My people, make we gather here gather correct gist wey we go blow una mind! Bismarck Rewane, the oga at the top for Financial Derivatives Company, don carry sharp knife come cut Nigeria budget matter for Lagos this weekend.
Oga Rewane don dey shout say make Federal Government align our money matter with wetin dey happen for ground. He talk am for RCCG LP 35 Economic Summit say if we no do am well, our fiscal credibility go waka comot. Just imagine the budget wahala wey dey, with the National Assembly don joggle 2024 and 2025 Appropriation Acts, and Bola Tinubu don drop N58.18 trillion 2026 Appropriation Bill wey dey shine like new shoe for parlour.
For this proposed budget, dem dey talk say total expenditure go land for N58.18 trillion, but we dey expect revenue wey go only reach N34.33 trillion. Capital wey we wan use na N26.08 trillion, recurrent non-debt wey go take N15.25 trillion, and no forget say we get debt servicing wey go swallow N15.52 trillion, meaning sey we dey owe plenty. En dey carry serious budget deficit of N23.85 trillion waka come!
To bring matter as e be, dem don put crude oil benchmark for $64.85 naira per barrel, with dem dey expect to produce 1.84 million barrels daily. And trust Naija, our exchange rate don jump wey fit reach N1,400 to the US dollar. Naija dey corner budgets wey dey overlap, and our president don promise say by March 31, 2026, all dis capital wahala from di past go don end.
Bismarck dey raise serious alarm about how our budget no fit dey dey jibe with wetin dey happen for ground. Him dey talk say make we no dey overhype ourselves with the budget assumptions! Wetin he talk be say:
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