Editorial
Making 2022 Budget Work
In recent times, the Federal Government’s unrestrained penchant for domestic and foreign loans has been variously criticised as unhealthy for Nigeria’s economy. Many economic experts have particularly expressed worries over Nigeria’s rising debt profile especially debt service-to-revenue ratio as well as foreign exchange liquidity constraints. These worries were recently exacerbated by the resolve of the Federal Government to borrow N5.01 trillion to finance the 2022 proposed budget.
While presenting the 2022 Appropriation Bill of N16.39 trillion to the joint session of the National Assembly, penultimate Thursday, President Muhammadu Buhari had said that the 2022 budget would be financed by borrowing to the tune of N5.01 trillion. The 2022 budget proposal contains capital expenditure of N4.89 trillion, a non-debt recurrent expenditure of N6.83 trillion, personnel cost of N4.11 trillion and debt service of N3.61 trillion.
The total federally distributable revenue is estimated at N12.72 trillion in 2022 while total revenue available to fund the 2022 budget is estimated at N10.13 trillion. This includes Grants and Aid of N63.38 billion, as well as the revenues of 63 Government-Owned Enterprises (GOEs). This shows that the 2022 budget has a deficit of about N6.25 trillion, approximately 3.39 per cent of GDP. This is slightly above the 3 per cent ceiling set by the Fiscal Responsibility Act 2007 (FRA). A budget deficit occurs when expenditure exceeds revenue.
While we agree with the President that the huge expenditure budget may be compelled by the need to overcome current security challenges and accelerate post-recession growth, we are concerned that the Federal Government’s resort to borrowing to finance the 2022 fiscal gaps is not good enough for the nation’s economy that is already suffocating under the huge burden of foreign loans.
We say this because Nigeria’s budget deficit has risen to N20.64 trillion. Data from the budget office, covering 2016 to 2020 show that more than N7.97 trillion was borrowed from foreign and domestic sources to fund the budget deficits. This, to us, is not healthy for our economy.
Although the President and some economic experts are quick to say that the debt level of the Federal Government is still within sustainable limits, and that the borrowings are tied to some specific critical development projects and programmes, we are worried that the continuous running of the nation’s economy on budget deficit is capable of mortgaging the future of the country.
It is, therefore, imperative that the Federal Government devises various means of improving the revenue profile of the country. While some of the revenue generating initiatives contained in the 2022 budget are commendable, a key focus area may be to explore avenues to diversify export revenue sources away from crude oil, which currently accounts for more than 80 per cent of total foreign exchange receipt.
Concerted and coordinated efforts are also required to improve the policy environment and address insecurity to boost domestic investment and attract foreign direct investments. The government also needs to ensure speedy ratification and strategic implementation of the Africa Continental Free Trade Agreement (AfCFTA) to position Nigeria as a choice investment destination in Africa.
Meanwhile, it is expected that a robust implementation of the Petroleum Industry Act (PIA) would promote investment in the oil and gas sector, stimulate economic growth and sustainability. Also important is the need to widen the nation’s tax net to accommodate more taxable Nigerians. Here, we recommend the resuscitation of toll gates on federal highways to shore up the revenue profile of the government.
It is also incumbent upon the three tiers of government to be guided by the recent revelations by the Chairman, Federal Inland Revenue Service, Muhammad Nami, that despite having 41 million taxpayers in the country, compared to South Africa’s four million taxpayers, Nigeria earned far lower than what South Africa generated from Personal Income Tax.
The FIRS boss said, “Our total taxpayers today are in the region of about 41 million people and the total Personal Income Tax paid last year was less than N1trillion by 40 million people. If you also compare that with South Africa where they have a total population of about 60 million people, with just four million taxpayers, the total Personal Income Tax paid in South Africa last year is about N13trillion. You can now see that these things are not adding up.
“The number of billionaires in Lagos alone are more than the number of billionaires in the whole of South Africa but yet, what we generated as Personal Income Tax by Lagos State Government is just less than N400billion”. Nami’s revelation might just be another eye opener for the government at all levels that Nigeria has enough wealth to finance its budget and sustain its economy without borrowing.
With the nation’s over-reliance on crude oil income to fund the budget, the government may be stretching itself too far in producing enough revenues to fund essential projects. And with the growing borrowing, the future of the country is dreary. We need more investments in the non-oil sectors of the economy.
For the economy to progress and achieve greater significant growth, a reasonable level of budget execution is necessary. But if the government continues to violate existing debt laws, the 2022 budget may go through the disastrous fate of previous budgets. Also, there is a need for migration of businesses from the informal to the formal sector of the economy for easy inclusion in the tax net.
Beyond this, the government must fight against insecurity throughout the country, which hinders local and foreign investment and stabilise the exchange rate policy regime. Let it reduce unemployment and inflation rates. It should spend less on consumption and more on productive sectors of the economy.
