Buhari budget news

Here are some recent news updates on the budget of President Muhammadu Buhari:

2022 Budget:

• On October 8, 2021, President Buhari presented the 2022 budget proposal to the National Assembly, with a total expenditure of N16.39 trillion.
• The budget proposal includes a revenue projection of N7.99 trillion and a deficit of N5.62 trillion.
• The budget is focused on infrastructure development, social welfare, and economic growth.

2021 Budget:

• In December 2020, President Buhari signed the 2021 budget into law, with a total expenditure of N13.59 trillion.
• The budget includes a revenue projection of N7.59 trillion and a deficit of N5.62 trillion.
• The budget is focused on infrastructure development, social welfare, and economic growth.

Budget Performance:

• According to the National Bureau of Statistics (NBS), the federal government's budget performance for 2020 was 98.4%, with a total expenditure of N10.69 trillion.
• The government's revenue performance was 93.4%, with a total revenue of N7.34 trillion.

Budget Challenges:

• The federal government has been facing challenges in implementing its budgets, including inadequate revenue, corruption, and inefficiencies in the budgeting process.
• The government has also been grappling with the impact of the COVID-19 pandemic on the economy, which has affected revenue projections and budget implementation.

Budget Proposals:

• In his 2022 budget proposal, President Buhari has proposed a number of initiatives, including:
  • Infrastructure development, including the construction of roads, bridges, and rail lines.
  • Social welfare programs, including the National Social Investment Program (NSIP).
  • Economic growth initiatives, including the promotion of agriculture and manufacturing.

Reactions to the Budget:

• The budget proposal has received mixed reactions from stakeholders, with some welcoming the focus on infrastructure development and social welfare, while others have expressed concerns about the high deficit and revenue projections.

I hope this information is helpful!