Below is an excerpt from the Atiku camp's critical assesment of budget 2011 and the view of business operators in the commercial nerve centre of Nigeria.With this budget,we are in trouble!
[b]“[b]At a time of unprecedented oil boom, you have presented Nigeria with a budget of consumption for consumption; a budget of debt accumulation to imperil the future; a budget that is rich in rhetoric and pedestrian initiatives but lacking in any bold step to lay the foundation for Nigeria’s next 50 years or even 20 years,” Atiku said.

He warned that excessive borrowings that marked the Jonathan administration as indicated in the budget was in negation of the Fiscal Responsibility Act, “has the potentials of returning Nigeria to a regime of debt overhang and making nonsense all the gains of the negotiated cancellation of the nation’s debts.

“I almost wept for Nigeria after reading your 2011 budget, which is your first budget as President of Nigeria. In simple terms, it signals your vision for Nigeria and how you intend to govern. For effect, you proudly announced that this is the first budget of the National Implementation Plan (NIP) for Vision 20:20:20. The rest of the world must be laughing at us. For a summary, you proposed a total expenditure of N4.22 trillion to be financed [/b] by a revenue estimate of N2.83 trillion, leaving a total deficit (new borrowing) of N1.4 trillion.

“Mr. President, you plan to borrow 33% of the entire budget, or 3.62% of GDP which is higher than the 3% stipulated in the Fiscal Responsibility Act. Your total debt service is N542 billion (which is higher than your total capital spending on power, roads, health and education put together). Your total recurrent expenditure (including debt service) is N3.023 trillion, meaning that with a revenue of N2.83 trillion, your government plans to borrow money to finance recurrent expenditure even if capital budget is zero.

“Your recurrent budget is 107% of total revenue. Put differently, your capital budget is N1 trillion whereas your deficit or planned borrowing is N1.4 trillion, meaning that even with a zero capital budget you plan to borrow about N400 billion to add to revenue to finance CONSUMPTION. Mr. President, no one needs to be an economist to appreciate that this is a disaster,” Atiku wrote.

He said that it was unacceptable for the government to have recourse to borrowing the entire capital budget at a time of increasing revenue from oil.

“Mr. President, let me draw your attention to the simple meaning of your budget: not one kobo of our oil revenue (at a time of oil boom) is being spent on power and infrastructure. Rather, you plan to spend the entire oil revenue on consumption, and even borrow to consume. Every Kobo of capital budget is to be borrowed. If you continue to borrow at the average interest rate of 14% by the 2012 budget, your borrowing in 2011 will add another N196 billion to debt service payment (and hence by 2012 debt service might be in excess of N738 billion),” he said.

“At the rate you are going, by 2015, debt service payment will be in excess of N1 trillion. If oil price drops below $50, it is evident that government will not be able to service its debt without austerity measures. Is this what you plan for this country?” Atiku said.[/b][b][/b]

Simple put,this budget says'first share the money for the boys(officially known as recurrent expenditure/security votes,debt servicing etc) then look for money to borrow for building roads,hospitals,infrastructure etc(officially called capital vote),now if you dont get money to borrow,never mind,Nigerians wont worry!We must reject this budget,its an attempt by the politicians,national asembly and civil servants to make sure their own loot continues to be sustained while nothing will come to the people!If GEJ goes ahead with this horrible budget,he should forget our votes!

Nigeria’s foremost business group, Lagos Chamber of Commerce and Industry (LCCI), has expressed dissatisfaction with the huge cost of governance, as reflected in the 4.2 trillion naira 2011 budget proposal recently presented to parliament by President Goodluck Jonathan.

According to a statement from the LCCI, the figures allocated for recurrent expenditure constituted a large chunk of the overall budget, with only very small amount left for the execution of capital projects which have greater impact on the people.

“The relativity of the recurrent to capital budget in the 2011 appropriation bill presented to the National Assembly is even worse than that of the 2010 budget, where recurrent (non-debt) expenditure was 2.007 trillion naira and capital budget was 1.85 trillion naira. This was a ratio of 53 per cent to 47 per cent,'' LCCI president Femi Deru said in the statement (US$1=150 Naira).

