greateros: the reason for imminent economic collapse has shifted from fuel subsidy to governors

Nigeria - the more you look. . .

__________________________________________________________________________________________________________________________

“there is no money stacked up anywhere, which is why I am pushing for savings, in case the Nigeria National Petroleum Corporation (NNPC) does not sell crude oil or cannot remit money as it’s being experienced in recent times.”





After Governors, ELECTRICITY TARIFFS. Na Wa O. Maybe NIGERIA is already broke, How GEJ go CHOP.

Brixtonyute:

The bolded part of your post is because the FG takes the bulk of the money. You're a PDP guy, and they're power now - if they really care about Nigeria - why can't they RETURN us back to REGIONAL GOVERNMENT - where we won't have to bother about the FG anymore?

I bet you guys will NEVER do that because of the largesse at the center. That's more reason why the woman needs to shut up, and do her job. She has no control over state governments - and they're entitled to what's in the CONSTITUTION. If she doesn't like it - she should get her PDP croonies to change the backward constitution to TRUE FEDERALISM. Till then, she needs to shut up.

Firstly, I am not a PDP guy, I just prefer that party by a long shot.

The FG takes the bulk of the money, because the states and LG's produce absolutely nothing. What we have is a crowd of leeches who are unaccountable to the electorate, because all focus is on Abuja. Until each and every one of us realises that our current constitution only enslaves us and our childrens children, we will not move an inch toward either national development or national happiness.

If it was as easy as getting any party to immediately entrench true federalism, it would have been done yesterday; however, the core-North is vehemently opposed and the SW's definition demands even more dependence on Abuja, the Middle Belt position is not solid in any direction; this leaves only the SS and SE demanding true federalism in its purest form. Evidently, a lot of politicing still needs doing to harmonise positions across the country and raise awareness (which is why you keep hearing echo's about true federalism from Iweala and GEJ's other people).

Ola one: I will call Beaf out when he starts clamouring for true federalism

I don't know how you expect the States and LGs to do this when the FG chose to yank off them - albeit illegally, the power to raise their own revenue and control their own destiny.
The FG has arrogated to itself the power to oversee the whole country and only doles out what it likes to these States.

When did the FG yank the power to raise revenue from any state or LG? The only states that applies to are the oil producing states.

There is no excuse for the rot we find our states and LG's in. It is an absolute disgrace that they cannot think beyond splitting money from Abuja into their personal accounts; you and I are to blame for this, not the FG. Reason? We blame the FG and dole out chieftancy titles instead of burning down the homes of the bastar'ds that are supposed to represent us, but steal our money and kids futures instead.

Kilode?!:


Just to clarify, the main thrust of my comment was to address the issue of expectation. Both of NOI as a Public Servant and the States as a group. 

You cannot expect states to stop wasting money when you are busy enabling their wastage, actually, "enforcing their wastage" is a better term. The FG is like a rich thief with poor parental skills, The rich thief gave over 60% of his stolen wealth to his spoilt children, knowing they have never worked at earning a living in their life. 

It is stupid for that thief to now accuse his spoilt children of wastage, what was he expecting from them? Thriftiness? Prudency? 

@Brixtontuye, I offered a perspective on NOI's handicap WRT to her role as a Minister of Finance. I believe she can't solve nothing until we make deep and structural political changes. That I sympathized with the position she placed herself in does not mean I agree with her decision to take a job she cannot do. She's an economist trying to solve a problem that requires a much more political solution. Yes, She's out of her depth, but I can sympathize with her still. No?

The bolded part is more reason why she needs to stop throwing words around. We as Nigerians need to stop celebrating mediocrity. If an individual is employed and PAID to perform a peculiar task - if that individual fails to deliver - the best thing he/she needs to do is resign - rather than lay blame somewhere else.

I believe Okonjo-Iweala is our de-facto PM, and she can effect some changes within the FG, if she wanted - but she won't do it. They all want to maintain the status-quo - at the expense of Nigerians. She acts like a saint, but she's PART of the problem - all of them are UTTERLY CORRUPT. And like they say - birds of a feather flock together.

Kobojunkie: I wonder how many people on here have actually stated that Iweala is expected to SOLVE ALL the problems. ** hands on chin** ** wondering***

By the way, we did hire her to solve problems, not continue the typical wolf cries!!

