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Nigeria’s 2014 National Budget is…N4.69 TRILLION!

BellaNaija.com

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1000 naira bills (Nigerian currency)

After much delay, its finally here! The Senate on Wednesday, passed Nigeria’s 2014 budget of N4.69 trillion.

The budget was supposed to have been passed since January 2014, which was the beginning of the fiscal year. However, the House of Representatives reportedly took its time reviewing the budget in order to ensure that it would best serve the general interest of Nigerians.

The currently approved budget is N53 billion more than the originally proposed budget of N4.642 trillion which President Goodluck Jonathan requested for in December 2013.

The sectors with the highest amount of funds allocated to them are:  Education (N424.3 billion) and Defence (N349.7 billion).

The National budget for  2013 budget was N4.987 trillion – N308 billion more than the current budget.

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So Bella Naijarians, what do you think of the 2014 National budget? If you had the power to decide what sectors to allocate most of the funds to, which would you choose? Let’s talk about it!

Photo Credit: www.stockarchive.photoshelter.com/Irene Abdou Photography

16 Comments

  1. suneme

    April 9, 2014 at 5:16 pm

    about 15% will actually get used properly. that’s my reckoning anyway

  2. Concerned_Boyfriend

    April 9, 2014 at 5:27 pm

    How much is that in US$ ?.

    • random

      April 9, 2014 at 6:00 pm

      Calculator is your friend.

    • Mojocentric

      April 9, 2014 at 6:15 pm

      U r rude sha, ur bow legs like vernier caliper

    • Tosin

      April 9, 2014 at 8:22 pm

      Assuming 166.66 naira to a dollar, here’s a trick: multiply by 6 and divide by 1000. 4.7 trillion naira is just over 28 billion dollars.
      To go from dollars to naira, multiply by 1000 and divide by 6. Comprendre?

  3. www.molokwupeter.blogspot.com

    April 9, 2014 at 5:29 pm

    i think i will allocate about 55% to education,cause that is our priority in nigeria

  4. Khloe

    April 9, 2014 at 5:39 pm

    The important and relevant question is whether this budget WILL be used for its intended purpose, as opposed to our leaders squandering them for their selfish gains!
    Every fiscal year, the country releases thrillions of Naira in budget, but the country is worse off than we were 50years ago. It is actually pretty sad.
    May thunder fire every greedy hand that embezzles this money! AMENNNN!!

  5. Keziah

    April 9, 2014 at 6:19 pm

    May the wrath of God deal with anybody that uses this money for their own selfish and greedy need instead of using it to help Nigeria and its people.
    I don’t wish death on anyone but its high time people should start reaping what they sow. I ask for this my father in Heaven.

    • Winny

      April 9, 2014 at 9:01 pm

      DOUBLE DOUBLE AMEEEEEN!!!!!

    • Winny

      April 9, 2014 at 9:04 pm

      @Keziah A DOUBLE DOUBLE AMEEEEEN TO THAT PRAYER. ENOUGH OF THIS RAPING OF OUR RESOURCES.

  6. aigbe s.

    April 9, 2014 at 6:58 pm

    I pray for God’s wisdom and fear on those that will distribute/use this money.

  7. Ivie

    April 9, 2014 at 7:14 pm

    hmmmm…..hope this will be effective and visible.

  8. Abeeee

    April 9, 2014 at 7:53 pm

    I like how education is top priority, what about infrastructure? Let’s hope the money gets to those sectors in one piece. Tell your daddies and mummies in Abuja to take it easy on the pinching 🙂
    Love the new mobile view!

  9. Tosin

    April 9, 2014 at 8:18 pm

    We’re stuck with more than 2/3 recurrent expenditure and the little left goes into capital expenditure. The structure sucks. The part of the revenue from oil is “free” money, which is so easily wasted, so what you do is use that only for solid investments (stuff like dams and road/rail networks, or water and internet and power, or building a tourism industry with airports and hotels like Dubai did, or an agric industry or something like that.) We’re not doing that.
    We’re spending everything on basically running expenses instead of long-term investments.

    What we ARE doing right is admitting the failure of Fed Govt in power, transport, etc, and making an effort to hand those off to better management. But we’re doing it sooooo slowwwwly.
    What we’re doing wrong is continuing to concentrate resources in the hands of the few, the fat, the unproductive, while the many starve.
    If only we had the courage to do what we already know is necessary and right, the courage to implement our own planning documents, carry out the recommendations of our own panels, … if only we had the courage to send thieves to jail.

  10. Stephanie

    April 10, 2014 at 4:10 am

    Too much money things
    blogsvila.blogspot.com

  11. fanu

    May 13, 2014 at 4:36 am

    we have to learn to take responsibilities of our inactions and failures both as leaders and citizens.

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