My worries about the several months of delay in passing the 2018 Budget of Consolidation were abated as the Senate finally approved it on Wednesday, 16th May. But my heart turned to jelly as I read the breakdown of the budget. I became fearful, not only because of the fiscal deficit of N1,954,464,993,775 and a deficit to GDP of -1.73 percent, and the feeble plan for revenue generation but because of Nigeria’s usual way of ‘shifting the deck chairs on the Titanic.’ It is increasingly disgusting how the leadership of the country pays less attention to core indices of national development such as education, health, human empowerment, security, but keeps the tabs on those areas that do not directly impact the lives of citizens. Of the total amount passed by the Senate – N9,120,334,988,225, N2.873 trillion was budgeted for capital expenditure. The Federal ministry of power, works and housing got the highest allocation of N682.309 billion, followed by transportation which received N251.420 billion; N157.715 billion for defence; N149.198 billion for agriculture and rural development; N147.200 billion for water resources and N102.907 billion for education while N150 billion was allotted to capital special intervention programme. The breakdown also showed that the National Assembly got N139.5 billion and the National Judicial Council got N110 billion. While we thank the Senate for increasing the budgetary allocation for education from the N61.73 billion proposed by the executive to N102.907, the amount is, without doubt, meagre considering the crucial role of education in the development of any people and country. Till date, no government in Nigeria has ever raised the allocation for education to 20 percent as recommended by the United Nations Educational, Scientific and Cultural Organization (UNESCO). Sadly, there has been a consistent decline in the value the government has placed on education since the beginning of democratic rule. Although the Second National Development Plan (1970–74) raised the allocation to 13.5%, it fell to 7.5% in the Third National Development Plan (1975–1980). Again, it jumped to 17.3% in the Fourth National Development Plan (1981–85). However, it has not gone higher than 13.5% since 1990 except in 1997 when education was given 17.5%. Speaking at the Abubakar Tafawa Balewa Stadium, Bauchi, President Muhammadu Buhari said, “Now, look at the farmers/herdsmen’s clashes in the northern part of this country. I have been telling people that if I had not gone to school, I would not have gone into the military and where I come from since my cows are finished; maybe, I would have been involved in this fight. “You should strive hard and be educated, get the education that will benefit you and the society, it is not compulsory that government will give you what to do.” In other words, Buhari himself acknowledged the role of education in the transformation of the mind, patriotism and national peace. Yet, he allocated just a meagre 7 percent of the total proposed budget for the sector. Meanwhile, highlighting the poor state of education in most Commonwealth countries in an op-ed, Jakaya Kikwete and Ngozi Okonjo-Iweala, a former Minister of Finance in the country, write, “The situation is particularly worrisome in Nigeria, where nearly nine million primary-school-age children are not enrolled, and millions more – especially girls – are denied access to secondary education. Educational opportunities are also highly unevenly distributed between the richest and poorest Commonwealth countries, while gender discrimination plagues many states. “If current trends continue, by the year 2030 – the deadline for meeting the 17 United Nations Sustainable Development Goals – more than 70% of children in Commonwealth countries will be failing reading and math. This would represent more than half of the total number of young people expected to lack the skills needed to succeed in the twenty-first-century job market.” Understanding the elevated position of education in attaining national peace and development, Okonjo-Iweala as Finance Minister in 2015 allotted the lion’s share to education. Of the total N4.493 trillion approved fiscal expenditure in 2015, education received the highest sum of N392,363,784,654. This is an example of a leadership that knows the place of education, making it a priority for the holistic growth and development of the human capital and, ultimately, national output. In conclusion, Aliko Dangote, speaking about International Finance Facility for Education (IFFEd) and the importance of education said, “As an industrialist, inclusive and quality education opens the door to development and growth.” Therefore, Nigeria must rise to the challenge and become more proactive and innovative in education financing. Uwa Eghomeka is a teacher and budding writer who resides in the ancient city of Benin.