a projected allocation of N263.10 billion for capital projects.

Specifically, N12 billion counterpart funding is earmarked for transmission lines and substations, N10.00 billion for the 2nd Niger Bridge; and N300 billion for the construction and rehabilitation of the strategic roads.

The third sector to attract most in capital expenditure proposal is Special Intervention Programmes with N150.00 billion and Defence, fourth with N145.00 billion.

Other sectors are Agriculture and Rural Development, N118.98 billion; Water Resources: N95.11 billion; Industry, Trade and Investment, N82.92 billion; Interior: N63.26 billion; Education N61.73 billion; Universal Basic Education Commission, N109.06 billion; Health, N71.11 billion; Federal Capital Territory, N40.30 billion; Zonal Intervention Projects, N100.00 billion; North East Intervention Fund, N45.00 billion; Niger Delta Ministry, N53.89 billion; and Niger Delta Development Commission, N71.20 billion.

Details of the budget proposal revealed that a significant increase is being projected in the revenue accruable from the oil and non-oil sectors.

“Based on the above fiscal assumptions and parameters, total federally-collectible revenue is estimated at 11.983 trillion Naira in 2018. Thus, the three tiers of Government shall receive about 12 percent more revenues in 2018 than the 2017 estimate.

“Of the amount, the sum of 6.387 trillion Naira is expected to be realised from oil and gas sources. Total receipts from the non-oil sector are projected at 5.597 trillion Naira.

“The Federal Government’s estimated total revenue is 6.607 trillion Naira in 2018, which is about 30 percent more than the 2017 target. As we pursue our goal of revenue diversification, non-oil revenues will become a larger share of total revenues. In 2018, we project oil revenues of 2.442 trillion Naira, and non-oil as well as other revenues of 4.165 trillion Naira.

“Non-oil and other revenue sources of 4.165 trillion Naira, include several items including: Share of Companies Income Tax (CIT) of 794.7 billion Naira, share of Value Added Tax (VAT) of 207.9 billion Naira, Customs & Excise Receipts of 324.9 billion Naira, FGN Independently Generated Revenues (IGR) of 847.9 billion Naira, FGN’s Share of Tax Amnesty Income of 87.8 billion Naira, and various recoveries of 512.4 billion Naira, 710 billion Naira as proceeds from the restructuring of government’s equity in Joint Ventures and other sundry incomes of 678.4 billion Naira.”


DOWNLOAD THE PREMIUM TIMES MOBILE APP

Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD:DIABETES Is CURABLE! Don't Let It Threaten You! To NORMALIZE Your Blood Sugar In 21Days For Life, Click Here!!!.


All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.


  • marcos avelino

    Nigerian Budgets are all hot air with no substance , hardly is 20 percent of the capital budget ever archived its only the personnel salary band that gets paid. With a seventy to thirty percent recurrent/capital ratio this means in real terms only 20 percent of thirty percent gets allocated to capital projects – thats a paltry 6 percent of the total budget is actually spent on infrastructure. No wonder it takes eternity to complete any major project. A case is the Abuja Lokoja express way still not completed from around 2005 to 2017 !!! a distance of less than 200 km

  • emmanuel

    Nigeria ia country that only exist on papers like this budget. Not upto thirty percent of the budgets have been implemented in three years.
    Why do we pretend to be civilised by preparing a budget when we do not know what it is?

  • FreeNigeria

    N8.6 trillion for the pocket of few individuals

    • victoria

      The money they will use for campaign

      • pambegua

        Money doesn’t win elections this days because IF money wins elections PMB(APC) wouldn’t have won GEJ(PDP). PDP in 2014 had the MONEY N POWER but still loose to poor PMB

  • Stella Dominic

    BUY A BAG OF DANGOT£ CEM£NT NOW AT A FACTORY PRICE OF #12OO .CONTACT
    Balogun Mark ON O8142739358 FOR INQUIRY AND TO PLACE YOUR ORDER…

  • Stella Dominic

    BUY A BAG OF DANGOT£ CEM£NT NOW AT A FACTORY PRICE OF #12OO .CONTACT
    Balogun Mark ON O8142739358 TO PLACE YOUR ORDER

  • DELTAN

    …and as usual there is no mention of the Niger Delta and clean up of the ecological catastrophe occasioned by the irresponsible so called foreign oil companies aka environmental terrorists. No mention of Maritime University take off, and no special mention of the Delta and wealth owners who continue to sacrifice its ALL for Nigeria at the expense of its ecosystem. This is why the action of the AVENGERS to resume attacks and bring oil production to zero is highly welcome and long overdue.

    • Jon

      Budget for Hausa/Fulani and their military. That is all to it.

