So what became of the 6.2T naira budget whose implementation is not even up to 10% with no capital project executed? That must have been looted. What about the recovered loots that Lai Mu'hmmed kept brain washing the gullible populace? Can't the presidency explain to Nigerians what is going on or the NASS should never accent to this fraudulent request.I give up on this country.

Virement means the transfer of a surplus from one account to cover a deficit in another.
I do not know where the President requested additional funds outside the appropriated amount.
The moderator should change the title as there is nothing in the memo that suggests supplementary funds.
Please go through the last page of the memo carefully to get a better understanding.

APC! scam!!

AYAM QUIT SURE HE IS NOT THE ONE THAT TYPED THAT -POO,..IT CAME TO THE TABLE AND SOMEONE SAID SOMETHING ABOUT BIG I-BIGI

MONEY COMING OUT FROM IT AND HE QUICKLY SIGNED....

NA WE MARKET WEY WE PUT HAND TOGETHER BUY BE THIS,.ENJOY AM

checklots:
Virement means the transfer of a surplus from one account to cover a deficit in another.
I do not know where the President requested additional funds outside the appropriated amount.
The moderator should change the title as there is nothing in the memo that suggests supplementary funds.
Please go through the last page of the memo carefully to get a better understanding.

He is requesting to dip into existing govt funds to spend above his original 2016 passed budget.

The application details how he intends to fund the one trillion naira supplementary request.

doctokwus:
About N2trillion is supposedly saved from stoppage of subsidy and more funds has expectedly accrued to this govt thru it's claim of blocking leakages and the implementation of the TSA,so how come this massive additional requirement.Oil revenue shortfall cannot alone account for this level of incompetence.
Additionally,the almost 200% devaluation of the naira shud ordinarily increase govt revenue base in naira terms.
There is something fundamentally wrong in how the nation is being managed economically and I attribute it to the nincompoops imposed on the Fulani cattle rearer by his Fulani cabal while he sits there stupid ly more concerned with telling Aisha to stay in the kitchen and the other room!

you have been saved from Z.



Omenka when will you be saved

hyper inflation ooooo. abeg who dey decieved Buhari. chai! dis man is bent on destroyin d economy

Finally... the scam is real.

Virement is the transfer of budgeted funds from an unspent appropriation category to another, but within one head of appropriation. The transfer is to allow agencies greater flexibility in the use and management of its resources to achieve target outputs as specified in their respective Corporate Plans.
If d word is too big just google it bikooo

seniorkachion:

This should rightly be in the public realm.

I know. I'm not disputing that, but the tension in our system now is what I'm looking at.

digoster:
Abeg.. Where is the real 2016 budget?
6.2 trillion naira, yet nothing to show for it,
Buhari has gone mad

6.02 trillions not 6.2 trillion...

dfrost:


I know. I'm not disputing that, but the tension in our system now is what I'm looking at.

Why should the all powerful saints be wary of their zombie drones?

good news. at least salary of uniform personnel will be increased . I have strong believe that buhari will bring back this country to its old glory. may God not listen to the prayer of looters .

omisanjo:
Virement is the transfer of budgeted funds from an unspent appropriation category to another, but within one head of appropriation. The transfer is to allow agencies greater flexibility in the use and management of its resources to achieve target outputs as specified in their respective Corporate Plans.
If d word is too big just google it bikooo

The bottom line is that the FG will spend more than was budgeted.

The supplementary request for 2016 unlike that approved last year will be sourced from existing govt revenue and not debt like in 2015.

Either way, buhari is over shooting the runway.


But what is really of grave concern is that Nigerians are yet to see the impact or any tangible evidence of the 2016 budget which happens to be the biggest ever approved since independence.

Now that's what Nigerians are asking and not the definition of whatever technical term you chose to dwell on.

stiyke:
Wait oohh so them don spend budget finish?? Where? when? how?

What do u mean where ? Didn't u hear they arrested Ffk and Obanikoro and the judges ? That's what the money was used for - to do sting operations. Are u saying that's not an achievement ?

The Aso rock cabal needs more money

daamazing:
see figures 6 billion, 8 billion, 1 trillion, make dem just put the money for MMM,e go double.
meanwhile una president dey dress o

my brother no be small dressing, his a baffer..Lwkmd.

see format for another budget padding

The OP was mischievous.

The proposal was merely a request for the transfer of about N180b from Special Intervention accounts to a few recurrent and capital projects accounts.

The money is still part of the 2016 appropriation bill. It's not supplementary.

The only difference now is that the govt. want to use N180b for something else other than what the money was originally appropristed for. And to get that done, they needed the aporoval of NASS.

Of course this is not an endorsement for the govt. I'm just trying to correct a wrong info..

egbonnla:
This is suspicious. Asking for so much money two months to the end of the year. The National assembly should demand for the audit of FGN account in the past nine months before considering this fresh request for more money. How much did we earned as revenue, How much was borrowed and how much was spent. What has happened to the "recovered looted funds". What happened to the so call N6trillion budget of change? Economically, it has been a wasted year for Nigeria......and most Nigerians

A huge chunk of the budget has been wasted on the fruitless oil exploration in the northeast. This additional money, half will go to the same oil exploration and tending to his brothers in the IDPs.

If its time to clamp down on judges and opposition you would see the buhari led administration forming "too mush"


Oya improve economy na na die..

Mumu administration.


Nobody would hear from the apc zombies like arase and passingshot....


They run away....

MissingBudget:
A huge chunk of the budget has been wasted on the fruitless oil exploration in the northeast. This additional money, half will go to the same oil exploration and tending to his brothers in the IDPs.

