A Nation on Ventilator… (1) via thisdaylive
The Verdict By Olusegun Adeniyi, Email: olusegun.adeniyi@thisdaylive.com
From ‘Nigeria’s 2016 Zero Budget!’ to ‘The Illusion of Budget Performance’ and ‘Budget War and Dysfunctional Envelope System’ as well as ‘Of Government and Budget Blues’, I have on several occasions shared perspectives that underscore the fact that what we call budget in Nigeria is basically sharing money. I have also used my personal experience in government to illustrate the point. But in a revealing Twitter thread last year, https://threadreaderapp.com/thread/1125199032756908032.
However, it is in the Ministry of Humanitarian Affairs, Disaster Management and Social Development that I fail to understand what a number of the budget line items actually mean: ‘Covid-19 Cash Transfer: President’s Directive, the Disbursement of Funds to an additional 1 million Households further ’ at a sum of N30 billion. The ministry also has N1 billion for ‘Data Collection, Validation’ as well as another N37.5 million for ‘Data Cleaning and Analysis’.
However, the best way to identify the heavy hitters is by the size of what they can take home. The Ministry of Labour will cough out N640 million for three projects: ‘Empowerment items for the people of Kano North Senatorial District’ ; ‘Empowerment items for the youths in Kano North Senatorial District’ and ‘Empowerment items for women of Kano North Senatorial District’ .
The economic and human impact of the COVID-19 pandemic on Nigeria, according to a recent World Bank position paper, “will be severe, even if Nigeria manages to contain the outbreak locally”, and this projection is based on a number of identified variables which include the fact that Nigeria’s economy and the funds available to the three tiers of government are highly dependent on sales of crude oil which account for 90% of exports, 30% of banking sector credit, and 50% of government revenues.
The foregoing prognosis does not bode well for our country and we need to begin to do something about it. That is why the current probes of financial impropriety at both the presidency and the National Assembly must go beyond media entertainment. If we must be honest, the current budgeting method suits both the executive and the legislature because everybody has something to spend regardless of whether or not it would meaningfully impact the economy in the financial year.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
VIDEO: Lesbianism is an unlawful act which shouldn’t happen- Actress Juliana OlayodeVIDEO: Lesbianism is an unlawful act which shouldn’t happen- Actress Juliana Olayode bbnaijalockdown2020 thursdaymorning
Read more »
NCC provides six helpful tips to enjoy privileges associates with FOI Act - Daily Post NigeriaThe Nigerian Communications Commission, NCC, has revealed steps Nigerians can take in order to enjoy the privileges provided by the Freedom Of Information
Read more »
Anambra FA: Ubah’s reelection act of brigandage, says NFF|p style=
Read more »
AIB Explains Why Osinbajo’s Chopper Crash-landed - THISDAYLIVEBy Chinedu Eze The Accident Investigation Bureau (AIB) has released its final report on the helicopter crash involving Vice President Yemi Osinbajo, which occurred at Kabba, Kogi state in February 2019, saying that the accident occurred because the pilot lacked landing technique. The Agusta Westland 139 chopper with registration number 5N-CML owned and operated by …
Read more »
Three Killed in Lagos Gas Explosion - THISDAYLIVEBy Sunday Ehigiator The National Emergency Management Agency (NEMA) has confirmed that three persons have lost their lives in a gas explosion which occured at Ajao Estate Area of Lagos State. The incident which occured on Tuesday night, was also said to have left several persons injured and properties destroyed. According to the National Emergency …
Read more »
MTN, Oando, Seplat, GTBank CEOs Highest Paid Executives in Nigeria - THISDAYLIVEObinna Chima The Chief Executive Officers (CEOs) of MTN Nigeria, Ferdinand Moolman; Oando Plc, Wale Tinubu; Seplat Petroleum Development Company’s outgoing Augustine Avuru, and GTBank’s Segun Agbaje, have been listed among the top 10 highest earning executives in the country. This was disclosed in a report by Proshare Nigeria Limited titled: “CEO Remuneration: Paying the …
Read more »