This is the eleventh piece in the #SaatahBudgetSeries. Before I begin, let me first make it known that analysing the 2016 budget has not been an easy task. It has come with what I will call a side effect, and that side effect is that I have become numb to the absurdities that abound in the 1810 page document. This numbness might end up affecting my analysis, by reducing the number of illogical budget provisions I will bring to your attention, as I have begun to see some ludicrous sums and provisions as “normal.”
The budget I will be analysing today is that of the Federal Ministry of Finance and the Federal Ministry of Industry, Trade and Investment. The Federal Ministry of Finance has fifty six agencies/institution under it. Since it will take time and space to start listing all of them, I will instead pick those of interest and analyse.
FEDERAL MINISTRY OF FINANCE
The Federal Ministry of Finance has a total budget of 1,486,512,101,559; 1,485,692,901,559 is for “Recurrent Expenditure” while 819,200,000 is for “Capital Expenditure.”
The Federal Ministry of Finance will spend 225,000,000 on “Local Training,” while 50,000,000 will be spent on the “Rehabilitation/Repairs of Office Buildings.”
120,000,000 will be used to purchase “Security Equipment,” while 200,000,000 will be used to acquire “Computer Software.”
The Debt Management Office got me confused with a particular provision. 600,962 is budgeted for International Training” while the budget for International Travel and Transport: Training” is 10,862,996. I might be wrong, but it does not make sense.
Under “Insurance Premium,” 113,440,000,000 is budgeted for “Interest-Internal Public Debt.” Yet, there’s a separate line item of “Interest-Internal Public Debt,” with a budget of 1,307,400,000,000.
“Interest-External Public Debt” has 54,480,000,000 budgeted for it. By the way, I just read in the news recently that the Federal Government is asking the World Bank for a $3.8 billion “Emergency loan.” It is a very stupid thing to do when our budget is filled with frivolities, frivolities like the Federal Ministry of Communication Technology budgeting one billion Naira for the purchase of chairs and tables.
The Office of the Accountant General of The Federation budgeted 259,523 for the “Provision of Borehole at FPO Lokoja.” Now, this is reasonable right? Yes. But let us take a look at what 10,647,000 was budgeted for, “Provision of Borehole at FPO Awka, Calabar and Yenagoa.” If we divide the 10,647,000 amongst the three FPO’s, we will have 3,549,000 for each borehole
FEDERAL MINISTRY OF INDUSTRY, TRADE AND INVESTMENT
The Federal Ministry of Industry, Trade and Investment has a total budget of 16,682,662,867; 10,592,662,867 is for “Recurrent Expenditure” while 6,090,000,000 is for “Capital Expenditure.”
Let me start with the 583,226,200 that is budgeted for “Research and Development.” This is over 700% increase from what was budgeted for this same item in 2014, 86,504,133 and over 150% increase from that of the 2015 budget, 300,000,000. If you have read my previous analysis of the budget, you would remember what I said about “Research and Development” and how it seems to be the cover to appropriate huge sums that will be difficult to trace. 356,000,000 is budgeted for “Monitoring and Evaluation.” This is over 500% increase from the 2014, 54,426,803 budget while no provision was made for this in the 2015 budget.
142,100,000 will be spent on “Data Collection for Necessary Updates,” while 80,145,000 is for the “Purchase of Computers for Departments.” I do not know what the “Necessary Updates” are and if they would actually cost that much, so I will not write about it. As for the computers, 340,000 is also budgeted for the purchase of “5 Desktop Computers,” while 900,000 is budgeted for the purchase of “10 Laptops.” The question I want to ask is, what is the difference between all these and the 80,145,000 budgeted for computers for department?
Everything seems to be Necessary to the guys at the Federal Ministry of Trade, Commerce and Investment, from “Necessary Updates” to the “Presentation of Necessary Facts and Documents” where 2,400,000 is budgeted.
552,326,000 is what the Federal Ministry of Trade, Commerce and Investment will spend on “Set of NADII Manual and Program Event.” If this particular “Manual” and “Event” does not increase our foreign exchange by at least 30%, the brain behind it should be given a compulsory retirement vacation at the DSS HQTRS.
The Federal Ministry of Trade, Commerce and Investment has a budget of 1,002,000,000 for the “Rehabilitation/Repairs of Office Buildings.” I am happy we are not building new offices; maybe we would have robbed the World Bank.
We have an institution called Centre for Automotive Design and Development. From their name, I can deduce that their job is to design and develop motor vehicles. This is a good thing right? They have a total budget of 112,756,160, yes, this is the point where you fold your hands on your chest and utter the phrase “Chai! Diaris god o.” if you did not make use of that phrase, maybe because you did not see any reason to, I will give you one: out of the 112,756,160 budget, 109,824,611 is for “Salaries” while the remaining 2,931,549 is for “Overhead.” Imagine a Centre for Automotive Design and Development without a capital budget, where more than 90% of its budget is for “Salaries” they might just be designing and developing pot-bellied workers there.
Hey guys! We have a National Automotive Council, maybe they have something better. Let us take a look at their budget. 146,811,775 is the total budget; 143,905,636 is the total “Personnel Cost” while the 2,906,139 left is for “Overhead.” Can you see that the people running this country do not have common sense?
We also have an Industrial Training Fund, and the name alone should be self-explanatory. Their entire budget is 970,277,711; 937,008,848 is the total for “Personnel” while 33,268,863 is the total for “Overhead.” Apart from “training” for their salaries, I wonder what else happens in this agency. It must be a very difficult job.
The Nigeria Export Council budgeted 21,450,000 for “Production.” What are they producing? That detail is too vague; is it a movie production, a music video production, potato chips production, marijuana, or a Wale Adenuga production? We need to know.
The Nigeria Export Council budgeted 19,550,000 for “Infrastructure,” another 8,800,000 for “Infrastructure,” another 1,096,500 for “Infrastructure,” and yet another 15,241,300 for “Infrastructure.”
21,448,800 is budgeted for “Rentals.” Now, how do we know what is being rented? It might be canopies, it might be movie rentals. What will be rented?
The Nigeria Export Processing Zones Authority budgeted for 109,875,460 “Local Travel and Transport: Training” for a “Training” that will cost 10,183,579.
203,256,303 is what the Consumer Protection Council will spend to “Purchase Computers.” Bear in mind that this is more than what the Federal Ministry of Science and Technology will spend on the same item.
Small and Medium Enterprises Development Agency of Nigeria (SMEDEN) budgeted 31,066,170 for 6 Toyota Corolla and 1 Toyota Camry. That is not all. SMEDEN went on to budget another 124,139,267 for 6 Toyota Corolla and 1 Toyota Camry. So in total, 6 Toyota Corolla and 1 Camry will cost SMEDEN 155,205,437. You see how evil this pillaging is?
We have come to the end of the eleventh piece in my budget analysis series and I usual, I have an in-between for you: The Federal Ministry of Labour and Employment will spend 3,008,000 for “Memo Preparation to FEC.” FEC there means the Federal Executive Council. Have a wonderful day!
Saatah Nubari is on Twitter @Saatah
It is the policy of NewsWireNGR not to endorse or oppose any opinion expressed by a User or Content provided by a User, Contributor, or other independent party.
Opinion pieces and contributions are the opinions of the writers only and do not represent the opinions of NewsWireNGR.