jln115:

That's not how it works buddy! Your total Government budget includes the revenue of all local Governments as well.

In South Africa not in Nigeria.

iblawi:


In South Africa not in Nigeria.

Citation! So your telling me your people get taxed double? Firstly by the local government and then by the national Government??

hahahah Ahh sh1t!! did you get banned @Iblawi? just create a new profile and tell me were i can find the link, obviously you got banned for posting it!!

Ooo sh1t!! you got banned again hahahahahah don't post the link dude!!

Third time lucky!! create an Iblawi2 !!!

Nigeria’s 10 highest revenue receiving states based on the federal allocations in 2013.

The states, according to her, earn more than the annual budgets of some neighboring countries.

The allocations are as follows:

Akwa Ibom N260 billion,
Rivers N230 billion,
Delta State N209 billion,
Bayelsa N173 billion,
Lagos N168 billion,
Kano N140 billion,
Katsina N103 billion,
Oyo N100 billion,
Kaduna N97 billion
Borno N94 billion.

Okonjo-Iweala gave the breakdown of the allocations on Sunday at Babcock University’s 12th Convocation at which she delivered a lecture with the theme: ‘Transforming Nigeria economy: Opportunities and Challenges’

“These were the allocations that all these states got last year, so the question is what did they do with it? Analysis shows that many Nigerian states receive revenue allocation which are larger than budgetary allocation of neighbouring countries such as Liberia which is $ 433 million, Gambia $210 million.

”So you see that our top 10 states receive more money than these countries and therefore you should be asking what is this money being used for?”
Okonjo-Iweala said.

She noted that some states use their allocation better than others adding that “that is why we can actually see what they are doing with their infrastructure, education, while others do not”.

”We should also ask ourselves what is the role of our state government and local government in supporting our transformation? We know from the constitution that provision of public services such as health, education, agricultural services and so on are all on a concurrent list and therefore are joint responsibilities of the federal state and local governments.

“However it is not often that you hear people asking what has your state done? Most of their attention is turned to the federal government so we also need to ask what do our state and local government do with the resources they get?” Okonjo-Iweala stated!!!

Federal allocations alone for ten state is over N1.5 trillion without state revenue. If I add the state revenue to it how much will this amount to. Just 10 States I repeat. I believe this is enough prove that we don't have state government budget/revenue with federal budget/revenue.

This is 2013 data when a dollar was N150.

Now you see we don't add state budget to federal budget like South Africa.

mzilakazi:


SA is judged according to European standard, that's all.

- SA unemployment is high but the whole of Africa is running to SA as their safe haven.

-SA now has over 6 months producing power undisturbed. LOL!!! No more load shedding.

- Our military uses over 70% of locally made equipments and weapons.

-There is.no such thing as open toilets. That's what we call media sensationalism. Those toilets were meant to have walls built around them. There were two separate contractors. One was responsible for fitting in the pipes and the toilets and the other was to construct the walls around the toilets.

Tell him to go and check the quees for SA VISA at SA embassies in lagos and abuja. Why would nigerians be seeking SA visa in droves if they knew unemployment in SA is 25%. There is 6m foreigners in SA including Nigerians, how many foreigners are in Nigeria currently?

jln115:

Citation! So your telling me your people get taxed double? Firstly by the local government and then by the national Government??

They have their boundaries?

iblawi:


If we plan to be the most heavily indebted nation in Africa like you we will.

Man we don't borrow money to give pensions and grants. SA has been doing it even during apartheid.

We borrow money only to build our infrastructure.

14:


Tell him to go and check the quees for SA VISA at SA embassies in lagos and abuja. Why would nigerians be seeking SA visa in droves if they knew unemployment in SA is 25%. There is 6m foreigners in SA including Nigerians, how many foreigners are in Nigeria currently?

Now estimated to be around 10 million.

Patchesagain:



Where in the world do we see Nigeria in the G20?

Nowhere

Nigerian economy is big on paper, but on the ground totally different story. Their economy is not globally linked, which means its an economy that is 90% locally, so it cant play major role internationally.

JSE MARKET CAP = $1 Trillion

NSE MARKET CAP = $40 BN

See the difference and gap

Reason why jp morgan kicked out nigeria out of its index, because there is no liquidity in Nigeria, no cash, but SA remains the only African country in the jp morgan index. This lezz of a guy must ask why jp morgan still has SA in its bond index, answer is, because of its financial power. Before he start talking about G20 or BRICS. you dont get included by defolt, you earn it to be included

iblawi:

Budget not revenue. We still generate more revenues than you do even with our tax system.

