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2016 budget overview appropriated verses released

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2016 BUDGET OVERVIEW: APPROPRIATED VERSUS RELEASED

2016 budget overview appropriated verses released

  1. 1. StatiSense 2016 BUDGET OVERVIEW: APPROPRIATED VERSUS RELEASED
  2. 2. NO. BUDGET COMPONENTS AMOUNT PERCENTAGE 1 Debt Services 1,475,320,000,000 24.34% 2 Statutory Transfer 351,370,000,000 5.80% 3 Recurrent Expenditures 2,646,389,236,196 43.66% 4 Capital Expenditures 1,587,598,122,031 26.20% TOTAL BUDGET 6,060,677,358,227 2 0 1 6 A P P R O P R I A T E D B U D G E T
  3. 3. NO. ITEM PROJECTION ACTUAL 1 Average Oil Production (mbpd) 2.2 1.93 2 Average Oil Price Benchmark ($) 38 42.9 3 Non-Oil Revenue Baseline Customs Collections, Company Income Tax, Value Added Tax, FGN Independent Revenue 4 Exchange Rate ($) 197 305 5 Inflation (%) 9.81 18.39 We Spend more Dollar than we EARN 2 0 1 6 B U D G E T A S S U M P T I O N S August 2016
  4. 4. 2016 BUDGET ASSUMPTIONS: OIL PRODUCTION 2,241,692 2,181,416 2,082,924 2,149,252 2,041,405 1,954,875 1,985,317 1,688,380 1,768,844 1,654,366 1,502,083 0 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 1,600,000 1,800,000 2,000,000 2,200,000 2,400,000 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Projected: Average Oil Production (mbpd) = 2.2 Actual: Average Oil Production (mbpd) = 1.93 Oil Production (mbpd) Source: NNPC
  5. 5. 0 5 10 15 20 25 30 35 40 45 50 55 60 4-Jan-16 4-Feb-16 4-Mar-16 4-Apr-16 4-May-16 4-Jun-16 4-Jul-16 4-Aug-16 4-Sep-16 4-Oct-16 4-Nov-16 4-Dec-16 Projected: Average Oil Price Benchmark ($) = 38 Actual: Average Oil Price Benchmark ($) = 42.9 2016 BUDGET ASSUMPTIONS: OIL PRICE Oil Price Benchmark ($) Source: http://www.investing.com
  6. 6. B U D G E T S H O R T F A L L S NO. ITEM PROJECTION ACTUAL 1 Average Oil Production (mbpd) 2.2 1.93 2 Average Oil Price Benchmark ($) 38 42.9 3 Non-Oil Revenue Baseline Customs Collections, Company Income Tax, Value Added Tax, FGN Independent Revenue 4 Exchange Rate ($) 197 305 5 Inflation (%) 9.81 18.39 Projected Actual Oil (mbpd) Oil Price ($) 2.2 1.93 38 42.9 $83.6m $82.8m Without considering other unmet projections, clearly there is shortfall in Nigeria’s financial projection, which automatically leads to the variableness in funding the 2016 Budget!
  7. 7. CAPITAL EXPENDITURES 1,587,598,122,031 RELEASED 635,770,642,465 % RELEASED 40% October 21, 2016 2 0 1 6 C A P I TA L B U D G E T R E L E A S E S
  8. 8. 2016 CAPITAL BUDGET APPROPRIATED VS RELEASED MINISTRY APPROPRIATED RELEASED % BUDGET AND NATIONAL PLANNING 402,543,000,000 120,085,747,176 29.83 FEDERAL MINISTRY OF EDUCATION 35,995,592,158 16,743,672,981 46.52 FEDERAL MINISTRY OF ENVIRONMENT 9,369,571,228 4,281,918,140 45.70
  9. 9. 2016 CAPITAL BUDGET APPROPRIATED VS RELEASED MINISTRY APPROPRIATED RELEASED % FEDERAL MINISTRY OF FINANCE 667,842,500 452,429,267 67.74 FEDERAL MINISTRY OF FOREIGN AFFAIRS 7,076,226,761 5,603,719,898 79.19 FEDERAL MINISTRY OF HEALTH 28,650,342,986 18,472,539,524 64.48
  10. 10. 2016 CAPITAL BUDGET APPROPRIATED VS RELEASED MINISTRY APPROPRIATED RELEASED % FEDERAL MINISTRY OF INDUSTRY, TRADE AND INVESTMENT 5,886,327,845 669,329,194 11.37 FEDERAL MINISTRY OF INFORMATION & CULTURE 6,071,503,957 2,500,000,000 41.18 FEDERAL MINISTRY OF INTERIOR 61,713,279,497 21,100,059,596 34.19
