By Aminu Magashi Garba
Yesterday President Muhammadu Buhari presented the much awaited 2016 budget to a joint session of the National Assembly.
“I am honoured and privileged to present the 2016 Budget proposal. This is my first address before this joint session of the National Assembly. I have come here today, not only to address members of the National Assembly, but also to speak directly to the men and women who placed us here……..I know the state of our economy is a source of concern for many. This has been further worsened by the unbridled corruption and security challenges we have faced in the last few years. From those who have lost their jobs, to those young people who have never had a job, to the people in the North East whose families and businesses were destroyed by insurgents, this has been a difficult period in our nation’s history, lessons that we must not forget or ignore, as we plan for the future” PMB said.
He presented a 2016 budget of N6.08 trillion with a revenue projection of N3.86 trillion resulting in a deficit of N2.22 trillion and reiterated that he will devote a significant portion of the recurrent expenditure to institutions that provide critical government services. “We will spend N369.6 billion in Education, N294.5 billion in Defense; N221.7 billion in Health and N145.3 billion in the Ministry of Interior. This will ensure our teachers, armed forces personnel, doctors, nurses, police men, fire fighters, prison service officers and many more critical service providers are paid competitively and on time” PMB said.
With this proposal the health sector will gulf 3.65% of the total budget which is a reduction from the 2015 proposal of N278.8b accounting for 6% to health in the 2015 proposed budget of N4.46t and very far from the benchmark of 15% Abuja Declaration.
He rounded up his presentation with welcoming a responsive feedback and criticisms.
