Online Journal of Social Sciences Research

ISSN 2277-0844; Volume 5, Pages 13-19; 2016

©2016 Online Research Journals

Available Online at https://onlineresearchjournals.org/JSS

Full Length Research Paper

 

Nigeria 2016 Budget Proposal: A Critique   Vahyala Adamu Tari, Wada Mato Rantan and Faruk Shakur   Department of Economics and Management Science Nigeria Police Academy, Wudil, Kano, Nigeria.   E-mail: Vahyalatariadamu(at)gmail.com; GSM: 07068944490.   Received 26 March, 2016 Accepted 17 April, 2016

The objective of this paper is to critique some areas of concern in the Nigeria 2016 budget estimate. The paper critically analyses the breakdown of the budget with the aim of identifying aspects that require serious attention and adjustment. The 2016 budget has the largest amount (6.08 trillion naira) of budgets presented so far by the Federal government and it is the first ever budget that does not solidly rely on revenue from crude oil for it financing since the discovery of crude deposits in the country. The paper reveals that for the first time, capital expenditure constitutes 30 percent of the budget as against the 9 percent of the total budget in 2015. While education was allocated 369.9 billion naira against defence with 294.5 billion naira. However, issues were raised on the level of 2.22 trillion naira budget deficit which would be financed with a borrowed fund of 1.884 trillion naira. The paper also examined some frivolous allocations that seem to constitute an issue to the budget. This paper relied on secondary sources and anchored on zero based budgeting system theory as a framework of analysis. It therefore concludes that the budget looks too luxurious considering the revenue projection of 3.86 trillion naira; the paper recommends that the administration should invest in key infrastructural development areas while it urgently diversifies the economy.   Keyword: Budget, expenditure and deficit, revenue generation, resource allocation, National Assembly and Nigeria.

Recommended Citation Tari VA, Rantan WM and Shakur F (2016). Nigeria 2016 Budget Proposal: A Critique. Online J Soc Sci Res, 5: 13-19.

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