Which sector has improved from 1999 till date. Be wasting your time debating about biro and paper work when more than half of the money will be looted as usual. Prepare for 2012. Many of you will sell your laptops and Phones to survive. COWARDS.

Which sector has improved from 1999 till date. Be wasting your time debating about biro and paper work when more than half of the money will be looted as usual. Prepare for 2012. Many of you will sell your Laptops and phones to survive. COWARDS.

I'm not even concerned about the Defence Budget. Heck if we want government not to spend anything then we just go about our business lawfully. Insurgencies are expensive to handle, rife with corruption and underhand dealings but caused by the people and this one - people hating other people. Though they may be profitng from it I don't believe Government did ask for it.

What concerns me more is the recurrent expenditure. That's the breakdown I like to see. For government to be spending 2 out of every 3 dollars we earn via oil, sweat and tears (taxes & levies) on themselves is very, very unfair. I really like to see the breakdown. I don't know what the size of governmetn is but they cannot constitute more than 1% of our population and why should this 1% corner, dictate and consume 60% of our common wealth is rude, very very rude.

Na wa o,

I think the N398bn statutory transfer line in the budget is the National Assembly.  Nigeria spends N400bn on Education and N398bn on National Assembly.

Interesting Punch Analysis below:

A Budget of Contradictions

According to the budget with the theme fiscal consolidation, inclusive growth and job creation, the Federal Government hopes to block leakages in the economy. This is removal of fuel subsidy put in other words.

Removing fuel subsidy will raise the pump price of petrol by about 100 per cent. Although the Federal Government has not been categorical on this, speculations are that the pump price of petrol will go up to N120, up from N65.

The price of petrol is going to dictate the rate of increases in other prices; yet the Federal Government hopes to achieve a single inflation rate of 9.5 per cent.

With current inflation rate from the Federal Office of Statistics at 10.5 per cent, the Federal Government hopes to drive down inflation rate. Except the inflation rate will be contrived, it sounds preposterous that the Federal Government targets that fuel price and inflation rate will be going in opposite directions in 2012.

Another quick contradiction in the 2012 is seen in the debt target. Rightly, Jonathan lamented that the domestic debt had been growing at an alarming rate in recent years. The clearest evidence of this is that in 2012, the Federal Government will spend N560bn to service debt which stands at more than $37bn.

What the Federal Government has done over the past few years was to show foreign debts the exit door and open the doors too large for domestic debts. The worst part of it was that the debts were not tied to project and could have been used on recurrent expenditure.

As much as the president spoke of curtailing domestic debt, he gave room for the government to accumulate more debt by saying that the debts should not go beyond 30 per cent of Gross Domestic Debt.

At the moment, the debt to the GDP ratio is slightly less than 20 per cent. With a latitude of 30 per cent debt to GDP ratio, the government can add up to 50 per cent of the current debt level. If care is not taken, the Federal Government will increase the rate of foreign borrowing as it cuts down on domestic borrowing.

Another contradiction can be seen in the allocation of only 1.66 per cent of the budget to agriculture and rural development. At the same time, the Federal Government wants to grow the GDP by 7.2 per cent. This growth rate is expected to be driven by non oil production.

In Nigeria, non oil production hardly goes beyond agriculture as the solid minerals sector is yet to make any meaningful impact.  Agriculture should therefore have got better allocation if a substantial rate of the growth is hinged on it. 

Expectedly, security got the lion share of 19.41 per cent. Although the United Nations had always advocated that countries should spend less on security, the times are not normal in Nigeria. Even then, 19.41 per cent on security for a country that lacks basic infrastructure is worrisome.

Even more worrisome is whether the Federal Government will be throwing money at the security challenge or provide an enduring solution to the nation’s security problem. Security may provide a new leakage pipe that the Federal Government is trying to block by removing subsidy on petroleum products.

The power sector got 3.4 per cent of the budget. This translates to N161.42bn. There is no doubt that if this money is rightly spent, the power sector can see some significant improvement. But budget implementation had been poor. Can there be change this time. Nigerians can only be hopeful.

