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Nairaland Forum / Nairaland / General / Politics / FG Seeks New Law To Permit Borrowing To Pay Salaries And Pension (555 Views)
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FG Seeks New Law To Permit Borrowing To Pay Salaries And Pension by 4Play(m): 7:45pm On Sep 27, 2017 |
From my understanding of this article, to put the ongoing practice of debt-financed recurrent expenditure on firmer legal footing, the Federal Government is seeking a new law to explicitly authorise this: ABUJA, Sept 26 (Reuters) - Nigeria’s government has asked parliament to amend its spending law to enable a debt program to settle 2.7 trillion naira ($8.6 bln) worth of obligations including pensions and salary arrears, according to a letter from Vice President Yemi Osinbajo. https://uk.reuters.com/article/nigeria-economy/update-1-nigeria-asks-senate-to-amend-law-for-govt-to-settle-2-7-trillion-naira-debt-idUKL8N1M75UC 1 Like 1 Share |
Re: FG Seeks New Law To Permit Borrowing To Pay Salaries And Pension by Nbote(m): 8:10pm On Sep 27, 2017 |
We have dead in diz country.. By d tym dis govt finish with us, we'ld b begging a fellow African country to colonize us... So we have to borrow to fund both capital and recurrent projects How do we pay back?? 2 Likes |
Re: FG Seeks New Law To Permit Borrowing To Pay Salaries And Pension by omohayek: 8:47pm On Sep 27, 2017 |
Yet more evidence of this government's financial recklessness and unwillingness to entertain any serious efforts at undertaking fundamental reforms. Instead of downsizing a bloated and highly dysfunctional state, their answer is to borrow to fund the salaries of people who mostly lie around doing nothing but gossiping or soliciting bribes, when they bother to show up at all for "work"? If GEJ was a failure, Buhari has been no better; any possible improvement he has overseen in the scale of large-scale corruption has been more than undone by the rank economic illiteracy of his government. Unfortunately, Nigeria's dysfunctional political system is unlikely to turn up anything better than this sick, uneducated old coup-plotter until 2023 at the earliest. |
Re: FG Seeks New Law To Permit Borrowing To Pay Salaries And Pension by Nobody: 8:48pm On Sep 27, 2017 |
Nigeria's APC sef |
Re: FG Seeks New Law To Permit Borrowing To Pay Salaries And Pension by limeta(f): 8:48pm On Sep 27, 2017 |
Borrow borrow government |
Re: FG Seeks New Law To Permit Borrowing To Pay Salaries And Pension by morbeta(m): 8:58pm On Sep 27, 2017 |
Borrow to pay salaries......wow this must be one joke from Basket Mouth. |
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