Jonathan presents 4.5tr budget to Assembly next week

By Emmanuel Ogala

December 10, 2010 01:07AM

President Goodluck Jonathan will, Tuesday next week, present the 2011 budget estimate of N4.56 trillion to a joint session of the National Assembly.

In a letter to leaders of both chambers, dated December 8 2010, the president asked the Speaker and the Senate President to let him address a joint session of the national assembly at noon on Tuesday next week.

At the Federal Executive Council meeting last Wednesday, the government approved a budgetary proposal of N4.56 trillion for the 2011 fiscal year. The figure is 10.27% less than that of 2010, but fits into the 2011-2013 Medium Term Fiscal Frame.

Wednesday’s approval signifies the commencement of the implementation of the 2011-2013 Medium Term Fiscal Framework (MTFF) and Fiscal Strategy Pare (FSP), the revenue and expenditure frameworks of the government as agreed to by FEC.

According to the these documents, the 2011 budget will have an increased non-debt recurrent expenditure compared to the 2010 budget. The recurrent non-debt expenditure increased by 6.77% to N2.849 trillion with major increase in personnel cost and lower overheads.

Recurrent expenditure has been on the increase in recent years and this trend might persist in the medium term as the wage increase for civil servants, medical personnel, university lecturers etc. is fully implemented.

“To manage this, the Government is to set up a Committee to rationalise recurrent expenditure.” Notwithstanding complaints by policy makers, the capital expenditure decreased by 38.6% to N1.083 trillion. Statutory transfer is lower at N179.78 billion, while debt service recurrent is also lower at N517.07 billion.

Return of joint sessions

In addition to the budget, the president also forwarded a bill to establish the Nigeria Sovereign Investment Authority which he said will “build a savings base for the future generations, enhance development of the infrastructure sector in Nigeria, assist fiscal stability in certain circumstances and for related matters.” The budget presentation is coming late, but if successfully presented to a joint session of the national assembly, it will mark a return to the traditional method of budget presentation which was discarded last year following the inability of both chambers of the Assembly to agree on a venue.

Since 1999, the president had always addressed a joint session of the legislators in the larger House of Reps chambers but last year the Senate insisted that the address take place in its chambers.

http://234next.com/csp/cms/sites/Next/Home/5652084-146/jonathan_presents_4.5tr_budget_to_assembly.csp

It's already that time for our politicians to sign another budget, but never give account, to the Nigerian people, of what happened to the last budget?

whats the level of 2010 budget implementation? well i can say the level of non execution was high whilst that of embezzling was also high with non impact feeling implementation on the masses. 2011, they'll have plenty to use for election rigging

Kobojunkie:

It's already that time for our politicians to sign another budget, but never give account, to the Nigerian people, of what happened to the last budget?

They already gave account
It is in the public domain.

Do a search and you will find it

Stop acting stupidly on the WWW.

Mrs. Kobojunkie Rambler

toba:

whats the level of 2010 budget implementation? well i can say the level of non execution was high whilst that of embezzling was also high with non impact feeling implementation on the masses. 2011, they'll have plenty to use for election rigging

I don't believe the government is going to admit to that being the case. you should have seen the case made for the 2009 budget and Government achievements. I suspect this was what may have been read to the nation. Problem is it seems to contain while a lot of falsehoods.

http://www.budgetoffice.gov.ng/budget_update/UMY%20-%202010%20BUDGET%20PRESENTATION%20SPEECH.pdf

[size=13pt]REVIEW OF IMPLEMENTATION OF THE 2009 BUDGET[/size]
Implementation of the 2009 Budget has been challenging with revenue from both oil and non-oil sources falling well below projections. On a positive note, oil prices recovered during the course of the year from a low of US$37/barrel recorded in December 2008 to the present level of about US$79/barrel. However, oil production in our country suffered numerous disruptions during the first half of 2009. Non-oil revenue receipts were affected by the global economic downturn which impacted on the domestic business environment. Consequently, both oil and non-oil revenues were about 17% and 21%, respectively, below budgeted levels as at the end of the third quarter.

