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The Handbook of Data-driven Reporting will also be made available on the platform for Journalists, providing a unique resource to support accurate reporting in the upcoming 2023 elections.
In the seven years reviewed, the lowest number of N200 notes was recorded in 2015 when 401.63 million pieces were put into circulation. This year, N1000 and N500 have had the highest volumes in circulation, with 1.011 billion and 1.322 billion pieces, respectively.
Nasarawa State spent 30 percent of its agricultural expenditure of N1.31 billion on capital items. Kwara and Kogi states spent less than 15 percent of their total agriculture expenditure on capital items. In Kwara State, only 14 percent of N622 million earmarked for expenditure went to capital items.
Dataphyte Research’s analysis of election trends since 1999 till date projects Senator Bola Tinubu to win Nigeria’s 2023 presidential race, except the majority of the people suddenly begin to consider the capacity of elected persons to deliver socioeconomic benefits to their constituents.
In the South-East region, while Anambra, Ebonyi, and Imo states spent fair shares of their budgets on capital items, Enugu and Abia states spent virtually nothing on capital projects as all expenses went to recurrent issues.
Other states’ performance shows that Katsina State had a recurrent capital expenditure composition of 50% to 50%. In Kebbi State, it is 59% to 41%, 71% to 29% in Sokoto State, and 86% to 14% in Zamfara State.
Thus, while four states budgeted over 50 per cent of their expenditure on capital items in the southwest region, only one state implemented over 50 per cent of its spending on capital expenditure.
As of the time of this report, the world’s Crude Oil is soaring above $100.
A total of 93.2 billion was allocated for soft projects in the recently approved 2022 budget, Dataphyte analysis has shown.
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The 2022 budget that was approved has a total aggregate expenditure of N17.13 trillion. This is a 4.51% increase in aggregate expenditure over the proposed budget of N16.39 trillion.
The Nigerian National Petroleum Company (NNPC) has requested N3 trillion as fuel subsidy in 2022.
The 5 ministries with the highest allocation in the MDAs Approved 2022 Budget for MDAs, namely, the Ministry of Finance, Budget and Planning, the Ministry of Defence, the Ministry of Education, the Ministry of Health, and the Ministry of Police Affairs are to receive 69% of the total MDAs budget allocation and 71% of the total budget for Personnel of MDAs
The 2022 budget deficit as a percentage of the GDP is 3.46% which exceeds the 3% benchmark set by the Fiscal Responsibility Act.
The federal government of Nigeria has approved a budget of N17.13 Trillion (N17,126,873,917,692) for the 2022 fiscal year. While the federal government plans to spend this amount as total expenditure, it hopes to generate revenue to the tune of N10.74 Trillion (N10,740,803,831,543).
President Muhammadu Buhari has signed the 2022 budget. The revised budget is N17.1 Trillion from an initial N16.4 Trillion presented to the National Assembly. The additional changes, driving up the budget figures, were done by the National Assembly.
