President Buhari today presented the 2018 Appropriation Bill to a joint session of the National Assembly. It was described as a budget of consolidation to:
- Reinforce and build on recent accomplishments
- Sustain reflationary policies
- Ensure diversified, sustainable and inclusive economy
Below are the highlights of the Budget:
|
EXPENDITURE |
N'trillion |
|
|
Capital expenditure |
2.43 |
|
|
Recurrent |
3.49 |
|
|
Debt service |
2.01 |
|
|
Statutory transfer |
0.46 |
incl N23b Capex |
|
Sinking fund |
0.22 |
|
|
Aggregate spending |
8.61 |
|
|
REVENUE |
N'trillion |
|
|
Oil revenue |
2.44 |
|
|
Non oil revenue |
1.33 |
|
|
Independent sources (+others) |
2.84 |
|
|
Deficit |
2.00 |
|
|
Aggregate revenue + borrowing |
8.61 |
Key Assumptions:
- Benchmark oil price $45 per barrel
- Oil production 2.3m bpd
- Exchange rate N305/US$
- Real GDP growth 3.5%
- Inflation rate 12.4%
Below is a copy of the Budget Speech by President Muhammadu Buhari and our Budget Bulletin for further details.
Download PwC 2018 Nigeria's Budget Highlight
Download Appropriation Bill__Details
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