On the expenditure side, while budgetary allocations have been promptly released to the MDAs, actual utilization has been below expectation. In response, this Administration has taken certain steps to ensure that MDAs diligently implement the budget as passed by the National Assembly.   The Administration devotes a cabinet meeting monthly to assess budget execution by MDAs. The procurement process has been greatly simplified with higher ministerial approval thresholds and procurement procedures decentralized to the MDAs. The Federal Ministry of Finance also produces and publishes quarterly budget implementation reports to track the progress of key projects. As a result of these measures, significant improvement in the level of capital utilization from about 20% in the first quarter to about 50% as at the end of October has been recorded. Key MDAs have also advanced the achievement of the Seven Point Agenda.[size=13pt] For instance, the Ministry of Power currently has achieved a generation capacity of 5,000MW which should improve to 6,000MW by the end of 2009.[/size] [/b]The recent Niger Delta peace initiative is facilitating enhanced gas supply to power stations across the country while the on-going installation of several substations and transformers will boost the evacuation of electricity to domestic and commercial consumers. Similarly, agriculture continues to improve and drive non-oil growth, with 5% more land under cultivation being achieved and food production increasing.

[size=13pt][b]Human capital is being enhanced by accelerating investments in qualitative education and healthcare.  We have made progress in enhancing our critical infrastructure by our on- going programme of road networks upgrade and rehabilitation, railway modernization and the dredging of the River Niger.[/size]

Rail modernization? Increased power generation capacity to 6000MW by end of 2009, accelerated investments in QUALITATIVE education and healthcare? Need I go on?

what happen to the last budget? has it in anyway better the lives of the common man. after passing it the usually sharing and looting continue but faster this tyme around becos of election

@KOBOJUNKIE,
YOU MUST BE ONE OF THOSE BENEFITING FROM THE SHAMEFUL LOOTING OF OUR TREASURY. WHERE IS THE IMPROVEMENT IN ELECTRICITY GENERATION AND DISTRIBUTION? WHERE IS THE IMPROVED QUALITATIVE EDUCATION. THE MASSES ARE SUFFERING AND YOU ARE TALKING RUBBISH HERE.

BANKOLE EMBEZZLED N9BILLION AND IT HAS BEEN SWEPT UNDER THE CARPET. LEGISLATORS ARE EARNING N1MILLION EVERYDAY BUT THE NIGERIA LABOUR CONGRESS HAD TO GO ON STRIKE TO PUSH FOR N18000 MIN WAGE FOR NIGERIANS. YOU JUST WATCH GOD WILL PUNISH ALL OF YOU IF YOU REFUSE TO REPENT AND MAKE RESTITUTION.

@ Kobojunkie: that post is all bull shit!
@ wealth123:yes they will face Gods judgement but that wasn't designed for this life time and until then what we fold our hands and watch

olly pass:

@ Kobojunkie: that post is all bull poo!

But that is the 2009 budget review you got from your government? I didn't make it up. According to your government those things listed were what your 2009 Bugdet was used to achieve. Now, let us wait for the justification of the 2010 and hope that it won't be packed full of more LIES.

We are likely not to get an account of how the money was actually spent and where other than what is contained in the review which usually is filled with nonsense.

BUDGETS HAVE BEEN SIGN OUT SINCE 1960 UNTIL DATE IT HAS NEVER BENEFIT THE COMMON MAN OF THIS COUNTRY,
9JA IS DEAD, POEPLE SHOUTING GEJ GEJ WILL DO BETTER, MR MAN PDP WILL FOREVER BE A DEVILISH PARTY,BUT WE ONLY CAN JUS KEEP LOOKING THEM BECAUSE NOBODY WANTS TO DIE.

mrblack:

BUDGETS HAVE BEEN SIGN OUT SINCE 1960 UNTIL DATE IT HAS NEVER BENEFIT THE COMMON MAN OF THIS COUNTRY,
9JA IS DEAD, POEPLE SHOUTING GEJ GEJ WILL DO BETTER, MR MAN PDP WILL FOREVER BE A DEVILISH PARTY,BUT WE ONLY CAN JUS KEEP LOOKING THEM BECAUSE NOBODY WANTS TO DIE.

its just a pity, when i watch the film spartacus(end of season1) i think this how this rulers should be treated if we want changes soonest, otherwise we will have to wait for some donkey years to come for them to be tired of looting us

The federal goverment always make the budget but not always release the money to the ministries. And the money released, most are unspent just embezzled. Hence we don't need this news.
The goverment and national assembly should not trouble themselves telling us about this kind of news. They should just determine whatever they want to spent and start sharing the money. What are we (the masses) going to gain from this kind of news? Nothing.

