Nairaland Forum

Most people feel the problem is NOT SUBSIDY REMOVAL but the HIGH LEVEL OF CORRUPTION IN GEJ"S GOVT.
Take a look at the 2012 BUDGET BELOW FOR EXAMPLE, The same budget that requires Nigerians to go through SO MUCH PAIN, TO SAVE NIGERIA FROM COLLAPSING!
Is it only the masses that must suffer to save Nigeria from collapsing? WHAT ABOUT THE POLITICIANS, ESPECIALLY THE PRESIDENT & HIS TEAM?
Some of the "items and prices attached" are just plain evil.

This piece is about the 2012 budget and its sad realities.

The Basics:

1. The budget of N4.749 trillion assumes an oil price benchmark of $70 a barrel, oil production of 2.45 million barrels per day and zero deduction from Federation Revenues for the fuel subsidy.

2. Despite the above assumptions, the budget contains a deficit of 2.77% of GDP. (The nominal GDP has been estimated by National Bureau of Statistics (NBS) to be about N36 trillion in 2011), so essentially about N1 trillion of the budget is to be borrowed, or relies on exceptional income like privatization proceeds, loans and grants-in-aid.

3. Accordingly, out of the capital budget proposal of N1.32 trillion, only about N300 billion will be available from our federal revenues. If the “subsidy” is not withdrawn, the deficit will be even higher and the FG would then contravene the 3% cap on deficit in the Fiscal Responsibility Act 2007.

4. None of the so-called SURE projects have any NEW source of revenue to finance them other than what have been described above UNLESS:
(1) the oil price benchmark is raised above $70 or
(2) the Naira-Dollar exchange rate allowed to slide thus raising more Naira for the government.

The above assumptions are far-fetched in the current global economy.

Some examples of wasteful spending decisions are itemized below:

5. A review of the budget provisions of 21 out of 50 Ministries, Departments and Agencies revealed the following amounts for some recurrent and capital expenditure items:
• Travel – local and international N13 billion
• Stationery, Magazines, Newspapers, etc. N4.5 billion
• Maintenance of vehicles, furniture, etc. N17 billion
• Training N5 billion
• Fuel and Lubricants for cars, generators, etc N4 billion
• Miscellaneous: welfare packages, refreshments, meals, etc N9 billion
• Acquisition of Computer Software N2.5 billion
• Research and Development: whatever that means! N27 billion
6.
The actual provisions in the budget would be at least twice these amounts, and total about N160 billion of waste. This amount is equal to the amount budgeted for the power sector!
7.
Some examples of some of the wasteful spending under “Research & Development” are N2.498 billion for “citizen’s call centres” under the Ministry of Communications & Technology, N1.2 billion in the Ministry of Agriculture to incorporate commodity marketing companies! The Ministry of Foreign Affairs wants to spend N322 million to acquire “computer software”. This is very expensive software indeed!

8. A lot has already been written about the budgets in the Presidency. The following are some weird examples of what has been included in the State House (Villa) budget:
9. Overhead is about N7.2 billion, or about N20 million per day to keep our President and VP happy. Their local travel budget is N724 million or N2 million per day, including weekends, while their international travel budget ix N951 million or nearly N3 million per day.
10. The president’s office has N285 million to hand out as “welfare package”, N265 million to buy computers, N150 million to buy scanners, N161 million for buses, N295 million for new furniture, and N1.8 billion to “maintain existing furniture, office and residential quarters”.
11. The intend to buy desktops for N300,000 each, laptops for N314,000 each and scanners for a whopping N190,000 each. The public address system in the President, VP’s office and Banquet Hall will cost N150 million! The SGF wants to spend N65 million on tree planting. Note that planting a million trees in Abuja over 4 years cost the FCT Administration less than N50 million then!

Conclusion: There is a lot of waste, and misplaced spending priorities in the Budget which can be reviewed to free more funds to finance subsidies, capital investment and improved governance. Do you remember #budgetscam ? This is worse than that!

Now you know why government doesn’t mind killing all of us because they will not free funds from the loots of their corrupt friends, they will not cut their salaries and allowances and they will not reduce their number of aides. Instead of all that, they’d rather hurt Nigerians by all means possible.

You can share this information with as many people as possible. Information has proven useful in this struggle.

Hmmmm ,  ,  ,

Lastpage!

Hmmm. . . , you can be sure this kind of post doesn't get to see "Frontpage on NL", only worthless posts like "Would you take Lollipop instead of Ice-cream"?

Speaks volumes about "Democracy and I.Q of our Moderators"!

At times you are tempted to think there are too many "closet traitors" masquerading as impartial arbiters!

Lastpage!

Am I surprised that JONATHAN KNOWS MEMBERS OF THE CABAL? ,  ,  , NO!

AM I SURPRISED JONATHAN IS IMPOTENT AND AFRAID OF THEM ,   ,   ,   , NO!

Am l bothered that Aliko Dangote , Otedola, Mike Adenuga, Wale Tinubu all bank-rolled Jonathan's election? ,  ,   , NO!

AM I SURPRISED THAT ALIKO DANGOTE'S MLS PETROLEUM COLLECTED =N=224.8BILLION AS SUBSIDY IN 20011 ALONE? ,   ,    , NO!

AM I SURPRISED THAT MIKE ADENUGA'S CONOIL COLLECTED =N=37.96BILLION IS SUBSIDY IN 2011 ALONE? ,   ,   ,   NO!


AM I SURPRISED THAT WALE TINUBU'S OANDO COLLECTED =N=228.52BILLION IS SUBSIDY IN 2011 ALONE? ,   ,   ,   NO!

AM I SURPRISED THAT EACH OF THESE "SUBSIDY COLLECTOR" CONTRIBUTED IMMENSELY TO JONATHAN'S ELECTION? NO!


NOW YOU SEE WHY HE KEPT ON LAMENTING ABOUT "CABAL-THIS, ,   , CABAL-THAT!

My guy has dined with the Devils and he is really phucked-up right now.

These thieves must refund every Kobo our money!

Lastpage.


The full list is below:
The full list as read out by Senator Abe, is as follows:
1. Oando Nigerian Plc. – N228.506 billion
2. MRS – N224.818 billion
3. Pinnacle Construction - N300 billion
4. Enak Oil & Gas – N19.684 billion
5. CONOIL – N37.960 billion
6. Bovas & Co. Nig. Ltd. – N5.685 billion,
7. Obat - N85 billion and AP; N104.5billion.
8. Folawiyo Oil - N113.3 billion
9. IPMAN Investment Ltd - N10.9billion
10. ACON - N24.1 billion
11. Atio Oil - N64.4 billion
12. AMP - N11.4 billion
13. Honeywell - N12.2 billion
14. Emac Oil - N19.2 billion
15. D.Jones Oil - N14.8 billion
16. Capital Oil - N22.4 billion
17. AZ Oil - N18.613 billion
18. Eterna Oil - N5.57 billion
19. Dozil Oil - N3.375 billion
20. Fort Oil - N8.582 billion
21. Integrated Oil. & Gas - N30.777 bn

THESE ARE THE MEMBERS OF THE CABAL.
*THEY ARE MORE POWERFUL THAN THE PRESIDENT.
*THEY ARE GIVEN NATIONAL AWARD
*THEY ARE MEMBERS OF THE PRESIDENTIAL ECONOMIC TEAM.