Budget Breakdown per Daily Trust

President Goodluck Jonathan, this afternoon, presented the proposed 2012 budget to the joint session of the National Assembly.

The proposed 2012 budget stands at N4.749 Trillion naira, representing about 6 percent increase over the N4.48 Trillion in 2011.

The petroleum subsidy allocation was not included in the budget further confirming that subsidies on petrol will likely be abolished by this month, sending prices of petrol to figures in the region of between N140-N150 per litre from the current N65 per litre.

The House will now deliberate on the proposal and return the proposal to the President after their deliberations.

While delivering his speech before the presentation, Jonathan said that "the 2011 elections, the inauguration of the new administration as well as constitutional amendment processes, all affected the full implementation of the 2011 budget" He also said "the 2012 budget will be a stepping stone to Nigeria's transformation".

Speaking earlier on the determination of the National Assembly to ensure the full implementation of the 2012 budget through their oversight functions, Senate President David Mark remarked that Nigeria has "what it takes to be a world power, but we have never really tasked ourselves in this regard."


The 2012 Fiscal year budget breakdown:

Capital Expenditure: N1.32 Trillion
Recurrent (non debt) Expenditure: N2.472 Trillion
Statutory Transfer: N398 Billion (What does this mean - National assembly?)
Debt servicing: N560 Billion (Nigeria spends more on debt servicing than on education and health)
Total = N4,749bn (N4.749trn)


Other sectors
Security: N921.91 Billion (Roughly US$5.7bn on defence or security.  The biggest sector in the budget) - defence was N348bn in 2011 budget?
Education: N400.15 Billion (vs N398bn for statutory transfer - National assembly?)
Health: N282.77 Billion
Works: N180.8 Billion
Power: N161.42 Billion
Agriculture: N78.98 Billion
Niger Delta: N59.7 Billion
Petroleum Resources: N59.66 Billion
Transportation: N54.8 Billion
Aviation: N49.23 Billion
FCT : N45.59 Billion
Water Resources: N39 Billion
Science and Tech: N30.84 Billion
Land and Housing: N24.9 Billion
Communication and ICT: N18.31 Billion
TOTAL FOR OTHER SECTORS = N2,438.9bn
UNALLOCATED ITEMS = N2,310.1bn (this is a rounding figure to match up to the total budget)
TOTAL BUDGET = N4,749bn

Source: http://www.dailytrust.com.ng/index.php?option=com_content&view=article&id=149837:jonathan-presents-n475trn-budget-to-nassno-provision-for-subsidy&catid=2:lead-stories&Itemid=8

Security: N921.91 Billion

see contracts for the generals!!

If N1.3 trillion was spent on subsidy from Jan 2011 to Oct 2011, we are assuming this cost or similar will be saved over same period of time next year i.e a budget year. This savings should naturally feature in the fiscal planning of Government - especially one hinging "massive" capital spendings as the main motivation for subsidy removal. When N1.3 trillion is over 25% of the last budget at 4.48 trillion, why has the 2012 budget unambitiously only increased by 6% ?

Again, the argument of subsidy removal is that money saved will be used for "massive spending" on capital projects. This budget is very flimsy as far as that actualisation of that consideration is concerned and one does not need to be a Rocket Scientist to note, already, that next year will be 'interesting' to say the least.

Defence = N921.9 (Defence is bigger than Education, Health and Works combined).

Education =  N400
Health = N283
Works = N181
TOTAL = N864

No wonder the soldier was standing behind GEJ, Defence is bigger than the next three biggest sectors combined!

Mr presido is really has proven to me he is clueless! How can he budget 900 and somethin billion naira( thats 20% of the budget) on security only while he is givein power less than 4%. Does he know that the problem of insecurity can only be solved when ppl have a better standard of livin, electricity, jobs, education, quality health care, etc. But instead he is removin fuel subsidy and increasin security fundin! Abeg na who de advise him cos from this i can see they dont like him.

This budget speech doesnt look sound, especially in light of the "subsidy removal".