<doc-sep>Nigerians have said that President Muhammadu Buhari should not have signed the 2018 budget, which he did amid claims that the National Assembly “tampered” with the document. Buhari had lamented that the 2018 Appropriation Act, which he signed into law on Wednesday, would be difficult — if not impossible — to implement because of the alterations members of the National Assembly had effected on the document he submitted to them on November 7, 2017. He accused the federal lawmakers of, among others, increasing the National Assembly budget by N14.5bn from N125bn to N139.5bn without any discussion with the Executive. He also accused them of injecting 6,403 projects of their own totaling N578bn into the national budget, while making cuts amounting to N347bn in the allocations to 4,700 projects as submitted to them. Projects from which cuts were made include the Mambilla Power Plant, Second Niger Bridge/ancillary roads, the East-West Road, Bonny-Bodo Road, Lagos-Ibadan Expressway and Itakpe-Ajaokuta Rail Project, totalling an aggregate of N11.5bn. In their response, Deputy Senate Leader, Bala Ibn Na’Allah; and the Chief Whip of the House of Representatives, Alhassan Ado-Doguwa, said if they had allowed the budget to scale through the way Buhari submitted it to them, they would have been in trouble with those who elected them. Nigerians are not taking the issues lightly, as they confronted their leaders via Buhari’s verified Twitter handle —@MBuhari Nigerians have since taken to Twitter to express their views: I’m dissapointing in you sir, people voted you to bring divine change not acting weak with hardened criminals. — Lefty against rogues. (@kakra68) June 20, 2018 Since the budget has been signed, what is the moaning about then? Scared of failure? Your claims can’t hold water because if you are sure that the budget was tempered with unreasonably then you should have not signed up. Deliver what is the budget and stop playing future excuses — Cyber_Rise ??? (@YoungerClue) June 20, 2018 Please sir stop celebrating a failure! You all should be ashamed of signing the bill so late, other countries are discussing about their next 10year,all you do is making announcements, tomorrow some else will pocket the allocated money. — Nonnybozz99 (@nonnybozz99) June 20, 2018 Legislators are Nigerian enemies of progress. — sidi mustapha (@mustaphaado39) June 20, 2018 Sir all u have to do is to make sure that those @nassnigeria project are being monitored. Make sure the projects are carried out with standard materials. Arrest any nass member that didn’t complete his/her project. any contractor who use low standard material should be arrested — Boss Man (@idemisammy) June 20, 2018 this is the most important speech the President has ever presented – factual, informative and revealing. The NASS remain the biggest enemy of our country. — Abdul-Majid Lawan (@Abdul_Majid84) June 20, 2018 Reading your speech won’t undo the mishap, budget padding & fraud within d 2018 budget. Just do what y’all know how to do best. Sadly, 2017 budget like past has gone with no significance on the lives of common man on the streets. Those who have benefitted have remained same — AYANLOLA ABDULJELIL (@owolabitaiwo) June 20, 2018 Isn’t is ironic how our @nassnigeria who ought to be the voice and true representative of the people are against the people ? ? ?♀️ May God help our nation o — ANIFOWOSHE TITILOPE (@classicaltiti) June 20, 2018 LMAOOOOOO. Your MCM appends his signature to a document he admits is faulty. I need a drink. — Chief Fuji (@MONSIEURBLAC) June 20, 2018 Soon we will have FIFA 19, 2019 Car Models, World Cup “2026” has been Decided and Signed and you are proud to announce you signed 2018 Bill into Law. SMH Shame! Shame!! Shame!!! #budget2018 — Nebeife Peter (@pnebeife) June 20, 2018 it is now BABA is signing 2018 budget, when the year has finished. we’ll be alright! — Santos .W (@chukolate_) June 20, 2018 The sixth month of the year Jokers in government ? — Ifeanyi (@ifeanyiajuwa) June 20, 2018 Now, I think this is too late… You are all failure.. — Olawanle Oluwasheyi (@sheymensch) June 20, 2018 Nothing but another APC publicity stunts. Absolutely no benefit to the people. 2016 and 2017 “budgets” are clear reminders of the futility of this excercise. — Tony Aneke (@AnekeTony) June 20, 2018 Since many expenditures has been cut off, how much is now the total amount of 2018 budget — Bashit Jimoh (@SK_Jimoh) June 20, 2018 Would you be happy getting paid your salary on the 6th month of the year. We have to always live what we preach. Corruption starts with not paying workers their due salaries when due. Please this must be corrected. — Kanec Pharma & House (@kanecusa) June 20, 2018 What’s the impact of 2016, & 2017 budget to the common ?man all over the streets of ??Nigeria? So is nothing new although is an achievement to you guys @APCNigeria — Esenic Chikarito Vinny (@VintechGlobal) June 20, 2018<doc-sep>In May, Nigeria’s