Particularly troubling is the reported targeting of National Youth Service Corps (NYSC) members, who play a vital role in Nigeria’s electoral process. Many serve far from home and undertake sensitive assignments at polling units and other electoral locations. As civilians, they should not be exposed to intimidation, abduction or violence without adequate protection. If election workers are vulnerable, the safety of other officials, observers and voters cannot be guaranteed.
Nigeria’s electoral history offers painful lessons. Human Rights Watch reported in Nigeria’s Post-Election Violence, published in May 2011, that more than 800 people died in the violence following the 2011 general elections. NYSC members serving as electoral officials were among the victims. This tragedy underscores the deadly consequences of political tension, incitement and disputed outcomes. Nigeria must act on the latest warning before another preventable disaster occurs.
INEC deserves recognition for uncovering the alleged plot, while the DSS and other security agencies merit commendation for their reported assistance. However, arrests are only the beginning. Investigators must establish the suspects’ identities, motives, networks and intended targets, ensuring that evidence is admissible in court. The process must remain impartial and free from political interference. Credible public updates are also necessary, provided they do not compromise investigations or operational security.
The authorities must adopt a comprehensive, intelligence-led security strategy for 2027. INEC’s proposed security conference should produce practical measures developed in collaboration with the Inter-Agency Consultative Committee on Election Security (ICCES), the police, the DSS and other relevant agencies. Threat assessments should guide personnel deployment, secure transportation, emergency communications, evacuation procedures and rapid response. Protection must extend beyond polling day to the distribution of sensitive materials, collation centres and the safe return of ad hoc personnel.
Those who provide intelligence must also be protected from retaliation. Confidential reporting channels and appropriate safeguards should be established for informants and others assisting investigations. Equally, security deployments must not intimidate voters or facilitate political repression. Personnel should act professionally, impartially and proportionately, within the law. Clear mechanisms for reporting misconduct and investigating abuses are essential to maintaining public confidence.
The threat also highlights broader concerns about trust in the electoral system. The European Union Election Observation Mission’s June 2023 final report identified shortcomings in transparency and operational implementation during Nigeria’s 2023 general elections, alongside concerns about the legal framework and electoral dispute resolution. Credible elections require more than security; they depend on transparent procedures, accountable officials and consistent enforcement of electoral laws. INEC must demonstrate measurable progress in addressing previously identified weaknesses.
Voter apathy presents another challenge. INEC’s published figures indicate that approximately 25 million people voted in the 2023 presidential election, out of about 93.5 million registered voters, a turnout of roughly 26.7 per cent. Although insecurity is not the sole cause of low participation, threats against electoral personnel can heighten public anxiety and discourage voters from exercising their franchise. INEC should strengthen civic education, improve polling accessibility and communicate procedures clearly. Political parties, civil society and the media must promote peaceful participation and reject electoral intimidation.
Misinformation and manipulated digital content pose additional risks. False reports, fabricated announcements and deepfake videos can inflame tensions, impersonate officials and mislead voters. INEC should establish a well-resourced, rapid-response communication system supported by verified digital channels and timely public statements. Collaboration with credible media organisations and fact-checkers would help counter falsehoods without suppressing legitimate criticism. Clear, consistent communication is indispensable, as administrative confusion and delayed explanations often allow rumours to spread.
Electoral integrity must also begin within INEC itself. The chairman’s warning against partisanship, negligence, extortion and ethical misconduct deserves serious attention. Security measures cannot compensate for officials who abuse their positions or disregard established procedures. INEC should strengthen staff training, ensure transparent recruitment and deployment, provide secure channels for reporting misconduct and enforce disciplinary rules consistently. Allegations of bribery and political interference must be investigated regardless of rank, while ad hoc personnel should receive adequate briefing, support and prompt payment.
The legal framework also requires clarity and consistent enforcement. INEC should explain the precise provisions and applicability of Section 26 of the Electoral Act 2026, including the obligations of electoral officials and security personnel, and publish authoritative guidance on neutrality and professional conduct. Complaints by opposition parties that they have been prevented from campaigning in certain states must likewise be investigated impartially. Any established violations should attract appropriate corrective action. Electoral fairness requires not only impartial polling officials but also lawful campaigning, access to competing viewpoints and freedom from intimidation.
The alleged plot against INEC’s ad hoc personnel is a warning against complacency ahead of the 2027 general election. Governments, security agencies, INEC, political parties and civil society must work together to prevent violence, punish misconduct and protect citizens’ participation. The commission should communicate its security priorities, maintain accessible threat-reporting channels and provide periodic updates on preparedness. Nigeria’s democracy cannot be safeguarded by assurances alone; it requires demonstrable preparation, impartial law enforcement and an unwavering commitment to free, fair and credible elections.
Nigeria joined the world in commemorating the International Day of the Girl-Child on 11 March 2026, an observance dedicated to advancing girls’ rights and amplifying their voices. This year’s theme, “End Child Marriage and Invest in Girls’ Rights,” confronts a deep-rooted injustice and demands an end to sacrificing girls’ futures to prejudice and expediency.
