Close Menu
    Facebook X (Twitter) Instagram
    Facebook X (Twitter) Instagram
    SweetCrudeReportsSweetCrudeReports
    Subscribe
    • Home
    • Oil
    • Gas
    • Power
    • Solid Minerals
    • Labour
    • Financing
    • Freight
    • Community Development
    • E-Editions
    SweetCrudeReportsSweetCrudeReports
    Home » No provision for fuel subsidy in Nigeria’s 2012 budget

    No provision for fuel subsidy in Nigeria’s 2012 budget

    December 13, 2011
    Share
    Facebook Twitter LinkedIn WhatsApp

    13 December 2011, Sweetcrude, ABUJA – President Goodluck Jonathan on Tuesday presented Nigeria’s proposed 2012 budget of N4.749 trillion to the joint session of the National Assembly, a six percent increase on the 2011’s N4.48 trillion budget.

    And no allocation was made for fuel subsidy in confirmation of the federal government’s resolve to remove the subsidy from next year despite mounting opposition, according to The Nation Newspaper.

    Capital expenditure is N1.32 trillion (28%); recurrent (non debt) expenditure will gulp N2.472 trillion (72%); statutory transfer N398bn while debt servicing will gulp N560bn.

    Breakdown of the allocations to some sectors are as follows: Security – N921.91 billion; Power [including Bulk Trader, Nelmco, and Multi-Year Tariff Order (MYTO)] -N161.42 billion; Works – N180.8 billion; Education [excluding Universal Basic Education Commission, Petroleum Technology Development Trust Fund (PTDF) and Education Trust Fund] – N400.15 billion.

    Health – N282.77 billion;and Agriculture & Rural Development – N78.98 billion. Others are: Water Resources – N39 billion; Petroleum Resources – N59.66 billion; Aviation – N49.23 billion; Transport – N54.83 billion; Lands & Housing – N26.49 billion; Science & Technology – N30.84 billion; Niger Delta – N59.72 billion;Federal Capital Territory Administration (FCTA) – N45.57 billion and Communications Technology – N18.31 billion.

    “The 2012 budget is based on a set of assumptions reflecting government’s determination to maintain prudence in the face of continued uncertainties in the external environment,” the president said.

    Senate president however noted that “Over the years, we have listened to very beautiful and impressive budget speeches eloquently delivered in this chamber. Unfortunately, the implementation has not matched the words as economic policies often lack continuity and projects are needlessly discarded or abandoned. We have what it takes to be a great nation or a world power. But we have never challenged ourselves sufficiently over the years to attain this desired goal”.

    Related News

    Nigeria’s renewable power capacity to reach 1.7GW in 2035

    Indonesia eyes Nigeria for trade, investment expansion

    Cooking gas costs overshoot N70,000 minimum wage

    E-book
    Resilience Exhibition

    Latest News

    Crude climbs on US jobs report, China talks

    June 6, 2025

    Be deliberate in securing govt facilities in your communities – IBAS

    June 6, 2025

    UAE’s power capacity to reach 79.1GW in 2035

    June 6, 2025

    Gold steady near week high as markets brace for key US jobs data

    June 6, 2025

    Nigeria’s renewable power capacity to reach 1.7GW in 2035

    June 6, 2025
    Demo
    Facebook X (Twitter) Instagram
    • Opec Daily Basket
    • Oil
    • Power
    • Gas
    • Freight
    • Financing
    • Labour
    • Technology
    • Solid Mineral
    • Conferences/Seminars
    • Community Development
    • Nigerian Content Initiative
    • Niger-Delta Question
    • Insurance
    • Other News
    • Focus
    • Feedback
    • Hanging Out With Markson

    Subscribe for Updates

    Get the latest energy news from Sweetcrudereports.

    Please wait...
    Please enter all required fields Click to hide
    Correct invalid entries Click to hide
    © 2025 Sweetcrudereports.
    • About Us
    • Advertise with us
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.