schools, thereby, enhancing the provision

 23. As an emergency measure, to address the chronic shortage of teachers in public schools across the country, we also will partner with State and Local Governments to recruit, train and deploy 500,000 unemployed graduates and NCE holders. These graduate teachers wi webapex.net ll be deployed to primary schools, thereby, enhancing the provision of basic education especially in our rural areas.

24. We also intend to partner with State and Local Governments to provide financial training and loans to market women, traders and artisans, through their cooperative societies. We believe that this segment of our society is not only critical to our plan westernmagazine.org for growing small businesses, but it is also an important platform to create jobs and provide opportunities for entrepreneurs.

25. Furthermore, through the office of the Vice Presi ysin.org ent, we are working with various development partners to design an implementable and transparent conditional cash transfer program for the poorest and most vulnerable. This program will be implemented in phases. Already, the compilation of registers of the poorest persons is ongoing. In the coming weeks, we will present the full programme, which will include our home-gro v wn public primary school feeding and free education for science, technology and education students in our tertiary institutions. Indeed, this will mark a historic milestone for us as a nation.

The 2016 Budget

26. Distinguished members of the National Assembly, I now present, the 2016 Budget proposals of the Federal Government. Based on the assumptions I presented earlier, we have proposed a budget of N6.08 trillion with a revenue projection of N3.86 trillion resulting in a deficit of N2.22 trillion.

27. The deficit, which is equivalent to 2.16% of Nigeria’s GDP, will take our overall debt profile to 14% of our GDP. This remains well within acceptable fiscal limits. Our deficit will be financed by a combination of domestic borrowing of N984 billion, and foreign borrowing of N900 billion totaling N1.84 trillion. Over the medium term, we expect to increase revenues and reduce overheads, to bring the fiscal deficit down to 1.3% of GDP by 2018.

28. In 2016, oil related revenues are expected to contribute N820 billion. Non-oil revenues, comprising Company Income Tax (CIT), Value Added Tax (VAT), Customs and Excise duties, and Federation Account levies, will contribute N1.45 trillion. Finally, by enforcing strict compliance with the Fiscal Responsibility Act, 2007 and public expenditure reforms in all MDAs, we have projected up to N1.51 trillion from independent revenues.

29. Although we are working to diversify our economy, we will not lose sight of the need to restructure the oil and gas sector which has been marred by corruption and plagued with inefficiencies. Accordingly, I have directed the Petroleum Products Pricing Regulatory Agency (PPPRA) to adjust its pricing template to reflect competitive and 

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Make track of where you are with regards to fitness

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