You need psychiatrist, maybe he might be able to help you with your problem. How can you have more revenues and still end up with smaller budgets? Does it really make sense?

Ibro105:
Federal allocations alone for ten state is over N1.5 trillion without state revenue. If I add the state revenue to it how much will this amount to. Just 10 States I repeat. I believe this is enough prove that we don't have state government budget/revenue with federal budget/revenue.

This is 2013 data when a dollar was N150.

Now you see we don't add state budget to federal budget like South Africa.

Uhm you do: "Nigeria’s 10 highest revenue receiving states based on the federal allocations in 2013." Its exactly how we work as well, each municipality receives an allocation and with that allocation generates revenue, all of this is added together to calculate the entire countries revenue and expenditure......How can Lagos for example generate its own revenue when the Federal government allocated its budget?? that revenue obviously belongs to the Government.

And how according to you is your Government going to generate revenue, when its allocating its entire budget to 776 local governments?? You see mate, your reasoning doesn't make sense?

iblawi:


In South Africa not in Nigeria.

Then it shows you don't know how tax system works. Local governments generate their revenues through licencing (learners and drivers), fines (traffic and by laws) and rate payers, like when people pay for rent. Every services rendered by LG include VAT which must go to National government.

Ibro105:


They have their boundaries?

BTW, i was hoping for an Iblawi2, would've been much cooler!

Ibro105:
Federal allocations alone for ten state is over N1.5 trillion without state revenue. If I add the state revenue to it how much will this amount to. Just 10 States I repeat. I believe this is enough prove that we don't have state government budget/revenue with federal budget/revenue.

This is 2013 data when a dollar was N150.

Now you see we don't add state budget to federal budget like South Africa.

Your budget and revenues is still small.

14:


Nigerian economy is big on paper, but on the ground totally different story. Their economy is not globally linked, which means its an economy that is 90% locally, so it cant play major role internationally.

JSE MARKET CAP = $1 Trillion

NSE MARKET CAP = $40 BN

See the difference and gap

Reason why jp morgan kicked out nigeria out of its index, because there is no liquidity in Nigeria, no cash, but SA remains the only African country in the jp morgan index. This lezz of a guy must ask why jp morgan still has SA in its bond index, answer is, because of its financial power. Before he start talking about G20 or BRICS. you dont get included by defolt, you earn it to be included

Awesome post bra!!

jln115:

Uhm you do: "Nigeria’s 10 highest revenue receiving states based on the federal allocations in 2013." Its exactly how we work as well, each municipality receives an allocation and with that allocation generates revenue, all of this is added together to calculate the entire countries revenue and expenditure......How can Lagos for example generate its own revenue when the Federal government allocated its budget?? that revenue obviously belongs to the Government.

And how according to you is your Government going to generate revenue, when its allocating its entire budget to 776 local governments?? You see mate, your reasoning doesn't make sense?

Do you think by showing high number of local governments that will intimidate us. Nope, the rule or principle is. IN AFRICA, THE BIGGER THE NUMBER, THE SMALLER THE ALLOCATION. Congo has 1000 of LGs but many of them are unproductive, the same thing like in Nigeria. Out of 700 LGs only few are productive.

jln115:

Uhm you do: "Nigeria’s 10 highest revenue receiving states based on the federal allocations in 2013." Its exactly how we work as well, each municipality receives an allocation and with that allocation generates revenue, all of this is added together to calculate the entire countries revenue and expenditure......How can Lagos for example generate its own revenue when the Federal government allocated its budget?? that revenue obviously belongs to the Government.

And how according to you is your Government going to generate revenue, when its allocating its entire budget to 776 local governments?? You see mate, your reasoning doesn't make sense?

Federal don't declared what is owned by state here. They are different. Money from oil is share by all levels of government before federal government will declares it's own share.

Am not talking about this again is left for those that want to know to know.

Am changing topic.

mzilakazi:


Do you think by showing high number of local governments that will intimidate us. Nope, the rule or principle is. IN AFRICA, THE BIGGER THE NUMBER, THE SMALLER THE ALLOCATION. Congo has 1000 of LGs but many of them are unproductive, the same thing like in Nigeria. Out of 700 LGs only few are productive.

I like your comparison BTW Congo and Nigeria.

Let's change topic

Ibro105:


I like your comparison BTW Congo and Nigeria.

Let's change topic

Is good that you gave up. Perhaps someone much more educated than you advised you about the true facts.

14:


Nigerian economy is big on paper, but on the ground totally different story. Their economy is not globally linked, which means its an economy that is 90% locally, so it cant play major role internationally.

