A sum of N4.642tn was proposed by the Executive to the National Assembly for the 2014 financial year. Here is a quick guide to the Nigerian budget:

1. The budget is an estimate of how government plans to raise revenues, spend funds as well as meets its debt obligations over a certain financial period. Government plans to spend less in 2014 compared to the previous year(from 4.877tr in 2012 down to 4.642tr). Has governance shut down as elections come closer?

2. Nigeria's recurrent expenditure (personnel costs, ministerial overheads, debt servicing) has always exceeded the capital expenditure for infrastructure and public facilities. While the recurrent expenditure is projected to rise in 2014, capital expenditure goes down.

3. .How do we get capital budgets to perform? Note that recurrent expenditure (salaries and running costs) gets 95-100% performance. What suffers is the capital expenditure which directly affects every citizen such as a road, clinic, school building etc. Capital budget performance stood at 34% in 2012.

4.The National Assembly without any detailed breakdown takes N150bn yearly since 2011. N150bn is higher than 25 individual state budgets which cater for an average population of 5m people.

5. State House budget is an example of lack of disregard for taxpayers funds who demand efficient service delivery. Having 100 vehicles in the Presidential fleet, isn't that too much?

Items in the State House Budget (Naira)
ITEM AMOUNT
PURCHASE OF 2 NOS. ANIMALS (WILDLIFE) 14,500,000
CAR TRACKER FOR 100 PRESIDENTIAL GROUND FLEET AND UTILITY VEHICLES 25,000,000.00[i][/i]
UPGRADING AND MAINTENANCE OF VILLA ZOO 8,000,000
UPGRADE OF VILLA FACILITIES 1,500,000,000
PURCHASE OF CRESTED CUTLERY, FLATWARE & GLASSWARE 76, 375,000.00


http://www.yourbudgit.com/posts/view/8

My God!! If not for d fact that I am a man, I would have shed tears on seeing this. Smh for dis lack of administrative foresight nd extravagance.