Recently, the Central bank of Nigeria (CBN) Governor, Sanusi Lamido, caused a stir when he said that 25 percent of the National budget was being consumed by federal lawmakers.

After the budget presentation, the lawmakers offered to cut their recurrent spending for 2011, apparently because of the national outcry generated by Sanusi's revelation.

The business group also criticised the allocation of 542 billion naira for debt servicing, describing it at excessive.

On the government's decision to set aside 50 billion naira for job creation in the 2011 budget, the Chamber noted that such public sector-driven programme had very little chances of succeeding.

It said the disbursement of the fund could become politicized by politicians, create another incidence of ghost workers as was the case in the past and provide avenue for corrupt practices by public officers.

The Chamber advised that the fund should be given to the private sector, especially the small businesses, to create more jobs that are sustainable

Simple put,this budget says'first share the money for the boys(officially known as recurrent expenditure/security votes,debt servicing etc) then look for money to borrow for building roads,hospitals,infrastructure etc(officially called capital vote),now if you dont get money to borrow,never mind,Nigerians wont worry!We must reject this budget,its an attempt by the politicians,national asembly and civil servants to make sure their own loot continues to be sustained while nothing will come to the people!If GEJ goes ahead with this horrible budget,he should forget our votes!

True talk.

this culture of paying the politicians and civil servants salaries/benfits 100% salary for a whole year for doing nothing,even borrowing money to pay this same class of nigerians diminishes me as a person and infact makes the rest of us look like morons.For God's sake,Nigeria is not for politicians and civil servants alone! its simply unfanthomable that a Phd holder-president can continue to borrow to pay unproductive salaries,diesel for generators etc!pls tell him now before the full mobilisation starts.He must give us hope,GEJ must chart a path for the future,this is an NFA(No Future Ambition) budget!

.We must speak against this NFA budget. The sad thing is that,this sad story called 2011 bugdet proposal has been replicated in almost all the 36 sates and 774 LGAs of the federation!We are a country at war with itself,infact,waste should be the middle name of our leaders.imagine the proportion of funds used to fund inefficiency and corruption.Have you imagined all the tiers of govt borrowing from banks to pay salaries of a lazy incompetent and corrupt civil service,buy diesels for generators,cars etc.They are robbing my today and still busy piling up debts for my grand and great -grand kids and you think i bother about the alleged notoriety of one of them called atiku!

The President has no brains.

All he thinks about is to extend his free stay in Aso Rock. He is not interested in solving problems.

all of you are brainless.you are all on brain-support sponsored by Atiku

@ evilspirit;
First of all may God guide and protect us from you.
Please we are discussing issue here "Don't Disturb"

See this one. As if your votes count.

@ mobinga,i dont knw where u are but need I remember you that my vote had counted in d past wen it produced Fashola and NOT OBANIKORO.I am sure my vote will count again.Let me tell what we did in my area.We voted,waited behind for the count,got the result and physically escorted the ballot!However, the issue still remains if we sit back and do nothing,PEOPLE WHO ARE NOT MORE NIGERIAN THAN YOU AND I WILL PHYSICALLY CART HOME THE WHOLE BUDGET,for your information,NO THANKS TO GEJ (who is likely to lose the 2011 presidential elections),the money in the budget is already stolen on paper!2011 will be all movement and no progress!AND YOU THINK YOU & I SHOULD STILL VOTE GEJ?

Goooooooooooo Tikkkkkkkkkkkkkku!!!!!





I have always stated that ONLY Northerners in Nigeria can rescue Nigerians from themselves. Southerners are really daft! First, we hear from Sanusi, now Atiku. ONLY m0r0ns would think of their ethnic sentiments before the interest of the whole country.

Another proof Jonathan "Egunje" Goodluck is not fit to rule a dormitory, not to mention a country. He keeps borrowing without getting a sound economic team to curtail Federal spending. Borrowing money to pay legisla-thieves and execu-thieves!

