Is This Transformation? - Politics - Nairaland
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| Is This Transformation? by chemali: 4:59pm On Dec 18, 2014 |
Lagos, one of the 36 states in the federation and shares 26% of the nation's revenue wi 35 other states prepared a capital expenditure of 249bn naira in its 2015 budget. The federal government takes 52% of the nation's revenue and shares it with no one prepared on the other hand a budget with a capital expenditure of 627billion naira. This is just 2.5 times the capex of lagos state. Isn't this shameful? The government is proposing 2.6 trillion as recurrent expenditure. How is this supposed to transform? A whole FG proposing 2.5x Lagos state budget as its own capital expenditure? 1 Like |
| Re: Is This Transformation? by chemali: 5:01pm On Dec 18, 2014 |
To show the disdain the leadership has for development, it slashed capital expenditure to N627 billion, from N1.2 trillion,initially estimated, almost 50 per cent reduction, meaning less and less money will be available to rebuild roads and provide infrastructure. http://thenewsnigeria.com.ng/2014/12/16/profligate-nigeria-continues-spending-spree-cuts-capital-vote/ |
| Re: Is This Transformation? by chemali: 5:02pm On Dec 18, 2014 |
This same government wants to increase VAT so they can continue their consumption. |
| Re: Is This Transformation? by jpphilips(m): 6:10pm On Dec 18, 2014 |
No new infrastructure for 2015 while recurrent expenditures remain intact, damn! Nigerians really deserve this dumb leadership, @OP how did you arrive at 26% when the whole states in the federation share about 41%? |
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