A Review of the Nigerian Energy Industry

Facts, figures behind Nigeria’s 2012 budget proposals

13 December 2011, Sweetcrude, ABUJA – Below are the facts and figures in Nigeria’s 2012 budget proposals as presented by President Goodluck Jonathan to a joint session of the National Assembly, Tuesday, as captured by our reporter Henry Umoru.

*Estimated oil production of 2.48 million barrels per day (mbpd)

*Benchmark oil price of US$70/barrel

*Exchange rate of NGN155/US$;

*Projected GDP growth rate of 7.2%; and

*Projected inflation rate of 9.5%.

*The sum of N4.749 trillion is appropriated for 2012, an increase of 6% over 2011 budget.

*The aggregate expenditure comprises N398 billion for Statutory Transfers,

*N560 billion for Debt Service

*N2.472 trillion for Recurrent (Non-Debt) Expenditure.

*Recurrent Expenditure -N2.472trillion for Recurrent (Non-Debt) Expenditure

*Capital Expenditure- N1.32 trillion representing a 15% increase

Allocation To Critical Sectors Of The Economy

SECURITY- N921.91 billion;

POWER -161.42 billion; Works – N180.8 billion;

EDUCATION [excluding Universal Basic Education Commission, Petroleum Technology Development Trust Fund (PTDF) & Education Trust Fund] – N400.15 billion;

HEALTH – N282.77 billion




AVIATION – N49.23 billion

TRANSPORT – N54.83 billion

LANDS AND HOUSING – N26.49 billion


NIGER DELTA – N59.72 billion



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    The security sector got the share of about 1 billion Naira, while sadly enough, the agricultural sector and rural development got only 78.98 billion Naira.
    A question to ask is the federal government think that recruiting of more forces and equipping them with sophisticated weapons and anti-bullet jackets and vehicles will solve the security problems facing the country while millions of unemployed Nigerians are roaming every corner and streets? Other millions are sleeping with empty stomach? This is what is called “A BULLSHIT” 08036305189).

  • timm

    Bro. Jona. Think that those black ants can secure nigeria. The problem of Nigeria over security is NIGERIAN. Unemployment, poverty, strike, incompetent security chiefs are to be tackle before any problem of insecurity can be solved in this country. IT IS ONLY GOD THAT SOLVE THE PROBLEM OF INSECURITY IN NIGERIA.

  • kay

    Me i no understand dis kin tin again o. We think say oga GOODLUCK go do us fine na im make us vote for am. But now wen power don enter him hand finish na so he dey spit for our face. Na only God go help us o.

  • James

    Jona shud av spend more on agriculture. Cos no amount of money can stop those blank goat frm collectin egun…. Is in their blood already

  • Hopewell

    The solution of failed oil sector is to privatise the NNPC and set the Min. Of Petroleum Resources as a major regulator. Govt has no business in doing business because govt business is no man business.

  • Clement Peter

    It’s not d amount of money put into a sector dat wil determine d effectiveness of dat sector. All we need re people wth d right mind and attitude to work. May God help u Jonathan to find such people.

  • Fezo Aigbogun festus

    I’m tired of all this money that ‘ll not be accountd for later.. If #x was given to a sector in the last budget nd dat ministry did jst ahand full, when it was in its capacity to ve done much, logically re u xpectd to reduce or increase fundin…. For xamble security has always been funded well but lot of miss management, re we xpectd to stil pump more money their? Can u imargine the way they re addressin power nd education in ths country.. We re not living n d desert,but can not bost of a city wif even if not up to dat tech, but at list clean purify pipe burne water. Mr president we re tired of u already

  • No wonder they conspired for BH in other to divert that huge sum to the security.