BudgIT Nigeria

Breaking: President Bola Ahmed Tinubu has presented the 2025 proposed budget of N47.9 trillion to the joint session of the National Assembly. This budget is to be funded by a revenue of N34.82 trillion, leaving a deficit of N13.08 trillion. Also, the government plans to spend N15.81tn to service debt, which is 45.4% of its projected revenue. The proposed budget is anchored on an oil production rate of 2.06 million barrels per day, an exchange rate of N1500/$, and an inflation rate of 15%. Key sectoral allocations include: Defence and Security: N4.91tn Infrastructure: N4.06tn Health: N2.48tn Education: N3.52tn Stay tuned for more updates in the coming days! #Budget2025 #GetInvolved

Here’s how your state ranked in the Q3 2024 States Fiscal Transparency League: Progressive Performers: States like Ekiti, Ebonyi, Edo, Adamawa, Bauchi, Jigawa, and 20 others showed significant progress. Average Performers: Nine states delivered moderate results. Poor Performer: Only one state fell short. Where does your state stand? 👉 Download the full report here: https://lnkd.in/dXEBj_KM #SFTLRanking

I am thrilled to Share My Experience at the 2024 Mozilla Festival in Lusaka, Zambia!  - #MozFest Last month, I had the honour of attending the 2024 Mozilla Festival. I joined a breakout panel discussion hosted by the African Internet Rights Alliance and led by Adeboro Odunlami, the Trust and safety champion, on “A Collective Action: Achieving Trustworthy AI in Africa.”  My contributions to the discussion focused on three critical areas: "tech and inclusion," "tech for justice," and "tech for governance."  During my presentation, I showcased BudgIT Nigeria's soon-to-be-launched AI chatbot, which gave attendees a first-hand look at this groundbreaking product. The bot, displayed on my device, was a highlight of the session. I demonstrated how it simplifies complex public financial management (PFM) data, making it more accessible for communities, researchers, and stakeholders. This tool empowers citizens to engage meaningfully with government spending and public financial data by fostering transparency and accountability.  I also delved into Nigeria’s progress in transparency and accountability, highlighting wins and challenges. Key points included:   - The Freedom of Information Act's flaws still need significant reform.   - The Open Treasury Portal successes, a major step toward financial transparency.   - BudgIT Nigeria GovSpend Portal takes transparency further by providing interactive, disaggregated data that impressed attendees from Namibia, Kenya, Zimbabwe, Botswana, and beyond.  I concluded with insights from the recently concluded World Bank’s SFTAS (States Fiscal Transparency, Accountability, and Sustainability)  project. While it has made sub-national PFM data more accessible, I emphasised the need for inclusive governance and citizen engagement to sustain its progress.  Representing BudgIT Nigeria on this platform was an incredible privilege. Sharing our vision and innovations with a diverse audience reinforced my belief that  “an innovative and AI-driven Africa is within reach”.  Special thanks to my Country Director, Gabriel Okeowo -Bsc., MPDI, Msc.⁩, for trusting me with this opportunity.  Let’s continue to champion technology for a better and more accountable Africa! 🌍💻✨ 

🗣️ Breaking: Ekiti leads Q3 2024 States Fiscal Transparency League Table! For Q3 2024 #SFTLRanking, Ekiti State takes lead, followed by Ebonyi; Edo, Adamawa, Bauchi, and Jigawa tied for third; Osun holds the seventh, and Delta ranks eighth. How did your state perform? Download the full report 👉 https://lnkd.in/dXEBj_KM #sftlranking

On Thursday, my incredible team at BudgIT Nigeria in collaboration with @eienigeria successfully hosted the 6th edition of the Technology, New Media, Citizens, and Governance conference! The Pan-African civic-tech gathering themed “Technology: The Present and Future of Political Action in Africa” was a moment to reflect, strategise, and spark bold conversations about the role of technology in shaping governance in Africa. A key highlight for me was @profosibajo's profound keynote address. He reminded us of technology’s power to revolutionise political action by amplifying voices and fostering transparency while highlighting the urgent need to address challenges like the rapid spread of disinformation. Equally important was the insightful contribution of @mondligungubel_, Deputy Minister of Communications and Digital Technologies, who shared how South Africa’s history shaped the foundation of their constitution and how they are collectively working to ensure nothing drags them back, a commitment that continues to promote transparency and accountability. He also pointed out how the lack of information in the past was a key factor that fueled racism, division, and hate—a powerful reminder of the importance of open, accessible communication. I am deeply grateful to Yemi Adamolekun, ED @eienigeria, our distinguished panellists, civil society leaders, state actors, the media, partners and participants—both in person and online—who caught the vision and ran with it. To another impactful edition of pushing boundaries and raising the bar for African governance! #TNCG2024 #GabsynWrites

