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In Osun and Ekiti states, 45 per cent of their agricultural expenditure was spent on capital expenditure. In Ondo State, 19 per cent of its agricultural expenditure was spent on capital expenditure, and 11 per cent was spent in Lagos State on capital expenditure.
Nigeria’s defence budget has risen by 134.80 per cent in five years, a review of the budget documents of the ministry of defence has revealed.
A Dataphyte review of Osun State’s 2022 budget has shown the state plans to spend N995 million on brand new vehicles for the governor’s office. Gboyega Oyetola-led government had spent N536.942 million (between January and June 2021) for the purchase of brand new cars for governor’s office in 2021. Although N629 million was the amount originally budgeted for the expenditure in 2021.
A total of 93.2 billion was allocated for soft projects in the recently approved 2022 budget, Dataphyte analysis has shown.
A Dataphyte review of the 2019 audit report has revealed that the Ministry of Agriculture and Rural development shortchanged the country in amounts running into several millions of naira.
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The proposed 2022 budget figure of N16.39 trillion is N2.41 trillion more than the projected budget for the 2022 fiscal year. And it is only N381.19 billion less than the projected aggregate budget expenditure of the 2024 fiscal year of N16.77 trillion.
In the last 7 years, the sum of N3.37 trillion has been allocated to the Nigerian armed forces, the Army, Navy and Air Force.
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The total approved budget to the education sector in the last 7 years is N4.08 trillion. If the 2022 proposed budget is passed and the allocation to the sector is approved, it will bring the total allocation in 8 years to N4.59 trillion.
In July, Nigerians received news that President Muhammadu Buhari has promised to increase the budgetary allocation to education by 50 per cent in 2023. The President stated this at the Global Education Summit in London, United Kingdom.
The defence budget has come under scrutiny over the last few years, especially as the state of insecurity in the country has continued to worsen. Banditry, kidnappings and sectoral violence combined with the decade-long war against Boko Haram has put the country on the map as an extreme travel security risk.
A Dataphyte analysis of the just presented 2022 Budget by President Muhammadu Buhari has revealed that 38% of it will be financed by loans.
As the federal executive arm through its ministries, departments and agencies prepares the 2022 budget, Dataphyte, a programme of the Interactive Initiative for Social Impact conducted an analysis of the 2021 zonal intervention projects (ZIPs) in order to assess the viability of the ZIPs and to use the outcome to demand reforms or a total scrap of the ZIP as an appendage budget to the country’s fiscal document.
The budget call circular from the Ministry of Finance Budget and National Planning shows that the 2022 budget will be less than 2021. The Federal Government of Nigeria (FGN) has set a budget expenditure ceiling of N13.98 trillion for the 2022 fiscal year. This figure comprises a fiscal revenue of N8.762 trillion, and N5.218 trillion will be incurred as the deficit.
Key Changes in the Proposed vs. Approved Budget (Capital Expenditure)
