budgit

Posts by budgit:

ANALYSIS: Govt budgets billions to fund president’s, lawmakers’ lavish lifestyles; health, roads get pittance

By BudgIT It is that time of the year when political rhetoric is at its highest and politicians are selling themselves as the messiahs who will save Nigeria’s troubled economy. The economy is in real trouble, the naira has been devalued and stocks are tanking. Promises of better prudence in…

BudgIT Analysis: 2015 budget shows govt. not committed to austerity measures as oil price falls

Forecasting is an occupation that confers respectability on the field of astrology. But, even everyday people have the right to predict the scale of the dark storm hovering over Nigeria’s economy as the oil price continues its free summersaults. Such is the dire situation of a country whose finances depend…

ANALYSIS: Nigeria risks borrowing to pay salaries in 2015, BudgIT explains

The dire consequences of crude oil prices free-fall are looming large on Nigeria, as Brent crude continues its slide from a peak of $112.42 per barrel June 1, to its current level below $68.13 per barrel on Tuesday. Some analysts say oil prices have come under intense pressure from oversupply…

Infographic: Marginal fields and its poor performance

Marginal fields are oil and gas reserves usually too small for production to be economically viable for large oil companies. They are usually awarded to indigenous companies to explore considering the size of the reserves. There is widespread agreement that past awards of marginal oil fields in Nigeria have not…