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Dec 23rd 2015, 20:31
Channels TV has provided a comprehensive break down of the N6.08 trillion 2016 budget .President Muhammadu Buhari on Tuesday (Dec. 23rd ) 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 alsostates:
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%.
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Source : http://www.coolnsmart.com/wise_quotes/
Source : http://www.coolnsmart.com/wise_quotes/
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