Obiagelli:

And the guy sabi throw insults.

I hope MizMyColi is reading

NewsHub:

That's the problem i have with Barcanista since he became a TANoid. He thinks he knows too much when the reality is that he doesn't.

Telling Obiageli that he wants to bring things to his level is just a show of arrogance. I don't like people that feel they know too much when they know just little.

jpphilips:

Because you didn't say this nonsense when the nation's wealth was invested in oil.

Obiagelli:

Words of wisdom sir, thanks.

Flets:
OP like many Nigerians are shallow economists. So many holes can be easily picked from the quack calculations

1a. Where is the 13% derivation to the oil producing states? Or you assumed the FG takes the full 60% of crude sales revenue? .....
and even after 13% deduction, only 54% of the residual 47% (excluding 13% for producing states and 40% for the IOCs) of total crude sales revenue goes to the FG.

1b. FG budget is for FG expenditure alone. FG does not budget for states...... so where are the state allocations funded from since they are not captured in the FG budget?.... for your education, 46% of the residual revenue is meant for states and LGs.

2. Where do you think the capital cost of oil and gas projects come from for which the FG pays its 60% share? Or you think the oil flows on its own without spending money?

3. 2.65trillion of the 4.69trillion IGR you quoted on FIRS is already petroleum profit. Go back check the details and confirm you have double dipped same funds on both sources.

4. Your assumption that FG takes all the IGR generated by FIRS is wrong. Discount the amount accruable to the states first in your calculations.

5. What funds the external reserves or all revenues must be spent on recurrent expenditure?

Our revenue economics is not as simple as you lot think. Now that political campaigns are over, its time to educate Nigerians that our revenues are not limitless and some campaign points are not achievable albeit sustainable.

Assuming, Buhari miracously finds some fraction of the funds required for the welfare programs, how do you identify the poorest of the poor Nigerians deserving of the 5K?, What database is available to identify the welfare recipients? We even struggle to identify bonafide Nigerians much more low income earners.

Every effort to defend economic impossibilties reveals the shallowness of the incoming government.

groovie:
This argument shouldn't even happen. A welfare package for unemployed should be totally repelled by Nigerians. Is buhari going to be everywhere to make sure its goes round? This is just going to feed the corruption he is trying to fight. And it cannot have any massive effect on agriculture. People eating more cannot translate to an agricultural boom.

Obiagelli:

He reminds me of ayedee on twitter, they are very good at copy and paste.

CHESSBOARD:


Just shut up already, I just came to this party, I tot you were intelligent and knowledgeable until now ...you and your APC think things work the way you see it in papper, written by OBJ and SLS

Obiagelli:
Officially, Nigeria exports 2 million barrels of crude oil
daily. At the current price of 60 US dollars per barrel, that
translates into 120 million US dollars.

120 million x 365day = 43,800,000,000

43 billion dollars @ 60% ( rumoured sharing formula between Nigeria and oil companies)

That means Nigeria makes 25.8 billion dollars annually.

$25.8 billion x 200 naira = 5.1 trillion naira.


Nigeria's 2014 budget was N4.6 trillion meaning we still have about 0.5 trillion naira change.
www.channelstv.com/2014/04/09/nigerian-senate-passes-4-6-trillion-naira-2014-budget/


FEDERAL INLAND REVENUE

Nigeria generated N4.69tn Revenue in 2014

www.thisdaylive.com/articles/firs-generates-n4-69tn-revenue-in-2014/200484/

Adding N4.69 trillion (firs) + 5.1 trillion (crude oil) = 9.79 trillion.

If our budget was N4.6 trillion then we have a balance of 5.1 trillion naira that nobody accounts for.

Barcanista asked where we will find 1.8 trillion to take care of our most vulnerable citizens, this balance of 5.1 trillion will be taken away from the pockets of criminals and militants.




EDIT.


I forgot the FG gets 52% of total income, even at that we have a balance of 0.6 trillion naira which is sufficient for the first stage of the social programs.
The APC government has said one of its major income earners is the mining industry.

This plans with financial discipline is very much achievable.

Please note that my analysis is based our major source of income ( oil and taxes), i have not touched other income earnings.

Obiagelli:
Other links,

www.thisdaylive.com/articles/nigeria-produces-2-5mbpd-of-crude-oil/154098/

If my maths failed me anywhere, please correct me, i don dey old o.

jpphilips:


The onus is on Barcanista to disprove your 40% it is a fair estimate but I think we do 55-45 with SPDC, 60-40 with Shell SNEPCO, Will check ENI and Total when I get to work, Your 40% is a close average.

francisdfreak:
did anyone notice how comments from PDP supporters reduced this morning? that's because most pdp guys have lives and businesses outside nairaland to take care of unlike apc paid touts who spend the whole day on nairaland working for their pay.

sarahatuba:

how can that principle be applied in the case of CHILDREN being fed.....nawa oo

PassingShot:
Obiagelli, kudos to you for the effort.

