Nigeria’s Budget for 2012: Inclusive Growth and Job Creation

This brief examines Budget 2012 and highlights key structural and institutional challenges that have been militating against the achievement of inclusive growth and employment generation as listed in the budget.


Publication Date: December, 2011

Volume Number: 1 Issue 3

Document Size: 5 pages


On December 13, 2011, the president presented the FY2012 budget to the joint session of the national assembly. The budget entitled “Budget of Fiscal Consolidation, Inclusive Growth and Job Creation” is anchored on 4 main pillars namely: macroeconomic stability, structural reforms, governance and institutions, and investment in priority sectors in line with the overall transformation agenda of the administration. The budget clearly identified and addressed key structural and institutional challenges that have been militating against the achievement of inclusive growth and employment generation. The revenue forecast is N3.644trn while planned expenditure is N4.749trn, implying a deficit of N1.105trn or 2.77% of GDP. This deficit level is lower than the 2.96% recorded in 2011 in line with the Fiscal Responsibility Act 2007, and shows government’s commitment to fiscal discipline. However, the size of the deficit may increase if the National Assembly decides to add fuel subsidy to the budget.


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