Thread by @Bokanarewa_

OPINION ON THE BUDGET ALLEGATIONS
In Nigerian finance we have
1. Consolidate Revenue Fund.
2. Federation Account.

The Nigerian Budget has 4 components;
1. Statutory Allocation:
This money, even if Fire is raining, no one can touch it..it's a must and be given.
#BokanArewa

It's mostly allocated from the CRF that's why you'd see UBE getting 2% of CRF,
UBHPF getting 1%, INEC, NASS all get their allocation from FG and it's backed by law.
Nass has no check and balance, all they do is backed by the law.
#BokanArewa

If Buhari refuse to sign this fund to them, he will be Tagged Tyrant and Dictator for going against the Constitution.
All the noise that FG has reduced the budgets for health and Education is technically wrong because they FG don't determine it.
#BokanArewa

The performance of our Economy determines the percentage of money they'll get. Mathematically, if the economy makes 1000 naira, those getting 2% will get 20 while those getting 1% will get 10.

#BokanArewa

If Covid-19 happens and your budget drops by over 50% and the performance is 600.
2% is now 12 while 1% is 6.
If the Performance of the Economy determines this, why then will our dumb Media report otherwise?

2. We have the Debt Servicing

#BokanArewa

3. Recurrent Expenditure
4. Capital Expenditure

It's not much of a Rocket Sciences if you're not blinded by sentiments.

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