Understanding Budget 2012

Proshare

Tuesday April 24, 2012

The goal of the 2012 Budget is to help achieve Government's Vision to make Nigeria one of the top twenty economies in the world by year 2020.

In the process of achieving this goal, the Budget was put together to reduce the consequences of unpredictable changes in the international price of oil which is our main source of revenue, as well as increase our chances of continued economic growth.

Among many other considerations, the 2012 Budget is also built on the Government's efforts to improve on how government's business is being done.

This is by ensuring that Nigerians are continually informed of its activities and that the country gets value for every Naira that Government spends. It is also planned to make Nigeria more business-friendly by reducing the cost of doing business, and attract private sector investments.

To achieve its overriding goal of creating jobs for Nigerians, the 2012 Budget provided much funding in the priority sectors including power, transportation (i.e., roads and rail), water, agriculture, and security.

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Source: Budget Office

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