Maritime Nigeria

Main Menu

  • Home
  • News
  • Interviews
  • Maritime Info
  • Photo Gallery
  • Fact
  • Profiles

logo

Header Banner

Maritime Nigeria

  • Home
  • News
    • FG Commits To Enhance NSC Regulatory Capacity

      May 28, 2025
      0
    • NPA, Dangote Agree On Port Expansion, Export Promotion

      May 27, 2025
      0
    • "Tinubu Reforms Driving Surge In Customs Revenue"-CGC

      May 25, 2025
      0
    • Sea Port Efficiency: FG To Deepen Lekki Port Channel

      May 25, 2025
      0
    • Maritime Bank Takes Off, Gets President/CEO

      May 23, 2025
      0
    • Customs Intercept N3.2Billion Illicit Drugs, Smuggled Items

      May 22, 2025
      0
    • Oyetola Engage French Ambassador On IMO Seat

      May 22, 2025
      0
    • CGC Revitalizes Seme Command, Regional Trade With SIGMAT

      May 21, 2025
      0
    • Full Implementation Of Marine And Blue Economy Policy On Course

      May 14, 2025
      0
  • Interviews
    • Nigeria Takes Leadership Of MOWCA

      Nov 18, 2021
      0
    • APM Participates in UK Trade Expo

      Oct 31, 2021
      0
    • Reps Seek Admission at MAN

      Dec 7, 2020
      0
    • NIMASA URGE SHIP OWNERS TO RENEW CABOTAGE LICENSES

      Oct 5, 2020
      0
    • FG Sacks Aboloma As NAIC Gets New EDs

      Aug 28, 2020
      0
    • Britain Celebrate Nigerian In Covid Efforts

      Jul 26, 2020
      0
    • Zuckerberg Backs Trump Against Twitter

      May 28, 2020
      0
    • NAFDAC DG Sheds Light On Chloroquine, Herbals, Masks and Covid19

      May 12, 2020
      0
    • Reps Threaten MDAs

      Feb 24, 2020
      0
  • Maritime Info
    • 2023 POP: Minister Task Cadets On Blue Economy

      Dec 15, 2023
      0
    • Rector, Trainees Excited, Laud FG On Modern Academy

      Jan 26, 2023
      0
    • Buhari Redeploys Minister As NPA, NIMASA, MAN, Others Get New Boards

      Apr 7, 2022
      0
    • World Bank Endorse Nigerian Ports, Partners Navy On Capacity Building

      Mar 19, 2022
      0
    • NIMASA Commend Nigerian Navy, Reassures On Floating Dock

      Feb 9, 2022
      0
    • MAN Unveils Lighthouse For Training of Cadets

      Jan 27, 2022
      0
    • shipping

      Singapore Strait Dangerous To Shipping-ReCAAP

      Jan 24, 2022
      0
    • Lekki Deep Sea Port Will Increase Port Efficiency-Amaechi

      Jan 24, 2022
      0
    • Fair Competition: NSC Partners FCCPC For Effectiveness

      Jan 21, 2022
      0
  • Photo Gallery
    • SERAP Calls for Probe of Entire Privatization Processes 1999-2011

      Dec 4, 2017
      0
    • IMO Election: South Africa, Kenya, Liberia, Morroco and Egypt Make Category C

      Dec 2, 2017
      0
    • Maersk Ship on Fire as Coy Launches Six Container Lifting Tech

      Nov 2, 2016
      0
    • Captured Seafarers Languish In Captivity without Ransom

      Nov 1, 2016
      0
    • Niger Delta: Militants Ask FG to Include Former Agitators in Negotiations

      Nov 1, 2016
      0
    • Self-Audit: NIMASA Set to Review 3% Freight Charge

      Nov 1, 2016
      0
    • Recession: Japanese Shipping Companies to Merge

      Oct 31, 2016
      0
    • NSC Partners ICS on Capacity Building

      Oct 31, 2016
      0
    • AGAIN, APAPA CUSTOMS SURPASS MONTHLY TARGET WITH N33B COLLECTION

      Oct 5, 2016
      0
  • Fact
    • Maritime Police Boss Celebrate Workers

      May 1, 2025
      0
    • “VIN Is A Trade Tool, Not Punitive”-Customs

      Mar 2, 2022
      0
    • Blackmailers, False Publishers and Their Agents: Court Clears Rector

      Feb 18, 2022
      0
    • MAN Unveils Lighthouse For Training of Cadets

      Jan 27, 2022
      0
    • "APM Terminals Is Beyond Moving Boxes Around"-Laursen

      Jan 24, 2022
      0
    • MWUN: Welfare, Safety Our Priority-Adeyanju

      Dec 27, 2021
      0
    • Reversing the Trend: Koko Breaks Record at NPA

      Dec 24, 2021
      0
    • Minister Demands More From MAN At Passing Out Parade

      Dec 20, 2021
      0
    • MARITIME NIGERIA TASK NIMASA ON MARITIME DEVELOPMENT

      Dec 15, 2021
      0
  • Profiles
    • CMA CGM Brings AI Onboard

      Jun 5, 2018
      0
    • Customs Notify 577 Officers of Retirement by Eguono Odjegba

      Jan 12, 2018
      0
    • Over 100 Persons Feared Dead in Mediterranean Ship Wreck

      Nov 3, 2016
      0
    • Ballast Water: Panama Signs Up

      Oct 24, 2016
      0
    • Ist Half Report: Customs generate N385.7bn revenue

      Aug 15, 2016
      0
    • Minister/MD Speeches at the Launch of NPA's CCCIS

      Jul 23, 2016
      0
    • Face off Imminent as Dakuku Warn IOCs to Sit Up or Stay ...

