obailala:
The funny thing about the cretins is that when you deflate their lies and senseless arguments with facts, they resort to name calling and accuse you of BLAME GAME.

Just the other day I was in an argument with one confused boy who claimed Buhari/Fashola have destroyed our power infrastructure. He thinks a Buhari who only just got his first budget approved should be blamed, but he doesnt think a GEJ who spent over $10bn on power but handed over an epileptic system which was generating a measly 1327mw as at handover should take any blame.

Some these cretins and their opinions really need to be ignored totally, but I fear for the level of damage they would have done in terms of distorting public opinion if allowed unchecked.

obailala:
The funny thing about the cretins is that when you deflate their lies and senseless arguments with facts, they resort to name calling and accuse you of BLAME GAME.

Just the other day I was in an argument with one confused boy who claimed Buhari/Fashola have destroyed our power infrastructure. He thinks a Buhari who only just got his first budget approved should be blamed, but he doesnt think a GEJ who spent over $10bn on power but handed over an epileptic system which was generating a measly 1327mw as at handover should take any blame.

Some these cretins and their opinions really need to be ignored totally, but I fear for the level of damage they would have done in terms of distorting public opinion if allowed unchecked.

TheGoodJoe:


If anyone was senile, it is Ngozi Okonjo-Iweala who mismanaged the reserves and one of the largest, if not the largest windfall in the history of Nigeria.

She towed in the most senile route.

betterABIAstate:
GEJ left $30billion, even obasanjo confirmed it. APC lied

Geniro:


Judging by the current admin jacking up the budget to over 6 trillion loaded with vile nonsense. What is your defense towards that ? Huh !!

Would NOI tow such senile route if she was still in charge ?

plaetton:


Because APC heavy weights like Amaechi, Saraki, with the backing of APC strongman Tinubu, went to court to demand that GEJ government should share the excess crude oil account .

I guess you selectively forgot that part?

obailala:
The high spending is meant to stimulate the economy even in the downturn, go educate yourself and stop insulting your mothers out of sheer ignorance.

4Play:
The real reason why it was difficult to accumulate a rainy day fund when oil prices were higher is because of the public sector wage bill. During the OBJ era, the minimum wage was N5000, Yar'Adua and GEJ more than tripled public sector wages - making the minimum wage N18,000.

If you look at government budgets - both at state and federal levels - recurrent expenditure dominates and most of it is public sector wages. With a tripling of wages, consumer demand increased driving up fuel consumption and in turn the fuel subsidy bill, fuel subsidy had to increase anyway due to higher oil prices. The combination of a bloated wage bill and high fuel subsidy bill eroded the capacity to save.

Another thing that has to be mentioned is that until oil prices collapsed and exposed the folly of not saving, there was no public demand for saving. To the contrary, Lai Mohammed was on record stating that APC's first policy will be to abolish the excess crude account and the sovereign wealth fund. As it is his wont to play to the gallery, this reflected the popular view. At the state level, state finances were run like oil prices will always stay high (witness Kemi Adeosun's stint bankrupting Ogun state as the state finance commissioner).No one was doing threads on Nairaland bemoaning the paucity of our rainy day fund. Only with hindsight did we realise the hole we had dug ourselves. People get the leadership they deserve and Nigerians have got what they deserve.

Geniro:


While the certificate-less dullard in Aso rock inflated the budget with silly things for the boys in a season that was supposed to be difficult for the masses.

You see how smart zombies sound in defense of this confused and clueless admin.

aresa:



What exactly is your point because you sound confused.

Geniro:


While the certificate-less dullard in Aso rock inflated the budget with silly things for the boys in a season that was supposed to be difficult for the masses.

You see how smart zombies sound in defense of this confused and clueless admin.

TheGoodJoe:



[b]
Posers over duplications in 2010, 2011 budgets .
Monday, 28 February 2011 00:00 By Ade Ogidan, Business Editor News - National


A COCKTAIL of unsavoury duplications of capital expenditures, totaling N3.1 billion may have been uncovered in this year’s approprbefore the National Assembly.

The discovery noted certain approvals in the 2010 budget, which resurfaced again in the current year’s estimates, even at higher figures, giving credence to the lamentations over the high cost governance in Nigeria, especially the whopping amount expended in maintaining the upkeep of officials.Indeed, a N1.06 billion estimate for the construction of official quarters in this year’s appropriation bill, has raised eyebrows, on assessed impropriety of the budget.

Specifically, the assessed duplicated expenditure proposals include a N500 million for the extention of Vice-President’s lounge at Aguda House; N400 million for acquisition, upgrading and furnishing of Vice-President’s Guest House also at Aguda House; furnishing of number two citizens Guest House at Asokoro, Abuja at N100 million.

https://www.nairaland.com/613673/more-undeniable-proof-gej-government[/b]

Geniro:


Am pretty sure this budget was also in surplus of over 6 trillion naira in a "difficult year" . Keep shooting yourself on the foot digging out references that shows your chants of "change" is a big scam.