Nigeria is doooooomed I swear!

And we thought Yaradua was baaaaaaaaaaaaaad!!!
Any dictator God punishes Nigerians with seem to be worse than the previous one. Time to break the curse from "Ota". . . .


Goooooooooooooooooooooo Tikkkkkkkkkkkkkkkkkkkkku!!!!

Only with rigging can GEJ win that presidential seat. . . !!!

[size=14pt]These are some of the things in GEJ's BUDGET[/size]

THE State House plans to spend over N500 million on food stuff and catering supplies, according to an estimate in the 2011 budget before the National Assembly.

The State House (residences and offices of the President and Vice-President) is allocated N21,159,867,112.

About N1,570,107,112 is for salaries and wages. Allowances and social contributions will be serviced with N640,386,203.

The proposed recurrent expenditure for the office of the Vice-President is N8,395,543,797. This is broken down into travel and transport (N2,014,658,355); utilities (N263,514,587); materials and supplies (N1,614, 315,741); maintenance services (N2,847,709,086); training (N338,045,242); consult-ancy and professional services (N85,747,680); fuel and lubricants (N197,700,000); miscellaneous (N1,033,853, 106) and loans and advances (N53,830,000).

About N54 million is voted for fuelling of plant/generator.

About N574, 074,750 is to be spent on food stuff and catering materials are to cost N374,074,750; N312,400,000 is for refreshments and meals; N86,422,720 for honorarium and sitting allowances and N383,408,436 is proposed to be spent on welfare packages.

Under the proposed capital vote of the vice president, over N3 billion is set aside for buying fixed assets; N30 million is to be spent on office furniture and fittings; over N428 million is voted for computers; N553,594,442 for canteen/kitchen equipment, N403,594,442 for kitchen and household equipment and N150,000,000 for household equipment and materials (for the Vice-President’s residence).

There are, also, N1,128,640,000 for residential furniture and N21,875,000 for recreational facilities.

More than N4billion is provided for the construction and provision of fixed assets in the State House. Out of this, N1,170,000,000 will be spent on construction/provision of residential buildings; N861,000,000 for electricity (in the State House) N545,000,000 for the construction/provision of infrastructure and N184,000,000 for the construction/provision of recreational facilities
N24 million is proposed for one library scanner for the library.

The purchase of utility and operational vehicles for the office of the VP is to cost N300 million. The furnishing of the VP’s Guest House at Asokoro is proposed to cost N100 million.

About N400 million is proposed to be spent on the acquisition, upgrading and furnishing of the VP’s Guest House at Aguda House.

For the rehabilitation of 10 houses on Ibrahim Taiwo Street for Principal Officers of the President, N101 million is likely to be spent and N48 million is voted for the rehabilitation of presidential/ ministerial chalets at Nnamdi Azikiwe Airport, Abuja.

The rehabilitation of the Banquet Hall dome roof is estimated to cost N81 million and N302,291,157 may be spent on the rehabilitation of the Aso Villa administration building.

http://thenationonlineng.net/web3/news/22938.html

Excuse me- for 8 years, Atiku was in government. Where was his economic abracadabra throughout the eight years? Please let us know.

You should be asking your "OBJ", the rotten fish head, who was the minister of/for petroleum un-audited for 8 years and counting through GEJ now. When this same Atiku was criticising OBJ then in those 8 years (despite his presidential ambition) like he is doing to GEJ now, where where you all? Still thinking with your tookuses!

Do Vice presidents have any real powers in any true democracy. . . not to mention a dictatorship like we have in Nigeria? Please, go and educate yourselves and stop sucking wharrreva you have in your mouths!

ahidjo:

[size=14pt]These are some of the things in GEJ's BUDGET[/size]

THE State House plans to spend over N500 million on food stuff and catering supplies, according to an estimate in the 2011 budget before the National Assembly.

The State House (residences and offices of the President and Vice-President) is allocated N21,159,867,112.

About N1,570,107,112 is for salaries and wages. Allowances and social contributions will be serviced with N640,386,203.