JSE MARKET CAP = $1 Trillion

NSE MARKET CAP = $40 BN

See the difference and gap

Reason why jp morgan kicked out nigeria out of its index, because there is no liquidity in Nigeria, no cash, but SA remains the only African country in the jp morgan index. This lezz of a guy must ask why jp morgan still has SA in its bond index, answer is, because of its financial power. Before he start talking about G20 or BRICS. you dont get included by defolt, you earn it to be included

I dont know who you are but i like you!!

mzilakazi:


Is good that you gave up. Perhaps someone much more educated than you advised you about the true facts.

You will never learn and I pity you and your country.

I asked a simple question and you keep twisting things.

Does Angola and Algeria generate more revenue from oil than Nigeria?

Why is their budget and revenue higher than that of Nigeria?

Answer the question?

14:


Nigerian economy is big on paper, but on the ground totally different story. Their economy is not globally linked, which means its an economy that is 90% locally, so it cant play major role internationally.

JSE MARKET CAP = $1 Trillion

NSE MARKET CAP = $40 BN

See the difference and gap

Reason why jp morgan kicked out nigeria out of its index, because there is no liquidity in Nigeria, no cash, but SA remains the only African country in the jp morgan index. This lezz of a guy must ask why jp morgan still has SA in its bond index, answer is, because of its financial power. Before he start talking about G20 or BRICS. you dont get included by defolt, you earn it to be included

I see another Southies daft who hasn't finished learning but wants to be a teacher.


First off, JP Morgan is a bank. Full stop. Its removal of Nigerian bonds was due to lack of transparency and liquidity. China is more guilty of this , but that bank won't touch China because of US reliance on the Chinese economy.

Did JP Morgan delist Nigeria due to failing economy ? The answer is a resounding "No". Matter of fact as at September 25 Nigeria posted the highest bond yield just after Brazil. So get your facts right, Zulu.

Second, the only financial and economic good news in south Africa is your stock. Unfortunately, it doesn't transform into economic growth or created jobs.

South Africa's economy is still on life support, and will be so for a very, very long time. When it managed to come to, it will be limping while the rest of Africa flies away.

Third, there's no such thing as GDP or economic growth on paper. You're suffering from jealousy syndromes and economic illiteracy. GDP aren't gotten from the skies, they are facts and activities on ground that are measured that generates those numbers. Learn to live life as no 2 no.3

Your failing economy isn't is not a myth, it means 1 in 4 south Africans are jobless.

It means your inflation rate is springing high.

It means your air force can't afford fuel and flight hours.

It means most of your military maintenance contracts are being cancelled. That's the reality of your lifless economy.


Coming to your G20 and BRIC stories. Man, you have no sense of pride and achievement.

You earned neither of this organisations. China invited BRICs in order to rape your raw materials end of story. Your own press has confirmed this. Your economic contribution to BRIC is 2%. In fact, O'Neil says south Africa makes BRICs weaker. Thus, in a desperate show, South Africa had to open its visa to all BRIC members but none reciprocated. I can feel the Shame and desperation,bro.

But of course this will mean nothing to you. It is all about bragging to belong to an organisation that doesn't need you or where you contribute absolutely nothing to. It is the same desperation that pushed S.A to bribe to host a world cup. To be seen for what she is not.


G20, here, this group had finished enlisting qualified members with the relevant economies and NO AFRICAN COUNTRY made the cut. How could a body meant to look into the world economic plight not be representative of the entire world, leaving the second largest continent, Africa, behind. Thus south Africa was picked as having the largest and biggest economy in Africa.


Now, the questions is event and reality has overtaken South Africa. Her position is not only redundant but has become stale and purposeless.

For the criteria for admittance into that club are no more. SOUTH ACRICA CANNOT REPRESEBT AFRICA WHEN SHE IS ONLY THE NO 3 ECONOMY IN AFRICA. WHEN NIGERIA'S ECONOMY IS ALMOST TWICE AS BIG AS HERS. ABD EGYPT HAS KNOCKED HER FURTHER DOWN.

IT IS LIKE JAPAN TELLING CHINA : " We are to REPRESEBT south east Asia at the global stage because we have a more sophisticated economy " it is not only laughable, it is stupid and sound illiterate.

And that's how you sound. When a country like Nigeria best you economically, and is still outgrowing you , and has a larger market and population to you......


.......YOU BETTER START TAPPING OUT, ZULU.

lezz:
I see another Southies daft who hasn't finished learning but wants to be a teacher.


First off, JP Morgan is a bank. Full stop. Its removal of Nigerian bonds was due to lack of transparency and liquidity. China is more guilty of this , but that bank won't touch China because of US reliance on the Chinese economy.

