In September 2021, I wrote: “ Yes, expect the privatization of some federal universities before the end of this decade! In Abia state, the state abandoned a college of education and weeds are now schooling therein!”
That playbook will ramp up as we are reading that the government has paused most polytechnics.
“Federal polytechnics are losing accreditation of course because of serious dearth of requisite academic staff following Federal Government’s embargo on employment, The Nation has learnt….
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“While appreciating the huge personnel cost, he appealed to President Buhari to intervene and declare state of emergency in the education sector, urging the Head of Service to categorise polytechnics in the same category with health sector for the purpose of lifting the embargo on employment to save it from collapse.”
Nigeria has to fix its budget paralysis to have any chance to invest in the most important things in the nation.
President Buhari presented Nigeria’s 2022 national budget of N16.39 trillion, about US$40 billion using the official exchange rate to the joint session of the National Assembly this week (the figure was updated from N13 trillion to include funds for election, health workers, security, etc),. The crude oil benchmark price used was $57 per barrel and daily oil production is estimated at 1.88 million barrels per day. The exchange rate is pegged at N410 per US dollar! And the total projected revenue is put at N17.7 trillion.
Buhari presents N16.39 trillion Nigeria’s 2022 National budget to National Assembly
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