The proposed recurrent expenditure for the office of the Vice-President is N8,395,543,797. This is broken down into travel and transport (N2,014,658,355); utilities (N263,514,587); materials and supplies (N1,614, 315,741); maintenance services (N2,847,709,086); training (N338,045,242); consult-ancy and professional services (N85,747,680); fuel and lubricants (N197,700,000); miscellaneous (N1,033,853, 106) and loans and advances (N53,830,000).

About N54 million is voted for fuelling of plant/generator.

About N574, 074,750 is to be spent on food stuff and catering materials are to cost N374,074,750; N312,400,000 is for refreshments and meals; N86,422,720 for honorarium and sitting allowances and N383,408,436 is proposed to be spent on welfare packages.

Under the proposed capital vote of the vice president, over N3 billion is set aside for buying fixed assets; N30 million is to be spent on office furniture and fittings; over N428 million is voted for computers; N553,594,442 for canteen/kitchen equipment, N403,594,442 for kitchen and household equipment and N150,000,000 for household equipment and materials (for the Vice-President’s residence).

There are, also, N1,128,640,000 for residential furniture and N21,875,000 for recreational facilities.

More than N4billion is provided for the construction and provision of fixed assets in the State House. Out of this, N1,170,000,000 will be spent on construction/provision of residential buildings; N861,000,000 for electricity (in the State House) N545,000,000 for the construction/provision of infrastructure and N184,000,000 for the construction/provision of recreational facilities
N24 million is proposed for one library scanner for the library.

The purchase of utility and operational vehicles for the office of the VP is to cost N300 million. The furnishing of the VP’s Guest House at Asokoro is proposed to cost N100 million.

About N400 million is proposed to be spent on the acquisition, upgrading and furnishing of the VP’s Guest House at Aguda House.

For the rehabilitation of 10 houses on Ibrahim Taiwo Street for Principal Officers of the President, N101 million is likely to be spent and N48 million is voted for the rehabilitation of presidential/ ministerial chalets at Nnamdi Azikiwe Airport, Abuja.

The rehabilitation of the Banquet Hall dome roof is estimated to cost N81 million and N302,291,157 may be spent on the rehabilitation of the Aso Villa administration building.

http://thenationonlineng.net/web3/news/22938.html

Just imagine?
Arrrrrrrrrrrrrrantus Nonsensicus!

This is enough to publicly execute him. I hope Ayodele's prophesies come true as soon as possible. Amen.

Mary J Blige - Pls address issues and not persons. U re obviously a GEJ supporter, that's your trade mark

Fellow Nigerians, I dont care wu wins, but it definitely cannot be GEJ, he is clueless.

Aganga shd be arrested and prosecuted immediately, same goes for Sanusi and the rest of the looters

Atiku for once is saying the truth, the way it shd be said.

Abi o!
The reason 'females' should not be encouraged to discuss politics. Always thinking with their 'tampons'!

With this kind of revelation, anyone still campaigning for GEJ is definitely SICK.

BEAF, see what u guys have in stock for us.

Arm chair critics. LOL. Which issues has your thick necked Atiku addressed?

For eight years, he stole and stole and stole, now, he wants to continue where he stopped? You can say all you want, arm chair critics, but the man Atiku is desperate and is using every tick in the book to get noticed. But the fact is, how many people has forgotten so easily his thieving days in government since his time in customs or he is suddenly become a saint?

What has Atiku contributed to the development of Nigeria since all his time in government? Nothing. So, what else or what more can he contribute?

The politricians of 9ja have carved a way to get richer by all means.

Even the stoopid atiku criticizing gej's budget is no better.

Ma_J_Blige:

Arm chair critics. LOL. Which issues has your thick necked Atiku addressed?

For eight years, he stole and stole and stole, now, he wants to continue where he stopped? You can say all you want, arm chair critics, but the man Atiku is desperate and is using every tick in the book to get noticed. But the fact is, how many people has forgotten so easily his thieving days in government since his time in customs or he is suddenly become a saint?

