Reports: N8 Trillion Budget Planned For 2016 by FG
The federal government is reportedly planning towards an N8 trillion budget for 2016.
According to Punch, Vice President, Yemi Osinbajo disclosed the news
on Thursday in a paper entitled: ‘The economy – Where we are today’,
which he delivered at the retreat organised for ministers-designate on
Thursday.
“The budget process will be zero based, a method of bud
geting by
which all expenses must be justified for each new budget year. For the
Medium Term Expenditure Framework, the actual 2015 budget is N4.4tn,
while the proposed 2016 budget will be N7tn to N8tn.
Capital expenditure for the 2015 budget is N1.31tn, while the proposed capital expenditure for 2016 is N2tn,” he said.
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