Barcanista and his goons are enemies of progress and their hope that GMB's regime will fail will not happen.

GMB and his team will deliver us from 16 years of lootocracy and backward leadership of PDP.

The worst that can happen is for GMB/PYO not to achieve 100% of their campaign promises but it is not to fail woefully as the outgoing administration.

Once GMB is able to deliver up to 70% of his campaign promises in the first four years, trust Nigerians to reward him with another term.

The funny retrogressives do not even mind that GEJ did not achieve 30% of his own electoral promises and they're already out with the knives for GMB. They are sore losers!

persius555:
FIGHT CORRUPTION HEAD ON, NO APOLOGIES. MAKE A SHOW OF THOSE FOUND TO BE INVOLVED IN CORRUPT PRACTICES. HIGH OR LOW, BRING THEM DOWN. SOLVE THE INHERENT POWER ENERGY SECTOR PROBLEM. TO ME, THAT IS 70% OF THE JOB DONE.

dearpreye:


My humble comrade, I think you're wrong to believe barcanista and all those who oppose the APC are enemies of Nigeria. That's wrong sir.

It's my utmost belief that NO ONE will be happy to see Nigeria fail; it doesn't make any sense. It's all we have, and it's our SINCERE desires that this nation takes its rightful place in the comity of nations. That's the end of all our politics, both here and offline. We're all patriots, doing our bits to see things improve, so we can move beyond the current spectrum of things.

We're NOT ENEMIES of Nigeria; we are ONLY hawking around to see NO ONE promises us what sound judgment tells us it's not feasible, given the time frame and the economic realities on ground.

We shall be happy to be proved wrong! We talk for development; we talk for progress.

Good morning Bro!

francisdfreak:
did anyone notice how comments from PDP supporters reduced this morning? that's because most pdp guys have lives and businesses outside nairaland to take care of unlike apc paid touts who spend the whole day on nairaland working for their pay.

jpphilips:


stop being s! lly how can you have Royalty without OPS cost?

PassingShot:


If you're not one of those who wish him fail, talk for yourself.

APC's manifesto was dissected by Prof Soludo to which APC replied appropriately.

Given the fact that there are enormous challenges in achieving their programs should not translate to mean they're not achievable.

If all of you PDP apologists here scrutinized GEJ/PDP on their achievements viz a viz their promises even after four years, perhaps we would have gotten better outcome from them. Unfortunately you looked the other side and they looted like there was no tomorrow.

Having behaved that way, what moral justification do you have to attack a regime that has not even taken a step in administering our affairs?

Like I said, GMB will be judged on his campaign core promises of security, corruption and improving the economy. Though the social programs are part of those promises but do not even have to be immediate.

Constructive criticism is welcomed by us the progressives but not the nonsense some of you are into.

Ngasky:
Good and simple analysis.
Remember the PTF Program the economic prophets of doom both local and international wrote it off as a failed embarked policy at inception. But Nigerians knows better after the program was rounded up. Even the international doom sayers had to admit to the success of the program even without any foreign lending. And who is in charge?
With the op analysis it is possible to achieve the goals.
Even the outgoing govt has the resources to do this but the biggest undoing factor of JEG's failure is STEALING (sorry thats not corruption and cant sack becouse of stealing according to ...)
I believe with all achieved 65-75% of Nigerias income/budget was stolen, thats only 25-35% was utilised. Imaging utilising 90-95% what will be the situation on ground?
If GMB Can fight stealing/corruption Nigeria will be the best destination in Africa in 2 years time.

dearpreye:


My humble comrade, I think you're wrong to believe barcanista and all those who oppose the APC are enemies of Nigeria. That's wrong sir.

It's my utmost belief that NO ONE will be happy to see Nigeria fail; it doesn't make any sense. It's all we have, and it's our SINCERE desires that this nation takes its rightful place in the comity of nations. That's the end of all our politics, both here and offline. We're all patriots, doing our bits to see things improve, so we can move beyond the current spectrum of things.

We're NOT ENEMIES of Nigeria; we are ONLY hawking around to see NO ONE promises us what sound judgment tells us it's not feasible, given the time frame and the economic realities on ground.

We shall be happy to be proved wrong! We talk for development; we talk for progress.

Good morning Bro!

Coldfeet:
Good question. For years I've wondered what happens to the other natural resources we have in this country! The gold and other precious stones up north who mines them and are the revenues generated from them ever made available to the rest of the nation ? Or is it a case of my own is mine and yours is ours mentality of the born to rule?

Reference:


This is what I am saying. How do you expect him to criticise the party he supports. That was your job. His job now is to criticise your party, your government because you won't naturally do so.