Capital Importation And Budgetary Allocation (Oil And Gas)
Capital Importation (US$ Thousand)
Investment rise sharply in 2016Q2
Budgetary Allocation (Billion )
Capital vs Recurrent expenditure, closing the gap?
Capital Importation: Investment in the oil and gas sector has remained low since 2009. However, investments into the sector fell more deeply in 2015, on the account of persistent global and domestic challenges to the sector. However, it increased sharply in 2016Q2 on the account of increased disbursement in the sector by the CBN for the repair of damaged oil and gas pipelines.
Budgetary Allocation: Recurrent spending has continued to rise as capital spending fall (or rise marginally) in annual national budget allocation since 2009. However, considerable convergence capital and recurrent expenditure is recorded in 2016 budget, signalling government interest in improving the oil and gas sector.
Public Debt Stock and Debt Servicing: Public debt stock has steadily increased overtime; reaching over N12, 000 billion naira by 2015Q4. With the persistent fall in crude oil price and the attendant d
Public Debt-to-GDP Ratio: The ratio of Nigerias cumulative government debt to national GDP has maintained an upward trend indicating the countrys declining economic productivity and ability to repay
Purchasing Managers Index: The level of business activities declined sharply in the first half of 2016 on the account of weak economic performance. Particularly, the issues surrounding exchange rates
Appropriation Act (Budget): Capital expenditure remarkably increased in 2016 relative to preceding year, on the account of the present governments renewed commitment to infrastructure development.