Hello, and welcome to my podcast The Way I see it on here.
I talk money, the economy, finance, and you know it's usually around
Nigeria, but you know, sometimes it's stray. This week, the President
of Nigeria, Bala Metinobu, submitted the twenty twenty four budget to the Joint
Houses of Assembly for their consideration to pass the appropriation bill into law. That's
usual the practice. The President will go himself with some boxes, put it
in front of them, give a speech and then the National Assembly then,
you know, does the other side causing ministers the questioning. Then it's passed
and that's it. It's a budget or something usually happen. So every year,
you know, I go on a line and I look for the budget,
the line by line, see what's going on, the assumptions, you
know, to get a sense of the direction of the government and all that.
This year was slightly different. I did go to the Budget Office of
the Federation of the website that this is the office that produces the budgets,
right, I couldn't find a line by line budget that was submitted. I
don't know what was there was sexually the presentation of part or apprentiship by the
minister. Also the budget speech by the President and the medium Term Expenditure Framework
document that had already been passed a while back, but no line by line
for instance. I mean, I don't know how much University of say Nigeria
will get in twenty twenty four or the Minista of Agriculture will get in twenty
twenty four. That is what you see in the line by line right,
some a bit of a loss as what the National Assembly is then going to,
you know, perform oversight over I heard the speaker or the Sena President
tell the President that he wanted the ministers to stay around, they shouldn't travel,
so they could have a speedy passage just like the passes suppuntry budget.
But as it says, as it stands, there is no line by line
budget. This has drawn many contrastis online as you want to imagine, everyone
is saying it wasn't there. The President was not already I've had some city
in the prison, something an empty box. Some have said no, he
brought in a flash drive. So the praise on the flash drive and all
that. So although stistruction is right, I mean, i's a flash drive
that mess it digital. That means it can be uploaded right. The point
is the budget of the largest economy in Africa should not be in a debate.
We should have it and we should review it as taxpayers and see the
intent of government. Just also as the businesses in Nigeria want to see where
the government it's going in terms of policy so they can take business decisions on
their own. So it's very important to help the budget out there. It
gives clarity, it gives direction, you know, it sort of aids planning
of the private sector as a whole. The biggest controversy that I'd like to
address is that there is somehow this bubbling up allegation that the government does not
want to lease a line by aligned budget because they lease a submentary budget and
they were taken to task over the purduse of yachts and someone expendi item like
pusuers of cars or the first lead that people frown upon it in the age
of austerity. That might be understandable bodiling or option for this government. You
cannot have an opaque financial should we say, report to the people, the
people who got to the budget. And I think there is no chance that
there should be an unfortunate integration in public accountability. I believe myself that perhaps
the officer in chat the budget is away, maybe in Dubai on a holiday,
and as soon as it gets back, it's going to upload the budget
and then we can take a deeper look at it. It would be unsettling
if that was the case, that where the budget was been hidden from view.
So I hold on to that optimistic stance that the gentleman in charge of
the bullets is just on holiday and once it gets back, we can then
have a deeper point to point review of the budget. I'm looking at already.
I have the assumptions. Those we are uploaded and I'm looking at the
assumptions and I think the next podcast will do will take an in depth look
at the assumptions of Nigeria twenty twenty four budgets. So until then, let
you guys go, don't forget to get my book. It's titled Let's Talk
About Your Money. It's available on Amazon. And also if a Nigeria is
going to be available at the Robin Heights bookstore, do get one. I
think you'll find it very useful to have lots of pages talked about everything revest
into the crypto, to budget into insurance. Really, everything you can think
about real estate and still planning is soul in their rights. So get it
until we'll bless you. And don't know guys. I'll let you guys go.
I'll see you next time when we come back to talk about the assumptions
in the podject. How about one, guys, my name is Caluajer and by