      Jul 22, 2016
      0
    • Hadiza, Welcome to NPA

      Jul 16, 2016
      0
    • Habib Abdullahi Sacked Again from NPA

      Jul 12, 2016
      0
  • FG Commits To Enhance NSC Regulatory Capacity

  • NPA, Dangote Agree On Port Expansion, Export Promotion

  • “Tinubu Reforms Driving Surge In Customs Revenue”-CGC

  • Sea Port Efficiency: FG To Deepen Lekki Port Channel

  • Maritime Bank Takes Off, Gets President/CEO

News
Home›News›PMB Unveils Budget

PMB Unveils Budget

By Editor
Dec 19, 2018
1034
0
Share:

The 2019 budget proposal is based on an oil production estimate of 2.3 million barrels per day and an exchange rate of N305 to a dollar

 

President Muhammadu Buhari has unveiled a federal budget of N8.83 trillion for the 2019 fiscal year with N300 billion lower that the current budget.

The figure came in the 2019 Appropriation Bill presented by the president to a joint session of the National Assembly in Abuja.

The 2018 total budget estimate was N9.1 billion.

According to Buhari, N4.04 trillion or 50.31 per cent is earmarked for recurrent expenditure and N2.03 trillion representing 22.98 per cent earmarked for capital projects.

Other estimates are N492.36 billion for statutory transfers; N2.14 trillion for debt servicing and provision of N120 billion as sinking fund.

 

He explained that the sinking fund would be used to “retire maturing bonds to local contractors”.

The 2019 budget proposal is based on an oil production estimate of 2.3 million barrels per day and an exchange rate of N305 to a dollar.

Other benchmarks are: real Gross Domestic Product (GDP) growth rate of 3.01 per cent and inflation rate of 9.98 per cent.

The total projected revenue, according to the president, is N6.97 trillion, which is three per cent lower than the 2018 estimate of N7.17 trillion.

Buhari said the expected income consisted of oil revenue projected at N3.73 trillion, and non-oil revenue estimated at N1.39 trillion.

“The estimate from non-oil revenue consists of N799.52 billion from company income tax; N229.34 billion from value added tax, and customs duties of N302.5 billion.

“We have reduced our expectations from independent revenue to N624.58 billion.

“Other revenues expected in 2019 include various recoveries of N203.38 billion; N710 billion as proceeds from the restructuring of government equity in joint ventures, and other sundry incomes of N104.1 billion,” he said.

The president explained that the total N8.83 trillion proposed expenditure for 2019 included grants and donor funds amounting to N209.92 billion.

Buhari said although the 2019 estimate was lower than the 2018 budget of N9.1 trillion, it was higher than the N8.6 trillion originally proposed by the executive to the National Assembly.

The budget deficit is projected to decrease to N1.86 trillion or 1.3 per cent of the GDP in 2019 from N1.95 trillion projected for 2018.

“This reduction is in line with our plan to progressively reduce deficit and borrowings over the medium term,” he said.

On sectoral allocation, the president said the Ministry of Interior would get N569.07billion, Defence (N435.62 billion), Education (N462.24 billion) and Health (N315.62 billion).

(NAN)

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • More
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on Telegram (Opens in new window)

Related

Previous Article

LAGOS PORTS ACCESS ROADS: Truckers bemoan brutalisation, ...

Next Article

Over 20 Million Nigerians Jobless

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Related articles More from author

  • News

    EXTORTION: A Menace On Ports Corridors, NPA Laments

    Jul 25, 2023
    By Editor
  • shipping
    FeaturedNews

    Murder At Sea As Chef Kills Captain

    Nov 25, 2021
    By Editor
  • News

    HOW NIMASA RESCUED DISTRESSED SÃO TOMÉ VESSEL

    Aug 1, 2023
    By Editor
  • News

    Modular Refinery Starts Production

    Sep 27, 2018
    By Editor
  • Maritime InfoNews

    Saraki to cheer Eagles against Iceland

    Jun 22, 2018
    By Editor
  • News

    We Wont Succumb To Blackmail, Extortion, Smear Campaigns-Rector

    Jun 19, 2024
    By Editor

Leave a Reply Cancel reply

  • FeaturedNews

    TANZANIANS TO CARRY COVID19 CERTIFICATES

  • FeaturedNews

    Tanker Collision Pose New Bermuda Worries

  • FactInterviewsNews

    Maina Mess: I Acted In Public Interest-Malami

Looking For Something?

Read From

  • Agriculture
  • Customs Operations
  • Fact
  • Featured
  • Interviews
  • Maritime Info
  • News
  • One Question
  • Photo Gallery
  • Profiles
  • sports

Just In

News

FG Commits To Enhance NSC Regulatory Capacity

Secretary to the Government of the Federation (SGF), Senator George Akume, has pledged the support of the Federal government to address and ensure that modern, the Nigerian Shippers’ Council, NSC, ...
  • NPA, Dangote Agree On Port Expansion, Export Promotion

    By Editor
    May 27, 2025
  • AfCFTA: Nigeria Launches Air Cargo Route To Boost Exports

    By Editor
    May 26, 2025
  • Canada Commends Nigeria On Anti Smuggling Efforts

    By Editor
    May 25, 2025
  • “Tinubu Reforms Driving Surge In Customs Revenue”-CGC

    By Editor
    May 25, 2025
  • Home
  • About Us
  • Contact Us
© 2013 Maritime Nigeria | All Rights Reserved