President Buhari 2022 Budget of 'economic growth and sustainability' breakdown
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Nigeria president Muhammadu Buhari say di kontri go do new borrowing of N5.01 trillion to take fund di N6.2 trillion shortage for di 2022 budget alias spend money.
President Buhari tok dis one as im present im administration last full-year budget wey dem call Budget of Economic Growth and Sustainability, to di National Assembly on Thursday October 7.
Di president say many Nigerians dey worry about di high borrowing, and dia worry dey understandable but di kontri "debt level still dey witin sustainable limit."
Di estimate for di first-in-history gender-responsive budgeting dey projected at about N16.39 trillion.
Di president say di ministries, departments and agencies (MDAs) incorporate gender-responsive budgeting to enable di goment distribute budget fairly and reach vulnerable groups.
Revenue wey di goment dey expect to make from witin di kontri na:
- N12.72 trn from federally contributable revenue
- N17.7 trn from federally collectable revenue, and
- N10.13 trn na revenue wey dey available including aids and grants.
To justify di 2021 borrowing, oga Buhari say im goment use di loan to finance critical capital projects wey improve economic environment and public service to di pipo.
Dis capital projects include major road constructions, power sector project, portable water, irrigation and dams construction across di kontri, and healthcare projects like buying vaccines, fighting polio and improving primary healthcare. Dis projects, di president say, dem go still improve on dem for 2022.
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Focus of 2022 budget
"Defence and internal security go be our top priority," di president tok.
Di president say di budget go focus on diversifying di economy through Micro Small and Medium Enterprise (MSME).
Dem go also invest in critical infrastructure, make security stronger and ensure good governance. Dem also want to "enable vibrant, educated and healthy population; reduce poverty and minimize regional, economic and social differences."
Goment sector by sector breakdown?
Security
Defence and Security get 2.41 trillion of di budget moni.
Dis figure na about 22 percent of di kontri total budget and e pass last year own.
Dis year Budget of Economic Growth and Sustainability prioritise Defence and Security.
President Muhammadu Buhari say internal security go be in top agenda and e go equip all security officers dem for di kontri.
Education:
Education get 1.290 billion dat na about 7.9 percent of di kontri budget.
Expert don cry plenti on top di standard of education for Naija and sake of say about 10 million pikin dem no dey go school and illiteracy level high,
Last year di sector get 545.1 billion but goment say di increase na to fix di kontri.
Health
Di health sector get 820.2 billion and na five percent of di kontri total budget.
Di moni include hazard allowance for doctors, some capital projects and payment of salaries.
Last year ministry of health get 380.21 billion.
Di goment wan strengthen national emergency medical service and ambulance system.
Goment wan use di budget moni to buy vaccines, deal wit polio and upgrade di primary health care across di six geo-political zone
Works/Housing
Di Federal ministry of Housing get 418.9 from di budget.
Di president say dem go use dis tenure to complete major roads and rail project.
Budget Finance
Di goment plan di budget on oil price of $57 dollars.
And di goment dey expect to produce daily 1.88 million barrel of oil per day.
Dem also base di exchange rate be 410.15 dollar.
Di goment say e borrow 5.1 trillion to finance di budget.
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