At least 34 measurable and veritable priority actions have been identified to achieve the implementation of the 2016 budget under six thematic areas, the Federal Ministry of Budget and National Planning said today.
Speaking at the presentation of the breakdown on the 2016 Budget and the Budget Strategic Implementation Plan (SIP) on Thursday in Abuja, the Minister of Budget and National Planning, Sen. Udoma Udo-Udoma said the implementation of the budget would be done under six major strategic invention areas in the SIP to revive the economy.
Udoma explained that SIP for the 2016 budget of change is an implementation plan for a road map of key macroeconomic and sectoral policies.
His words: “It is a strategic target for the 2016 fiscal year. “The plan will place the economy on the upward trajectory as it is repositioned for change, inclusive growth and sustainable development.’’
The six areas as listed by the minister are; policy environment; national security and governance; economic diversification; priority critical infrastructure; oil and gas reforms; ease of doing business and social investment.
READ ALSO: Buhari Signs 2016 Budget
Udo-Udoma also averred that the government of Nigeria had set time limits to achieve self-sufficiency and net export of a certain number of agricultural produce and items to diversify the economy.
“Rice -2018, tomato paste-2016, wheat-2019 and increase local production of Maize, Soya, poultry and livestock, so as to achieve self-sufficiency but the deadlines will be announced in due course.”
Vanguard Newspaper gathered that the government would optimise 7,000 megawatts installed power generation capacity and provide facilities required to transmit and distribute it in one year.
This is just as the minister added that the government would distribute the capacity through privatisation and concessioning under its priority strategies in power, rail and roads sectors.
“It will ensure that tariff includes all costs of transmission, generation and gas at new price and that DISCO cost required operating, maintaining and upgrading distribution network. “The government will complete the Kaduna-Abuja and the Ajaokuta-Warri rail lines scheduled for 2016; revise the National Rail Master Plan and finalise negotiations for Lagos-Kano and Lagos-Calabar rail projects.’’
“It will ensure delivery of 2,193 kilometres of federal roads across 31 projects scheduled for 2016 (through public works and other interventions) and explore Private Public Partnership options for completing other projects.
“It will also ensure the completion of the rehabilitation of four airports (Abuja, Kano, Lagos and Port Harcourt) and explore option for concessioning of the airports.
“The government will undertake the construction of 3,552 Mixed Housing Units as pilot scheme in the 36 states and FCT under the National Housing Programme in a secured and planned environment,’’ the minister said.
Some key allocations in the 2016 budget include: Ministry of power, works and housing, N456.93billion, transpiration, N202.34billion, defence N443.07billion, interiors N513.65billion, education N403.16billion, health, N250.06billion, agriculture and rural development, 75.80billion, solid minerals N16.73billion, youth and sports development, N75.79billion, water resources, N53.30 billion and special intervention programmes of N500billion.
The budget is predicated on an oil production benchmark of 2.2million barrels per day at $38 per barrel and an exchange rate of N197 naira to a dollar.