Tropilo:

Pls, remove ur hands from ur chin and stop wondering.
Some of us come here and call the "poor" woman names. What's that for? She came to help her father-land and it has turned to a curse. Someone has already hit d nail correctly about d problem being political and not economics. Point blank, our constitution is a fraud! How can it say a minister must be appointed from each state? For Heaven's sake there are some states u can even find a good primary school teacher yet d president is mandated to appoint a whole policy maker (minister) from there. GOD forbid!

Technically, what she has done to date is not solve ANY PROBLEMS but simply cry wolf!!! You claim she came to help her father-land, OK. So, what help have we gotten from her to date? I mean apart from repeating the all too obvious, how has she helped improve the situation with our finances.

Again, crying wolf is NOT HELPING!! The Federal Government remains the biggest problem we have as a Nation. We don't need more wolf cries and honestly, I don't blame people for being mad at her for continuing to sell them the same old nonsense many of them are all too sick of. Enough of the cries . . we need action, not more yapping!

Since you seem to know so much of her mission here, tell her that people are not impressed and that she should get to work already . . . she needs to, at this point, start helping her father-land, not selling us stale news.

Beaf:

When did the FG yank the power to raise revenue from any state or LG? The only states that applies to are the oil producing states.

There is no excuse for the rot we find our states and LG's in. It is an absolute disgrace that they cannot think beyond splitting money from Abuja into their personal accounts; you and I are to blame for this, not the FG. Reason? We blame the FG and dole out chieftancy titles instead of burning down the homes of the bastar'ds that are supposed to represent us, but steal our money and kids futures instead.

Beaf:

When did the FG yank the power to raise revenue from any state or LG? The only states that applies to are the oil producing states.

There is no excuse for the rot we find our states and LG's in. It is an absolute disgrace that they cannot think beyond splitting money from Abuja into their personal accounts; you and I are to blame for this, not the FG. Reason? We blame the FG and dole out chieftancy titles instead of burning down the homes of the bastar'ds that are supposed to represent us, but steal our money and kids futures instead.

I did not say the States and LGs are performing wonders. They are equally culpable.

Are you saying the fault lies solely with the States and LGs? One would think that with PDP's overwhelming majority at federal level, effecting necessary changes to bring about judicious use of scarce resources shouldn't be a Herculean task. Why have these needed reforms in our fiscal system remained little more than pious hopes despite the fact that we know that fiscal rascality remains a cog in the wheel of progress of the polity? The PDP has enjoyed its overwhelming majority at federal level for more than a decade now
I would like to have your own take on this, Beaf.

Brixtonyute:

The bolded part is more reason why she needs to stop throwing words around. We as Nigerians need to stop celebrating mediocrity. If an individual is employed and PAID to perform a peculiar task - if that individual fails to deliver - the best thing he/she needs to do is resign - rather than lay blame somewhere else.

I believe Okonjo-Iweala is our de-facto PM, and she can effect some changes within the FG, if she wanted - but she won't do it. They all want to maintain the status-quo - at the expense of Nigerians. She acts like a saint, but she's PART of the problem - all of them are UTTERLY CORRUPT. And like they say - birds of a feather flock together.

Yes, You are very right.

I'm not certain she has the power and influence to effect the kind of changes we need on a fundamental level though. In this Government, she is a hand hired to serve at their pleasure. Sad but true. Resignation is always an option. She took it once, maybe she'll take it again.

Ola one:
I did not say the States and LGs are performing wonders. They are equally culpable.

Are you saying the fault lies solely with the States and LGs? One would think that with PDP's overwhelming majority at federal level, effecting necessary changes to bring about judicious use of scarce resources shouldn't be a Herculean task. Why have these needed reforms in our fiscal system remained little more than pious hopes despite the fact that we know that fiscal rascality remains a cog in the wheel of progress of the polity? The PDP has enjoyed its overwhelming majority at federal level for more than a decade now
I would like to have your own take on this, Beaf.

Sincerely speaking, I don't see how the FG can be held responsible for our everyday problems. Yes, we can argue that the structure of the nation is wrong and has birthed a vicious cycle of corruption feeding on chaos, but the greater proportion of the blame goes to those who are closest to the grassroots - LG's and states. The electorate also, for shirking knowledge of why they vote.

