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Nigeria:Budget Breakdown For 2012

This afternoon, President Goodluck Jonathan presented the 2012 proposed budget at the National Assembly. The proposed 2012 budget is N4.749 Trillion Naira amounting to six percent increase over the N4.48 Trillion in 2011.

Not included was the petroleum subsidy allocation further confirming that the subsidies on petrol will likely be removed by the end of this month, sky rocketing petrol to the ranges between N140-N150 per litre  from the current N65 per litre.

President Goodluck Jonathan said the 2012 budget will be a stepping stone to the transformation of Nigeria.

The  Budget Breakdown For 2012:                                                                                                                                                  

Capital Expenditure: N1.32 Trillion
Recurrent (non debt) Expenditure: N2.472 Trillion
Statutory Transfer: N398 Billion
Debt servicing: N560 Billion

Other sectors
Security: N921.91 Billion
Power: N161.42 Billion
Works: N180.8 Billion
Education: N400.15 Billion
Health: N282.77 Billion
Agriculture: N78.98 Billion
Water Resources: N39 Billion
Petroleum Resources: N59.66 Billion
Aviation: N49.23 Billion
Transportation: N54.8 Billion
Land and Housing: N24.9 Billion
Niger Delta: N59.7 Billion
Science and Tech: N30.84 Billion
FCT : N45.59 Billion
Communication and ICT: N18.31 Billion


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