If as Gbawe says, subsidy was N1.3trn for 10 out of 12 months this year and the subsidy is being removed next year.  That is at least N1.3trn not being spent - why is this budget then 6% higher than 2011 budget (which had the subsidy provided - even if only notional)?.

What is Nigeria's actual spend for 2011, what is our borrowings and how does this 2012 budget compare to 2011 actual, ?

Correct me if I'm wrong but shouldn't the petroleum subsidy allocation money have moved directly into the Capital Expenditure account since their claim was to free up money for infrastrucural development/building? How will that money be accounted for now?

Also what is "Niger Delta" account?

Chyz*:

Correct me if I'm wrong but shouldn't the petroleum subsidy allocation money have moved directly into the Capital Expenditure account since their claim was to free up money for infrastrucural development/building? How will that money be accounted for now?

Also what is "Niger Delta" account?

lol na today

NDDC, has it own minitry and they have to be paid.

imagine fct too getting a similar amount

2012 Fiscal year budget breakdown:
Capital Expenditure: N1.32 Trillion,Reccurent(non debt) Expenditure: N2.472 Trillion,Statutory Transfer: N398 Billion,Debt servicing: N560 Billion
Other sectors
Security: N921.91 Billion
Power: N161.42 Billion
Works: N180.8 Billion
Education: N400.15 Billion
Health: N282.77 Billion
Agriculture: N78.98 Billion
Water Resources: N39 Billion
Petroleum Resources: N59.66 Billion
Aviation: N49.23 Billion
Transportation: N54.8 Billion
Land and Housing; N24.9 Billion
Niger Delta: N59.7 Billion
Science and Tech: N30.84 Billion
FCT : N45.59 Billion
Communication and ICT: N18.31 Billion

The over 900billion in the budget for security should not surprise anyone. I think GEJ and his cronies already envisage massive protests and strikes after subsidy removal, therefore increasing the manpower and weaponry to crush whoever is against the govt plans. 2012 is goin to be really interesting

Now let turn this tyms table on its head,Remove fuel subsidy u invite gain what and your losses  will be what.
The wheel that will turns the economy is investment in tech, job creation/hence tax, road linkage, regular power spp. Etc, etc,
all these are totally absent in this budget.
The present admin lame fight on security will only reduce the countrys ability to increase present growth.
This budget is below par in my judgement.

The over 900billion in the budget for security should not surprise anyone. That money is to amass enough weaponry and ammunitions to resist all opposition to fuel subsidy. Nigerians shd b careful when goin out to protest, remember the arab awakening

How would you fight Boko Haram, kidnappers, armed robbers and ritualists? With your teeth? The defense budget seems okay given the acute insecurity in the land

FCT budget should be depleted and added to Agriculture
Niger Delta budget should be left intact. Those who brew the beer need to drink it more (9 states are involved here)

What is land and housing budget? The feds have no business claiming to build houses for anyone. Land for what (okay may be for ecological disaster mitigation such as erosion, flooding and desertification)? Otherwise should be scrapped and added to Health and Science and Techhnology.

Except by ''transportation'' they mean reviving the rail system, that transportation budget should be tweaked significantly and used to augment power.

If N1.3 trillion was spent on subsidy from Jan 2011 to Oct 2011, we are assuming this cost or similar will be saved over same period of time next year i.e a budget year. This savings should naturally feature in the fiscal planning of Government - especially one hinging "massive" capital spendings as the main motivation for subsidy removal. When N1.3 trillion is over 25% of the last budget at 4.48 trillion, why has the 2012 budget unambitiously only increased by 6% ?

Again, the argument of subsidy removal is that money saved will be used for "massive spending" on capital projects. This budget is very flimsy as far as that actualisation of that consideration is concerned and one does not need to be a Rocket Scientist to note, already, that next year will be 'interesting' to say the least.

