The Coordinating Minister for the Economy, Dr Ngozi Okonjo-Iweala, said that the gross federally collectible revenue in 2013 budget was projected at N11.34 trillion.

Okonjo-Iweala made this known at a press briefing on the breakdown of the 2013 Budget, on Thursday in Abuja.

She said, “The gross federally collectible revenue is projected at N11.34 trillion, of which the total revenue available for the Federal Government’s Budget is forecast at N4.1 trillion.”

This she said represented an increase of 15 per cent over the estimate for 2012.

According to the minister, the projection is based on oil production of 2.53 million barrels per day compared to 2.48 million barrels per day in 2012.

“Benchmark oil price of 79 dollars per barrel, up from 72 dollars per barrel in 2012, Projected real GDP growth rate of 6.5 per cent and average exchange rate of N160 per dollar,’’ she said.

The minister said that the non-oil sector was expected to sustain the 2013 budget.

She commended the Federal Inland Revenue Services for attaining 20 per cent growth in non-oil tax revenue between 2007 and 2012.

On the expenditure provision, she said that budget made provision for an aggregate expenditure of N4.987 trillion.

This she said represented a modest increase of 6.2 per cent over the N4.697 trillion appropriated in 2012.

“This is made up of N387.97 billion for statutory transfers; N591.76 billion for debt service; N2.38 trillion for recurrent (non-debt) expenditure.

“Of which N1.717 trillion is the provision for personnel cost, while overhead cost is projected at N208.9 billion.

“And a total of N1.62 trillion has been provisioned for capital expenditure,’’ she said.

The minister added that an additional N273.5 billion had been provisioned for the subsidy reinvestment (SURE-P) programme.

Okonjo-Iweala said that with the development, the fiscal deficit was projected to improve to about 1.85 per cent of GDP in the 2013 Budget when compared with the 2.85 per cent in 2012.

She said that N497 billion was marked out for critical infrastructure such as power, works, transport, and aviation.

The minister said that another N705 billion was set aside for human capital development under education, water, agriculture and health sector

“We also allocated over N950 billion for national security purposes, comprised of [size=15pt]N320 billion for the police, [/size]and N364 billion for the Armed Forces, N115 billion for the Office of the NSA, and N154 billion for the Ministry of the Interior.

“For 2013, the SURE-P programme has a projected allocation of N180 billion, augmented by the 2012 unspent balances of N93.5 billion.

“This amount will be used to make further progress in the provision of social safety net schemes, maternal and child healthcare, youth development and vocational training for Nigerians,’’ she said.

Okonjo-Iweala said that budget had key priorities, which included the reduction in cost of governance, and debt management.

Others are infrastructure investments, job creation and the development of the manufacturing sector.

She said that the recurrent spending in total expenditure had reduced from 74.4 per cent in 2011 to 67.5 per cent in 2013 while capital spending increased from 25.6 per cent in 2011 to 32.5 per cent in 2013.

The minister said that N100 billion was saved for 2013 budget from the implementation of IPPIS.

On debt management, she said that N75 billion of maturing debt obligation payment was made last week and N25 billion had been set aside in a sinking fund to be used for retirement of maturing debt obligations in the future.

The minister said that government had reduced annual domestic borrowing to finance the budget deficit from N852 billion in 2011, to N744 in 2012, and now to N577 billion in 2013.

She said, “We are also making concerted efforts to defray the debts of our foreign missions.

“We have made a provision of N13 billion in the 2013 budget to help clear accumulated debts as at the cut-off date of June 2012.”

http://www.vanguardngr.com/2013/03/2013-budget-we-allocated-over-n950bn-for-national-security-purposes-o-okonjo-iweala/

i see the embolden...de shud just disband them, there are of no use

"She said that the recurrent spending in total expenditure had reduced from 74.4 per centin 2011 to 67.5 per cent in 2013 while capital spending increased from 25.6 per cent in 2011 to 32.5 per cent in 2013"

"The minister said that N100 billion was saved for 2013 budget from the implementation of IPPIS"

"The minister said that government had reduced annual domestic borrowing to finance the budget deficit from N852 billion in 2011, to N744 in 2012, and now to N577 billion in 2013"

Figures no dey lie. We are making progresss

mennn, see money 4.1 trillion naira in federal revenue alone is no small money
too bad we'll still be a poor country after 2013.
i think the amount allocated to capital expenditure is way too small which is a total of 1.2 trillion.
just 29% of expected revenue.
I look 4ward to the day when capital expenditure will take 70%. That's when we'll be sure of genuinely waking up the real sector.

