Key Highlights on 2018 Budget of Nigeria

in finance •  last year  (edited)

Nigeria Federal Budget 2018


*Signed mid-year, June 21st, 2018.

*Has a total value of N9,120 billion which is about 23.6% increase from 2017 Budget.

*Recurrent (non-debt) spending = N3.51 trillion

*Capital expenditure (excluding transfers) = N2.87 trillion.

*Capital spending is 31.5% of total FGN expenditure in 2018.

*Debt service = N2.01 trillion

*Provision to retire maturing bond to local contractors = N190billion.

*Overall budget deficit = N1.950 trillion (whichin represents 1.74% of GDP).

*Budget deficit is to be financed mainly by borrowing N1.643 trillion via domestic sources up to N793 billion and foreign sources up to N849 billion.

*A total of N306 billion is expected from privatization proceeds and N5 billion from
sale of other government property to part finance the deficit.

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