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See Breakdown of Buhari’s 2020 Budget
President Muhammadu Buhari on Wednesday presented his proposal for Nigeria’s 2020 budget to a joint session of the National Assembly in Abuja.
The aggregate expenditure he proposed for the Federal Government in 2020 is N10.33 trillion.
The proposal shows that about a quarter of the sum (N2.45 trillion) will be used for debt servicing, while capital expenditure is expected to gulp N2.14 trillion which excludes the capital component of statutory transfers.
A further breakdown presented by the president shows the expenditure estimate includes statutory transfers of N556.7 billion, non-debt recurrent expenditure of N4.88 trillion and provision for Sinking Fund to retire maturing bonds issued to local contractors is N296 billion.
The budget was prepared on the assumption of $57 per barrel with crude oil production of 2.18 million barrels per day and the exchange rate assumed at N305 to $1.
Other assumptions include real GDP growth of 2.93 per cent while “inflation is expected to remain slightly above single digits in 2020.”
The president said the 2020 Appropriation Bill is designed as a budget of:
a. Fiscal consolidation, to strengthen the macroeconomic environment;
b. Investing in critical infrastructure, human capital development and enabling institutions, especially in key job-creating sectors;
c. Incentivising private sector investment essential to complement the Government’s development plans, policies and programmes; and
d. Enhancing social investment programs to further deepen their impact on those marginalised and most vulnerable Nigerians.
The president also presented a Finance Bill for consideration and passage into law.
The sum of N8.155 trillion is estimated as the total Federal Government revenue in 2020 and comprises oil revenue N2.64 trillion, non-oil tax revenues of N1.81 trillion and other revenues of N3.7 trillion. This, the president said, is seven per cent higher than the 2019 comparative estimate of N7.594 trillion inclusive of the Government Owned Enterprises.
He explained that the increasing share of non-oil revenues underscores confidence in his administration’s revenue diversification strategies, going forward.
“Furthermore, in our efforts to enhance transparency and accountability, we shall continue our strict implementation of Treasury Single Account (TSA) to capture the domiciliary accounts in our foreign missions and those linked to Government-Owned Enterprises,” Mr Buhari said.
For statutory transfers, which are the first-line charge, the president said N556.7 billion has been provided for in the budget and it includes:
a. N125 billion for the National Assembly;
b. N110 billion for the Judiciary;
c. N37.83 billion for the North East Development Commission (NEDC);
d. N44.5 billion for the Basic Health Care Provision Fund (BHCPF);
e. N111.79 billion for the Universal Basic Education Commission (UBEC); and
f. N80.88 billion for the Niger Delta Development Commission (NDDC), which is now supervised by the Ministry of Niger Delta Affairs.
Mr Buhari announced the increase of the budgetary allocation to the National Human Rights Commission from N1.5 billion to N2.5 billion. This 67 per cent increase in funding is done to enable the Commission to perform its functions more effectively, he said.
The non-debt recurrent expenditure includes N3.6 trillion for personnel and pension costs, an increase of N620.28 billion over 2019. This increase reflects the new minimum wage as well as our proposals to improve remuneration and welfare of our Police and Armed Forces.
Overhead costs are projected at N426.6 billion in 2020. He said additional provisions were made only for the newly created ministries.
The Speaker of the House of Representative, Femi Gbajabiamila, in his closing remarks, promised speedy consideration of the budget as well as a cordial relationship between the National Assembly and the presidency.
Premium Times
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Your Presidential Ambition Dead on Arrival, Presidency Mocks Atiku As PDP Stalwarts Defect to APC
The Presidency has delivered a jab at former Vice President Atiku Abubakar, declaring his 2027 presidential ambition and coalition-building efforts “dead on arrival” following the defection of Delta State Governor Sheriff Oborevwori and other top PDP figures to the ruling All Progressives Congress (APC).
In separate posts on X, Presidential aides Bayo Onanuga and Tunde Rahman mocked Atiku’s attempts to rally opposition forces, saying recent developments show his coalition is crumbling before it even takes off.
Onanuga, Special Adviser to the President on Information and Strategy, wrote: “Atiku’s political future looks bleak. The coalition that he, El-Rufai, Babachir, and new member Baba-Ahmed are cobbling together has disintegrated. Potential allies, including former running mate Ifeanyi Okowa and defunct CPC members, are giving his leprous group a wide berth. Atiku is a loser again.”
Tunde Rahman, Senior Special Assistant to the President on Media and Publicity, posted earlier in the day: “Things are really getting perilous and the future looks so bleak for former Vice President Atiku Abubakar’s coalition. After the PDP governors washed their hands clean of any such coalition plan, the defunct CPC wing he is also counting on has proffered support for President Tinubu.
Today (Wednesday), he got his biggest shocker ever. His 2023 election running mate, former Delta State governor Ifeanyi Okowa, and Okowa’s successor, Governor Sheriff Oborevwori, dumped the sinking PDP ship and hopped aboard the APC plane, and by inference, crossed over to the PBAT side.