What has Atiku contributed to the development of Nigeria since all his time in government? Nothing. So, what else or what more can he contribute?

exactly, nothing. I suspect he's going to be the worst president ever if he's allowed to govern. He might actually sell 9ja if possible

@ sulad82i you still dont get it!With this NFA 2011 budget GEJ has already sold Nigeria on paper!The campaign is not about atiku or GEJ(afterall they and their family are satanically insulated from the sorrows nigerians experience as a result of their poor leadership records)Its the fact that its still early for us to stop them from giving us lame excuses and condolences for the death of nigerians thawill be cauased by this evil budget proposal.We must speak against it in all Nigerian foras,facebook,twitter etc.Nigeria is not about their insatiable appetite alone!

Seems all GEJ supporters both in real life and on NL have issues.

Atiku has made valid points which the GEJ camp cant refute his supporters just resort to shouting thief without any backing.

Isnt it a indictment on the puppet GEJ that a man whom you all claimed stole from Nigeria is walking free and contesting elections?

What does that say about that hat wearing puppet

year in year out,they exhaust all the recurrent expenditure paying senators and civil servants salaries and allowances and release no money for capital!PHCN workers once complained that govt never buy tools for them(but they collect salaries all year for doing nothing!).Federal Roads Maintenance Authorithy(FERMA) complained that their failure to make road repairs is because capital votes is nevr released to them!).Same goes for the water ministry,housing,education etc YET WORKERS IN THESE MINISTRIES WOULD COLLECT FULL SALARY/ALLOWANCES! Please this insanity must stop,tell somebody to tell somebody that as FAR as this 2011 budget is concerned,2011 is year of 2000 and do-nothing!Why reward him with vote,salaries,perks of office if he(GEJ) cant listen to us.He should review this budget or forget our votes!

The proposed recurrent expenditure for the office of the Vice-President is [size=16pt]N8,395,543,797.[/size] This is broken down into travel and transport (N2,014,658,355); utilities (N263,514,587); materials and supplies (N1,614, 315,741); maintenance services (N2,847,709,086); training (N338,045,242); consult-ancy and professional services (N85,747,680); fuel and lubricants (N197,700,000); miscellaneous (N1,033,853, 106) and loans and advances.(N53,830,000).

See Jonathan Goodluck's proposed package to "Sambo" oooooh!
Like OBJ bribed Atiku for 8 years and made him a Billionaire.

www.nairaland.com/attachments/360110_thief_jpg03fa410e988f7d5957843ec1511da5af

Thieeeeeeeefffffffffffffu!!!

If the head of the fish is rotten. . . . !!!


[size=16pt]Did Jonathan complain as VP to Yaradua? No![/size]
Does anyone see Sambo complaining? No!

So why should Atiku refuse his 'dues' given to him by "Baba Ole" from Ota?


[size=16pt]Goooooooooooooooooo Tikkkkkkkkkkkkkku!!![/size]

OMG!
This is one of the satanic recurrent expenditure!

@ Blazay God bless you.pls can you find the capital released to date for the 2010 budget.We need to compare the capital released so far for each ministry,something tells me,it is still very low whereas almost 100% of 2010 recurrent expenditure would have been released.

^^^

I will spare you the details. You never account for capital in Nigeria only 'expenditure'.
Ask OBJ.
Let us just say Jonathan Goodluck's package is 4 times that of Sambo's!
Just like OBJ's was 10 times that of Atiku's as the sole minister of/for petroleum for 8 years!

Chi-ching!

We are dead in Nigeria I tellya!

Astute observations. You are on to something

KnowAll:

The budget is a budget for someone planning a quick exit and early retirement from Aso Rock. Those two Jonathan & Sambo are doomed already and they know it, they have deicided to pursue plan B with reknewed gusto than any other scheme, they are already planning a life style outside the prying eyes of all u armed chair critics.

OLE NI gbogbo won. Iru kan o fo kan

Koruji, please, I will live to have words with you. Are you on fb/twitter? Or, can you kindly contact me on cgpa.mag@gmail.com.

I dey laugh o!