Did JP Morgan delist Nigeria due to failing economy ? The answer is a resounding "No". Matter of fact as at September 25 Nigeria posted the highest bond yield just after Brazil. So get your facts right, Zulu.

Second, the only financial and economic good news in south Africa is your stock. Unfortunately, it doesn't transform into economic growth or created jobs.

South Africa's economy is still on life support, and will be so for a very, very long time. When it managed to come to, it will be limping while the rest of Africa flies away.

Third, there's no such thing as GDP or economic growth on paper. You're suffering from jealousy syndromes and economic illiteracy. GDP aren't gotten from the skies, they are facts and activities on ground that are measured that generates those numbers. Learn to live life as no 2 no.3

Your failing economy isn't is not a myth, it means 1 in 4 south Africans are jobless.

It means your inflation rate is springing high.

It means your air force can't afford fuel and flight hours.

It means most of your military maintenance contracts are being cancelled. That's the reality of your lifless economy.


Coming to your G20 and BRIC stories. Man, you have no sense of pride and achievement.

You earned neither of this organisations. China invited BRICs in order to rape your raw materials end of story. Your own press has confirmed this. Your economic contribution to BRIC is 2%. In fact, O'Neil says south Africa makes BRICs weaker. Thus, in a desperate show, South Africa had to open its visa to all BRIC members but none reciprocated. I can feel the Shame and desperation,bro.

But of course this will mean nothing to you. It is all about bragging to belong to an organisation that doesn't need you or where you contribute absolutely nothing to. It is the same desperation that pushed S.A to bribe to host a world cup. To be seen for what she is not.


G20, here, this group had finished enlisting qualified members with the relevant economies and NO AFRICAN COUNTRY made the cut. How could a body meant to look into the world economic plight not be representative of the entire world, leaving the second largest continent, Africa, behind. Thus south Africa was picked as having the largest and biggest economy in Africa.


Now, the questions is event and reality has overtaken South Africa. Her position is not only redundant but has become stale and purposeless.

For the criteria for admittance into that club are no more. SOUTH ACRICA CANNOT REPRESEBT AFRICA WHEN SHE IS ONLY THE NO 3 ECONOMY IN AFRICA. WHEN NIGERIA'S ECONOMY IS ALMOST TWICE AS BIG AS HERS. ABD EGYPT HAS KNOCKED HER FURTHER DOWN.

IT IS LIKE JAPAN TELLING CHINA : " We are to REPRESEBT south east Asia at the global stage because we have a more sophisticated economy " it is not only laughable, it is stupid and sound illiterate.

And that's how you sound. When a country like Nigeria best you economically, and is still outgrowing you , and has a larger market and population to you......


.......YOU BETTER START TAPPING OUT, ZULU.

Whatever you wrote here does not make sense at all.

-Nigeria's economy is also underperforming.
-There are more job losses in Nigeria because of falling oil prices which is also said to trade at $25 a barrell in 2016. Nigeria has effectively joined SA on its economic woes. Fact!!
-SA remains no:2 economy in Africa. Egypt is No:3

I wonder who is feeding you this wrong information.

Thank you.

mzilakazi:



Whatever you wrote here does not make sense at all.

-Nigeria's economy is also underperforming.
-There are more job losses in Nigeria because of falling oil prices which is also said to trade at $25 a barrell in 2016. Nigeria has effectively joined SA on its economic woes. Fact!!
-SA remains no:2 economy in Africa. Egypt is No:4

I wonder who is feeding you this wrong information.

Thank you.

I can't believe a South African can be this dull.

Just go answer my question

Ibro105:


I can't believe a South African can be this dull.

Just go answer my question

Your economy as analysed by economists will be dwindled by devaluation of your currency which you must anyway execute due to the mounting pressure to protect your reserves. Without reserves you will be in trouble. You will sink like titanic ship.

Ibro105:


You will never learn and I pity you and your country.

I asked a simple question and you keep twisting things.

Does Angola and Algeria generate more revenue from oil than Nigeria?

Why is their budget and revenue higher than that of Nigeria?

Answer the question?

Your question is irrelevant.

SA source their revenues on Diamonds, Gold, platinum, etc. Oil is cheap.

mzilakazi:


Is good that you gave up. Perhaps someone much more educated than you advised you about the true facts.

mzilakazi:



Your question is irrelevant.

SA source their revenues on Diamonds, Gold, platinum, etc. Oil is cheap.

You will never learn and I pity you and your country.

I asked a simple question and you keep twisting things.

Does Angola and Algeria generate more revenue from oil than Nigeria?

Why is their budget and revenue higher than that of Nigeria?

Answer the question?