Nigeria’s President Muhammadu Buhari signed the 2018 Federal Budget on June 21st, 2018. The signed 2018 budget has a value of N9,120 billion a 23.6% increase from the N7,441 billion budget signed in 2017.
Download entire 2018 budget appropriation bill breakdown for each Ministry.
Budget Summary
- Recurrent (non-debt) spending expected to rise by 17%, from N2.99 trillion in FY2017 to N3.51 trillion.
- Capital expenditure (excluding transfers) higher by 22% from N2.36 trillion in FY2017 to N2.87 trillion.
- Capital spending is 31.5% of total FGN expenditure in 2018.
- At N2.01 trillion, debt service is 21% of planned spending (about same as in FY2017).
- Provision to retire maturing bond to local contractors increased by 7% from N177 billion in FY2017 to N190billion in view of the ambitious plan to liquidate all contractor arrears of the FGN going back to several years.
- Overall budget deficit of N1.950 trillion in 2018 represents 1.74% of GDP.
- Projected deficit within threshold stipulated in the Fiscal Responsibility Act (FRA)
2007. - Budget deficit is to be financed mainly by borrowing N1.643 trillion.
- Domestic sources – N793 billion; Foreign sources – 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.
Source: Budget Office.
Spending on Roads
• About N344 billion for the construction and rehabilitation of several roads nationwide
including:
• Lagos-Shagamu-Ibadan Dual Carriageway,
• Ilorin-Jebba-Mokwa-Bokani Road,
• Abuja-Abaji Road,
• Kano-Maiduguri Road,
• Enugu-Port-Harcourt Dual Carriageway,
• Odupkani-Itu-Ikot Ekpene Road,
• Sokoto-Tambuwal-Jega-Kontagora-Makera Road,
• Dualisation of Obajana Junction to Benin,
• Calabar-Ugep-Kastina Ala Road,
• Onitsha-Enugu Dual Carriageway,
• Abuja-Kaduna-Zaria-Kano Dual Carriageway
• Benin-Ofosu-Ore-Ajebandele-Shagamu Expressway Phase III
• Kotangora – Bangi Road
About N344 billion for the construction and rehabilitation of several roads
nationwide including:
• Bodo-Bonny Road with a bridge across the Opobo channel. In Rivers State. • Apapa – Oshodi express way in Lagos (Phase II Sections I & II). • Nnenwe-Oduma-Mpu (Enugu State) -Uburu (Ebonyi State) • Ningi – Yadagungume- Fuskar Mata Road Phase II In Bauchi State
• Oju/Loko – Oweto Bridge to link Loko And Oweto with approach Roads
• Otuocha – Anam- Nzam- Innoma – Iheaka- Ibaji Section of Otuocha – Ibaji – Odulu –
Ajegwu In Anambra / Kogi States
• Oba – Nnewi Road Section II in Anambra State
• Ogrute (Enugu State) – Akpanya – Odolu (Kogi State) Road Section II with extension to
Obollo Afor. • Tamawa – Gulu Road at Rimin Gado LGA in Kano State
• Jalingo – Kona – Lau – Karim Road Phase I in Taraba State, etc.
You can download the report below
