2016 BUDGET OVERVIEW: APPROPRIATED VERSUS RELEASED

1. StatiSense
2016 BUDGET OVERVIEW:
APPROPRIATED VERSUS
RELEASED

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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. 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. Reference –
Total Capital and Capital Supplementation for Reconciliation with
OAGF (21st October, 2016), Budget Office of the Federation.

21. Analyst: Wale Micaiah
e: walegate@yahoo.com
m: 08078001800
w: www.statisense.com
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