Nigeria's Proposed 2012 Budget: Summary

AREA                          N (AMT) (in billions)        $(AMT) ($1=N155) %

Proposed Budget            474.9                               30.64 (6% over 2011)

Capital Expenditure         132.0                               8.54                 27.8

Recurrent Expenditure     272.0                               17.55                57.3

Statutory Transfer           39.8                                 2.57                 8.4

Debt Servicing                56.0                                 3.61                11.8

OTHER SECTORS

Security                        92.2                                 5.95                 19.4

Power                           16.1                                 1.04                  3.4

Works                           18.1                                 1.20                  3.8

Education                      40.0                                 2.60                   8.4

Health                           28.3                                 1.80                   6.0

Agriculture                      7.91                                0.50                   1.7

Water Resources              3.9                                  0.25                  0.8

Petroleum Resources         6.0                                  0.38                 0.13

Aviation                          4.9                                 0.32                  0.10

Transportation                 5.5                                 0.35                  0.12

Land and Housing             2.5                                  0.16                 0.05

Niger Delta                      6.0                                  0.39                 0.13

Science & Technology       3.1                                 0.20                  0.06

FCT                               4.6                                 0.30                  0.01

Communication & ICT        1.8                                 0.12                 0.004

TOTAL                              240.8                                      15.5                   50.7   

YEAR OVER YEAR COMPARISON

                                      2010                      2011                      2012

Economic Growth Rate         7.85%                     7.72%                     7.2%

Expenditure                                                    N4489 (b)                N4749 (b)

Capital Ratio                                                   26%                       28%

Recurrent Ratio                                               74%                       72%

Deficit as GDP%                                              2.96%                     2.77%

Inflation Rate                                                                               9.5%

Oil Production                     2.35mbpd              2.45mbod           2.48mbpd

Oil Price                                                         $75/b                     $70/b

• Mbpd = million barrels per day

CAPITAL PROJECTS 2012 – 2016            N                           %

TOTAL                                                 3200.0 206.5            100

Public                                                  1900.0 122.6            59%

Private                                                 1300.0 83.9             41%

REVENUE COLLECTION                                N                                  $

FG Revenue Collection                            N9406.0                  $60.7

Available for 2012 Budget                        N3466.0                  $22.4