Breakdown of 2018 Budget Estimates


Budget size: N9.12 trillion (16 % higher than 2017 estimates)

Check out the breakdown of the 2018 budget estimates below:……………..


Benchmark Oil Price – $45 per barrel
Oil Production: 2.3mbpd
Exchange rate: N305/$1
Inflation Rate: 12.4%
Expenditure Estimates

Recurrent Costs of N3.494 trillion
Debt Service of N2.014 trillion
Statutory Transfers of about N456 billion
Sinking Fund of N220 billion
Capital Expenditure of N2.428 trillion
Recurrent Expenditure

87 billion for Interior
01 billion for Education
43 billion for Defence
34 billion for Health
Capital Expenditure

Power, Works, and Housing: N555.88 billion
Transportation: N263.10 billion
Special Intervention Programmes: N150.00 billion
Defence: N145.00 billion
Agriculture and Rural Development N118.98 billion
Water Resources: N95.11 billion
Industry, Trade, and Investment: N82.92 billion
Interior: N63.26 billion
Education N61.73 billion
Universal Basic Education Commission: N109.06 billion
Health: N71.11 billion
Federal Capital Territory: N40.30 billion
Zonal Intervention Projects N100.00 billion
North East Intervention Fund N45.00 billion
Niger Delta Ministry: N53.89 billion
Niger Delta Development Commission: N71.20 billion.

Key projects and programmes to be implemented in 2018:

N9.8 billion for the Mambilla hydropower project, including N8.5 billion as counterpart

N12 billion counterpart funding for earmarked transmission lines and substations
N35.41 billion for the National Housing Programme
N10.00 billion for the 2nd Niger Bridge
About N300 billion for the construction and rehabilitation of strategic roads
Regional Spending Priorities for Peace, Security, and Development

N65 billion for the Presidential Amnesty Programme has been retained in the 2018 Budget
Capital provision for the Ministry of Niger Delta increased to N53.89 billion from the N34.20 billion provided in 2017
Completion of East-West Road, with a provision of about N17.32 billion in 2018.


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