Nigeria’ 2013 Budget: Jonathan Presents N4.92 Trillion

nigeria 2013 budget

Oct 10, 2012 – Nigeria’ 2013 Budget: Jonathan Presents N4.92 Trillion

President Goodluck Ebele Jonathan this morning presented an estimated budget proposal of N4.92trillion for the 2013 fiscal year.naijagists.com

This is a modest leap from the N4.7trillion presented in 2012. Out of this, the sum of N380.02bn is for statutory transfer, a total of N591.76 is budgeted for debt servicing; N2.41trillion is for recurrent non-debt expenditure and N1.54trillion for capital expenditure. These are expected to be financed with an estimated revenue of N3.98trillion.

The budget proposal is predicated on oil production of 2.53million barrels per day and a benchmark of $75/barrel. This is however contrary to demand by the House of Representatives that the oil benchmark be based on $80/barrel as evident in its resolution during the consideration of the 2013 revenue expenditure framework.

In the highlights of the proposal, education and Security took the chunk of the allocation. Education takes N426.56bn, Defence N378.91bn, Police N319.65bn and Health N279.23bn. Other key allocations are Works N186.5bn, Agriculture N81.41bn and Power N74.26bn. The SURE-P was allocated N180bn and is to be augmented by the unspent allocation which will take the total intervention fund to N273bn.

The president, who maintained that the government intends to continue the policy of fiscal discipline also disclosed that the country expects a total of 6.5 per cent GDP growth within the fiscal year while the foreign reserve has grown to $41.6bn, the highest in two years.

The budget proposal, which according to the President is a product of extensive consultation with experts and key stakeholders is targeted at rapid development of infrastructure.

The 2013 budget, which seeks to promote the four key pillars of the 2012 budget which includes the macro/micro economic stability has a theme of fiscal consolidation and inclusive growth. The government also seeks to reduce public borrowing within the 2013 fiscal year.(pmreports)

Read Nigeria’s 2013 Budget Breakdown

23 thoughts on “Nigeria’ 2013 Budget: Jonathan Presents N4.92 Trillion

  1. I must commend the president for the early presentation of the budget.I must commend the president for the early presentation of the budget.

  2. Kudos 2d prerident GEJ for disclosing the budget this early. He is a man in deed. Infact he will stil win 2015 presidential election. Amen!

  3. This is absolute BS. Has Nigeria improved much from the last budget. Our roads are a state and how much do the president and his family need to eat? Do they import all of their meals ready made? Did it ever occur to him that the people that he governs last on way less than his food budget for 2013. It is ridiculous for the government to be blatantly robbing Nigerians. They don’t even care how stupid this looks. It’s a shame.

    To the supposed person who posted under four different names that the president is doing a good thing or made the right choice by disclosing the budget early, are you being serious? This is daylight robbery. I hope he loses in the next election.

  4. This is absolutely absurd. How can mr. President budget so little for agriculture, After all the floodings and washed away farm lands and crops? Does he want the importation of food (especially rice) items to increase after imposing huge taxation on rice and other imported food items only this year? This budget is an absolute display of incompetent government.

  5. What a debt is that, that such money is debited for,when the poor are driving on rough road, poor drinking water and low voltage of electricity. If mr president should consider the over listed problems then we nigerians agry with such both if not then may god revenge such 4 the poor.

  6. Well, the budget is dear to our hearts. As Economists, we are pertinent on at least 90% implementation. We are also looking intently on how the macro-policy objective will positively affect the micro economy. We can only say, Good Luck!

  7. I want 2 urge mr president,2 possess victory,and make sure each items was fully monitor @supervise from head to tail,and enclose it with good intention.best of luck

  8. So..naija get dis kind money nd we re suffering lik dis. answer dis question all d money wey FG has bn budgetn since all dis years, av dey been using it d way dey suppose 2 use it. Nd is it all d money wey den dey budget 4 is bn used witout putn som in dia pocket? I pray dat all d leaders of nigeria wey dey spoil dis country 4 us, God go punish dem including dia children. Lets join hands 2geda so as 4 us 2 be 1! Lets do it 2geda. Thanks!

  9. They are only fooling thrselve n nt us…cos soon one of thm wil loot away wt d money n nufn wl b done to it…they are d only benefactor to all ds arrangees…GEJ my ass

  10. i wishe nigeria to use this money in a better way that all the nigerian will say our leders are doing well god bless nigerian god bless our ledrs ameen

  11. 4.9 trillion? A whole lot of money and we are still sufering? We shall see to it.
    Advice urself Nigerians, advice urself mr president and it shall be well with the country.

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