Ninani:
After having been a guest to this forum for quite a while, I finally registered a few minutes ago. Unfortunately, I can't find the "new topic" button either, not even after reading this topic. There is no further button next to "mark as read",

Has it got something to do with me just being new to this board? What needs to be done before I can start my own topic?

Thanks for helping me out,

ajadematanle:
2015 National Budget-Budget of uncertainty

Having followed President Goodluck Jonathan campaign promises.I have never found in any of his speeches where he has mentioned how is going to solve our economic problems.I decided to go to ministry of finance website to see the Budget 2015 proposal breakdown.I found out that if GEJ is re-elected Nigerians are in trouble.Below are the detail benchmarks

Benchmark oil price
initial $78 revised $65
Budgeted Oil production 2.2782
Average exchange rate N165/$
Total FGN Retained revenue N3.6 trillion
Total Government Expenditure N4.35 trillion(Debt service N0.9 Trillion,Recurrent N2.6 Trillion Capital N0.6 Trillion)
Deficit N0.755 Trillion

These details are enough for him to lose the 2015 Presidential Election in a sane society.
1.For the past few years, oil benchmark was over $100 and we have never had a surplus budget.Now the world oil price is hovering around $45 instead they put $65 as benchmark living in fools paradise.
2.In the whole world , i have never seen a country where the capital expenditure is less than what it take to service a debt procured for a recurrent expenditure.
3.Nigeria has never met OPEC quota of 2.27 Million barrel per day production due to the theft and pipe leakages and yet they continue to use the figure for projection in the budget.Saudi Arabia OPEC quota is 8.8million barrel per day and the cost of production per barrel is $3 while Nigeria produce at $37 per barrel.This is why the price of oil will not go up because if Saudi sell at $10 per barrel they will make profit of $7 per barrel but Nigeria will make a loss of $27.
The current oil price drop is political.It was target to ruin Russian economy.US is no more buying Nigeria oil because of new discovered shale gas oil.Thecost of production is $47 per barrel.US can afford to subsidized its production for internal use.

So ladies and gentlemen, we are in trouble if this clueless Govt with their economy team comes back. All they have been doing is voodoo and eyije-eyioje economics.

Vote wisely.

check Ministry of finance website before it's expunged.
http://www.budgetoffice.gov.ng/pdfs/D-G%20Budget-2015%20Budget%20Presentation.pdf