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Over the last eight years, the aggregate approved national budget in Nigeria has had a 3.4% increase over the proposed. N75.96 trillion has been proposed as aggregate expenditure from 2015 to 2022, the approved figure as passed by the national assembly stood at N78.54 trillion.
From health to gender, security, agriculture, extractives and other sectors, Dataphyte covered all the pertinent events that unfolded in the country in 2021 and “made it make sense” for Nigerians, bringing deeper insights into the issues.
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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.
On October 7, President Muhammadu Buhari presented before both sessions of the National Assembly, a proposed budget of N16.39 trillion (N16,391,023,917,692) for the 2022 fiscal year.
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.
The approved supplementary budget of 7.46 billion Naira is for a purported “independent lawful interception platform – voice and advanced data monitoring”.
The federal government debt rose from ₦23.3 trillion in 2019 to ₦32.92 trillion by the end of 2020. This crippling debt burden reveals Nigeria’s shrinking revenue base and an unbridled appetite for spending.
The 7th of April every year is set aside to commemorate World Health Day. This has been the tradition since 1950, after it was proposed at the First World Health Assembly in 1948. Each year’s celebration comes with a unique theme, and this year’s celebration is tagged “Building a Fairer, Healthier World.”
While the Nigerian government is scrambling to finance its budget, a whooping ₦1.45 trillion could lead to another case of bad debt for the Nigerian National Petroleum Corporation (NNPC).
The statutory transfer had an unparalleled increase of ₦12.04 billion;
