FG Gives Breakdown Of 2016 'Budget Of Change'

FG Gives Breakdown Of 2016 'Budget Of Change'

The Minister of Budget and National Planning, Senator Udo Udoma has given the breakdown of the 2016 controversial budget and announced that capital expenditure will be released starting from Friday, May 13 in order for the budget to be implemented.

He also said there were plans by the Federal Government to ensure that the 2017 budget is passed before December 31st.

Below are the tweets from the twitter handle of the Ministry of National Planning:

The 2016 Budget of Change has been designed to actively purse macroeconomic policies and growth strategies-Sen. Udoma Udo Udoma

— National Planning NG (@PlanningNG) May 12, 2016

#BudgetNG2016: The 2016 Budget is anchored on six pillars namely Economic Reforms, Infrastructure, Social Development- Sen. Udo Udoma (1)

— National Planning NG (@PlanningNG) May 12, 2016

#BudgetNG2016: ... Governance and Security, Environment, and States/Regional development - Sen. Udoma, (2)

— National Planning NG (@PlanningNG) May 12, 2016

#BudgetNG2016: The 2016 Budget was guided by the 2016-2018 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy paper - Udo Udoma

— National Planning NG (@PlanningNG) May 12, 2016

#BudgetNG2016: The key objectives of 2016 Budget include ensuring a stable macroeconomic environment for real sector development - Udo Udoma

— National Planning NG (@PlanningNG) May 12, 2016

#BudgetNG2016: ...policy actions that will facilitate accelerated growth and sustainable development of the country - Udo Udoma,

— National Planning NG (@PlanningNG) May 12, 2016

#BudgetNG2016: 2016 Budget of Change is underpined by the following key assumptions: Oil production of 2.2 million barrels - Udo Udoma

— National Planning NG (@PlanningNG) May 12, 2016

#BudgetNG2016: ... Benchmark oil price of $38 per barrel, Average Exchange Rate of N197 per Dollar - Udo Udoma

— National Planning NG (@PlanningNG) May 12, 2016

#BudgetNG2016: 2016 Budget envisages net distributable revenue of N5.72 trillion comprising Main Federation Account Revenue of N4.303 -Udoma

— National Planning NG (@PlanningNG) May 12, 2016

#BudgetNG2016: ... and N1.416 trillion from VAT Pool Account. Of the distributable revenue, net oil receipts amount to N1.48 trillion- Udoma

— National Planning NG (@PlanningNG) May 12, 2016

States and LGs share of distributable pool amount to N3.24 trillion, while Federal Govt. will receive N2.48 trillion -Udoma #BudgetNG2016

— National Planning NG (@PlanningNG) May 12, 2016

Government will actively support the use of public private partnerships in the development of Infrastructure- Udo Udoma #BudgetNG2016

— National Planning NG (@PlanningNG) May 12, 2016

N35.6b has been set aside for construction of 1,973 blocks of 7,068 Housing Units in the six geopolitical Zones and FCT- Udoma #BudgetNG2016

— National Planning NG (@PlanningNG) May 12, 2016

In the 2016 budget are several initiatives aimed at improving standards and access to education nationwide - Udo Udoma #BudgetNG2016

— National Planning NG (@PlanningNG) May 12, 2016

... these includes 1. N342.1 million Secondary Schools quality assurance programme across the 6 geo-political zones - Udoma #BudgetNG2016

— National Planning NG (@PlanningNG) May 12, 2016

2. N817.1 million for statutory visitation and monitoring of 90 Federal tertiary institutions - Udo Udoma #BudgetNG2016

— National Planning NG (@PlanningNG) May 12, 2016

3. N2.1 billion for servicing ongoing and new local and foreign scholarships - Sen. Udo Udoma #BudgetNG2016

— National Planning NG (@PlanningNG) May 12, 2016

Minister of State, Budget and National Planning, Mrs Zainab S. Ahmed, takes the podium to present a more indepth analysis of the 2016 budget

— National Planning NG (@PlanningNG) May 12, 2016

#Twitpic #BudgetNG2016 pic.twitter.com/pDPaNBidZj

— National Planning NG (@PlanningNG) May 12, 2016

#Twitpic #BudgetNG2016 pic.twitter.com/xNFaweFYs4

— National Planning NG (@PlanningNG) May 12, 2016

#Twitpic #BudgetNG2016 pic.twitter.com/g07YICbY5C

— National Planning NG (@PlanningNG) May 12, 2016

#Twitpic #BudgetNG2016 pic.twitter.com/7Yuur0oguK

— National Planning NG (@PlanningNG) May 12, 2016

You can download the details from:

http://www.nationalplanning.gov.ng/images/Consolidated%20Appropriation_Bill__Details_2016.pdf

http://www.nationalplanning.gov.ng/images/2016AppropriationBill.pdf