I guess this link would make it clearer for you.
http://www.menafn.com/qn_news_story.asp?storyid=%7B50d5b76b-b986-45f5-8bad-b3dac5be6eec%7D

The monies freed up would be managed by a board and so its not gonna be in the bugdet

What was the defence budget last year?

Businessday puts the figure at N348bn - is this comparable to this year's N920bn for security.

Military expenditure in Nigeria has gone up by 32 percent to N348 billion in 2011 to consolidate the country’s ranking as 57th globally and the largest spender in the Economic Community of West African States (ECOWAS) bloc.


http://www.businessdayonline.com/NG/index.php/news/76-hot-topic/24131-nigerias-defence-budget-increases-32-ranks-57th-globally

The budget for education last year was N304.3bn; for 2012, it is N400.15bn.

Agriculture got N38.5 in 2011, in the 2012 budget, it gets N78.98bn.

Health got N203.34 in 2011; it gets N282.77bn in 2012.

Power got N99bn, in 2012 it gets N161.42bn.

I could go on and on, it is obvious that the 2012 budget is quantums better than the 2011 one and very rightly focused on development; but the OP only wants to make an illiterates analysis, so he cherry picked only a few items from the budget. Not stopping there, he did not give a full breakdown of the security allocation and is going around lying that it is the defence allocation. For your info, the security allocation covers the police, SSS, the various branches of the army and so forth; and while there is a naturally expected increase from last year, it is very reasonable.

Anybody who wants a rational argument not backed up by voodoo logic and stup!dity is free to engage me. Lets bandy real figures and show concrete areas of improvement. I don't wish to argue with anybody that thinks the threat of boko haram can be curbed without spending money; maybe they wish to invoke okija methods or some similarly cuckoo land "solutions."

VoodooDoll:

This budget speech doesnt look sound,  especially in light of the "subsidy removal".

If as Gbawe says, subsidy was N1.3trn for 10 out of 12 months this year and the subsidy is being removed next year.  That is at least N1.3trn not being spent - why is this budget then 6% higher than 2011 budget (which had the subsidy provided - even if only notional)?.

What is Nigeria's actual spend for 2011, what is our borrowings and how does this 2012 budget compare to 2011 actual,  ?

Chyz*:

Correct me if I'm wrong but shouldn't the petroleum subsidy allocation money have moved directly into the Capital Expenditure account since their claim was to free up money for infrastrucural development/building? How will that money be accounted for now?

Also what is "Niger Delta" account?

Indeed and if one remembers that the benchmark for crude, for the 2012 budget is $75.00 while it was $65 for the 2011 budget ($10.00 less) what subsidy removal savings has the 2012 budget shown? $10.00 is more than 10% of $65.00 and this , on paper, easily account for the 6%increase in the 2012 budget !!!! No savings from fuel subsidy "removal" in sight !!!! This Government is going to be in serious trouble !!!!


http://sweetcrudereports.com/2011/09/16/nigeria-sets-2012-budget-on-75b-oil-price-benchmark/

Nigeria sets 2012 budget on $75/b oil price benchmark

16 September, 2011, Sweetcrude, Abuja- [size=16pt]The Federal Government has set an oil production target of 2.48 million b/d and oil price of $75 per barrel, for the purposes of revenue projections in the 2012 budget, the country’s Finance Minister Ngozi Okonjo-Iweala said Friday.[/size]

This compared to production of 2.3 million b/d and oil price benchmark of $75/barrel benchmark adopted in the 2011 budget.

Okonjo-Iweala, who also doubles as the head of the Nigerian government’s economic team, told reporters after a meeting on four-year economic plan for country, that the 2012 budget targets 7% growth in gross domestic product, the state radio reported.

She said that projections in the 2012 budget had been set with consideration given the global environment.

Nigeria’s oil production has been climbing steadily this year, with the National Bureau of Statistics reporting on Thursday that output averaged 2.45 million b/d by the second quarter.

^
Can you look at the last post I made before the unfortunate thing you posted above?
Desperation go kill una.

What was 2011 Budget spent on by the way?

