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Nairaland Forum / Nairaland / General / Politics / Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly (2838 Views)
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Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by Blue3k(m): 5:53pm On Nov 24, 2017 |
Source: https://www.premiumtimesng.com/regional/south-south-regional/250472-gov-emmanuel-presents-n651-5-billion-budget-akwa-ibom-assembly.html Front Page: lalasticlala |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by Blue3k(m): 5:53pm On Nov 24, 2017 |
This pretty interesting budget seeing it's mostly for capital projects. What I want to know is what he wants to budget to increase Ibom power plants capacity. Then I find it interesting he's just no interested in Ibom Tropicana again. Anyway better late than never. I hope he remembers the specialist hospital in his second term. Did they find new opperator after Starwood Hotels & Resorts terminated their contract with state? Education is only 1.6% of budget. 1 Like 1 Share |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by phantom24: 6:10pm On Nov 24, 2017 |
Meanwhile nothing tangible has been realised from the one of this year! Letar we'll hear that budget is just an estimated expenditure which is based on revenue expectations which means its a mere probability. So what's the essence of this in the first place? |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by micolaj: 6:12pm On Nov 24, 2017 |
Promising Budget. Implementation is the koko. I fear ;Dall these accountants rolling out big big budget Ambode is the next |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by NigerDeltan(m): 7:29pm On Nov 24, 2017 |
My man God will punish anybody that vote for APC in that state |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by Exclusive32: 7:33pm On Nov 24, 2017 |
where will you see the money?
main while, too small. |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by Blue3k(m): 8:33pm On Nov 24, 2017 |
I would like to see higher smount devoted to education. The ibakka suoer highway news sounds good. At least we wont be like the Apappa or rivers if executed well. They should also update us on port. These projections look a lilttle to good. By the governors projection hes expecting igr in the state to raise 12 billion in from 2016 IGR. (We dont know 2017 igr yet). |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by rollingrocks: 5:14am On Nov 25, 2017 |
Why will this FOOOOOOOL of a governor decide to build a 10000 capacity CATHEDRAL in a state that needs economic revival?. Dont we already have facilities that can comfortably host that number of people? You people should forget about that fake 2018 budget, The last two budget have nothing to show for it. Udom Emmanuel is so CLUELESS, VAIN,INCOMPETENT, DULL and not worthy to even be a LG councillor. UDOM EMMANUEL IS A BIG FAILURE !!!!!!!!!A CATHEDRAL??Between UDOM and OKOROCHA, i honestly dont know who is the dullest. Nothing is happening in that state 2018 apart from his low quality propagada and politics. Gosh, Despicable governor!!!! |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by Blue3k(m): 9:28am On Nov 25, 2017 |
rollingrocks: What Cathedral? Do you mean the 10,000 capacity stadem in Eket? Funny enough the majority want it going by Nairaland thread I posted. I wouldn't say he's doing nothing considering he attracted a few private firms like jubilee syringe factor, the metering plant. They state could be doing more. |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by rollingrocks: 10:09am On Nov 25, 2017 |
Blue3k: The man wants to build a CATHEDRAL, i know the difference between a cathedral and a stadium, is he OK at all. I visited that state some time ago after two years of absence and believe you me nothing much has changed. I was shocked. We had 2016 and 2017 budget with nothing to show. Im sorry Udom is a big disapointment. Those majority you talk about are very ignorant of the contents of the budget or are just playing to the gallery. 1 Like |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by Blue3k(m): 10:13am On Nov 25, 2017 |
rollingrocks: Well I dont see anything pop up on google. All that comes up is him surviving chuch collapse. I dont see why he should be building churces but its not first odd thing to happen during his tenure. |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by aribisala0(m): 10:17am On Nov 25, 2017 |
Where will the money come from? They only accounted for 280 billion where will 370 billion coe from? Is this not delusional |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by rollingrocks: 10:35am On Nov 25, 2017 |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by rollingrocks: 10:36am On Nov 25, 2017 |
Blue3k: https://m.facebook.com/story.php?story_fbid=778956612305116&id=223506687850114 |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by rollingrocks: 10:47am On Nov 25, 2017 |
For this man to even mention this cathedral in his budget tells me much about him. 1 Like |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by Blue3k(m): 10:49am On Nov 25, 2017 |
A befitting Cathedral that will be the first of its kind upon completion is in the offing as well as the 21 Storey modern edifice situated at where the old Uyo Market is being constructed by Julius Berger. rollingrocks: Wow you are right they squeezed it in there under a mountain of text. Then he also wants to blow money in lagos building some multistory building. Theres a church on every corner what do we need annother cathedral for. 1 Like |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by greatiyk4u(m): 11:05am On Nov 25, 2017 |
this is huge but practically not implimentable |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by Nobody: 11:38am On Nov 25, 2017 |
