President Muhammad Buhari has presented a N6.08 trillion budget for the fiscal year 2016.Mr. Buhari presented the budget Tuesday morning before a joint session of the National Assembly.
In the budget, capital expenditure takes N1.8 trillion, marking a significant over 300 per cent increment from the 2015 vote of N557 billion.
According to the estimate, N396billion is voted for education, being the largest sectoral allocation.
The health sector gets N296 billion while defence has N294 billion.
This is the first in three years a Nigerian President would personally present a budget before the National Assembly.
That approach by Mr. Buhari earned him commendation by the Speaker of the House of Representatives, Yakubu Dogara, who joked that he had expected the President to tweet or email the budget details.
In his speech, Mr. Buhari said he was aware Nigerians were losing confidence in the government.
“But I promise the 2016 budget would address the problems,” the President said. “We are here to serve Nigeria and indeed Nigerians will get the services they have longed for.”
According to Mr. Buhari, the budget would ensure reduction in taxes for small businesses.
While reiterating his commitment to economic diversification, he said farming and mining would be given special focus.
He also promised that 500,000 new teachers would be recruited.
He assured that the Nigerian economy would cease to be oil dependent and would instead be characterised by inclusive growth.
“We must deliver security, jobs and infrastructures,” Mr. Buhari said.
On the hardship been faced by Nigerians as a result of fuel scarcity, the President apologised for the situation, admitting he was aware the scarcity had caused social dislocation across the country
He blamed the scarcity on speculators and those “resisting change” and assured Nigerians government was working hard to cushion the difficulty.
The President said he has directed the Petroleum Product Pricing Regulatory Authority to continue the sell of petrol at N87 per litre for now.
Text culled from premiumtimes
HIGHLIGHTS OF THE BUDGET
capital expenditure takes N1.8 trillion
N396billion is voted for education
The health sector gets N296 billion
defence has N294 billion.
500,000 new teachers would be recruited.
What an extraordinarily inflated budget. What is all that trillion???
ReplyDeleteLucinda
And who is this????INFLATION???
DeleteShut up
DeleteI hope he keeps to his promise cos this country is nothing to talk about wen it cums to light, road, jobs etc
DeleteAnswer : the trilions are for oiling the wheels to be used in 2016 for the whole nation(170m people). And guess what? It is not up to what very few(less than 1000) greedy individuals embezzled in the last administration....kaboom!
DeleteYou still don't get it? gwan sleep!
Next
Delete2moro, we will hear how the money was squandered
HRH Ekeh na so you mumu reach? If you read this post properly, you go know say your comment na "falling hand".
DeleteI'm glad that we can now finally measure PMB's work cos he has full control of the budget of 2016 by God's grace. Not the yeye 2015 budget that was handed down after most of the finance had been spent on election campaign and attempted rigging.
As for those who keep saying "9 months" Which calender una dey use?
PMB took over 29th of May.... The month of May should not even be counted cos na month end e start work. From June to December is 7 months. Not even Houdini can magically clean up the filth left behind over the space of 16 years (worse in the last 6) in 7 months abeg.
HRH EKEH ( King of all Kingdoms)illiterate of the 21st century, can neither learn, relearn nor unlearn! Education actually got the highest allocation. Cease being bias and small minded, this is one of best budgets we've had in a while.
DeleteYou think its Brazilian they want to buy lucinda? Olodo
DeleteWhat of dollar current exchange rate?
DeleteAbeg babab bu bu! Pls let it reach me oh! Am a fruiterer and party planner!
ReplyDeleteAbeg let it circulate
Dis year was wonderful make I no talk the other side
Small change wey I hustle one idiot called Akuban evvents and jersey maker abscounded with it! M just tired! Dis world is. Wwicked abeg!
Sorry dear.
DeleteMay 2016 bring peace,growth and stability to nigeria..... Amen
ReplyDeleteAmen
DeleteAmen,so shall it be
DeleteAmen.
DeleteI'm so positive about this government and I know the living God I serve will not see them fail.
Way to go PMB. God will see you through
Amen in Jesus name
DeleteAmem!
DeleteAmen to your Lafresh I pray that dis government bring a fresh start to all Nigerians bcos we the poor masses don chop suffer abeg. Happy Christmas to u and all d BV.
DeleteAll dose screaming for change.... Na wa o... When people are dead broke and jobless. Nigeria oooo
ReplyDeleteChange is not a day's job.we HV to endure the process. As u know,success is not achieved in a day. U HV to go through rigors of tests and hardship.kpele,we WL get there.
DeleteI pray they put it in good use.
ReplyDeleteI pray they put it in good use.
ReplyDeleteI hope this budget money will wipe all our wahala for obodo naija
ReplyDeleteIt's WELL
ReplyDeleteI will always be here to monitor this trillions they budgeted...