Beaf:

The budget for education last year was N304.3bn; for 2012, it is N400.15bn.

Agriculture got N38.5 in 2011, in the 2012 budget, it gets N78.98bn.

Health got N203.34 in 2011; it gets N282.77bn in 2012.

Power got N99bn, in 2012 it gets N161.42bn.

I could go on and on, it is obvious that the 2012 budget is quantums better than the 2011 one and very rightly focused on development; but the OP only wants to make an illiterates analysis, so he cherry picked only a few items from the budget. Not stopping there, he did not give a full breakdown of the security allocation and is going around lying that it is the defence allocation. For your info, the security allocation covers the police, SSS, the various branches of the army and so forth; and while there is a naturally expected increase from last year, it is very reasonable.

Anybody who wants a rational argument not backed up by voodoo logic and stup!dity is free to engage me. Lets bandy real figures and show concrete areas of improvement. I don't wish to argue with anybody that thinks the threat of boko haram can be curbed without spending money; maybe they wish to invoke okija methods or some similarly cuckoo land "solutions."

I am glad you pulled those numbers out of your a.r.se. As citizens we deserve a better analyses of the budget, so far we have had a semi-illiterate president give a speech without breakding down the numbers.  Ordinary inflation will see an uplift of the numbers but MOROONIC BEAF will have us believe 2012 is better than 2011 when both budgets were prepared by the same mooronic Man!

I asked for comparison to the 2012 security budget and you reply with Insults.  This is typical of the b.u.f.fo.ons that GEJ has employed and appointed.  Since your mouth is close to the seat of power, why don't you educate us rather than insult us. It is our taxes that keep you and your moorinic principal in gucci. Keep letting a soldier stand behind your principal ok.  ODE!

So, let me get this straight: There's a Security Budget, a Land & Housing Budget, a Water Resources Budget, a Science & Tech Budget, a Health Budget, then there's an FCT Budget? What exactly is this FCT Budget for if not also providing the above stated services? Shouldn't the above stated monies cover for the FCT, or is there something I'm missing here?

Beaf:

The budget for education last year was N304.3bn; for 2012, it is N400.15bn.

Agriculture got N38.5 in 2011, in the 2012 budget, it gets N78.98bn.

Health got N203.34 in 2011; it gets N282.77bn in 2012.

Power got N99bn, in 2012 it gets N161.42bn.

I could go on and on, it is obvious that the 2012 budget is quantums better than the 2011 one and very rightly focused on development; but the OP only wants to make an illiterates analysis, so he cherry picked only a few items from the budget. Not stopping there, he did not give a full breakdown of the security allocation and is going around lying that it is the defence allocation. For your info, the security allocation covers the police, SSS, the various branches of the army and so forth; and while there is a naturally expected increase from last year, it is very reasonable.

Anybody who wants a rational argument not backed up by voodoo logic and stup!dity is free to engage me. Lets bandy real figures and show concrete areas of improvement. I don't wish to argue with anybody that thinks the threat of boko haram can be curbed without spending money; maybe they wish to invoke okija methods or some similarly cuckoo land "solutions."

Yes you're right Security is a massive problem, I would argue though that it's not 10x more of a problem to Nigeria's development as let's say power or education, which is what the numbers in the budget say. Let's not forget it's "capital" expenditure, it does not include the wages for the police, army, SSS etc.

So what's the plan? To buy more Robotic equipment or to actually employ more officers? It's more of a business as usual budget IMO- 15% for 150 million people is hardly going to achieve much.

babasoty:

I guess this link would make it clearer for you.
http://www.menafn.com/qn_news_story.asp?storyid=%7B50d5b76b-b986-45f5-8bad-b3dac5be6eec%7D

The monies freed up would be managed by a board and so its not gonna be in the bugdet

We will see how this will work in practice. Fuse the projected savings into the budget so it is then easy to judge implementation of the budget as central achievements of Government. That is what I expected to happen because what you show is just a way to ensure no one can appreciate what is projected savings from subsidy "removal" that will be directly applied to "massive" capital spending . With the NNPC steeped in so much corruption and lack of transparency, Making so called savings from subsidy to work outside the budget simply means what we are told is what we will have to accept. That, directly, is what has led to the situation today in the affairs of government. Simply another NDDC debacle in my opinion if Government has decided "Independent" board will supervise savings from subsidy removal. The NDDC is somewhat an "independent" board also. Yet no one can point to the "development" the ND has seen through its effort.