Parliament passed a record $28.95 billion budget for 2018 aimed at boosting growth eight months before the country’s next presidential election. LONDON - Nigerian President Muhammadu Buhari will sign the government’s long-delayed budget into law on Tuesday, Information Minister Lai Mohammed said on Friday. In May, Nigeria’s Parliament passed a record 9.12 trillion naira ($28.95 billion) budget for 2018 aimed at boosting growth eight months before the country’s next presidential election. But it still needs to be returned to Buhari to be signed into law. “We will sign it off on Tuesday,” Mohammed told Reuters on the sidelines of a visit to London. The total sum laid out in the spending plan passed by the Senate is higher than the 8.6 trillion-naira budget presented to Parliament by President Muhammadu Buhari in November. Mohammed said he expected the delay would have little effect on government projects. “Even once a budget is passed, there are still processes, due diligence to be done ... this takes time.”<doc-sep>
Nigeria’s President Muhammadu Buhari signed the 2018 Appropriation Bill (budget) into law few minutes past noon on Wednesday, June 20, 2018. Here’s what we know The National Assembly made cuts amounting to N347 billion The 8th National Assembly, NASS, have made some cuts in the Appropriation Bill submitted by President Buhari to the tune of N347 billion. President Buhari revealed that legislative arm of the government made cuts amounting to N347 billion in the allocations to 4,700 projects submitted to them for consideration and introduced 6,403 projects of their own amounting to N578 billion. The 2018 approved Budget Budget size: N9.12 Trillion Deficit: N1.95 Trillion: Recurrent Non Debt: N3.51 Trillion Capital Expenditure: N2.87 Trillion Debt Servicing: N2.2 Trillion Statutory Allocation: N530 Billion Revenue: N7.1 Trillion 2018 budget is the longest to be passed into law The 2018 budget has been judged as the longest budget in the history of Nigeria to be passed by legislative. The passing of the budget is responsible for the execution of various Federal projects. During ex-President Olusegun Obasanjo’s administration, the budget was delayed till February. For late former President Umaru Yar’Adua, the Appropriation Bill was passed on April 22 while ex-President Goodluck Jonathan signed the country’s budget into law on May 24, 2018. The longest budget so far to be passed into law is the 2018 budget which was signed into law on June 20, 2018, by President Muhammadu Buhari. While signing the budget into law, President Buhari noted that the budget was passed by the National Assembly seven months after he had submitted the proposals. While the Federal Government’s budget represents less than 10% of aggregate yearly expenditures in the economy, it has a very significant accelerator effect on the financial plans of other tiers of government, and even more importantly, the private sector, which mostly operates on a January-December financial year. President Buhari is unhappy and worried President Buhari has expressed worries over the substantial cut of N347 billion for 4,700 projects by the National Assembly and replaced with N578 billion for 6,403 projects. Buhari said: “I am however concerned about some of the changes @nassnigeria has made to the budget proposals I presented. The logic behind the Constitutional direction that budgets should be proposed by the Executive is that it is the Executive that knows & defines its policies & projects. “Unfortunately, that has not been given much regard in what has been sent to me. Many of the projects cut are critical and may be difficult, if not impossible, to implement with the reduced allocation. Some of the new projects inserted by National Assembly have not been properly conceptualized, designed and cost and will, therefore, be difficult to execute.” Project affected by the cuts on 2018 Budget President Buhari has reiterated that the cut in the 2018 budget will affect several projects. According to the Presidency, here is a list of the projects that will be affected as a result of the cut. A total of N5 billion was cut from the provisions for Pension Redemption Fund and Public Service Wage Adjustment. The provision for Construction of the Terminal Building at Enugu Airport was cut from N2 billion to N500 million, which will further delay the completion of this critical project. The Take-off Grant for the Maritime University in Delta State, a key strategic initiative of the Federal Government, was cut from N5 billion to N3.4 billion. About 70 new road projects have been inserted into the budget of the Federal Ministry of Power, Works, and Housing. In doing so, the legislative arm applied some of the additional funds expected from the upward review of the oil price benchmark to the Ministry’s vote. The NASS increased the provisions for Statutory Transfers by an aggregate of N73.96 billion.