Key Highlights on 2018 Budget of Nigeria

in finance •  last year  (edited)

Nigeria Federal Budget 2018

IMG-20180807-WA0000.jpg

*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.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Congratulations @boynat! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 1 year!

Click here to view your Board

Support SteemitBoard's project! Vote for its witness and get one more award!