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The Greatest Fraud Ever In Nigeria History by bajosky: 6:56pm On Feb 01, 2016 |
BREAKING NEWS
The biggest case of fraud today is
not #Dasukigate’s $2.1b, its
#Buhari’s $30b – Kalu Aja
The $30 Federal budget as proposed is simply
fraudulent, there is just no way else to put it.
I had written earlier about the absence of the
Education budget on the website of the Budget
Office, yes there is a link to the Education
budget, but click on it, it takes you to the
Defense Budget, so in effect the education is
“missing”. Undeterred I looked at the
Consolidated Budget to find the Education
budget, I wish I did not.
This budget was termed and advertised as a
“zero-based” budget, unfortunately, this budget is
a fraud, anyone who approves or signs this
budget is complicit.
Let me give you a few examples in this ‘missing”
education budget, Federal Government College
Garki has a cost N400,237 repeated 20 times…20
times! local transport, books, security,
maintenance, etc etc etc, all the same cost for
N400,237
Federal College Ijanikin has N350,362 repeated
12 times, how can newspapers, cleaning, Legal,
sporting etc etc etc all cost the same?
Federal College of Ikot Nise as N1,278,682
repeated 8 times…. How? water, drugs, training…
all cost exactly N1,278,682?
And it goes on and on and on……
Now before you assume it’s just restricted to the
Ministry of Education, the ministry with the
highest allocation the behemoth Ministry of
Works, Housing and Power has a line items
repeated 7 times i.e. “Generation of 700mw from
Zungeru Hydropower project is duplicated 6
times!
These are just the duplication, what about the
appropriateness of the expenses? The State
House Hospital, just one hospital gets more
allocation than all of Nigeria teaching hospitals
combined….
Let me be very clear, the State House Medical
Center get a proposed capital appropriation of
N3.8b, the combined total of the capital vote for
ALL teaching hospitals in Nigeria is about
N3.0b….no wonder the capital vote is high this
year….
Could the equipment being purchased for the
State House Hospital not be installed in the
National Hospital, so all Nigerian can use it?
I am just disgusted….
This has implications for all of us. You see in any
budget, you list your revenues, then your
expenses, the difference is either a deficit or a
surplus….in Nigeria case it’s a deficit, a deficit of
N2.2t….to fund this N2.2t, Nigeria will borrow
$25m a day, yes Twenty-Five Million Dollars a
day! you and I will pay for this borrowing,
remember oil has crashed, that’s why you’re
seeing “stamp duty taxes everywhere
The defense given is that we are borrowing to
fund the capital vote, to build roads and rails,
this is false. We are borrowing because the
recurrent vote has been bloated with numerous
repeated “N400,237” and “N1,278,682”. If the
recurrent vote is properly audited and these
duplication cleaned out, the difference between
the revenues and expenditure will fall, and
subsequently the borrowing will fall….
This budget is a fraud in intent and content, and
truly I am ashamed this fraud has been
presented and has been actually passed to
second reading….so this will pass? We will
actually spend more capital vote on one hospital
than ALL teaching hospital COMBINED?
I have to stop here; I don’t want to abuse
people….To hell with your anticorruption ……to
hell with it…. 1 Like |
Re: The Greatest Fraud Ever In Nigeria History by Baawaa(m): 7:47pm On Feb 01, 2016 |
You are still outside the bar that is why you are capable of saying trash,because you say this rubbish op,it is your turn to go jail |
Re: The Greatest Fraud Ever In Nigeria History by HtwoOw: 7:58pm On Feb 01, 2016 |
Wail on It is allowed OH and blame Buhari some more |
Re: The Greatest Fraud Ever In Nigeria History by excellencyabia1: 8:25pm On Feb 01, 2016 |
My expectations from nigeria and its politicians are dead for a long time so nothing about this corruption touches me. Because i no longer depend on it |
Re: The Greatest Fraud Ever In Nigeria History by jpphilips(m): 5:08am On Feb 02, 2016 |
@OP Even though I did not bother reading the rest of your post due to your glaring ignorance, let me categorically tell you that funding budget deficits does not automatically equate to borrowing, that is the crap Iweala sold to gullible Nigerians like you in 2014. Only a lazy government does that in a hurry!! The govt has every right within a fiscal year to increase the target of revenue generating agencies, that is another way of making up for budget deficits, they may increase tax net (in a country like Nigeria, only institutions and individuals in the public and private service pay reasonable tax, most people dont) if the net is widened, the revenue base of the country increases that will make up for the deficit, do you expect to see that in the budget too? So far on corruption allegations alone, Nigeria can fund 2 years budget if those funds are returned within a year, do you expect to see Olisa Metuh on the budget too? Sovereign wealth yields (if any) do make up for budget deficits, external reserves (if any) does that too like Saudi and Russia are doing today. This is my advise for you Instead of throwing around your ignorance on the internet, support the president on his Judicial reforms, that way, the anti corruption drive will yield results pretty soon, I hope you are not oblivious that Dasuki alone is sitting on a quarter of that deficit. That will only buy us more time before taxes are increased, most countries that are not oil dependent but successful, are dependent on income and corporate taxes there is no other magic to government revenues. Speaking of which, NLNG corporate tax for 2015 was $1.6b, almost one fifth of that deficit Read my signature before responding, I hate seeing ignorant people on my mentions. |
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