BudgIT Nigeria Profile picture
Jun 4, 2020 28 tweets 8 min read Read on X
Our virtual press conference on the Open Treasury Portal is now live!

Stay tuned for updates!
#OpenTreasury
On the 9th of December, 2019, the Federal Government launched the Open Treasury Portal for the purpose of increasing transparency in government spending
We appreciate this great effort by the government to ensure fiscal transparency. Our review highlights the functionality, advantages and some of the defects that we noticed - Ojiugo Uche
From our report, we summarized the defects, issues and faulty lines into 10 important questions

#OpenTreasury
Question 1: How can interested citizens along with stakeholders reliably reach out with questions about the platform and its contents?

#OpenTreasury
We discovered that, though the phone number provided on the platform does not connect to any individual and the contact form cannot be successfully submitted.

#OpenTreasury
2. What is the basis of prioritizing spend?

#OpenTreasury
@FinMinNigeria received 158,05% of their allocation in 2019 but the @NCDCgov only received 44%. Nevertheless, there is nowhere either on this platform or on other platforms, the rationale that informed this spend prioritization decision is indicated.
3. Why are the budget figures different from those in the Appropriation Act?

#OpenTreasury
There is a discrepancy between the figures noted as “2019 Budget” and the budget figure as contained in the 2019 Appropriation act without any explanation provided for this
discrepancy.

#OpenTreasury
4. What is the explanation for making several payments on the same day to the same beneficiary?

#OpenTreasury
While some of these payments appear to be duplicates (e.g. with the same amount paid), others reflect different payment amounts made to the same beneficiary on the same day with different amounts and with the same descriptions.

#OpenTreasury
5. Why are large payments being made to personal accounts as opposed to company accounts?

#OpenTreasury
Since government contracts are with companies, the
expectation is that payments are likewise made to companies and not individuals. Where this is not the case, an explanation is required to ensure full transparency

#OpenTreasury
One of such payments is that of N 157m, made to an individual account with the description “For transfer to NCDC for emergency Lassa Fever Response’’ which begs the question of why the beneficiary account did not read “NCDC”.
This particular example doubly needs an explanation as the payment record was also duplicated in that day’s record.

#OpenTreasury
6. How can the public easily view all payments made to a particular beneficiary?
7. Why are there capital payments at the end of the year when project implementation is then impossible?

#OpenTreasury
8. What are these payments amounts which do not indicate ministry name, organization and beneficiary name?

#OpenTreasury
Having payment records without corresponding information on ministry, organization and beneficiary is akin to stating that millions of naira were spent but are not traceable.
9. What are explanations for the multitude of payments with either no description or incomprehensible descriptions?

#OpenTreasury
Without descriptions, public evaluation and understanding of payment records is hindered and the purpose of the platform is not fully realized.

#OpenTreasury
10. How can one track spend from the IMF RFI Loan?

#OpenTreasury
The 10 questions about the Open Treasury Platform and its data makes bare the weaknesses of the platform. Based on the observations and unanswered questions above...

#OpenTreasury
...we recommend 3 broad classes of actions to improve user experience on the platform, to increase the transparency
of the data available and to engage beyond the platform.

#OpenTreasury
Our Principal lead, @GabsynGreat is currently reading the press release, signed by @dammyogundipe - @budgit's Communication Lead
That will be all for today. THANK YOU

#OpenTreasury
Download full report: bit.ly/open-treasury

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More from @BudgITng

May 20
🔈BREAKING: @BudgITng Uncovers 11,122 Projects Worth N6.93 Trillion Inserted by National Assembly in 2025 FG Budget.

We have combed through the 2025 FG Budget, and you will be shocked at what we found.

@nassnigeria inserted 11,122 PROJECTS worth N6.93 TRILLION into the Budget! 🤯

PRESS STATEMENT
Thread!

#2025FGBudget #AskQuestionsImage
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Our analysis reveals that 238 projects valued above N5 billion each, with a cumulative value of N2.29 trillion, were inserted with little to no justification.

984 projects worth N1.71 trillion and 1,119 projects within the range of N500 million to N1 billion, totaling N641.38 billion, were indiscriminately inserted.

#2025FGBudget #AskQuestions
A closer look shows that 3,573 projects worth N653.19 billion are assigned directly to federal constituencies and 1,972 projects worth N444.04 billion to senatorial districts.

