- Nigeria’s budgets over the past 27 years have totaled N232.55 trillion, equivalent to $667.887 billion.
- Five presidents have overseen this expenditure: Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan, Muhammadu Buhari, and Bola Tinubu.
- Buhari spent the most, with N97.018 trillion ($228.641 billion), accounting for 41.72% of the total budget.
- Tinubu has spent N86.972 trillion ($81.977 billion), accounting for 37.40% of the total budget.
- Despite massive budgets, Nigeria has witnessed little development in areas such as education, healthcare, and housing.
- The number of out-of-school children has increased, maternal mortality rates have worsened, and the housing deficit has skyrocketed.
- More Nigerians are living in multidimensional poverty, with 28 million people living on less than $1 a day in 2023.
Nigeria’s budgets over the past 27 years have totaled a staggering N232.55 trillion, equivalent to $667.887 billion. This massive expenditure has been overseen by five presidents: Olusegun Obasanjo, Umaru Musa Yar’Adua, Goodluck Jonathan, Muhammadu Buhari, and Bola Tinubu.
Here’s a breakdown of how each president spent the nation’s budget:
- Olusegun Obasanjo: N12.332 trillion ($121.35 billion), 5.30% of the total budget
- Umaru Musa Yar’Adua: N10.949 trillion ($79.13 billion), 4.71% of the total budget
- Goodluck Jonathan: N25.296 trillion ($156.569 billion), 10.88% of the total budget
- Muhammadu Buhari: N97.018 trillion ($228.641 billion), 41.72% of the total budget
- Bola Tinubu: N86.972 trillion ($81.977 billion), 37.40% of the total budget
Despite these massive budgets, Nigeria has witnessed little development. The number of out-of-school children has increased from 7.019 million in 1999 to 18.3 million in 2024. Maternal mortality rates have also worsened, with 576 deaths per 100,000 live births in 2024, making Nigeria the country with the fourth-highest maternal mortality ratio globally.
The housing deficit has skyrocketed from 10,271 in 1999 to 28 million in 2023. More Nigerians are also living in multidimensional poverty, with 28 million people living on less than $1 a day in 2023.
These statistics raise questions about the efficiency of Nigeria’s budget expenditure and the impact of these massive budgets on the country’s development.
