President Muhammadu Buhari on Tuesday, presented the N6.08 Trillion 2016 budget to the National Assembly to both the Senate and the House of Representatives.
And now, Channels, is giving us a look at how the budget will be allocated:
The report also notes:
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%.
Photo Credit: Bayo Omoboriowo