Updated Dec 21 2020: The Nigerian Senate has passed the appropriation bill of N13.588 trillion (about $35 billion), which is N505 billion higher than the proposed N13.082 trillion Buhari presented to the Senate in October for 2021 budget. The Senate disclosed here.
Nigeria’s president, Muhammadu Buhari, has presented the 2021 national budget estimate to the National Assembly. The proposed expenditure is N13.08 trillion (about $34 billion). The price of crude oil is pegged at $40 per barrel with a daily production estimate of 1.86 million barrels. Recurrent expenditure is N5.65 trillion; personnel cost is N3.76 trillion, and debt service is N3.12 trillion. If you run the math, about 25% of the budget goes to service debts!
Selected ministries and allocations:
- Ministry of Defence – N840.56 billion
- Ministry of Interior – N227.02 billion
- Ministry of Police Affairs – N441.39 billion
- Ministry of education – N545.10
- Ministry of health- N380.21 billion
Special Allocations
- North East Development Commission – N29.7 billion
- Nigerian Judicial Council – N110 billion
- Universal Basic Education Commission – N70.05 billion
- INEC – N40 billion
- Public Complaints Commission – N5.20 billion;
- Human Rights Commission – N3.00 billion;
- Basic Health Care Provision Fund – N35.03 billion.
Key capital spending allocations:
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- a. Power – N198 billion
- b. Works and Housing – N404 billion.
- c. Transportation – N256 billion.
- d. Defence – N121 billion.
- e. Agriculture and Rural Development – N110 billion.
- f. Water Resources – N153 billion.
- g. Industry, Trade and Investment – N51 billion.
- h. Education – N127 billion.
- i. Universal Basic Education Commission – N70 billion.
- j. Health – N132 billion.
- k. Zonal Intervention Projects – N100 billion.
- l. Niger Delta Development Commission – N64 billion.
The National Assembly will later work on the finance bill when ready, and will harmonize for passage. The president will now sign into law.
Data from Premium Times
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We seem to be great at putting ourselves in a tough position from the beginning, the crude oil they put at 40 dollars and 1.86 million barrels, are we hitting these numbers right now? This is how you start recording deficits from day one. 35 dollars benchmark would have been more reasonable, to give you some breathing space.
The Defence always gets the fattest cheque, and before you talk, they remind you of ‘security’, yet our soldiers are being wasted almost everyday, we only know how to write and read Defence budget, but don’t know how to secure the land and make the inhabitants feel safe, across board.
Police Affairs got a large chunk, I don’t know how many entities they service within them, but the policemen we know and see don’t look like they should be mentioned alongside this sort of numbers, they haven’t stopped extorting and harassing their compatriots.
Will our revenue hit N6 trillion next year? Else the debt servicing could be hitting N4 trillion by 2022. We are approaching when almost all our revenue will go into debt servicing, quite scary.
We have been submitting and passing this kind of budget for decades, but the lamentations in the land haven’t been on the decrease over those periods.
We keep going.
Check what is meant for our education sector you will see that our so called rulers are bunch of illiterates
Don’t mind them very mannerless leaders
Don’t mind them very mannerless leaders
Nice one…..
I live this write-up
What about the source of funding, it wasn’t mentioned. Are we borrowing to service old debt and incure further debt?
The military are now establishing different institutes of learning and creating employment etc it’s good but don’t we think they need to focus more on security and liase with NDA if need be, they shouldn’t divert money meant for security into establishing institute of technology everywhere.
How much was budgeted for the national assembly, I didn’t see that ….
I guess that of the National Assembly is not for the public eye.
Nigeria, this is how we know the value of being educated
I seem to be confused about this bill.
There’s no budget for Ministry of Youth and Sports, NYSC preciscly
Those will come – this is just high level. Wait for the Finance Bill for the full details
GOD bless Nigeria
If we sum up this monies we can build at least 2 refineries on emergency and from there get enough gas for Electricity generation, bitumen and coal tar for road and bridges construction…we have over 6,000 byproducts from crude oil, increase agro capacity… All these are targeted to increase our IGR…Mmmm! We don’t have creative thinking leaders.
Yes! Only you can think nah! We stop paying all salaries for all people and stop everything else in the country because you want to build 2 refineries in a single year! MEanwhile Dangote who has all the money ready has not finished building his own after three years of starting. Bumb proposition, if there ever was one. It is YOU that is not a creative thinker, if you are a thinker at all.
And you think Dangote is the only one funding the building of his refinery. Most of the politicians are just hiding under his umbrella. Just ask yourself how an individual is about to own refinery yet Nigeria as a nation can’t boast of one, they keep on exporting our crude oil because that’s the only way they can keep on embezzling our money.
So we should pause all other things and focus on building refineries?
You said a truth
You have spoken well, however, Thank God Dangote is building a refinery and that’s a step forward.
Always the same,suffering continues
We are waiting for PDP 2023.
Yes! Then FAyose, Dino MElaye and Saraki will turn the country into EldDorado! BE deceiving yourself
Yes! Then FAyose, Dino MElaye and Saraki will turn the country into EldDorado! BE deceiving yourself
You think PDP will do better with the current political setup in the land? Then you must be deceiving yourself! Two sides of the same coin they are.
We need innovative and more strategic budgeting.
I pity for this country!!! Education would always receive a moderate share despite the need to standardize our education system. useless government.
Nigeria need decent policies of reawaken it’s economy at this crucial times.
I pray that the 2021 budget proposal makes a difference in terms of a bit
moving us away from the poverty capital of the world.
Prayer alone is fruitless. Come and work.
Those of you complaining, in one sentence if you are the president, what can you possibly do Nigeria? Do you guys think its easy to rule?
They are giving u something right?
It is very easy. if u allowed God
To be in control.
N if u are sincere, everything will
move smoothly for u.
If it is not easy to rule, at least I know it is easy to step down.
BREAKING ON GOOD WAY
It is very easy. if u allowed God To be in control.
N if u are sincere, everything will move smoothly for u.
God will never ever come down to do anything for Nigeria.
May God help us.