Education with the allocation of 8.43 per cent falls short of the United Nation’s recommendation of 26 per cent. Although some agencies are supposed to augment this expenditure, this sector with the level of decay already identified could have done with more allocation. Imagine by how much percentage education is trailing security.

Science and Technology got less than one per cent of the budget. This is a sector that is touted to be so important to the transformation agenda of the president yet it is so much neglected. The importance of science and technology is seen in the fact that it provides the local technological base for manufacturing and processing of agricultural products.

The increase in the duty on imported rice and wheat is a welcome development. Nigeria can give the world composite bread but is the cassava flour cheap enough? If the base for local production is not strengthened, smuggling could be the route for increasing the amount of these products that are imported into the country.

It appears that the Federal Government doesn’t do first things first. It is similar to the issue of removing fuel subsidy when the Federal Government failed to make refineries work through privatisation or building of additional refineries.

How will the government resolve all these contradictions? Time will tell but Nigerians should brace up for tough times. Removal of fuel subsidy and increased tax drive may be sacrifices that the present generation of Nigerians must make. But how far can this government go in its transformation agenda? Or is it another mantra?

Source: http://www.punchng.com/index.php/news/item/7706-analysis-a-budget-of-contradictions

https://docs.google.com/spreadsheet/ccc?key=0Av4rmwRfsfaWdG0wSVlQSzd3R0JRdVVYbzhsZzNpcVE&hl=en_US#gid=0

I was just trying to play around with numbers and somethings weren't adding up.

The figures on the recurrent expenditure is just depressing.

It pains me to see more reasonable discuss on nairaland than in our legislative houses.

Shouldn't we all be going out with machetes and demanding for the heads of our senators and representatives on a sacrificial calabash? nothing else should compensate for this daylight robbery of the Nigerian people and selfish allocation of wealth in a country dangerously populated with young restless jobless population.

We ended up electing bandits, criminals, thieves, and rouges as legislators who have dubiously and selfishly moved their budgets and overheads to statutory transfer, such that even if they decide to consume 90 percent of the budget, there's nothing the executive nor the judiciary can do about it. . . . .such despicable robbery!!!!

These filthy thugs are set to consume 8.4 percent of the budget, for simply sitting their egg heads down and coming up with anti man-lover laws?  in this same country where several schools are dilapidated and learning conditions pitiable?  this country is gone to the dogs, this country is finished!

Has anyone really thought of changing the name of that country to something else; as I do not see or feel any art of bond between the people and perhaps the name of that country? This joke here you call budget is an utter rubbish. It simply points to a hopelessly clueless bunch of opportunist managing a well blessed land.
Reading through this whole thing makes you but sigh what a waste these people are. Fair will be a "Koboko Haram" for all these robbers that is parading the country's power corridors. Practical evidence of their bought certificates.

Its a budget of contradictions really, my advice fellow nigerians is to brace up for a tough 2012. My angst @ the budget is the huge recurren expenditure, if politicians are toying wit our lives, I think we should toy with their source of livelihood. Scrap federal character, scrap minstry of state for watever. We can't afford them, the budgetary allocation to n/a should be cut drastically.allocations to works is so dismal, that should cover for only 6 soid roads in the whole year. No matter how much insecurity there is, the amount bandited is too much. Maybe 600-700 billion will do. They forget that massive unemployment From a harsh climate is a precipitant for further insecurity. The benefits of removing fuel subsidy doesn't outweigh the side effect, ASUU should go and sit down.lazy arses

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


Jona is now President of Niger Delta Republic.
Statutory Transfer: N398 Billion ( 90% of which goes to NDDC)
Niger Delta: N59.7 Billion

Aotal of 360 billion NGN to Bayelsa, Delta, Rivers and Akwa Ibom State.

"All Animals are equal, but some are more equal than others"

A N4.7trn budget, of which N1.88trn will likely be wasted. The N1.8trb is N920bn on defence, N560bn on Debt servicing and N400bn on National Assembly.

Ok,what this budget means is that Those who voted for GEJ will be gargantually rewarded in 2012.