#TNCG2024: The opening plenary on “The Intersection of Technology, New Media, & Political Action in Africa - Demand & Supply Perspectives” will bring together thought leaders like mohamed farahat, UN Secretary-General’s Panel on Artificial Intelligence, Mondli Gungubele, Deputy Minister of Communications & Digital Transformation, South Africa, Dr. ‘Bosun Tijani Minister of Communications and Digital Economy, Hannah Kates, Head of Open Data at Stears, Mutemi wa Kiama, Co-Chair, Africans Rising, and Dr. Morayo Afolabi-Brown, Managing Director, TVCconnect. Join the conversation as they explore how tech innovations and media dynamics are reshaping governance, political participation, and citizen engagement in Africa. #tncg2024 #GetInvolved

🗣️ It’s happening today! Join us at the sixth Technology, New Media, Citizens, and Governance Conference featuring a keynote address from Nigeria’s former Vice President, Prof. Yemi Osinbajo Theme: Technology: The Present and Future of Political Action in Africa 📍The Zone, Gbagada, Lagos! #TNCG2024

A Quick Look at the 2025 - 2027 MTEF! Are these projections realistic? FG projects a revenue of N34.82tn in 2025. Oil prices are expected to be $75.5/pb in 2025 and average at $75.75 in 2026 and 2027. Oil production is expected to increase from 1.31 mpbd in 2024 to 2.35 mbpd by 2027. The exchange rate is expected to stabilise at $1400/$ from 2025 to 2027, and GDP will hit an average of 4.60% in 2025 to 5.5% in 2027. Oil revenue is projected to rise from the actual N2.38tn in 2023 to N19.6tn in 2025 and to N22.29tn by 2027. Solid minerals will grow from an actual N6.27bn in 2023 to a projected N15.48bn in 2025 and N20bn by 2027. GOE is expected to contribute N4.07tn in 2025, and TETFUND will add N14tn to the revenue pool over the next three years. FG budget expenditures are expected to increase constantly to a record high of N52.39tn in 2027, up from its 2025 projection of N47.90tn. 2025 Projections ⬇️ Statutory Transfers - N4.26tn Personnel Cost - N8.19tn Overheads - N2.12tn, Pensions and Gratuity - N1.4tn Service Wide Votes - N2.14tn Debt service is expected to grow steadily in the next 3 years, from a projected 15.38tn in 2025 to N19.5tn in 2027. Capital expenditure is expected to stand at N10.1tn, a mere 21.1% of the 2025 budget expenditure and less than the debt service projection of 15.38tn. The deficit is estimated to hit N13.08tn, with the GDP-to-deficit ratio dropping to -3.87% in 2025 from the present -3.88% as of August 2024. The deficit is expected to be funded from new borrowings, both domestic and foreign, at N9.22tn and N7.37tn in 2025, respectively. Other funding sources include multilateral and bilateral project-tied loans and privatisation proceeds, N3.55tn and N312.33bn, respectively, in 2025. #MTEF #AskQuestions

Fighting for Communities Left Behind The Active Citizens Festival featured the debut of a groundbreaking film that goes beyond storytelling! “A Decade of Connecting People with the Government” highlights the struggles of children in Odo-Ona, Oyo State, facing dimmed futures due to poor infrastructure, and the residents of Sarki Jikidda, Katsina State, torn between fighting banditry and surviving without health facilities. This is the story of how Tracka brought hope and change to these communities. Now streaming: https://lnkd.in/dAwNKst2 #ActiveCitizens #TrackaAt10

Hello Nigerians, Did you know Lagos State, under the administration of President Bola Ahmed Tinubu, was reportedly the first state to start the ex-governor’s pension law? According to the law, these are some perks the former governors are entitled to: 📌 100% of the annual basic salaries of the incumbent governor 📌 One residential house in Lagos and Abuja 📌 Three cars every three years 📌 300% of annual basic salary for furniture allowance every two years 📌 10% of annual basic salary for house maintenance. 📌 10% of annual basic salary for car maintenance 📌 20% of annual basic salary for entertainment. 📌 Free medical treatment for ex-governors and members of their families Can states really afford this? 🤔 Get all the deets from our latest bant - https://lnkd.in/dQRfcFhC #CivicBants