#2025FGBudget #AskQuestions
Read 12 tweets
May 19
📢 Dear Nigerians,

The Federal Government has failed to publish a detailed revenue breakdown for the 2025 budget. This is WRONG!

N54.9 trillion was signed into law by President @officialABAT, but a breakdown of where the money will come from is no where to be found.

PRESS STATEMENT
Thread!
#2025FGBudget #AskQuestionsImage
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While references have been made to certain revenue sources, no comprehensive data has been released to allow for independent scrutiny.

#2025FGBudget #AskQuestions
Recall that the Presidency initially submitted a proposed expenditure of N47.9 trillion, which President @officialABAT later revised to N54.2 trillion through a presidential letter citing increased revenue expectations. The @nassnigeria further increased this figure to N54.9 trillion, without publishing any accompanying macroeconomic or fiscal analysis to justify the additions.

#2025FGBudget #AskQuestions
Read 7 tweets
Jan 9
🗣️ Dear Nigerians,

We have observed that the 2025 FG proposed budget submitted to the @nassnigeria for review and approval and published on the Budget Office website omits funding for the Lagos-Calabar Coastal Road as well as the budget breakdown of some MDAs, commissions, and councils, such as the National Judicial Council (N341.63 billion) and TETFUND (N940.5 billion).

PRESS STATEMENT
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#AskQuestions #GetInvolvedImage
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The 2025 Proposed Budget also excluded the budgets of over 60 government-owned enterprises (GOEs), including the Nigeria Ports Authority, Nigeria Customs Service, and the Nigerian Maritime Administration and Safety Agency (NIMASA). #AskQuestions
It is worth noting that President @officialABAT’s recent pronouncement regarding the retirement package of military generals, which includes the provision of a bulletproof SUV, fully paid foreign medical treatment, $20,000 as estacode for medical trips, and payments for domestic help, contradicts his previous commitments to reduce the cost of governance and welfare packages to top-ranked public officials and civil servants. #GetInvolved
Read 5 tweets
Aug 26, 2024
Hello Nigerians,

According to the 2023 Fiscal Accounts Report of the Accountant General of the Federation, Nigeria's Federal Government made a revenue of N5.99tn, spent N19.50tn, and recorded a deficit of N13.50tn—225% of the total revenue.

What does this mean? The government spent more than three times what it earned in revenue

Thread!
#AskQuestions
#BIR2023Image
Where did the revenue come from?

N3.80 trillion came from the Federation Account Allocation Committee (FAAC), FG share of independent revenue raked in N1.98tn, the FG share of the Federation Account contributed N2.39tn, exchange rate differences was N715.75bn, while VAT added N441.87bn.Image
How was the money spent?

Debt servicing accounted for 43.9% of the budget at N8.56tn—the largest single expense. Non-debt spending took up 27.8% at N5.42tn, while capital expenditure was 23% at N4.49tn. Image
Read 4 tweets
Jun 28, 2024
🗣️🗣️ It is worrisome that the Federal Government is drafting a 2024 Supplementary Budget to be implemented alongside the 2023 Approved Budget, 2023 Supplementary Budget, and 2024 Approved Budget.

FOUR budgets at once—an unprecedented anomaly.

Thread
Press Statement!
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Recall that the 2023 Approved Budget of N21.83 trillion, signed into law by President @MBuhari in January 2023, was designed to run for 12 calendar months from January to December, as is the practice globally.
In addition, while the 2024 Appropriation Bill was being drafted, the 2023 Supplementary Budget of N2.17 trillion was passed by the National Assembly and assented to by President @officialABAT barely two months before the end of the 2023 fiscal year.
Read 7 tweets
May 3, 2024
Hello Nigerians, our extensive analysis of the 2024 FG Budget is finally out!

Details?

The Budget is anchored on N28.78tn in total expenditure & N19.60tn in revenue, a Debt service of N8.27tn, Recurrent (Non-Debt) expenditure of N8.77tn, & Capital expenditure of N10tn.

Thread!
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The fiscal deficit is currently N9.18tn. The projected deficit represents about 50% of the federal government’s expected revenue and 3.88% of the projected GDP.

#2024BudgetNG
A look at the sector allocations shows the highest share of the total budget going to Security and Defense (13.38%), followed by Education (8.21%), Infrastructure (6.63%)…

#2024BudgetNG
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Read 9 tweets

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