The focus is child marriage, not as an unavoidable misfortune but as a preventable injustice. Though prevalent in many societies, the practice remains particularly troubling in parts of northern Nigeria, where it has become normalised. Reports of girls aged 10 to 13 being married off are disturbing. The controversy surrounding a Nigerian senator and former governor who married a 13-year-old girl further exposed the practice to global scrutiny, yet accountability at home appeared limited. When lawmakers disregard the law, society’s moral compass is compromised.
UNICEF’s statistics reveal the scale of the crisis. Globally, an estimated 650 million women and girls alive today were married before turning 18, while more than 12 million girls enter marriage annually before adulthood. In Nigeria, about 33 per cent of girls marry before 18 and 11 per cent before 15. The prevalence reportedly reaches 63 per cent in Jigawa and Zamfara States and 61 per cent in Sokoto and Katsina. These figures represent millions of childhoods interrupted and futures imperilled.
These statistics explain why the United Nations continues to campaign against child marriage and advocate investment in girls. The consequences are devastating. Girls whose bodies are not fully developed face increased risks of maternal death, obstetric fistula, sexually transmitted infections and psychological trauma. The economic cost is equally significant. A 2017 World Bank and International Centre for Research on Women Study estimated that ending child marriage could generate an additional $7.6 billion in earnings and productivity for Nigeria, as early marriage deprives girls of education, skills, and opportunities to contribute to national development.
Educating a woman benefits the entire society. As a mother, she often becomes her children’s first teacher and a vital influence on their character. An educated mother helps raise enlightened children, just as one candle can light many others without losing its flame. Denying women education undermines families and communities. To expect wisdom while deliberately withholding knowledge is to demand the impossible.
Several reasons are offered for marrying off young girls, including economic hardship, cultural practices and religious beliefs. In some households, daughters are treated as commodities, married early so that their bride price can finance their brothers’ education. While boys enter classrooms, their sisters are sent to matrimonial homes. This discriminatory practice is shortsighted, depriving the nation of half its human potential. A country cannot expect to run effectively after deliberately crippling one side of its capacity.
Beyond these justifications lies the entrenched belief that women ultimately belong in the kitchen, regardless of their education. This outdated notion is demonstrably false. Countries where women lead governments, businesses, research institutions and other sectors show what investment in female talent can achieve. Rwanda’s substantial female parliamentary representation is one example. Confining women to domestic roles limits not only their ambitions but also the nation’s progress.
A girl-child must not surrender her childhood to poverty or prejudice. Some traditions discourage women from attaining educational heights comparable to or greater than those of men, driven by the baseless fear that educated women will disrespect their husbands. Such thinking equates enlightenment with insubordination and empowerment with threat. This patriarchal mindset perpetuates inequality and keeps society trapped in backwardness.
Consequently, some parents consider educating their daughters a waste of resources, likening it to watering another man’s garden. This attitude is deeply misguided. Every girl deserves the opportunity to learn, grow and pursue her dreams. Early marriage mortgages her future, stifles her potential and traps her in circumstances she might otherwise overcome. No society can justify sacrificing a child’s prospects to outdated customs or immediate financial gain.
Ending child marriage must, therefore, go hand in hand with investing in girls’ education, safety and rights. Every girl should have the opportunity to realise her potential. This requires more than annual declarations, billboards, posters and seminars held in air-conditioned halls. Awareness without action is like a cloud without rain: promising, yet incapable of nourishing the ground.
The campaign must move beyond tokenism to practical intervention, particularly at the state level, where the problem is acute. Governments should formulate policies that protect girls and make education accessible. Scholarships, bursaries, conditional cash transfers, school feeding programmes and other incentives can help keep girls in school. When education is affordable and adequately supported, more girls can choose the classroom over the bridal chamber.
Civil society organisations, faith-based groups, and traditional institutions must intensify efforts to challenge child marriage and dismantle harmful beliefs disguised as religious or cultural obligations. Parents must also uphold their responsibility to protect and educate their daughters, despite economic pressures. A society that educates its girls invests in its future; one that marries them off in childhood mortgages that future at an incalculable cost.
-
Opinion3 days ago
Ancestorial Worship: My Take (1)
-
News12 hours agoFresh Ebola Scare As NCDC Records Two Cases
-
Niger Delta11 hours ago
PANDEF Seeks 50% Oil Derivation Allocation Increase
-
Rivers10 hours ago
Don Seeks Repositioning Of Tech Education For Dev
-
Education11 hours agoPAMO MEDICAL UNIVERSITY -Nullifies Arrest warrant on VC
-
News12 hours ago
Customs Partners EFCC, NDLEA, Others To Tackle Money Laundering, Terrorism Financing
-
Education11 hours agoIAUE MOVES TO END GHOST WORKERS SYNDROME AS 400 NEW NON-TEACHING STAFF UNDERGO MANDATORY ETHICS TRAINING
-
News3 days agoFG Must Address Nigerians’ Concerns On Reforms -Shettima …Warns Against Misuse of AI, Social Media