President Goodluck Jonathan has proposed a total expenditure of N4.92 trillion for the 2013 fiscal year.

Addressing a joint session of the National Assembly, the president said the budget which is based on fiscal consolidation has the deficit reduced to 2.17% from 2.85% in 2012.

The budget maintained an oil benchmark of $75 per barrel as provided in the Middle Term Expenditure Framework with a reduction in the recurrent expenditure and increase in the capital expenditure.

He put the oil production at 2.53 million bpd up by 500, 000 bpd (2.48 million bpd) this year, and a global oil price of $75 a barrel, up from $72 this year.

Jonathan urged The National Assembly to accept a tighter budget because of ongoing uncertainty over oil prices.

“This threat of oil price volatility remains constant and forces us to rely on a prudent methodology when calculating the benchmark price,” he said.

“These are uncertain times in the world economy. We’ve taken necessary steps to mitigate possible negative effects … of a global recession.”

He proposed cutting recurrent expenditure to 68.7 percent of the total budget, from its current 71.47 percent.

The president also added that the government would issue a $1 billion Eurobond next year to finance a gas pipeline for domestic use.

The House of Representatives, had yesterday, adopted the recommendation of its joint committee set up to look into the 2013-2015 Medium Term Expenditure Framework and Fiscal Strategy Paper insisting on increasing the oil benchmark to $80.

Captainajama: I am impressed, I followed it from start to finish, we are waiting for passage and full implementation,and I believe that the early presentation and passage will lead to full and positive implementation. I know we can get it right....nice one GEJ. Keep up he good fight.

Demdem: Nigeria has always had beautiful budget. It didnt start today neither will it end today also. Implementation has always been our problem. even budget 2012 wasnt bad at all except the recurrent part IMO however what is our story today?

Mandelaguy: It is happening live,let me see the idiot that will say GEJ has no sense of direction, the man knows what he is doing.

Mandelaguy: Good budget,we are waiting for passage and full implementation,it will start the full transformation cycle,like. Keep saying,I have faith in GEJ he is striving to make a change. Supporting him is our best shot,so that we can shut out the bad eggs that are bent on keeping this country in the clutches of backwardness and poverty.

Vogue50: Nice one from the executive arm. We hope and believe that the executive will give a speedy passage of the bill. Fiscal year should commence by January to enable full budget implementation before December next year. There is still hope for this country .

Demdem:

U can decide to keep faith in him, no yawa. also to those of us that wants him to dissapoint us (afterall, its for our good), respect that. Again, implementation is where i will reserve my praise for and not budget preparation. thats petty.

Mandelaguy: Is this swallat reading my post at all,are all of us not pitching for speedy passage,full implementation and proper monitoring?

Mandelaguy: 2012 budget took them 5 months to pass and right thinking human beigns came after 3 months asking why there could not be full implementation. This country should learn to put things straight.

Demdem:

Oga get ur facts right. The retardeen submitted the 2012 proposals to Nass very late (Middle december 2011) and the NASS completed work by march 2012. Considering the holidays in between, i believe both Houses were fast enough ( approx 3months)

however, Kudos to the Retardeen for submitting it earlier this year than last year

http://www.thenigerianvoice.com/nvnews/77539/1/gej-presents-n4749t-2012-budget-as-nass-demands-fu.html

Demdem:

Oga get ur facts right. The retardeen submitted the 2012 proposals to Nass very late (Middle december 2011) and the NASS completed work by march 2012. Considering the holidays in between, i believe both Houses were fast enough ( approx 3months)

however, Kudos to the Retardeen for submitting it earlier this year than last year

http://www.thenigerianvoice.com/nvnews/77539/1/gej-presents-n4749t-2012-budget-as-nass-demands-fu.html

Mandelaguy: Anu mpam! Wench was the budget passed? When did retardeens like you start querying the president about full implementation? How many months did it take them to pass a budget that was supposed to take care of this year? Why am I responding to a confusion like you?

Demdem:

i know u love to be disgraced. am at home for u.

the retardeen submitted 2012 budget proposals Dec 2011

http://www.thenigerianvoice.com/nvnews/77539/1/gej-presents-n4749t-2012-budget-as-nass-demands-fu.html

the NASS finished work on the budget by march 2012 (national holidays in between ooooo)

http://www.ynaija.com/n4-88-trillion-national-assembly-passes-2012-budget/

The retardeen finally signs the budget to law April 2012 exactly a month when NASS completed their work.

http://www.thenationonlineng.net/2011/index.php/news-update/43000-jonathan-signs-2012-budget-trims-spending.html

what was ur question again fool

PrettyRita:
No budget has ever been presented earlier. GEJ discovered the problems associated with this and has taken proactive steps. On the scale of significance, national issues and holidays which adds substance to the growth of our nation. Budget was pending, and they where enjoying holidays. If it were to be constituency allowance, they would call off their holidays.

Mandelaguy: Anu mpam! Wench was the budget passed? When did retardeens like you start querying the president about full implementation? How many months did it take them to pass a budget that was supposed to take care of this year?

Demdem:

i know u love to be disgraced. am at home for u.

the retardeen submitted 2012 budget proposals Dec 2011

http://www.thenigerianvoice.com/nvnews/77539/1/gej-presents-n4749t-2012-budget-as-nass-demands-fu.html

the NASS finished work on the budget by march 2012 (national holidays in between ooooo)

http://www.ynaija.com/n4-88-trillion-national-assembly-passes-2012-budget/

The retardeen finally signs the budget to law April 2012 exactly a month when NASS completed their work.

http://www.thenationonlineng.net/2011/index.php/news-update/43000-jonathan-signs-2012-budget-trims-spending.html

what was ur question again fool

i sense u want to run away as usual. I answered ur questions but u claimed i havent. ok lets see if other NLers agree ith u then
ur questions are well-answered

Mandelaguy: Check my question fo.ol! You just aired your stupidity on this forum.

Demdem:

Did u see in my post where i actually praised the Retardeen for presenting it earlier this time around unlike the one he presented last year? look, 3 months is not too much for both houses to do justice to the budget . its in order, even with holidays they spent 3months.

Mandelaguy: Let us see what happens this time. My own is for fast and accurate implementation.

fool, av i answered ur question? if i have, why dont u just admit that u are wrong