Murphy T: i see the embolden...de shud just disband them, there are of no use

I feel the same way too but the danger is doing that now that there's terrorism in certain parts of the country. Also off-loading the current over 300,000 police men and women into the society will constitute another security risk. Nevertheless, sometime in the future, govt may be compelled to disband the current police force if they do not improve. They complain about funding but the reality is that the problem of the Nigerian Police goes beyond funding.

Beyond the hollow ritual of budgetary allocations, there's need for effective implementation and monitoring.

The police force is a typical example of how ineffective the government monitoring process...

See how Boko Haram under-develops the rest of Nigeria. See the amount of resources poured into national security because of the Boko boys. It is even more than the amount spent on critical infrastructure as power, roads etc. Mehn, i wan slap those useless Boko boys.

These people deciding affair of this country are nothing but bunch of fools.
The amount of money these set of nincompoops are announcing is hilarious and there is never a way country can work with this enormous and wasted spending of Nigeria resources.
Hyperinflation is major challenge in this country. There is no way this budget will reduce or manage inflation; this budget is situated to bring back dead N5000. Nigeria needs a lot to do. It’s just unfortunate that even those with expatriate strenght have now bought the idea of looting which they were in first place condemned.

Hullabaloo, they needs some koboko whips

Sincere 9gerian: "She said that the recurrent spending in total expenditure had reduced from 74.4 per centin 2011 to 67.5 per cent in 2013 while capital spending increased from 25.6 per cent in 2011 to 32.5 per cent in 2013"

"The minister said that N100 billion was saved for 2013 budget from the implementation of IPPIS"

"The minister said that government had reduced annual domestic borrowing to finance the budget deficit from N852 billion in 2011, to N744 in 2012, and now to N577 billion in 2013"

Figures no dey lie. We are making progresss

My broda, figures do not LIE.

I was having this argument about two weeks ago with some dufus who think madam NOI isn't doing nothing, it's good to see that we're improving.

The minister said that the non-oil sector was expected to sustain the 2013 budget.

She commended the Federal Inland Revenue Services for attaining 20 per cent growth in non-oil tax revenue between 2007 and 2012.

Seriously, if they leave this Gej and Okonjo to work, things will begin to take shape for good.

Trillions, billions, millions but i don't have 10naira 4 sugar wee i want use soak garri. How can i get the 10naira to soak garri is my biggest concern now

This is the beautifull part! We're all happy now seeing all the figures and allocations clearly but when this money starts doing down the wire to all the ministries and agencies, the thiefs spring up and start stuffing their pockets. And when we don't see progress we blame jonathan. This is the problem facing nigeria we need to solve!!!

Auntie Okonjo is definitely an under appreciated gift for Nigeria.

A quick and dirty observation of the budget leads me to believe that we are not doing all that bad, we are just TOO DAMN INEFFICIENT. Thats our problem. If you look at debt service its not that bad, but we are spending too much money to run that country. In other words we have a company that generates revenue but we have TOO Many managers and departments. Thats Nigeria's problem. We should be investing more in Cap Ex for proper infrastructure and private sector revenue generation a.o joint ventures. We need to implement a proper tax collection system which covers the private sector and not just large companies and we need to make government smaller. Thats where we are being cheated all these layers of government is where the money goes missing.

Contrary to what is made bold concerning the Police, I dont see the issue. We need to pay the police and they cant fight crime with paper bullets. If the police was making money on the budget why the bribery. No maybe a handful, but not what we think.

So much potential that country and so little derived.. Heartbreaking.

Murphy T: i see the embolden...de shud just disband them, there are of no use

You will have to "disband" the entire Nigerian society's character and organisational structures before there will be a prospect for producing a better police force among Nigerians. The pitiable psyche of the police is rooted in coups and counter coups of the Nigerian military; a decay that deteriorates more as the entire Nigerian society increasingly exhibits palpable incapacity for righting its wrongs. The Police are frustrated victims, just like any other Nigerians.

