Everything you need to know about the 2018 proposed budget of consolidation

by Ajadi Daniel

2018 proposed budget stands at N8.612 trillion

Capital Expenditure in the 2018 proposed budget is 30.8 percent of the entire budget, it stands at N2.652 trillion, the key capital spending in the budget on sectoral basis are:

  • Power, Works and Housing has the highest capital proposal with N555.88 billion
  • Transportation sector comes second with N263.10 billion
  • Special Intervention programmes has the third highest capital allocation with N150 billion
  • Defence: N145 billion
  • Agriculture and rural development N118.98 billion
  • Water resources: N95.11 billion
  • Industry, Trade and Investment: N82.92 billion
  • Interior: N63.26 billion
  • Universal Basic Education: N109.06 billion
  • Health:N71.11 billion
  • Federal Capital Territory: N40.30 billion
  • Zonal Intervention projects (Constituency projects): 100 billion
  • North East Intervention Fund : N45 billion
  • Niger Delta Ministry: N53.89 billion
  • Niger Delta Development Commission: N71.20 billion

Recurrent Expenditure part of the proposed project is N3.494 trillion, key ministries  at the top here include:

Interior Ministry : N510.87 billion

Ministry of Education: N435.01 Billion

Ministry of Defence: N422.43 billion

Health: N269.34 billion

Other expenditures

Debt service: N2.014 trillion

Statutory Transfers: N456 billion

Sinking Funds (Bonds) N220 billion

 

Assumptions and projections of the 2018 budget

Bench mark crude oil price: US$45 per barrel

Oil production estimate: 2.3 million barrels per day

Exchange rate: N305/US$ for 2018

Real GDP growth of 3.5 percent

Inflation rate of 12.4 percent

Revenue Projections:

Oil revenue: N2.442 trillion Naira

Non-oil revenue: N4.165 trillion

Estimated total revenue for 2018 : 6.607 trillion (about 30% more than the 2017 estimate)

 

17 COMMENTS

  1. You could certainly see your skills in the work you write. The sector hopes for more passionate writers such as you who are not afraid to say how they believe. All the time follow your heart.

  2. I do like the way you have framed this specific situation and it does indeed present me personally some fodder for consideration. Nevertheless, coming from just what I have seen, I simply just wish as other feedback pile on that men and women stay on point and not embark on a tirade associated with the news of the day. All the same, thank you for this excellent point and whilst I can not really concur with the idea in totality, I regard your standpoint.

  3. You really make it seem so easy with your presentation but I find this matter
    to be actually something that I think I would never understand.
    It seems too complex and extremely broad for me. I am looking forward for your next post, I will try to get the hang of it!

  4. I think everything said made a ton of sense.

    But, what about this? suppose you composed a
    catchier title? I ain’t saying your information is not
    good, but what if you added a headline to possibly grab a person’s attention?
    I mean Everything you need to know about the 2018 proposed budget of consolidation –
    YMonitor is kinda boring. You might peek at Yahoo’s front page and note how
    they create news headlines to grab viewers interested.
    You might add a video or a pic or two to grab readers interested about what you’ve written. Just my opinion, it could make your blog a little bit more
    interesting.

  5. Hello! I could have sworn I’ve visited this website before but after browsing through many of
    the posts I realized it’s new to me. Nonetheless, I’m certainly pleased I
    found it and I’ll be bookmarking it and checking back regularly!

  6. Hi, Neat post. There’s an issue along with your website in web explorer, could check this?
    IE nonetheless is the marketplace chief and a good part of other people will leave out your great
    writing because of this problem.

  7. Greetings! I’ve been following your web site for some time now and finally got the bravery to
    go ahead and give you a shout out from Houston Tx!
    Just wanted to tell you keep up the great work!

  8. I blog frequently and I seriously thank you for your information. Your article has truly peaked my interest.
    I’m going to bookmark your blog and keep checking for new information about once a week.
    I subscribed to your RSS feed too.

LEAVE A REPLY

Please enter your comment!
Please enter your name here