A Must Read: Nigerias Economy and the Budget. - EazyFeeds

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Saturday 24 December 2016

A Must Read: Nigerias Economy and the Budget.

Breakdown of Nigeria's yearly budgets
GEJ govt
2011 - 4.971 tr
2012 - 4.697 tr
2013 - 4.987 tr
2014 - 4.690 tr
Buhari govt (N:B GEJ submitted the 2015
budget but it was dispensed by Buhari govt)
2015 - 4.493 tr
2016 - 6.1
2017 - 7.4
Few things to take note here and then few

1. The budgets during GEJ era were relative
to each other and were reducing especially
from 2013 downwards. These were times
Nigeria was making good money and there
was no recession.
2. There was a sharp increase of 1.6 tr in
Buhari's first year in office and now an
increase of 1.3 tr over the 2015 budget.
3. This means an increase of 2.9 between
the budgets of 2015 and 2017
The questions:
1. Is it reasonable for a country to spend
more when it is generating less?
2. Is it reasonable for a country to spend
more when its economy is in recession?
3. Is it very reasonable in governance&plan
ning for a government to have an increase
of over 1 tr on its own yearly budgets (6.1 to
3. Has the increase of 1.6 tr over the 2015
budget of 4.493 tr shown any economic or
developmental impact/evidence apart from
what the country had in GEJ's era? Is there
something new apart from hunger and
complaints by the public?

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