Transition2015· ₦4.49tn· Chapter I · Money

Appropriation Act, 2015

₦4.49 trillion. Oil prices halve mid-year; first recession since 1991 looms.

Total ₦4.49tn. Benchmarked at $65/barrel; oil collapsed to ~$30 by year-end. Transitional budget — Jonathan to Buhari (29 May 2015).

Sources

· Appropriation Act 2015

What it cost — political & economic reality

The political and economic reality

Nigeria in 2015: who was in charge, the cabinet of the day, the GDP, and the crises that defined the period.

President · Fourth Republic

Dr. Goodluck Ebele Jonathan

2010–2015· PDP

National reality

GDP rebasing April 2014 made Nigeria Africa's largest economy. Chibok abduction 14 April 2014 (276 girls). Sovereign Wealth Fund established 2012. Fuel-subsidy protests January 2012. Lost the 2015 election — first incumbent defeated.

Crises of the period

#OccupyNigeria fuel-subsidy protests (Jan 2012)
Chibok abduction (Apr 2014)
Boko Haram caliphate at peak (2014)
Oil price crash from mid-2014

GDP (World Bank)

$369 bn (2010) → $546 bn (2014, post-rebasing — largest African economy)

Cabinet (selected portfolios)

Finance
Ngozi Okonjo-Iweala (Coordinating Minister of the Economy)
Education
Ruqayyatu Ahmed Rufa'i; Ibrahim Shekarau
Petroleum
Diezani Alison-Madueke

Source: Federal Gazette 2010–15; NBS GDP rebasing report 2014

President · Fourth Republic

Muhammadu Buhari

2015–2023· APC

National reality

Two recessions (2016, 2020). Multiple naira devaluations. ASUU strike of 2022 closed federal universities for ~9 months. End SARS protests (Oct 2020); Lekki Toll Gate incident. Out-of-school children >18 million by 2022.

Crises of the period

2016 recession + FX crisis
End SARS + Lekki Toll Gate (Oct 2020)
COVID-19 lockdown (2020)
9-month ASUU strike (2022)
Naira redesign chaos (Q1 2023)

GDP (World Bank)

$494 bn (2015) → $477 bn (2022)

Cabinet (selected portfolios)

Finance
Kemi Adeosun (2015–18); Zainab Ahmed (2018–23)
Justice (AGF)
Abubakar Malami (SAN)
Education
Mallam Adamu Adamu (2015–23)
Petroleum
Muhammadu Buhari (concurrent); Min. of State Ibe Kachikwu then Timipre Sylva

Source: Federal Gazette 2015–23; CBN; NBS

Methodology

Tier 1 · primary

Courts. Gazettes. National archives.

Tier 2 · corroborating

OCCRP. HRW. BudgIT. TheCable.

Redline

Wikipedia is never a source.