@ Topic:

I am not thrilled by this, it is the National Assembly members that are already salivating because they know that, at least, #3 trillion of this amount would be shared to them.

juman and wealth123 , why are you complain, you are a northerner and you are igbo, you no contribute anything now. like ibime or so ask me Jonathan want chop him papa money.

with elections round the corner what d'y'all expect? give a little here and there to secure the loyalty of some 'trouble makers'. , thats ho wthe system works and every1 else is Ok with it.

lexzy_baba:

Well i think we have all it takes to make a change and difference in our great nation, until we{the masses} stand up for ourselves and say no to all ths bullshit, trust me this people will keep looting our resources, thier are a lot of billionaires{in dollars} in nigeria undiscovered, am sure Ibori is 1 of the richest people in the world, thieves, !!!!!

Dude, Seriously aren't u tired of repeating this. No one wants to do $*it and nothing's gonna happen, not in this lifetime anyway.

Forgive me if I'm wrong, but =N= 4.5 Trillion is about £18.6 billion. That is surely peanuts for a country of 150 million people. That figure should be just for education and healthcare!!

It beggars belief that a country with a budget of  £18.6 billion can have billionaires whose incomes come solely from Nigeria; bleeding the country dry eh?! Foolish gullible Nigerians.

Becomrich?:

juman and  wealth123  , why are you complain, you are a northerner  and you are igbo,  you no contribute anything now. like ibime or so ask me Jonathan want chop him papa money.

Ridiculous statement!!! Oil revenues from Imo and Abia state contribute to this money. If you take your head outta ur arse, you'll find out that the oil producing states in Nigeria are: Delta, Beyelsa, Rivers, Akwa Ibom, Abia, Cross Rivers, Imo, Edo and Ondo.

^^^

What about Lagos?

Ode!

Dude? Stop fighting over this, cos you and i are not in their sharing formula except if you are one of them.

strangerf:

^^^

What about Lagos?

Ode!

Abeg, go sleep!!

If wishes were horses then Lagos would be an oil producing state.

http://www.economicconfidential.com/x/index.php/facts-a-figures/529-rich-and-poor-states-how-states-shared-n1-trillion-between-january-to-june-2010

Just for the record though, Lagos is doing fine as it is.

strangerf:

They already gave account
It is in the public domain.

Do a search and you will find it

Stop acting stupidly on the WWW.

Mrs. Kobojunkie Rambler

strangerf:

^^^

What about Lagos?

Ode!

Are these the only contributions that you can make as a Nigerian?

BetaThings:

Are these the only contributions that you can make as a Nigerian?

Ode
Who gives a hoot about some nincompoops passing some imaginary budget?

How does it affect me as a Nigerian living and working in the disapora

They have been passing their silly budget since time immemorial with no tangible effect on the common man. 25% of their silly budget is used to pay the salary of thier stupit parliamentarians, another 30% goes to CBN, the rest is embezzled by state governors and other influential party members. Now tell me, why should I, unlike a nincompoop like yourself, bother myself with their charade.

If they like, make dem no pass the budget, it does not affect my next meal whatsoever.

does nigeria even have that kind of money?

strangerf:

Ode
Who gives a hoot about some nincompoop passing some imaginary budget?

How does it affect me as a Nigerian living and working in the disapora

They have been passing their silly budget since time immemorial with no tangible effect on the common man. 25% of their silly budget is used to pay the salary of thier stupit parliamentarians, another 30% goes to CBN, the rest is embezzled by state governors and other influential party members. Now tell me, why should I, unlike your nincompoop self, bother myself with their charade.

If they like, make dem no pass the budget, it does not affect my next meal whatsoever.

So everybody is stupid, a nincompoop etc just by posting here. Please prove that you are using those words appropriately!

BetaThings:

So everybody is silly, a nincompoop etc just by posting here. Please prove that you are using those words appropriately!

What is ya point?

strangerf:

What is ya point?

I am too stupid to know why everybody is stupid. So please break it down. Abeg!

BetaThings:

I am too silly to know why everybody is silly. So please break it down. Abeg!

Ode

If I explain, you wont understand!

I am not going to waste my time on your stupit self

It is not my fault that you failed to make use of Awo's free education.

Stupit omo Ibo.

strangerf:

Stupit omo Ibo.

Here we go again

That just came outta the blue!! You must have a massive hard-on for Ibo's to just lapse into that rant like that (must be seeing them in your dream and all). If the hard-on in that serious, there's a lot you can do to relieve it with a tub of vaseline and your trusty right hand (or is it your left??)