Nchara:

How would you fight Boko Haram, kidnappers, armed robbers and ritualists? With your teeth? The defense budget seems okay given the acute insecurity in the land
Except by ''transportation'' they mean reviving the rail system, that budget should be tweaked significantly and used to augment power.

certainly not by putting more more into the generals to appease them, or what is the money for exactly? ransome fees?

And to be honest, this budget is sooo depressing. The recurrent expenditure is still almost twice the capital expenditure. For how long must we go on like this?

Praises were sang last year when the 2011 budget was announced. People shouldn't have any grouse with the structure of the budget per se but it's implementation.

VoodooDoll:

I am glad you pulled those numbers out of your a.r.se. As citizens we deserve a better analyses of the budget, so far we have had a semi-illiterate president give a speech without breakding down the numbers.

I asked for comparison to the 2012 security budget and you reply with Insults.  This is typical of the b.u.f.fo.ons that GEJ has employed and appointed.  Since your mouth is close to the seat of power, why don't you educate us rather than insult us. It is our taxes that keep you and your moorinic principal in gucci. Keep letting a soldier stand behind your principal ok.  ODE!

Lol! I thought you were the one doing the analysis! No?
Next time don't come on the web to make stories up, it only makes you look either silly or barely educated.

Any intelligent person would have done a year by year comparison, which is what I've partially done and is making you so angry. Its best not to apply voodoo and hysterics where cold hard logic is required.
If we continue with the year by year comparisons, you would only end up looking foolish, because compared to Yar Adua's last budget and the ones before, this budget is solid gold.
You wanna go for it, or you gonna chicken out?

^^^^^^^
ODE 

You want me to do your job,  Mooroon. Politics is gladiatorial.  Your principal has brought a budget that is rubbish and I am shredding it and you now want me to do your job. On a year by year basis I am sure it would show we are worse off. I dare you do to a year by year basis. GO ON MAKE MY DAY PUNK! 

Who are those that sang praises when the 2011 Budget was announced?

VoodooDoll:

^^^^^^^
ODE

You want me to do your job, Mooroon. Politics is gladiatorial. Your principal has brought a budget and I am shredding it and you now want me to do your job, PUNK!

It looks more like you are shredding yourself. Shredding a budget takes self application with the presentation of facts and figures; not a market womans yammerings and wild-eyed histrionics.

I expect you'll be balancing your pot belly on your thin lil k-legs at Eagle Square in the name of "revolution." No?
Lolzzzzzzzzzzz! Comical shiit!

Bawss1:

Praises were sang last year when the 2011 budget was announced. People shouldn't have any grouse with the structure of the budget per se but it's implementation.

I go with that 90%. We should question the allocations, even though the implementation is much more important.

I thought Madam dearest said is going to make Nigeria leaves within the limit of his means-The question is do we take into cognizant the effect of inflation in our economy trend? if yes! then why all these big figures? definitely those leading affairs of this nation are reading from the back book and as well bamboozling Nigerians due to their incapability.
Im sorry sorry o, im sorry for Nigeria, !

Nchara:

How would you fight Boko Haram, kidnappers, armed robbers and ritualists? With your teeth? The defense budget seems okay given the acute insecurity in the land

So you admit GEJ was lying when he claimed that Boko Haram is fast becoming a non-issue?

You see the moronic folks we have in power now?

We've had the worst ever NECO and WAEC results this year. We have reports of a shocking decline in our tertiary education institutions. Our secondary schools are retrogressing badly.
Yet Education is not given any special attention in this year's budget!