₦airaland Forum

https://www.youtube.com/watch?v=6OxD9TQBw7s

If the National Assembly approves President Bola Tinubu’s N49.74 trillion 2025 budget proposal, it means in 27 years Nigeria has budgeted N232.546 trillion.
The figure is the summation of the various budgets and supplementary budgets passed by the National Assembly since 1999, according to Saturday Vanguard’s check.
Based on official exchange rates at the time of the appropriations, the N232.546 trillion is equivalent to $667.887 bn. If parallel or black market exchange rates were applied, the total sum would be less than $500 bn.

Late President Umaru Musa Yar’Adua, who was in the saddle for 1,071 days, spent N10.949 trillion or $79.13 billion, which is 4.71 percent of the staggering N232.546 trillion (see table). Yar’Adua died on May 5, 2010, 24 days to the third anniversary of his May 29, 2007 presidential inauguration.

In his eight years sojourn at the Presidential Villa, former President Olusegun Obasanjo appropriated N12.332 trn ($121.35 bn) or 5.30 percent of the 27-year budget. The figure includes the budget he inherited from the departing military regime of General Abdulsalami Abubakar, retd, on May 29, 1999.

Former President Goodluck Jonathan, who deputised for Yar’Adua, and succeeded him, presided over the affairs of Nigeria for five years during which he spent N25.296 trillion ($156.569 bn) or 10.88 per cent of the budget.

Immediate past President Muhammadu Buhari, the second man to rule Nigeria for two terms of eight years, had the highest expenditure. Between May 29, 2015 when he succeeded President Jonathan and May 29, 2023 when he handed over to President Tinubu, he spent 41.72 percent of the nation’s budgets in 27 years. He appropriated N97.018 trillion or $228.641 billion.
Current President Tinubu, who has been in the saddle for 17 months has so far spent N37.332 trn and by the end of the year, if his 2025 budget got National Assembly’s nod, would have spent N86.972 trn ($81.977 bn) or 37.40 percent of the budgets.
The Buhari figure included the N574.533 billion supplementary budget he made in 2015. Also, Tinubu’s budget sum included the N2.177 trillion supplementary appropriation of 2023.

Broken down further, the People’s Democratic Party, PDP, governments of Obasanjo, Yar’Adua and Jonathan spent N48.5564 trn ($257.069 bn) in 16 years while the ruling All Progressives Congress, APC, governments of Buhari and Tinubu budgeted N183.99 trn ($310.818 bn) in 11 years.

How N232.55 trn ($667.887 bn) was appropriated
Obasanjo – N12.332 trn ($121.35 bn), 5.30%
Yar’Adua – N10.949 trn ($79.13 bn), 4.71%
Jonathan – N25.296 trn ($156.569 bn), 10.88%
Buhari – N97.018 trn ($228.641 bn), 41.72%
Tinubu – N86.972 trn ($81.977 bn), 37.40%

Hmmm....with nothing to show for it

Short simple some people built Estate while some sent their kids abroad from a large chunk of this funds

We deserves what is happening to us

How N232.55 trn ($667.887 bn) was appropriated
Obasanjo – N12.332 trn ($121.35 bn), 5.30%
Yar’Adua – N10.949 trn ($79.13 bn), 4.71%
Jonathan – N25.296 trn ($156.569 bn), 10.88%
Buhari – N97.018 trn ($228.641 bn), 41.72%
Tinubu – N86.972 trn ($81.977 bn), 37.40%

This is what caught my attention: in the above figure, you could see how much each president has spent within specific period of time.
Tinubu in his less than 3 years period have spent more money than all the other president expect for Buhari. But you have to still consider 3 to 8 years of Buhari... Tinubu has spent more.

chiefolododo:
Hmmm....with nothing to show for it

quite sad

Nigeria’s budgets in N/$ since 1999

1999 –N407 bn ($18.59 bn)
2000 – N702 bn ($8.16 bn)
2001 – N1.318 trn ($13.31 bn)
2002 – N1.0648 trn ($9.77 bn)
2003 – N1.45 trn ($12.72 bn)
2004 – N1.3 trn ($10.24 bn)
2005 – N1.8 trn ($14.01bn)
2006 – N1.88 trn ($14.63 bn)
2007 – N2.39 trn ($19.92 bn)
2008 – N2.74 trn ($23.03 bn)
2009 – N3.049 trn ($21.03 bn)
2010 – N5.16 trn ($34.4 bn)
2011 – N4.972 trn ($33.15 bn)
2012 – N5.0386 trn ($32.93 bn)
2013 – N4.987 trn ($31.17 bn)
2014 – N5.23 trn ($32.67 bn)
2015 – N5.6425 trn ($29.67 bn)
2016 – N6.061 trn ($30.74 bn)
2017 –N7.441 trn ($24.40 bn)
2018 – N9.12 trn ($29.90 bn)
2019 – N8.92 trn ($29.25 bn)
2020 –N10.59 trn ($29.42 bn)
2021 – N14.573 trn ($38.45 bn)
2022 – N17.908 trn ($43.66 bn)
2023 –N24.007 trn ($55.10 bn)
2024 – N35.055 trn ($43.82 bn)
2025 – N49.74 trn ($33.16 bn)
Total – N232.546 trn ($667.887 bn)

lcons:
Short simple some people built Estate while some sent their kids abroad from a large chunk of this funds

We deserves what is happening to us

Who will bail the cat?

blabulu2000:
How N232.55 trn ($667.887 bn) was appropriated
Obasanjo – N12.332 trn ($121.35 bn), 5.30%
Yar’Adua – N10.949 trn ($79.13 bn), 4.71%
Jonathan – N25.296 trn ($156.569 bn), 10.88%
Buhari – N97.018 trn ($228.641 bn), 41.72%
Tinubu – N86.972 trn ($81.977 bn), 37.40%

This is what caught my attention: in the above figure, you could see how much each president has spent within specific period of time.
Tinubu in his less than 3 years period have spent more money than all the other president expect for Buhari. But you have to still consider 3 to 8 years of Buhari... Tinubu has spent more.

sad reality