Nigeria Federal Budget 2018
*Signed mid-year, June 21st, 2018.
*Has a total value of N9,120 billion which is about 23.6% increase from 2017 Budget.
*Recurrent (non-debt) spending = N3.51 trillion
*Capital expenditure (excluding transfers) = N2.87 trillion.
*Capital spending is 31.5% of total FGN expenditure in 2018.
*Debt service = N2.01 trillion
*Provision to retire maturing bond to local contractors = N190billion.
*Overall budget deficit = N1.950 trillion (whichin represents 1.74% of GDP).
*Budget deficit is to be financed mainly by borrowing N1.643 trillion via domestic sources up to N793 billion and foreign sources up to N849 billion.
*A total of N306 billion is expected from privatization proceeds and N5 billion from
sale of other government property to part finance the deficit.