What a joke of a country!

imagine recurrent expediture! Imagine statutory transfer that cant be questioned! imagine alarming level of compromise! imagine allocation to security when we have numerous, restless un-employed youth! imagine tough time in 2012!

Una vote for PDP and not Jonathan!
SMH

How long will it take these jokers to realize that security is highly dependent on a higher standard of living (water, power, food security), education, science and technology and not just throwing hungry policemen and soldiers at problem regions? Then the attempt to drastically shock the economy by suddenly removing the subsidy on petrol is simply unwise. One would have thought that a more reasoned gradual process tied to the availability of fully functioning refineries would be a better approach.

thehomer:

How long will it take these jokers to realize that security is highly dependent on a higher standard of living (water, power, food security), education, science and technology and not just throwing hungry policemen and soldiers at problem regions? Then the attempt to drastically shock the economy by suddenly removing the subsidy on petrol is simply unwise. One would have thought that a more reasoned gradual process tied to the availability of fully functioning refineries would be a better approach.

Good post there, That is what GEJ and his P.A Beaf do not understand,
It's a shame we have leaders who do not think,

This one singular act of removing subsidies will lead to
1) Increase in the price of pms, which will lead to,
2)Increase in the cost of living/doing business in nigeria, which will lead to,
3)Lower standard of living/ People losing their jobs, Which will lead to,
4) Increase in crime, corruption and all other socail evils

i think i need to join the police or the army,

i niid to benefit from the security budget,

anyone knows how i can register?

musKeeto:

It pains me to see more reasonable discuss on nairaland than in our legislative houses.

Where?

musKeeto:

It pains me to see more reasonable discuss on nairaland than in our legislative houses.

no mind them,imagine nnaji has time for twitter when he is supposed to be working.

werepeLeri:

None of the analysts have been impressive so far - none is objective, just name calling and bias for GEJ and his government. Let some reasonable people analyze not just people who have even not read the budget but just picks on 900billion on Defence and security. Is it a new thing that Defence and Security takes the largest chunk of the Nigerian budget?

werepeLeri:

Where?

Nairaland is so important to the nation's development that GEJ had to employ a Special Adviser (Beaf) and a deputy (werepeLeri) on its affairs? Just imagine Special Adviser on Nairaland Affairs!!! Every form of opposition must be taken care of. And they are doing a good job. It's not easy

philips70:

Nairaland is so important to the nation's development that GEJ had to employ a Special Adviser (Beaf) and a deputy (werepeLeri) on its affairs? Just imagine Special Adviser on Nairaland Affairs!!! Every form of opposition must be taken care of. And they are doing a good job. It's not easy

Fool

The federal governmnet is responsible for 32980km of road network making up about 17% of the total road network in nigeria states are reponsible for 16% the government finance capability is higher then the states and still yet some states are doing some "wonders" with a swelling educational requirement and some astronomical growth according to online nigeria.com educational trend a growing request for health services ranging from primary health care to secondary and teritry services and the only thing our government can do is to increase security vote let the cluelessness continue

End of the road for Nigeria!!!

These men want to perpetuate themselves in power by watertight security for themselves, In the end we will still have Boko Haram, N/Delta militants and many more to come, becos this budget will further impoverish ppl, and they will further resort to crime, then the country will implode/explode, and then to your tent O Isreal, Hahahaha,

Sadly, regardless of budget allocation, CORRUPTION will never allow Nigeria to progress!!!

Sorry to be so pessimistic, but after over a decade of 'democratic' government, our leaders still don't have a clue!

Come 2012 ending, the story wouldn't have changed much: soaring unemployment, lower quality of healthcare, more University strikes, more bomb blasts (we pray not sha), less EFCC convictions and incarcerations, more ripping off by oil companies and their telecommunication counterparts, More power failures, Nigeria, the story is always the same!

