mekaboy:


You are simply trying to defend a confused govt. A govt that cannot tell Nigerians if they are paying subsidy or not. Assuming I wanted to invest in oil and gas today I will be confused. They said they are not paying subsidy, next you hear they are paying subsidy.

The govt that said petrol price should fall as oil prices fall are telling us that oil prices will be reviewed upwards from next month.

The govt says they want to diversify but budget more for information than agriculture.

promised 5k for unemployed and free meals for students. Went from nasco biscuit to no meal at all.

Want Nigeria to grow but will not allow any region develop independently.

A government that wants to grow Nigeria yet restrict forex for manufacturers to buy raw materials.

Ban import of rice today allow it 2morow.

Nnpc to import all the petrol needed today, 2morow they start to beg importers to start importing.

Isn't the naira devalued already? or is anyone selling their stuff based on cbn rate? everything we buy today is based on parralel market rate.

The worst part is that after all the time wasted, jobs lost, untold hardship, Buhari will still devalue naira when it is already late.

If I am confused about the direction of this govt as a Nigerian, how do u expect investors to be confident?

tuale4u:


Obasanjo left $22 billion dollar in excess crude account. That was why there was no crash. But PMB only met $2billion dolllar.

I think PMB is trying despite what d evil of GEJ govt

obailala:
You know exactly what what you are doing is called?.. It's called nagging!... Quit nagging boy. If you are angry, go out there and get a chilled bottle of beer, if you can't afford it, hang out with your friends who can and quit lamenting from point A to point B cos you are obviously deviating from the point of this thread into general wailing.

Regarding fuel subsidy and many more, the govt is not confused, rather you are the one who has failed to comprehend a simple explanation. Landing cost of fuel fell below the govt fixed price so subsidy payment stopped and the govt pocketed and saved the excess. Today the landing cost has risen above the fixed price so the govt has resumed payment of the difference (subsidy); the govt isn't confused in this, rather you are the one confused about the simple explanation.

Again regarding forex, there is a serious shortfall in forex supply so the govt is trying to save your asss by restricting its distribution, but you obviously want the govt to open CBN vaults as the exploitative foreign powers advise, and then after 3 months, when the country runs out of forex reserves and the pestilence starts, we would be a failed state like Venezuela etc and you will jump up in your suffering and blame Buhari. Yet today you pitch your tents with foreign slave drivers and exploiters of 3rd world countries because you think opposition entails that you MUST stand against any and every decision of the president you hate.

Guy, go drink beer abeg! or alternatively, gaa kporo otu nwa agbogho lakpuo and stop worrying me

gentleheart1:


You must be related to Lie Mohammed, Buhari met more than $25 billion left by GEJ's government.
Your brain is very daft perhaps you should explain to the world where Buhari got money to allocate to States and also lend States too.

gentleheart1:


You must be related to Lie Mohammed, Buhari met more than $25 billion left by GEJ's government.
Your brain is very daft perhaps you should explain to the world where Buhari got money to allocate to States and also lend States too.

mekaboy:


1 question for u. How much forex have left Nigeria since Buhari came into power and how much has entered. If more have entered then you are right. If more have left and still leaving then you are as confused as the govt.

Where we're u when APC did the calculation and arrived at about 40 a litter under gej? How come they are now reviewing upwards ?

Whether u like it or not the reserves will be emptied sooner or later as long as investors are not coming in. We are already spending $1 billion a month . How long will it take before it empties.

The dollar will still get to 400 parralel market by July.

obailala:
What manner of reasoning is this?.. So if I come online and say APC will do A or B, does that mean "APC said A or B"?

Nigeria is suffering from a negative balance of trade presently, the amount of forex coming in is less than the forex going out. That's why the CBN has imposed those biting restrictions to limit the forex going out and prevent our reserves from falling to zero. Yes it is killing businesses and it is increasing sufferings, but if the restrictions aren't there, the reserves would have run out since and the sufferings you have now would be nothing compared to the pestilence that would follow if reserves drop to zero. No amount of foreign investments can instantly bridge the gap in forex demand.

Oh yes the forex reserves is still going down, but at least almost 1 year down the line, it hasn't dropped by up to $1bn from what Buhari met and this is because of these restrictions. Remember in the last 6 months of GEJ when these forex restrictions weren't there, the reserves fell by $10bn in 6 months. That was even when most of the foreign investors were still there. I'm sure you know it's been 11 months since Buhari took over, you can only imagine what would have been the case now if the restrictions weren't put. The FG/CBN is sticking its neck out and even sacrificing some businesses to save the larger society but you just can't see that because you prefer to hate Buhari and anything he does. This is common sense but your prejudice towards the govt would let you give a damn.

