femisplash:

We're talking about budget performance here, not debt forgiveness. There's nothing best about an economic team that squandered $16b power funds and sold national assets at crap value.

iwaeda:


https://punchng.com/2023-budget-hopeless-says-ezekwesili/

Betashop:


I know you don’t understand how economics works and the modalities for your debt to be forgiven. While you worked in that, I mentioned NIPP projects. I work in the Power sector. Over 10 brand new power stations under the NIPP scheme was was established in 2004.

This is why I said, you don’t understand what it means to be a foundation for democracy...

Up till now, OBJ’s economic team is still the best Nigeria have got or assembled. The EFCC, ICPC and a host of them now use were part of his futuristic ideas

PUSSYHOE:
Jagaban of APC is coming to correct buhari of APC Mistakes so everybody shut up, idiots Nigerians and illiterates!!!!!

Mycometp3:
You b ode...oponu..elebi...like say ur papa get shares for apc

femisplash:

She was in OBJ cabinet, tell us one thing their budget achieved in 8 years?, just one thing.. I don't have the time for dumb people.

femisplash:


Olodo, was that the reason we had epileptic power supply throughout his administration without no significant improvement after squandering $16b in their private pockets. A man that refused to heed to decentralization

Mention one thing OBJ's budget achieved in 8 years or get out.

PUSSYHOE:
Jagaban of APC is coming to correct buhari of APC Mistakes so everybody shut up, idiots Nigerians and illiterates!!!!!

femisplash:

We're talking about budget performance here, not debt forgiveness. There's nothing best about an economic team that squandered $16b power funds and sold national assets at scrap value.

IbeOkehie:


When Obasanjo took office Nigeria was a cement importer. Most cement manufacturers were government owned.

OBJ's administration wrote the law that sold off all the government owned cement companies. I think that was in 2005. For example, CCNN was sold to BUA, Benue Cement was bought by Dangote Industries.

Today Nigeria is self sufficient in cement and even exports the product.

It was President Yaradua that messed up the electricity sector. The real problem there is TCN.

Thanks.

femisplash:

Olodo, was that the reason we had epileptic power supply throughout his administration without no significant improvement after squandering $16b in their private pockets. A man that refused to heed to decentralization of power despite several calls, he would rather hijack IPP project done by Tinubu in Lagos and connect it to the national grid.
We could see how his EFCC dogs were unleashed on divergent voices, even against his own party folks and pocketed a supposedly independent agency for his personal greed. A super greedy man who converted a national project into a personal farm, he unconstitutionally armtwisted individuals, ministries and parastatals to donate personal and federal resources in building a Library in his hometown.
Mention one thing OBJ's budget achieved in 8 years or get out.

femisplash:

You are get it wrong, we had always had foreign cements coming in very cheap to complement demands. OBJ reduced cement industry to monopoly by a handful capitalist thereby skyrocketing local prices of cement & killing healthy competitionrather than a liberalized industry. Moreover, Yar'Adua didn't mess up electricity sector, what he did wrong was reversing the sale of our refineries which would have helped solve petrol scarcity & subsidy scam.

MondayOsunbor:



PVC IS NOT ENOUGH TO CHASE OUT APC FROM POWER

WHAT WE NEED NA GUNS!

femisplash:

We're talking about budget performance here, not debt forgiveness. There's nothing best about an economic team that squandered $16b power funds and sold national assets at scrap value.

jmoore:
2023 Budget of 21.8 trillion naira. 30% of it (6.6 trillion naira) will be used to service debt.
APC/Buhari has finished this country!!

USA spend between 4 and 5 % of their national budget to service debt.

While Nigeria will spend about 30% of the national budget to service debt in 2023.

A poor country spending 30% to service debt VS a rich country spending 4.5% to service debt.

DaveHarry:

See why I'm not even sure of Nigeria's progression in next 100 years? Bad government!

iwaeda:


https://punchng.com/2023-budget-hopeless-says-ezekwesili/

femisplash:

We're talking about budget performance here, not debt forgiveness. There's nothing best about an economic team that squandered $16b power funds and sold national assets at scrap value.

stepaside2:
I think beyond the emotions of labeling the budget as 'hopeless' and dwelling on the deficit side of it (tragic I accept), madam Oby could have advanced more reasonable arguments against it.

The options that guarantee little to no budget deficit is to (singly or in combination);

1. Cut recurrent expenditure by half (sack workers and don't increase salaries). You can get some mileage here but by how much and look at the effect on unemployment?

2. Remove subsidies and reduce deficit by N6trn. This leads immediately to increase in fuel prices to be borne by Nigerians

3. Increase revenues through blocking loopholes and extending tax net to cover our largely informal sector.

Number 3 appeals to me but that will take time. The few that pay taxes are now taxed even more thereby disincentivizing them. The agricultural, Trade and ICT sectors contribute more than half of our GDP but those sectors are largely informal and contribute little to taxes.

So madam Oby should choose among very difficult options as there is no silver bullet to this budget deficit problem.