Mumu na him go kill this administration. ..I just dey watch their stupidity. ...

EFCC777:
good news. at least salary of uniform personnel will be increased . I have strong believe that buhari will bring back this country to its old glory. may God not listen to the prayer of looters .

pls which old glory? since I was born, people has been saying exactly what u said but when was that? or may be u too wasn't born during the glorified yrs of nigeria just like every others that makes use of that word

TheRealestGuy:


After an unintelligent fool maybe in the south west screams one Nigeria!

After the civil war, tell me if there were funds allocated for the rebuilding of destroyed markets and house and churches and so on... all they did was promulgate decrees that would cripple the igbo man further...

But still we rose! Like the Phoenix!

Small BH destroyed a few things (yes it's few when compared to loses the east suffered after the war) and all they can think of is rebuilding the NE...

I pity people who do not know the true history of Nigeria...they even went as far as removing history from secondary school curricula...

And don't tell me the east declared war cos it was Gowon who reneged on the aburi accord...and with the pogrom going on in the north, what were Igbo supposed to do? Fold hands and be slaughtered like fowls?

"There can never be peace without justice and equity"

PS: If you're not an ardent follower of Nigerian history. Before, during and after the civil war, then don't quote me to yarn dust...

It's interesting you started ur analysis about the cause of the war from the aburi accord...not from events way b4 that.(selective)

It's also interesting u compare a civil war(among belligerents) with an insurgency

It's also interesting you only mention the northern pogroms, cleverly ignoring the southern pogroms

Whilst you're right about the need for equity n justice & also the subversive decrees of the then MILITARY govt.

Sneering at their attempt to rebuild the NE ravaged by insurgents whilst cleverly ignoring the fact that this present govt have also shown commitment towards cleaning up ND oil spills(something that has been an issue for decades) shows you're indeed choosy about which facts u seek to share.

The north is drunk on oil but don't blame them blame the southern leaders who refused to gain independence without the north.

I'm not surprised, after all the typical igbo man also cleverly chooses to Blame only Lugard for his 1914 amalgamation but exonerates azikiwe who mid-wifed the 1960 amalgamation of Nigeria (or who took over from macaulay as our pro-independence leader?)

The typical igbos here on NL cleverly choose to ONLY tag awolowo. A coward but tag a man who never visited his troops at their war camps & fled in the face of capture / death as a brave HERO.

You christened him ikemba: a man who sent 13year olds to the war front to die but had a well fuelled jet on standby to take HIM & HIS FAMILY OUT OF BIAFRA.

You selectively tag the northerners domineering yet the short-lived republic (rep of benin) a minority IGBO MAN was named it's president lol.

Should I go on? It is interesting we only talk about nigerian army massacres but forget the biafran army massacres during the war(u need evidence?)

FYI: I believe in one nigeria but if we decide to break up NO P. The ijaws efik, ibibio will regret joing the igbos same way southern cameroon regret join the francophone north.

It's not malice it's a fact... I look forward to your rebuttal great historian.

eyeview:
This is wickedness of the highest order. What do they have to show for the 6.2 trillion released about 6 months ago.
This is very heartless. Now they need an additional 1 trillion for the remaining 2 months of 2016 with no visible capital project to celebrate.
God please take this man away,he is a liability to the real growth of this nation

Bros, were u the one that released the 6.2trillion so far?
Do u understand what virement mean?

pchukwudi:
The OP was mischievous.

The proposal was merely a request for the transfer of about N180b from Special Intervention accounts to a few recurrent and capital projects accounts.

The money is still part of the 2016 appropriation bill. It's not supplementary.

The only difference now is that the govt. want to use N180b for something else other than what the money was originally appropristed for. And to get that done, they needed the aporoval of NASS.

Of course this is not an endorsement for the govt. I'm just trying to correct a wrong info..

That is why I asked someone if he knew what virement meant, because he was already asking what the govt HV done with 6.2trillion released so far

Ladies and gentlemen, Do you remember Mr Femi Gbajabiamila in 2014? How come he no longer speaks. I thought they said all those noise was because he was patriotic. He loved Nigeria etc.

Remember he said this. Can a sound journalist ask that man if anything has changed.

The 2014 budget passed second reading
in the House of Representatives on
Thursday after it went through three days
of debate by lawmakers. However, the
session was not devoid of drama, as the
Peoples Democratic Party members and
the Minority Leader, Mr. Femi Gbajabiamila,
exchanged words several times.
The All Progressives Congress lawmaker
from Lagos State came under a barrage of
attacks when he described the
Appropriation Bill as a document of
“voodoo economics .” Although
Gbajabiamila modified his language after
the Speaker, Mr. Aminu Tambuwal,
intervened, the APC lawmaker went ahead
to explain why he called the budget a
budget of “voodoo economics.”

He argued that only a budget of
“voodoo economics” would allocate
23 per cent of funds (N1.1tn) to
capital projects and vote 15 per
cent (N712bn) to debt service.
Gbajabiamila said, “Mr. Speaker, it
is voodoo economics when you
have a deficit of N912bn. By this,
you are saying that much of your
capital is going to be borrowed.
“You put N21bn in the Service Wide
Vote for election monitoring in the
Ministry of Finance. What is that?”
Gbajabiamila added that the
government earmarked only 5.6 per
cent for the health sector, against
the 16 per cent recommended
globally.
He also faulted the “paltry budget
of the education sector” for falling
way behind the 26 per cent
recommended by UNESCO as the
minimum for all countries.

My point is what is he now saying. God knows I don't take ANY politician seriously. Not even the ones shouting "corruption" up and down.

They said that Jonathan is clueless, I wonder what dey will call this one, ndi ara