Nigeria '2018 Budget of Consolidation': Why budget dey get name?
Nigeria don ready with dia budget for 2018, wey dem call 'Budget of Consolidation' to help di economy recover from di first recession for di country for 25 years.
President Muhammadu Buhari announce budget of 8.6 trillion naira ($28.1bn) for inside speech wey last one hour and five minutes.
Every year, Nigeria budget dey always come with im own name. Di name for 2018 own, according to President Buhari, na "Budget of Consolidation".
When Buhari imsef talk di name of dis new budget, e say "our main work na to build on top wetin we don do before. We go maintain those rules to increase money like di way e be for last two budgets."
Di budget names dey come from di plan wey di Nigeria government get for di year based on wetin dem wan achieve. Dis na according to Kenneth Erikume, partner for PwC Nigeria, one company wey dey do work wey include money matter dem.
Erikume say di reason Buhari government use 'Consolidation' fit be say as di country dey come out of recession, all di things wey dem don dey do come from 2015 go get head for 2018, wey be di year before Nigerians get to vote for new government.
"Dis na dia last opportunity to show Nigerians say all di things wey dem don dey do dey work," Erikume add.
Im also talk say: "But at di end of di day dis budget name no really mean anything because wetin dey important na whether dem do as dem plan."
Sometimes wetin di government get for mind for di name no happen like dem think am. For 2015 budget, Goodluck Jonathan wey be di president then, call am "Transition Budget" because for am, dem wan focus on how to "manage small money wey dey, so that dem go change to economy wey no go dey depend on oil" and at di same time, dem go try protect people wey e fit affect.
Transition mean say make something change from one thing to another but at di end of 2015, Nigeria still dey take 'oil money' to run economy.
Nigeria Budget names for last 8 years
2018: Budget of Consolidation
2017: Budget of Recovery and Growth
2016: Budget of Change
2015: Transition Budget & Hope
2014: Budget for Job Creation and Inclusive Growth
2013: Budget of fiscal Consolidation with Inclusive Growth
2012: Budget of fiscal Consolidation, inclusive growth and job creation
2011: Budget of fiscal Consolidation inclusive economic growth and employment generation
5 things to know about di 2018 Nigeria budget
16% - Percentage of how total money take high pass di 2017 own
7% - Percentage of di budget wey dey for education. (E small pass 2017 own wey bi 7.4%)
12.4% - Inflation rate.
N555.88 billion - Biggest money go go to Ministry of Power, Works and Housing
N40.3 billion - Smallest money go go to Federal Capital Territory
Nigeria wey be di biggest oil producer for Africa enter recession for 2015 after price of oil for world market go down but di country dey recover small small.