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Leave your email to receive our newsletter, Get the hottest stories from the largest news site in Nigeria, Drop your mail and be the first to get fresh news. Check out a short summary of Nigeria's national budget for 2016: Deficit: 2.22 trillion Naira (equivalent to 2.16% of Nigeria’s GDP), Projected Independent Revenues: 1.51 trillion Naira, Capital Expenditure: 1.8 trillion Naira (30% of total budget), Works, Power and Housing: 433.4 billion Naira, Special Intervention Programs: 300 billion Naira, Ministry of Interior: 145.3 billion Naira, Foreign and Domestic Debt Service: 1.36 trillion Naira, Sinking Fund towards the retirement of maturing loans: 113 billion Naira, Non-debt Recurrent Expenditure: 2.65 trillion Naira, READ ALSO: President Buhari Presents 2016 National Budget. %PDF-1.4 %���� The Assumptions and Policies of 2016-18 Medium Term Expenditure Framework – Dec 15, 2015. h�bbd```b``:"���pɱD�y�H�� ������`�$���� Tax administratio.. Afghanistan Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Bermuda Bhutan Bolivia Bosnia & Herzegovina Botswana Brazil British Virgin Islands Brunei Bulgaria Burundi Cambodia Cameroon Canada Cape Verde Cayman Islands Chad Channel Islands Chile Colombia Congo Costa Rica Croatia Cuba Curaçao Cyprus Czech Republic Democratic Republic of Congo Denmark Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Estonia Ethiopia Falkland Islands Fiji Finland France FYR of Macedonia Gabon Georgia Germany Ghana Greece Greenland Grenada Guam Guatemala Guinea Guyana Haiti Honduras Hong Kong SAR Hungary Iceland India Indonesia Iran Iraq Ireland Isle of man Israel Italy Ivory Coast Jamaica Japan Jordan Kazakhstan Kenya Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Libya Liechtenstein Lithuania Luxembourg Macau SAR Macedonia Madagascar Mainland China Malawi Malaysia Maldives Malta Mauritius Mexico Moldova Monaco Mongolia Montenegro Morocco Mozambique Myanmar Namibia Nepal Netherlands New Zealand Nicaragua Nigeria North Korea North Mariana Islands (Including Saipan) Norway Oman Pakistan Palestinian Authority Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Romania Russia Rwanda Samoa San Marino Saudi Arabia Senegal Serbia Seychelles Singapore Slovakia Slovenia South Africa South Korea South Sudan Spain Sri Lanka St. Kitts St. Lucia Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Trinidad and Tobago Tunisia Turkey Turkmenistan Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vatican City Venezuela Vietnam Zambia Zimbabwe, Compliance and reporting Corporate income tax Indirect taxes Law OECD developments People mobility, risk and performance Personal taxes Tax administration Tax controversy Tax incentives Tax policy Tax risk Tax structuring Transfer pricing, Automotive & Transportation Cleantech Consumer Products & Retail Financial Services Govenment & Public Sector Health Life Sciences Media & Entertainment Mining & Metals Oil & Gas Power & Utilities Private Equity Real Estate, Hospitality & Construction Technology Telecommunications, Cross-border intracompany transactions with the EU, Q&A: why governments tax harmful behavior, Italy considers significant amendments to tax criminal penalties, Belgium publishes legislation on Mandatory Disclosure Rules, Increasing the collection of taxes (CIT and VAT), implying enhanced compliance enforcement.
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Nigera's Medium Term Expenditure Framework (MTEF) submitted by PMB – Proshare – Dec 09, 2015. The Efficiency Unit set up by the current administration, together with effective implementation of GIFMIS and IPPIS, will drive a reduction of overheads by at least 7%, personnel costs by 8% and other service wide votes by 19%. schedule 2016 budget proposal. Addressing the unemployment situation in the country through: A reduction in tax rates for smaller businesses, Subsidized funding for priority sectors such as agriculture and solid minerals. The 2016 budget in need of joining up – Nov 10, 2015. endstream endobj startxref Nigeria’s 2016 budget is based on a crude oil benchmark price of $38 per barrel and a production estimate of 2.2 million barrels per day for 2016. There is a proposed a 9% reduction in non-debt recurrent expenditure, from N2.59 trillion in the 2015 budget to N2.35 trillion in 2016.
In 2015, the total federal budget was N4.45 trillion naira.
Nigeria’s President, Muhammadu Buhari, on Tuesday presented a 2016 budget proposal of 6.07 trillion Naira. The budgeted N300 billion for Special Intervention Programs, takes the total amount for non-debt recurrent expenditure to N2.65 trillion.
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