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.
Related
Gross Domestic Product Growth Rate: Growth in the sector which stalled in the second and third quarters of 2015 witnessed a considerable decline in 2015Q4; the stall in growth in 2015 is attributable
Net Foreign Exchange Flows through the Nigerian Economy: The recent fall in foreign exchange earnings reflects the decline in both oil sector receipts from CBN, and non-oil sector inflows from autonom
Internally Generated Revenue: Total internally generated revenue particularly declined across the 36 states in Nigeria, in 2015. This is attributable to the weak macroeconomic and financial conditions
Gross Domestic Product Growth Rate: The growth performance of the Oil and Gas sector has been unsteady throughout years and declined most significantly in 2015Q4, following a positive growth recorded