This governor is a Failure. No tangible achievements in the state since he stepped on power in 29th May 2015. My fellow akwa ibomites let's give APC a chance in this state come 2019. PDP must be bundled out of AKS! |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by Blue3k(m): 9:31pm On Nov 25, 2017 |
aribisala0: Exclusive32: The basis for budget. The 2018 Budget is predicated on oil benchmark of $45 per barrel at a production rate of N2.3million barrels per day with an estimated exchange rate ofN305/US$, in line with the National Budget benchmark projections. Other sources of funding the budget, according to the governor, are Internally Generated Revenue (IGR) N35.496 billion; Statutory Allocation from the Federation Account, N25.000 billion; Value Added Tax (VAT), N12.000 billion; and Budget Support, N 13.200 billion. |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by aribisala0(m): 9:40pm On Nov 25, 2017 |
Blue3k:They expect 200 billion from derivation The story says they expect less than 300 billion from oil + VAT + allocation Less than HALF of the budget WHERE WILL THE REST COME FROM? If theyy did not haave such a budget when oil was $100 please explain how it will happen now? 1 Like |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by Blue3k(m): 9:48pm On Nov 25, 2017 |
aribisala0: Debt The projected revenue 289 billion. Last year's was less than that. The only way I know how to cover shortfalls is debt. |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by aribisala0(m): 9:52pm On Nov 25, 2017 |
Blue3k:So why not say so instead of posting all that jazz when the plan is to fund more than half by debt? more than half of the budget from debt ? how much will that cost? TO SERVICE ? How will they pay it back? Who will lend it? How much do they owe already In one year that will be the biggest borrowing by a state government . over 300 billion.Is this realistic? 1 Like |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by aribisala0(m): 10:00pm On Nov 25, 2017 |
The repayment schedule for 300billion @ 10% interest is 3.9 billion every month for 10 years on a reducing balance model = total repayment of 466 billion So already you start with adding an annual loan repayment of 47 billion +whatever you are already owing on an income of less than 300 billion 1 Like |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by Blue3k(m): 10:02pm On Nov 25, 2017 |
aribisala0: Common sense tells most people if revenue doesn't cover expenses debt has to be used. Second this isn't a new occurrence. Last year projected revenue was N188.500 and budget was N485.792. The debt comes from many sources foreign and domestic. The ministry of finance had those statistics. Year to year Akwa Iboms debt to revenue better than most states statistically. Check fiscal sustainability index. The only way to solve debt problem is make more revenue and cut cost. |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by aribisala0(m): 10:09pm On Nov 25, 2017 |
Blue3k:Common sense may suggest that the government does not know what they are doing and are incompetent It all depends on which edition of common sense you are using. No state in Nigeria has ever EVER borrowed this kind of money.So common sense would dictate that should be the headline ,VERY EXPLICIT and not left to common sense because it is not enough to say we will borrow BUT who will lend it (I don't believe) such al ender exists and also on what terms and what reaymment schedule. Have they negotiated the loan or just assume they will find a lender. Like I posted above @ 10 % interest that would mean repayments immediately of 3.9 billion every month for 10 years Even if they succeed in finding a lender it is very likely to be @ higher interest rates and for a shorter term . To my mind this budget sounds like fantasy 1 Like |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by aribisala0(m): 10:13pm On Nov 25, 2017 |
Blue3k:Debt has too be repaid How will it be repaid? When you are running a deficit.Ultimately you must live within your means. Lenders are not stupid projected revenue is 289 billion and proposed borrowing would mean debt servicing of 48 billion (assuming 10% interest rate) probably much more for 10 years Clearly if Akwa Ibom borrows this amount this year that would be the last borrowing for a very long timeand in subsequent years the budget would shrink with dire contractionary consequences 1 Like |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by aribisala0(m): 10:23pm On Nov 25, 2017 |
I can only assume you are doing a paid job starting this thread and posting all this ignorant rubbish |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by Blue3k(m): 10:29pm On Nov 25, 2017 |
aribisala0: You're saying telling me the budget impossible? |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by aribisala0(m): 10:34pm On Nov 25, 2017 |
Blue3k:No ,It is very possible. I have not said it is not possible What is your point? |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by aribisala0(m): 10:38pm On Nov 25, 2017 |
My point is it would be very irresponsible to borrow that kind of money because it is not necessary to do so.IF the state succeeds in borrowing the interest rate would be unconscionable and if would mortgage the future of the state for no justifiable reason. I would agree with that kind of borrowing if all of it went into delivering sea port. 1 Like |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by Blue3k(m): 10:58pm On Nov 25, 2017 |
aribisala0: You did that's why I asked. In case you forgot. aribisala0: aribisala0: The budget could be better but its not gloom and doom and really wouldn't throw the state into fiscal chaos like your saying besides most of money budget towards capital projects. The Seaport they claim is on going. |
Re: Gov. Emmanuel Presents N651.5 Billion Budget To Akwa Ibom Assembly by Blue3k(m): 10:58pm On Nov 25, 2017 |
aribisala0: When you couldn't figure out how budget was funded till I told you. Your a real comedian. |
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