1wolex85:

I don't get why you are going back and forth with this guy. He is programmed to oppose anything that comes from this govt

obailala:
What manner of reasoning is this?.. So if I come online and say APC will do A or B, does that mean "APC said A or B"?

Nigeria is suffering from a negative balance of trade presently, the amount of forex coming in is less than the forex going out. That's why the CBN has imposed those biting restrictions to limit the forex going out and prevent our reserves from falling to zero. Yes it is killing businesses and it is increasing sufferings, but if the restrictions aren't there, the reserves would have run out since and the sufferings you have now would be nothing compared to the pestilence that would follow if reserves drop to zero. No amount of foreign investments can instantly bridge the gap in forex demand.

Oh yes the forex reserves is still going down, but at least almost 1 year down the line, it hasn't dropped by up to $1bn from what Buhari met and this is because of these restrictions. Remember in the last 6 months of GEJ when these forex restrictions weren't there, the reserves fell by $10bn in 6 months. That was even when most of the foreign investors were still there. I'm sure you know it's been 11 months since Buhari took over, you can only imagine what would have been the case now if the restrictions weren't put. The FG/CBN is sticking its neck out and even sacrificing some businesses to save the larger society but you just can't see that because you prefer to hate Buhari and anything he does. This is common sense but your prejudice towards the govt wouldn't let you give a damn. How can you hate you country so bad all because you want to hate Buhari?... I don taya for una!

mekaboy:


There is no way I can see it if you invest more in information than agriculture. There is no way I can see it if you spend hundreds of millions to run tv wire to drivers in Aso Rock. there is no way I can see it if your driving latest 2016 cars when oil sells at $38.

When a govt calls the past govt corrupt but want to spend more on itself than the past corrupt one which sold oil at $100 while they sell at $38. I don't see the sacrifice here.

obailala:
The total value of the anomalies (paddings) when summed up wasn't up to 1% of the total budget. So please hold your peace, you aren't talking to a kid. And by the way, a surgical cleaning has been done by the NASS to remove those anomalies hence the budget value fell from N6.08 to N6.06 trillion, the president hasn't also refused to sign the passed budget pending when he does his own surgical review; so quit deceiving yourself, this will be the cleanest budget in Nigeria's history.

TheGoodJoe:


There was never a time that a budgetary padding discovery led to a shake up of the budgetary offices. There is no way the same thing is flying this time.


Earlier, the finance committees of the two chamber’s had met to harmonise the discrepancies in their respective reports before adopting a harmonised version

.http://www.premiumtimesng.com/news/headlines/200611-finally-senate-house-reps-receive-2016-budget-report.html

Adminisher:


This is for low IQ , unemployed fools.
Deficit budgeting gets carried forward to increase National debt. The Naira value crashed sharply just before PDP left office.
I have said it again anybody who does not realise that the current economic conditions are the consequences of past mis management is a coward and a fool. What is the word management?
Management is proactive guidance of an economy for the future not to PATCH up the present. If Buhari were irresponsible, he could move questionable loans into the country, mortgage our future and destroy the future of the silly person posting this or his children. On top of everything, Nigerians own resources equal to about ten times the GDP of Nigeria and the Nigerian diaspora sends more foreign exchange than oil earnings as at last year. There is a lot that endurance, hardworking and patience can do but little that "flash" ideas can do.

Geniro:


Stop the endless delusion. The shake up from the budgetary office wasn't mirrored in the budget recently passed by the NASS.

TheGoodJoe:



How can the shake up mirror in the budget?

I do not understand that statement.

There was padding in the budget and most of the work was done by the budgetary offices. Due to the padding, there was a massive shake up in the offices. Some were moved to where they would never come close to the budget again.

The budget was revisited and the article I quoted showed the two chambers met and harmonised the discrepancies in their report.

You are the one who wants to front as if nothing was done with the padding of the budget.

Geniro:


Stop chasing your tail, do you know what sectors/sections that were harmonized ? Where are the specifics ?

TheGoodJoe:


I asked you if you believe nothing was done and you said I believe so. I showed you that something was done. Now you want me to bring specifics.
Na wa.

Geniro:


You are equally not talking to fools here. Kindly show me the total percentage of the paddings or accept you are just an easy going liar. What surgical cleaning are you talking about ?

A "surgical cleaning" shrouded in mystery that you aren't even aware of. You are clearly taking the piss when you mentioned a surgical review especially from the Presidency. The Presidency who after retrieving the flawed budget failed woefully in "surgically" removing outrageous allocations , they ended up with a copy fraught with even more trash.

You are the fellow clearly deceiving himself with a delusion that this will be the cleanest budget. Not after the embarrassing display of the presidency in recent times.

mekaboy:


You are confusing her position with that of the icpc efcc and central bank.

Naija9090:


Typical yoruba...calling GEJ a dunce yet you are suffering under your Hausa-Fulani master...perpetual slave!