BudgIT Nigeria Profile picture
Dec 13 5 tweets 4 min read
We conducted an analysis on the quality of @nassnigeria’s FG Budget reviews. Our findings point to gross abuse of appropriation powers, fueling inefficiency & waste that contribute to poor service delivery and ineffective economic policy.

See more: yourbudgit.com/data/ 1/5
1,522 projects with a cumulative cost of N186.61bn were inserted into the #2022budget of @FmardNg. Key allocations to projects that are crucial to achieving the strategic goal of the Nat Devt Plan were drastically reduced to create fiscal space for the @nassnigeria insertions.2/5
Worrisomely, a number of projects in the 2022 approved budget can be directly linked to principal officers of the National Assembly. It would seem that National Assembly members are becoming more emboldened to put their names on public projects funded with taxpayers' money. 3/5
If change must be in sight, the Judiciary, though ordinarily not part of the budgetary process, can make a significant impact, specifically in Nigeria’s case. There needs to be a final judicial pronouncement on the scope of the powers of appropriation granted to the National…4/5
...Assembly in the constitution, especially as it regards the authority to arbitrarily insert new capital projects in the annual budget. The @officialEFCC & @icpcnigeria need to prosecute cases of abuse, corruption, & financial recklessness associated with the budget process. 5/5

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with BudgIT Nigeria

BudgIT Nigeria Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @BudgITng

Dec 12
How is the @NigeriaGov improving public procurement? Is SFTAS intervention working?

According to the @WorldBank SFTAS assessment report, only 15 of 36 states met the DLI 6.1 requirement, while 16 met the DLI 6.2 requirement and published data on all contracts awarded.

Thread!
Let’s take a step back to understand open contracting!

Open contracting is a system of procurement that allows disclosure of procurement data at all stages and engagement and feedback from other stakeholders. #FixOurOil
To improve public procurement, the @NigeriaGov created a portal that allows the increase and disclosure of procurement information to all stakeholders to ensure efficient service delivery, improved transparency, and accountability. #FixOurOil
Read 8 tweets
Nov 1
Hello Nigerians,

President @MBuhari has proposed a record budget of N20.51tn for the 2023 fiscal year. This is anchored on a revenue projection of N9.73tn & a deficit of N10.78tn. The budget, If approved, will be 19.80% higher than the N17.12tn approved for 2022.

Thread
Of the total N20.51tn, debt service has the highest allocation of N6.31trn, while personnel cost and capital expenditure will gulp N4.99tn & N4.93tn, respectively. N744.11b has been earmarked for statutory transfer, of which the @nassnigeria & @njcNig will receive N159b & N150b.
To finance the budget, the Federal Government projects an oil production of 1.69 million barrels per day at $70 per barrel. The projected GDP growth will be at 3.75% with an exchange rate of N435.57/$ and an inflation rate of 17.16%.
Read 9 tweets
Oct 31
@BudgITng, in collaboration with @oxfam, continues to advocate for accountability and transparency in the extractive sector through #opencontracting. #FixOurOil

Thread!
Open contracting is a procurement method that supports feedback and increases competition among potential contractors. It is crucial for transparency purposes and will help prevent fraud and corruption. #FixOurOil
Countries worldwide are adopting open contracting to promote best practices for public procurement disclosures and participation. Nigeria is one of the countries making great efforts to increase contract transparency. #FixOurOil
Read 7 tweets
Aug 26
All you should know about FG's allocation to the security sector in 2022.

Let's start with the Nigerian Army's budget which stood at N580bn.

Of this amount, the agency planned to spend N2.4bn on ammunition, N3.35bn on ADV weapons simulator and N3bn on accommodation.

Thread! Image
Let's take a step backwards.

FG's total budget for security in 2022 stood at N2.7tn. Of this amount, personnel cost raked in N1.98tn while capital expenditure stood at N329bn. Image
A further breakdown shows the amount earmarked for each security outfit.

Defence: N1.19tn
Ministry of Interior: N297.1bn
Police: N783bn and the
Office of the NSA: N212.7bn. Image
Read 8 tweets
Jul 25
Dear @MBuhari,

Between Jan & Apr 2022 alone, Nigeria spent >100% of its revenue on debt service, surpassing IMF's prediction for 2026.

This is amidst growing subsidy payments and a 13-month high inflation of 17.7% that has pushed many into poverty.

We are concerned.

Thread!
In our Consultation Memo released in Feb 2022, we highlighted several reform issues bordering on Nigeria’s public financial management that affect the very core of governance, separation of powers, expenditure efficiency, and the livelihoods of millions of Nigerians;
...83 million of whom live in extreme poverty.

4 months later, some of those challenges still persist, with additional ones that-if not properly managed, would fiscal crisis for an already impoverished nation.
Read 13 tweets
Apr 5
Key figures from the Solid Minerals Sector in 2020

-The sector contributed 0.45% to Nigeria's total GDP.

-Total contribution to total export declined by 89%

-FG earned N128bn from solid minerals

-No evidence of royalty payments from 25 enterprises that exported minerals

🧵
The sector contributed 0.45% to Nigeria’s GDP, while its contribution to the total export declined by 89% in 2020.
There was a 19% increase in the volume of solid minerals sold.
Read 6 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(