Indeed, the counting of PDP governors crossing over to APC has begun. Isn’t Atiku’s coalition dead on arrival?”
The coordinated remarks followed a major political realignment in Delta State, where the governor, his predecessor, former Governor Ifeanyi Okowa, and the entire PDP state structure defected to the APC – an event seen as a significant blow to Atiku, who has been working to form a broad opposition alliance against President Bola Tinubu ahead of the 2027 elections.
Okowa was Atiku’s running mate in the 2023 presidential election under the Peoples Democratic Party (PDP).
Atiku has yet to respond to the defection or the presidential aides’ comments, though acting national chairman Iliya Damagum earlier described the Delta exit as “unfortunate,” while insisting that the party remains focused and resilient.
The Lagos State Government has disclosed that a staggering 31,596 public school students failed the 2024 West African Senior School Certificate Examination (WASSCE), raising alarm across its education sector.
The figures, unveiled by the Lagos Commissioner for Basic and Secondary Education, Jamiu Tolani Alli-Balogun, during a ministerial press briefing on Thursday in Alausa, Ikeja, showed that 54.3% of the 58,188 students from public schools who sat for the exams failed.
The commissioner said the pass rate was 45.7%.
The failure rate comes despite the government’s significant financial backing — a whopping N1.577 billion was paid on behalf of the students to cover WAEC fees.
“Suffice to say that the sum of N1,577,794,000 (One Billion, Five Hundred and Seventy-Seven Million, Seven Hundred and Ninety-Four Thousand Naira) only was paid by the State Government as examination fees for 58,188 students who were captured for year 2024 WASSCE,” Alli-Balogun announced.
In a bid to tighten accountability and avoid wastage, the Commissioner disclosed that biometric and image registration was carried out to accurately determine eligible students for government sponsorship for the 2025 WASSCE.
“The exercise successfully captured and registered 56,134 students as bona-fide beneficiaries of the Lagos State Government’s sponsorship for the examination,” he added.
However, the Lagos State Government rolled out a bold educational intervention – the Eko Learners’ Support Programme for WASSCE and NECO Candidates – aimed at reversing the tide of academic failure in the state’s public schools.
Launched on January 14, 2025, the initiative is part of a broader commitment by the Ministry of Basic and Secondary Education to equip Lagos students with tools for success.
“This forward-thinking initiative was designed to support and empower young scholars in attestation of the Ministry’s commitment at advancing interest and management of the educational system in Lagos State,” Alli-Balogun stated.
He said with a vision to broadcast 320 lessons across 10 key subjects, including English, Mathematics, Physics, Chemistry, Biology, Economics, Government, History, Literature-in-English, and Yoruba, the programme aims to bring world-class tutoring directly into students’ homes.
Thw commissioner said each 30-minute episode would air on Lagos Television (LTV) and be archived across major platforms like YouTube, Facebook, Instagram, and X (formerly Twitter), creating a digital learning library accessible to every student.
“It is a supportive eco-system that fosters academic achievement, creativity, critical thinking… every student deserves the opportunity to attain their full potential, regardless of their background or socio-economic status,” the Commissioner declared passionately.
Alli-Balogun urged students, especially those in boarding schools, to seize this opportunity.
“It is on this note that I urge and encourage students’, more importantly, students in our boarding schools, to take full advantage of this initiative, as education is a lifelong journey,” he said.
Former Governor of Delta State, Peoples Democratic Party (PDP) presidential running mate in the 2023 election, Senator Ifeanyi Okowa, has dumped the PDP for the All Progressives Congress (APC).
Okowa confirmed the news of his defection to ARISE NEWS on Wednesday following the announcement of the current governor of Delta State, Sheriff Oborevwori, who also defected from the PDP to the APC on Wednesday.
The development was disclosed by Senator James Manager after a six-hour meeting at Government House, Asaba.
“All PDP members in the state, including the governor, former Governor Okowa, the Speaker, the state party chairman, all the local government chairmen and others, have agreed to move to the APC,” Manager stated. “We cannot continue to be in a sinking boat.”
Delta State Commissioner for Information, Mr Aniagwu Charles, officially confirmed the sweeping political shift, attributing the decision to the need for renewed direction and enhanced governance in the state.
“There is a need for us to adjust our drinking patterns. And in adjusting that drinking pattern, we needed to make a decision that would further help to cement the development in our state,” he said.
Aniagwu added that the move aimed to sustain progress in law, security, and welfare, likening the PDP to a “palm wine whose taste has changed,” necessitating a change in “drinking party”.
He further indicated that the defection was unanimously agreed upon by key PDP leaders and stakeholders in the state, with a formal public declaration expected on Monday.
“By the grace of God, on Monday next week, we will be able to make a very big statement confirming that we are moving into the APC,” he said.
The mass defection represents a dramatic realignment in Delta State’s political landscape and could significantly alter party dynamics in the broader South-South region, historically a PDP stronghold.
Okowa will be received on Monday by Vice President Kashim Shettima alongside Governor Oborevwori.
AriseNews
