The Nigerian government proposed a $30.1b national budget for 2016 with a 15% rise in expenditure compared to 2015, pledging investments in infrastructure projects, and social welfare programs, officials told local media, International Business Times reported.

The Budget and National Planning Minister, Udoma Udo Udoma said the larger budget would be sourced from an increase in non-oil revenues, and through a reduction in government spending.

“We will look at the efficiency from our revenue collecting agencies like the FIRS, in terms of company income tax, in terms of VAT, and then the difference, we will have to borrow,” Udoma said, according to Vanguard newspaper.

The draft budget framework assumes an oil price at $38 a barrel, and oil production at 2.2mb/d, and it awaits an approval by parliamentarians, Reuters informed.