  11. 11. 2016 CAPITAL BUDGET APPROPRIATED VS RELEASED MINISTRY APPROPRIATED RELEASED % FEDERAL MINISTRY OF JUSTICE 879,736,744 451,715,827 51.35 FEDERAL MINISTRY OF LABOUR AND EMPLOYMENT 5,542,655,626 218,456,512 3.94 FEDERAL MINISTRY OF NIGER DELTA 19,440,328,551 8,161,196,486 41.98
  12. 12. 2016 CAPITAL BUDGET APPROPRIATED VS RELEASED MINISTRY APPROPRIATED RELEASED % FEDERAL MINISTRY OF SCIENCE AND TECHNOLOGY 27,006,179,076 6,752,133,606 25.00 FEDERAL MINISTRY OF SOLID MINERALS 9,967,567,987 4,905,415,683 49.21 FEDERAL MINISTRY OF TRANSPORTATION 188,674,679,674 30,540,042,428 16.19
  13. 13. 2016 CAPITAL BUDGET APPROPRIATED VS RELEASED MINISTRY APPROPRIATED RELEASED % FEDERAL MINISTRY OF WATER RESOURCES 46,081,121,422 25,201,857,951 54.69 FEDERAL MINISTRY OF WOMEN AFFAIRS 2,293,528,977 656,753,408 28.64 FEDERAL MINISTRY OF WORKS, POWER & HOUSING 429,269,829,066 211,660,607,209 49.31
  14. 14. 2016 CAPITAL BUDGET APPROPRIATED VS RELEASED MINISTRY APPROPRIATED RELEASED % FEDERAL MINISTRY OF YOUTH & SPORTS 3,497,043,000 1,627,097,829 46.53 MINISTRY OF AGRICULTURE AND RURAL DEVELOPMENT 46,173,963,859 29,578,929,050 64.06 MINISTRY OF COMMUNICATION TECHNOLOGY 5,992,735,230 3,675,437,916 61.33
  15. 15. 2016 CAPITAL BUDGET APPROPRIATED VS RELEASED MINISTRY APPROPRIATED RELEASED % MINISTRY OF DEFENCE 130,864,439,541 77,716,110,136 59.39 POLICE SERVICE COMMISSION 269,629,000 80,888,700 30.00 PRESIDENCY 23,004,199,700 9,823,907,063 42.70
  16. 16. 2016 CAPITAL BUDGET APPROPRIATED VS RELEASED MINISTRY APPROPRIATED RELEASED % AUDITOR GENERAL FOR THE FEDERATION 317,509,819 158,754,909 50.00 CODE OF CONDUCT TRIBUNAL 1,055,560,066 551,100,973 52.21 FEDERAL CHARACTER COMMISSION 984,780,230 862,750,979 87.61
  17. 17. 2016 CAPITAL BUDGET APPROPRIATED VS RELEASED MINISTRY APPROPRIATED RELEASED % FEDERAL CIVIL SERVICE COMMISSION 16,841,017 10,451,017 62.06 INFRASTRUCTURAL CONCESSIONAL AND REGULATORY COMMISSION 35,730,000 16,650,000 46.60 OFFICE OF THE NATIONAL SECURITY ADVISER 32,084,085,625 20,984,301,122 65.40
  18. 18. 2016 CAPITAL BUDGET APPROPRIATED VS RELEASED MINISTRY APPROPRIATED RELEASED % OFFICE OF THE HEAD OF THE CIVIL SERVICE OF THE FEDERATION 1,429,176,735 842,064,464 58.92 OFFICE OF THE SECRETARY TO THE GOVT OF THE FEDERATION (SGF) 20,319,288,049 5,586,928,616 27.50 REVENUE MOBILISATION ALLOCATION & FISCAL COMMISSION 2,064,168,129 250,000,000 12.11
  19. 19. 2016 CAPITAL BUDGET APPROPRIATED VS RELEASED MINISTRY APPROPRIATED RELEASED % INDEPENDENT CORRUPT PRACTICES AND RELATED 799,680,570 282,281,231 35.30 CODE OF CONDUCT BUREAU 4,889,127,358 265,393,575 5.43 FEDERAL CAPITAL TERRITORY ADMINISTRATION 29,297,122,872 5,000,000,000 17.07
  20. 20. Reference – Total Capital and Capital Supplementation for Reconciliation with OAGF (21st October, 2016), Budget Office of the Federation.
  21. 21. Analyst: Wale Micaiah e: walegate@yahoo.com m: 08078001800 w: www.statisense.com Freely share, freely use and freely acknowledge the source – © Wale Micaiah
  • ShauryaChauhan7

    Feb. 16, 2017

2016 BUDGET OVERVIEW: APPROPRIATED VERSUS RELEASED

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