2017 Budget: Key Figures In The Appropriation Bill



Expenditure Estimates

  •  The proposed aggregate expenditure of N7.298 trillion will comprise:
  • Statutory transfers of N419.02 billion;
  • Debt service of N1.66 trillion;
  • Sinking fund of N177.46 billion to retire certain maturing bonds;
  • Non-debt recurrent expenditure of N2.98 trillion; and
  • Capital expenditure of N2.24 trillion (including capital in Statutory Transfers).

Statutory Transfers

  • We have increased the budgetary allocation to the Judiciary from N70
    billion to N100 billion. This increase in funding is further meant to
    enhance the independence of the judiciary and enable them to perform
    their functions effectively.

 Recurrent Expenditure

  • A significant portion of recurrent expenditure has been provisioned
    for the payment of salaries and overheads in institutions that provide
    critical public services. The budgeted amounts for these items are:
  • 37 billion for the Ministry of Interior;
  • 01 billion for Ministry of Education;
  • 87 billion for Ministry of Defence; and
  • 87 billion for Ministry of Health.

 Capital Expenditure

  • The size of the 2017 capital budget of N2.24 trillion (inclusive of
    capital in Statutory Transfers), or 30.7% of the total budget, reflects
    our determination to spur economic growth. These capital provisions are
    targeted at priority sectors and projects.

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  •  Specifically, we have maintained substantially higher allocations
    for infrastructural projects which will have a multiplier effect on
    productivity, employment and also promote private sector investments
    into the country.
  •  Key capital spending provisions in the Budget include the following:
  • Power, Works and Housing: N529 billion;
  • Transportation: N262 billion;
  • Special Intervention Programmes: N150 billion.
  • Defence: N140 billion;
  • Water Resources: N85 billion;
  • Industry, Trade and Investment: N81 billion;
  • Interior: N63 billion;
  • Education N50 billion
  • Universal Basic Education Commission: N92 billion
  • Health: N51 billion
  • Federal Capital Territory: N37 billion;
  • Niger Delta Ministry: N33 billion; and
  • Niger Delta Development Commission: N61 billion;

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