Nigeria’s 2016 Budget Breakdown by BudgIT
- The highest Capital Expenditure component of the 2016 budget will be Works, Power and Housing at N433.4bn.
- This budget is the highest budget ever presented by the Federal Government of Nigeria at N6.08tr.
- Oil revenue projections tumble from N1.64tr in 2015 to N820bn in 2016.
- The Federal Government intends to raise N900bn from foreign borrowing, N984bn from domestic borrowing and N380bn from misappropriated funds recovery and others.