Redoil:
borrowing by a developing nation to fund project is very deadly esp when it comes to bubu and lie mohamed.

adconline:

You are bereft of how budget works.. Those projects are part of his 30% capital expenditure.. If he's borrowing N2.5tn to fund capital projects, that would mean that capital projects are over 40% whereas govt id proposing 30% on capital projects.. Your numbers don't add up.
Btw, dollar to Naira conversion is N197 and it has no effect on the budget.. A reminder that Naira has lost value againt $ by 40% since last May.

Obiagelli:

Government is borrowing N1.8 trillion not 2.4trn, there is a reason for aggressive push for IGR, stamp duty is one of them

adconline:

Let's stick to ur number- if N1.8tn is borrowed, only N600bn would be for capital project while N1.2tn will be chop money for Politrickians-- this is pure madness!!w

Obiagelli:


My error, intended to type $29 billion

“With those efforts and strong
determination, we have seen our
foreign reserves moving from about
$29.1bn when his Excellency took
over on 29th of May to $31.89 billion
that it is at this time.

https://www.naij.com/483629-nigerian-foreign-reserves-increases-in-just-one-month.html

Obiagelli:

My goodness all the borrowed money going into capital projects. How many times will i say this?

luvinhubby:

Stop this!
Nigeria foreign reserve currently stands at $28 billion.

Obiagelli:


Have i said otherwise?

luvinhubby:

Pls specify how much precisely govt is borrowing, both locally & internationally to fund 2016 budget.

luvinhubby:

Read your post again & this time, very slowly.

Tokt:


U can say this again. Towards the end of Jonah-daft tenure, the fool borrowed 1 billion dollars to purchase arms only for Dasuki and co to squander it.

Obiagelli:


I copied it from the link i posted to show exactly how much gej left in may 29, so there wont be any argument about it

Obiagelli:


N1.8 trillion, it is written in the last paragraph of this article

luvinhubby:

The arguement is today's balance.

asuustrike2009:

But professor of lie said he used to purchase substandard weapons

luvinhubby:

Conservative estimate, 2.1 trillion is the realistic figure, go ask budget site.

Tokt:


Only substandard weapons will make gallant soldiers that excelled in other countries run away in their own coutry when told BH was on her way. It only happened under jonah-daft presidency. The professor was right.

obayaya:


It does..

Because the governors' forum can wake up one day and compel you to share the ECA.. And Even secure court orders in that regard.. We've seen Amaechi led Governors' forum do it..

I think that's the point luvinhubby is trying to make

Tokt:


Only substandard weapons will make gallant soldiers that excelled in other countries run away in their own coutry when told BH was on her way. It only happened under jonah-daft presidency. The professor was right.

asuustrike2009:

But same professor said they' have defeated boko haram technically with the said weapon. Apc pipo make una open una eye, shine am wella. Don't let all there politicians deceive una.

obasiken:


But you just said dasuki embezzelled the money. So which money did he use to buy the sub standard. And which weapon is the NA using to carry out the war right now

obasiken:


But you just said dasuki embezzelled the money. So which money did he use to buy the sub standard. And which weapon is the NA using to carry out the war right now

Obiagelli:


Oil is not even the biggest source to fund the budget, try again

Ioannes:
well I guess the only consolation in all these is that there won't be massive stealing of the loan under buhari as we witnessed with jona and baba iyabo.

borrowing is the only way to keep the country afloat with the oil price tending towards $0.

Obiagelli:


Deficit is 2.1 trillion

loan is 1.8 trillion

The rest i believe will be sorted out with agressive IGR push

luvinhubby:

What is the difference between deficit & borrowing in respect to budget projections, considering that projected IGR was part of the calculated income that gave rise to the deficit which will be augmented by borrowing.
In short, deficit & borrowing are one & the same in every budget.

Tokt:


Yes he was right. He gave reasons for declaring technical defeat didnt he? TANoids and Ipob fools wont tell u that part will they?
He said they are Technically defeated because their capability and capacity to annex territories of the federal republic like they did under the leadership of the buffoon has been neutralised. Sane minds surely know that this is true.

Tokt:


U can say this again. Towards the end of Jonah-daft tenure, the fool borrowed 1 billion dollars to purchase arms only for Dasuki and co to squander it.

drnoel:


bros i wonder what Nigeria will do once oil Prices hits rock bottom of 0 Dollar/Barrel?