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
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.
@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?
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.
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.
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
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.
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?
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...
...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.
🔈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 #AskQuestions
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.
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.
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).
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
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
#BIR2023
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.
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.
🗣️🗣️ 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!
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.
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!
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%)…