I didn't listen to the budget but I read about it I would like to say its a disappointment just like the performance of the government under GEJ, and I am not surprised at what the legislators are also debating about,know we need to chart a direction for this government, I would start with the issue of security- this same government have spent billions on satellites which are just test cases, we could use these satellites in space for assessment of the the whole of nigerias border area, to monitor the migrants coming in and leaving the country we definately do not need close to a trillion for that, we need to create border monitors employment like those monitoring the borders of the U.S and mexico, that amont of money alone would employ noth short of 100,000 nigerians while the space centre would have good work to do.
2. Educated people are easier to govern then the uneducated we can see the way these unedcated people shunt queues at busstopss, University lecturers are requesting for about 109 billion in order to put to rest the issue of strikes it should also be taken out of that amount they want to allocate to our men in uniform, true federalism a soveriegn national conference should be done, to determine if our governing structure is acceptable since a lot is still going wrong, the small refinery in the world would cost between $4m-$10m to build and this refinery would have the capacity for further expansion this is just a petense out of our over bloated budget, this would also create more then 20, 000 jobs directly and about 80,000 indirectly when government say agriculture is the largeset employer of labour it makes me laugh the truth is science and technology is the largest employer of labour even in other developing countries like india they now sell us transformers they have developed and design their own laptops and they are selling them all around the world, china has the largest population in the world yet they have the kind of economy nigeria is begging to have by the year 2020, why because people want to work its well defined and it is cheap most of the hair (synthetic hair) our women buy are from china that's what they are selling technology we are not ready to put our hands into planting cassava because we would be preparing for jonathans son or daughter to read in the u.k and come and govern us while they don't know how to plan maize and they may never do the same, what we need to focus on is the establishment of industries that would process these raw materials like canning and processing focusing on direct establishment of these companies this would automaticcally encourage backward integration into farming for those that know industries would process these produce this can produce more then 500000 jobs from production to marketing and this would involve just a mergae investment from our government, now look at what they call stautory transfer its what I call legalised stealing look at the this insecurity problem we have in this country I always say it an idle hand is worst then the devils workshop GEJ and his cohorts should go back and get their priorities right and those they have misplaced they should go and find it we need leaders that would ask us nigerians what we want and what would live after they have left power not make shift temperary solutions to patch the challenges that would not live beyond a month of them leaving power and like I always say rubbish as usual.

The recurrent expenditure is trully shocking. Proof that 160 million Nigerians live and die for a few.

@ Beaf or anybody. Would appreciate if somebody could show me  what part of the 2011 budget the oil subsidy for was buried in. I can't seem to find it anywhere. I have gone through a sector by sector analysis but I can't find anything akin to oil subsidies. Am I missing something? I suspect that such monies are never budgeted. If that is the case, then shouldn't we be concerned by the loads of media reports and okonjo's proclamations  that present this 2012 budget and highlight the point that oil subsidy was not included.

secondly the vanguard reported a few weeks ago, that the FIRS reported a non oil tax haulage of 1.7 trillion naira  and total tax revenue of 3.37 trillion or so for the period spanning january to september. Now, in a year where the budget was 4.3 trillion dollars with oil based forex earnings accounting for 2.4 trillion or there about, isn't there an imbalance in the books. Plus if the FIRS can raise nearly 4trillion a year in taxes surely we should have a budget potentially that should double that sum. Am I doing my maths wrong?

http://www.ngrguardiannews.com/index.php?option=com_content&view=article&id=65340:-non-oil-taxes-hit-n117-trillion-mark&catid=1:national&Itemid=559

Thanks guys and clarifications will be appreciated.

@Op

Please, I am sleeping. Wake me up whenever Lucky Joe gets SERIOUS about Leadership not bribery of the Military, the Niger Delta miscreants and of course hand outs to the Abuja collective(FCT and the rest). We are not Serious indeed.

werepeLeri:

Fool

Still doing your job. One na one day monkey go go market he no go come back. This is part of your amnesty programme. When your mates were sent abroad you were detailed to Nairaland for defence. Shameless man who doesn't think. Where are all those people defending Yar'Adua's health the other day. Quick wealth have a way of fading fast. When your principal's gone I know definitely you will find your way back to the creeks for kidnapping and pipeline vandalisation, Mr Voltron!

To the ordinary man on the street, in 2012:
1) Rice will be more expensive
2) Bread will be more expensive
3) Fuel will be freaking expensive and
4) There will be more money for the politicians to share.
Every other thing na story