ReplyDelete500,000 Graduates are going to be teachers with a chicken change salary...
Kwakwakwakwa...
It's getting interesting mehn!...
Shut up there...Is it not better than having 500,000 unemployed youths
DeleteShutup illiterate queen! Do you even comprehend anything at all? You better apply instead of forming rich old woman. Mkpi
DeleteSee dickheads insulting queen. It is obvious both of you are fools. You are yet to learn ur lesson after 9months. Smh for idiots like u guys
DeleteAmen! The duchess has spoken well. This is the kind of comment to make instead of insults. Weldone The duchess.
ReplyDeleteDiz mma Madu bu garri self , I no understand u oooooooo but meanwhile diaris God
ReplyDeleteI heard Buhari has the decision of borrowing 2 trillion naira, the highest in the nation's history. He should keeping breaking useless records. Now see the budget. Mtchew
ReplyDeleteDe 1 way some pple go still steal, and if de dnt approve dis 1 its goodluck jonathan.
ReplyDeleteSee money ooo
ReplyDeletea.k.a EDWIN CHINEDU AZUBUKO said...
ReplyDelete.
Lord knws i believe in my presido...
.
.
***CURRENTLY IN JUPITER***
Defence sector should not get a dime for now. All the Dasukis will slowly shoki all the st olen money that was returned from Abacha's loot. What happens to that one? Voicemail?
ReplyDeleteThank You Jesus, my daddys business will start booming. Stella My dad has not gotten any contract since Jonathan became president, he gets contract from the government to supply hospital equipment especially to the north but with this boko haram and all no contract no food. The poor man has been very sad and unhappy. I thank God for this new budget on health and i hope it will resurrect my dads business. Amen. God bless buhari
ReplyDeleteHope your daddy supplies good equipment make the curse of the ill no befall una ? Not the abandoned China products
DeleteSee money ooo
ReplyDeleteI have faith in this government but as usual the impatience of Nigerians will not lets things work as planned. It's funny how people want this man to perform miracles in 9 months when the past administration couldn't do anything good in 6 years. The past administration is the reason why we are all suffering. We all need to be patient and cooperative with the new government... Patience will bring us far
ReplyDeleteI pray 2016 will be far more better than 2015 for this our obodo naijaoo
ReplyDeleteNa wa.
ReplyDeleteMen These amounts are Outrageous!
ReplyDelete#THIS amount IS........not outrageous#
DeleteCheck his history, he s not a money waster.he must have sat down and thoroughly analyze what he want to achieve wt ds "outrageous" money
I just pray that this government finally starts giving us results instead of going back and forth.
ReplyDeleteReno Omokri's reply to Lie Mohammed...epic!
ReplyDeleteA chunk of that budget would be borrowed as well...
ReplyDeleteLet's keep praying and hope for the best. It can only get better
ReplyDeleteI pray all this transform the nation. For the first time a government is making education a priority, this shows they mean well for the growth of this nation, education is the bedrock of national growth.
ReplyDeleteThis administration will not fail in Jesus name, every hater of this change fall down and die in Jesus name. Amen.
Lets hope for the better. abi wetin u wn make I talk?
ReplyDeleteEnd time budget
ReplyDeleteseen..... Enter your comment...
ReplyDeleteNigeria government dont talk about millions again is now billion,God save Nigeria.
ReplyDeleteChange this, change that! Issorite
ReplyDeletehmmmm
ReplyDeleteI just love this man.
@Duchess,amen
ReplyDeleteHis speech was powerful, touching and inspiring. I really have faith and trust in this administration to bring the change that we longed for.God bless Nigeria and all the agents of change in this country.
How were u able to understand what he was saying?Just asking
Delete@anonymous, I understood everything.
DeleteNice well thought out budget. My issue has always been in d implementation. However, my little grouse with d budget is dat it did not factor in d billions that hs been recovered or anticipated to be recovered from the treasury looters. I say this bc d govt already told us a lot of money is being recovered. My view
ReplyDeleteGod bless Nigeria
ReplyDeleteNigerians are waiting.
ReplyDeleteThe good thing about this budget is they would stop complaining about the past administration.. If in a year there is no improvement, they people would hold them responsible because they are now working on their own budget
ReplyDeleteMay God see them thru and allow them use the 6.8 trillion very well.. I wish them the best in 2016.
But I'm still sad about the atm card stuff
Sai Buhari am still waiting for change
ReplyDeleteLet d change start with u.
DeleteBuhari u should please include the 5k budget for the unemployed youths biko Stella take note
ReplyDeleteStella please help me to tell Buhari that he forgot to include my name in the budget.
ReplyDelete