      • PolyGon2013

        Yep, all the money for infrastructures will only be used in the North! Use your head for once.

        • Truthometer

          Which head now? Pepeye head? I beg say something else!

    • PolyGon2013

      There is already money for it. So, relax. We will fix ND.

  • ???????¾

    @disqus_espFyM0fdP:disqus

    Muhamadu Buhari: Question arising

    How can Muhamadu Buhari who’d said three years ago at the Kano stadium,
    openly, that General Sani Abacha did not steal anything whatsoever be expected
    to still know the meaning of ‘corruption’ or even to fight it; or, how could such a
    morally dissolute Muhamadu Buhari now be expected to sign a letter asking for
    funds repatriation to the government of Jersey which has just said it has $300
    million of Abacha loot seized in its own territory, if the same Muhamadu Buhari
    does not know the difference between right and wrong to be trusted with eight
    (8) trillion Naira national of budget; without any fear of waste and theft?

  • Lanre

    So Maina has been swept under the carpet as usual. Meanwhile, the budget is not any different from what I read in 1984. Nigeria is still budgeting for Electricity Power Plants and construction of Strategic Roads. In 2018, we still cannot figure out how to generate electricity a simple task achieved by any serious country world wide. Meanwhile, Dambazau is still in charge of Interior Ministry with all the scandals and close to 64billion Naira of Taxpayers Funds to spend.

    P.S.
    For comparative purposes, New York City (not New York State) with a population of 8.6 million has a budget of $86b. Nigeria with a population of 180million just proposed a budget of less than $30b. Yet the National Assembly members earn more than the Mayor of New York. The President of Nigeria spends hard earned tax payer income to take care of himself in London while the Mayor of New York is not known to travel overseas to seek medical treatment. Ofcourse, Buhari limited by his intelligence and exposure could not use this opportunity to present a budget that will locate the best medical facility you can find anywhere in Nigeria. That is patriotism and pride – Nigerian style.

  • Mizch

    CONSOLIDATION OF CORRUPTION. Where is the 2017 budget? Executed by Aso Rock Rodents.

  • Arabakpura

    Was there any conscious effort at healthcare? Or, is he planning to return to London?

  • TAWANDA INCOMMUNICADO

    Since more than 70% of the capital projects are slated for northern Nigeria, it is a budget of bigotry and exclusion. There is absolutely nothing to consolidate upon except lies and propaganda.

    BUHARI HAS QUESTIONS TO ANSWER ABOUT MAINA-GATE CORRUPTION SCANDAL, HE MUST NOT TRY TO DODGE IT BECAUSE IT WILL CONTINUE TO HANG OVER HIM LIKE A GHOST.

    • KELLOGGS

      AND THE MASSACRES OF SHIITES AND IPOB, NNAMDI KALU AND HIS FAMILY….

  • Okokondem

    Expect no meaningful, positive change in the Nigeria until average Nigerians reject governance of business as usual. Someone aptly pointed out in a post here that this budget is similar to, and no different from others going back 40 years, where roads and electricity are purported to be major beneficiaries only on paper.

    • Econometrica

      @disqus_bKK8FWRn9V:disqus

      No policy initiative whatsoever is contained
      in Muhamadu Buhari’s budget of reckless expenditure possibly
      disguising personal interest wrapped in a foil to conceal stealing intent. Muhamadu
      Buhari is not a force of good. He has no plans or cues. He drifts any which way
      without a map, like a total misfit in a job above his head. Anyone seriously
      thinking of the repairs and restart of Nigeria as a proper country guided by
      law and knowledge for public order cannot be thinking of a Hausa/Fulani tribalist
      or Islamist nepotist like Muhamadu Buhari who has neither the knowledge nor
      the gumption to make a difference to Nigeria in distress. To repeal and replace
      Muhamadu Buhari should be a national priority if Nigerians know what is good
      for them because Buhari does not have what it takes to govern any country in
      the world.

  • Netanyahu

    Defense 145 billion, Education 61.73 billion, representing 42.27% of that of Defense. This has been the pattern with awusa/foolani (boko haram) govts since 1970. No wonder our education system is the worst in sub-Saharan Africa. Again, what is the difference between this and 2017? Bismark Rewane explained last night that there is actually no increase in the budget when compared with 2017 as 15.7% inflation eroded the so called increase.

  • Tha HU

    I am glad that Agriculture got over 100 billion, but I would like to know what programmes they have in place.

  • Fada4Life

    After payments of salaries and other allowance what will remain for research and development in our education sector, PMB need to adjust for the better. ……. no nation can develop without meaningful research work from their education sector