Get it on Google Play

Gov. El-Rufai presents budget of N216.5bn for 2018 to Assembly

Updated Friday 13 October 2017 12:35
Gov. El-Rufai presents budget of N216.5bn for 2018 to Assembly

According to him, capital expenditure is allocated 60 per cent because of the administration’s resolve to spend more and invest in the people.

Did you know? You can comment on this post! Just scroll down

“Under capital expenditure, the Social Sector received the largest chunk of N51.4 billion; Economic Sector, N38 billion; General Administration, N26 billion; and Real Sector, 14 billion.”

He said that the Social Sector, comprising education, health and social development took the lion share of 39.2 per cent of the budget so as to promote social justice through human capital development.

“We envisage starting the year with an opening balance of N10 billion with internally generated revenue of over N42 billion and statutory allocation from Federation Account of over N34 billion.

“The recurrent expenditure estimate for 2018 are projected to be broken down as, public desk charges, that is payment of loans and other facilities estimated at over N4 billion with consolidated revenue fund charges at over N1 billion.

“Others include, personnel cost, N40 billion; overhead cost, N44 billion; and 10 per cent statutory transfers from the state to local government areas, totaling over N85 billion.

“The breakdown of the capital account for 2018 as projected would be transfers from the recurrent budget surplus of over N2 billion and over N13 billion from value added tax.

“Others are over N800 million as internal loans as well as N89 billion as external loans, internal grant at over N9 billion while external grant stands at over N4 billion.”

Article Posted 6 Years ago. You can post your own articles and it will be published for free. No Registration is required! But we review before publishing! Click here to get started

Love This? Share It!

One Favour Please! Subscribe To Our YouTube Channel!

468k

Cook Amazing Nigerian Dishes, Follow Adorable Kitchen YouTube Channel!

1.1m

Like us on Facebook, Follow on Twitter

React and Comment

If this violates your rights in any way, please report it here and it will be taken down within 24 hours.
Click Here To Hide More Posts Like This

Watch and Download Free Mobile Movies, Read entertainment news and reports, Download music and Upload your own For FREE. Submit Your Content to be published for you FREE! We thrive on user-submitted content! But we moderate!

Get it on Google Play
Attention
We use cookies to serve you better. We have to let you know this in accordance with EU laws. You accept our terms and conditions by using this platform. Please Click on the OK button below to hide this message