IF YOU SEND SMALL PIKIN MESSAGE YOU NO DE ASK FOR CHANGE AND THE TIN WEN YOU SEND AM.IF NO MESSAGE NO CHANGE WETIN YOU GO DO D PIKIN. ABEG PARK WELL JOO JONATHAN NA MUMU OR NA ACCOMPLICE EITHER WAY I NO SEE LIGHT WATER ROAD ETC

IF YOU SEND SMALL PIKIN MESSAGE YOU NO DE ASK FOR CHANGE AND THE TIN WEN YOU SEND AM.IF NO MESSAGE NO CHANGE WETIN YOU GO DO D PIKIN. ABEG PARK WELL JOO JONATHAN NA MUMU OR NA ACCOMPLICE EITHER WAY I NO SEE LIGHT WATER ROAD ETC AND SO I BLAME THE PESIN RESPONSIBLE ,JONATHAN COS NA HIM WE VOTE NO BE HIM CRONIES

Sincere 9gerian: "She said that the recurrent spending in total expenditure had reduced from 74.4 per centin 2011 to 67.5 per cent in 2013 while capital spending increased from 25.6 per cent in 2011 to 32.5 per cent in 2013"

"The minister said that N100 billion was saved for 2013 budget from the implementation of IPPIS"

"The minister said that government had reduced annual domestic borrowing to finance the budget deficit from N852 billion in 2011, to N744 in 2012, and now to N577 billion in 2013"

Figures no dey lie. We are making progresss

Keep deluding yourself
A developing nation with decrepit infrastructure like Nigeria spends 32.5% on captital projects and 67.5% on salaries mostly for the fat bellies in Aso Rock,Abuja and the different states copycat institutions
And this is making progress in your mind?
Fantastic!
Now we know where all the would be bridges,roads,hospitals,quality education etc is ending up

Nwa Teacher: Trillions, billions, millions but i don't have 10naira 4 sugar wee i want use soak garri. How can i get the 10naira to soak garri is my biggest concern now

but you have access to the internet and if care is not taken u're browsing with galaxy s3. Sighs

Sugar do more harm to the body than good, please buy less sugar.
Dont always 100% wait for the government or GEJ to create job for you.
Its the private sector or individual like you that build the economy.
You can help the government by creating your own job.
You can come to my village or town (agbor)in delta state. Daily labour pay is about N1,500 (N30K for 20 days hard work)

Have a nice day bros......

Sincere 9gerian: "She said that the recurrent spending in total expenditure had reduced from 74.4 per centin 2011 to 67.5 per cent in 2013 while capital spending increased from 25.6 per cent in 2011 to 32.5 per cent in 2013"

"The minister said that N100 billion was saved for 2013 budget from the implementation of IPPIS"

"The minister said that government had reduced annual domestic borrowing to finance the budget deficit from N852 billion in 2011, to N744 in 2012, and now to N577 billion in 2013"

Figures no dey lie. We are making progresss

All these yet nothing is on ground. . .I learnt most part of Nigeria is still darkness yet you keep screaming figures don't lie. . .well,figures lie when they end up in someone's else pockets at the detriment of what it's intended for.

Murphy T:
“Of which N1.717 trillion is the provision for personnel cost, while overhead cost is projected at N208.9 billion.

“And a total of N1.62 trillion has been provisioned for capital expenditure,’’ she said.

[size=20pt]So...the government is spending 2 TRILLION dollars on 18,000 civil servants and only 1.62 trillion on infrastructure for 167 million people.[/size]

Nwa Teacher: Trillions, billions, millions but i don't have 10naira 4 sugar wee i want use soak garri. How can i get the 10naira to soak garri is my biggest concern now

You had better leave your cocoon and pursue a good job.. as for me, i yaf eaten bread ati ewa..

Now that the figure is out, what is the budgeted value derivable from it?

And what is the budgeted implementation level?

When is the next good governance tour and NASS oversight visit?

Whatever happens, my name must appear on that budget implementation , amen.

Poo, poo, poo. Building Nigeria on paper, with their usual 30% implementation all of these is just crap. What happened to the 900 billion allocated to security last year? Do the police look any better. Bunch of thieving lairs.

Michaeljones36:

[size=20pt]So...the government is spending 2 TRILLION dollars on 18,000 civil servants and only 1.62 trillion on infrastructure for 167 million people.[/size]

Approximately, 2 Trillion NAIRA not DOLLAR. Dont give people cardiac arrest or High Blood Pressure.

Murphy T: i see the embolden...de shud just disband them, there are of no use

bro dont get carried away by dat figure u saw because i know 4 sure it will end up in d pockets of d police top rank & dia politician cohorts thus preventing it 4rom geting 2 d target. I tell you dont b suprised 2 even c som police junior ranks with rubber shoes in 2013. D problem lies wit dis same politians n dia top ranking police frens. We are watching