Geniro:


Zombies don't know when to keep shut. You mean the padded nonsense like Aso rock rent and 788 million website allocation e.t.c is to stimulate the economy ?

If insulting your great-grand mothers and fathers will dump common sense into your skulls. then am all for it.

Geniro:


Am pretty sure this budget was also in surplus of over 6 trillion naira in a "difficult year" . Keep shooting yourself on the foot digging out references that shows your chants of "change" is a big scam.

TheGoodJoe:



[size=14pt] Ncc Budgets To Spend N75m To Change Toilet Doors And Keys In 2012.[/size]


The Nigerian Communications Commission (NCC) will be spending N75 million this year to replace old toilet doors, locks, repainting of fading walls and provision of directional sign posts to the Commission’s waiting room and canteen. This was even compounded by the fact that the budget was proposed after an allocation of N28 million was made for the same purpose in the budget of last year. Plus, in the 2011 budget, the Commission had proposed N60 million for automation and changing of all access doors of its head office building in Abuja.

https://www.nairaland.com/869965/ncc-budgets-spend-n75m-change

In 2016, the State House will spend N27. 5 million on computers, while N268.9 will finance computer software acquisition. Aso Rock will spend N764.7 million on recreational activities

obailala:
You are the one insulting your ancestors... To whom brain is given, sense is expected. I suppose you have a brain in your skull?... You should be able to do a simple google search to learn the simple economic logic of increasing spendings on infrastructure to boost the economy at hard times like this.

obailala:
NOI actually acknowledged that the economy survived in 2008 because of the savings. Pay no attention to the dubious characters who titled the report this way, they know Nigerians only read titles.

NOI however absolved herself of all blame by claiming it was the governors that prevented her from saving under GEJ.

Geniro:


While the 2016 had over N764.7 million on recreational activities just for the presidency . . . . . .



http://www.vanguardngr.com/2015/12/2016-budget-fg-to-spend-n4-1bn-on-cars-2/

Sibrah:
The economy didn't crash when oil price crashed in 2014. It took almost 2 yrs for us to feel its effects, so what is our textbook heavyweight saying?

TheGoodJoe:


Under President Buhari, we can see the fight due to budget padding. Under GEJ, things like these scaled through with little fuss.

TheGoodJoe:


I am pointing out to you that Budget padding is not a new thing. It passed repeatedly under the nose of Ngozi Okonjo-Iweala's tenure.

Buhari's tenure is more sensitive to these kind of thing. That is why you are seeing the commotion raised.

You tried sounding as if this is Buhari government challenge but it is synonymous to other government.

Geniro:


You are just another zombie on the prowl.

What is the economic logic of increasing frauds in a budget to boost the economy. Most of you are just shameless beyond redemption.

mekaboy:


Borrowing is not bad as long as your economy is growing at a rate that supports it. Even America is owing china even with their growth. The economy was stable under her and she could borrow easily as investors were more confident in her policies.

Today buhari is destroying the economy and still Borrowing. Investors are fleeing and have no confidence in his team.

Our growth is low and inflation is on the rise. That is the difference between buhari Okonjo borrowing and NEPA certificate borrowing.

Geniro:


You are clearly confusing yourself.

Then where is the change if frauds committed under previous regimes is greatly amplified under the current regime who chanted "Change"

aresa:



Basically, the people who mismanaged Nigeria financially and economically for 16 years that laid the foundation for our problems are really not responsible for the current situation, but a less than one year government trying to clean up their 16 years worth of mess is responsible.


Thia crazy and wild things you read on NL sometimes...

Pidggin:


I mean can't

More austerity measures coming – Okonjo-Iweala
Following the continuous decline of the price of crude oil in the international market, the Federal Government on Thursday said it was preparing additional measures to mitigate the impact of the price drop on the Nigerian economy.
She had during a public presentation of the 2015 budget proposal listed the stoppage of the purchase of new furniture, and reduction in international travels and trainings by government officials by 50 per cent as some of the austerity measures to be taken this year to boost revenue.

Others are the implementation of the Stephen Orasanye committee’s report on the rationalisation of the civil service; and introduction of 10 per cent tax on private jets, three per cent surcharge on champagnes and one per cent property tax on mansions with value exceeding N300m.

Between December 17, 2014 when the budget proposal was submitted, with oil benchmark price pegged at $65 per barrel, and now, global oil prices have further crashed to around $46 per barrel.

The development has further heightened tension in the country because of the Federal Government’s almost total dependence on crude oil exports for its revenue

Specifically, Okonjo-Iweala told the children that 2015 would be a very difficult year for the economy, noting, however, that with appropriate fiscal and monetary policy instruments, the government would manage the economy in a manner that would be beneficial to all.
http://businessnews.com.ng/2015/01/17/austerity-measures-coming-okonjo-iweala/

mekaboy:


Are the less than 1 year people aliens? did they come from heaven? Are the not the one that refused to save because they wanted to use to money to sponsor the election of the confused government they put in power?