Tag

Budget

Does Nigeria Care More About Its Debt Profile Than Its Citizens?

A recent DATAPHYTE occasional paper revealed that budgetary provision to some of the top five most critical sector’s of Nigeria’s economy accounted for only 17 percent of the initial 2020 budget. While these five key sectors (Agriculture, education, health, infrastructure [power, works and housing], and security) compete for less than a fifth of the total budget size, allocation to debt servicing was over 25 percent of the total budget size for the same year.

Budget

Where FG Can Get ₦304 Billion of the Proposed ₦1.5 Trillion Cut

The Federal Government has announced its decision to downsize the 2020 budget by ₦1.5tn. Yet, there is no public information on the budget items that make up the amount. Though budget cut is a reasonable decision, experts say the government must exercise caution. That the implementation must secure critical sectors such as education and health

Data Card

Numbers To Ponder: N40.2tn Household Consumption, $20b In Jeopardy, 20 Dockworkers Arrested

For Today’s Numbers to Ponder, Nigeria ranks 97th position in a global survey of 117 countries on budget transparency. In the Open Budget Survey 2019, the country scored 21% in budget transparency, 22% in public participation, and 55% in budget oversight. Is this a burst? An allegation of diverted N23 million COVID-19 palliative fund is hanging on the neck of the Comptroller General of the Nigeria Immigration Service, Muhammed Babandede. To support the government in the fight against the pandemic, a religious group has offered its 425 health facilities as isolation centres for COVID-19. Tony Ojukwu, the executive secretary of the National Human Rights Commission (NHRC), says the Nigerian Police caused nearly 60 percent of reported human rights abuses perpetrated during the second phase of the strict lockdown. This is also in tandem with a report by Dataphyte on how the Nigerian Security Operatives killed 13 while enforcing lockdown last month.

Specials

Today’s Numbers To Ponder; 97th Position on Budget Transparency

For today’s Numbers to Ponder, Nigeria emerged 97th position in global budget transparency survey, falling behind Ghana, Liberia, and Sierra Leone. Experts told DATAPHYTE that the opacity in the budget process makes Nigeria lose out among the comity of nations. In the fight against COVID-19 pandemic, no Workers’ Day celebration for frontline health workers as 113 already contracted the COVID-19 virus.

Economy

Fuel Subsidy and the 2020 Budget Crisis

The federal government is currently rethinking the 2020 budget to respond to the shocks stemming from ongoing global oil price crisis. The 2020 budget bench-marked crude oil price at $57/b but, as of now, the price is $38, could slide further. The crisis is triggered by the COVID-19 outbreak, which has affected demand from the world’s second-largest economy, China, and, of course, the associated price war by Saudi Arabia and Russia.

Budget

#OpenTreasury: Zero Description for Federal Government’s Payments Worth 510 Billion Naira

No doubt, a number of ills characterised Buhari’s administration in 2019. From over 75 attacks on the press, to a number of violations of court orders and the pumped prices that came with the closure of the Nigerian border. Chibok girls are still missing and the negotiation for release remain a political subject. Moreover, thousands of displaced persons and deaths still caused by Boko Haram attacks. The same government has virtually run deficit budget and incurred not less than $80 billion in debt since 2015.