If we hope that a vote for fiscal federalism will ever be passed by the NASS without pressure from the street, then thats a hope too far. The reason is simply that we have absolved them off any responsibility to lay blame on the FG instead. That unfortunate state of affairs has freed our govs, LG chairmen, legislators and senators off any accountability to we, the electorate. We have left them free to act as they please, afterall money will flow Abuja regardless of if the work for the willingly subservient masses or not; so why bother to work?

What did we elect them for if they do not represent us?
That is a fundamental question we should be asking ourselves.

. . . night, Beaf

Brixtonyute:

Why are you so dumb? How has she translated her "profile" into making life better for the average Nigerian? Are Nigerians going to feed on her qualification? Some Nigerians have the same IQs as baboons; it seems some of you guys failed to evolve into full humans.

i guess you are dumber!. I appreciated her human quality and not her qualification, speaking in real sense, how many women of her calibre and worth can you find today in nigeria? I gues a few. I'm not in to trade hot words with you and do learn to respects peoples opinion.

Emylexray:
i guess you are dumber!. I appreciated her human quality and not her qualification, speaking in real sense, how many women of her calibre and worth can you find today in nigeria? I gues a few. I'm not in to trade hot words with you and do learn to respects peoples opinion.

Of what relevance is that to this issue, or this thread? what does it matter what she has under her skirt when all that should concern you, and every Nigerian out there in this is the announcement she made here, and the fact that she is supervisor over ministers who are themselves wasting our money?

Emylexray:
i guess you are dumber!. I appreciated her human quality and not her qualification, speaking in real sense, how many women of her calibre and worth can you find today in nigeria? I gues a few. I'm not in to trade hot words with you and do learn to respects peoples opinion.

And what does that have in correlation with the topic at hand?? What's your IQ again?

manny4life:

How do you mean the FG spending nearly 75% of our budget? When the budget was released it's budget, where did you see 75% of it budget spent on itself?

I doubt you even read the who article, that is the point she's been trying to make apparently you're not seeing it. When the Senate was spending money, did you call your Congressman or Congresswoman to agitate their spending? You think the president has Statutory Authority to reverse NASS spending? For cyring out loud, she's only a finance minister and can ONLY control what's within her jurisdiction, if GEJ is serious, let him have a budget standoff with NASS, with the support of the people, he will get there.

As of the recent budget, that 1 billion naira food was reversed or should I say removed.

2011 Budget Proposal: $27.6bn

Ministries: $12bn
Other government bodies: $350m
Parliament: $707m
Pensions and gratuities: $1bn
Transfers to statuary bodies: $1.3bn
Debt payments: $3.5bn
Other expenses: $2.6bn
TOTAL RUNNING COSTS: $21bn
CAPITAL EXPENDITURE: $6.5bn



The president's proposal for this year's national budget, which is currently before parliament, shows that nearly 75% of the $27.6bn (£17bn) would be spent on running government and its agencies.

Only $6.5bn is proposed for spending on capital projects, such as investment in vital infrastructure.http://www.bbc.co.uk/news/world-africa-12251208


When you spend all your money on less than 5% of the population and leave 95% for the rest of the population, what do you have? Lousy or non existing federal infrastructure, poor maintenance of existing infrastructures like MMA and others across Nigeria, still lousy power situation, bad roads, not enough roads, poor health care system, poor education system and many many more sorry federal presence.


That woman really need to STFU and quit trying to fool us with here deceptive ogboju moves.

Thans, Eko Ile.

How come our debt repayment is $3.5bn? How much do we owe - or are we paying off the whole thing again??

This woman and her voodoo economics needs to go away, for real. A paltry $6.5billion on capital expenditure - and $12bn on ministries - yet she's complaining about governors?? SHE IS CRAZY!!!

manny4life:


Forgive me Mr. SMART, perhaps you're the one making sense...

When I tell you I'm certainly done with this showcase of stupidity, believe me, I'm so done with it.

Below is the "REVISED COPY" of the 2012 BUDGET PROPOSAL FOR THE OFFICE OF THE PRESIDENCY.

http://www.budgetoffice.gov.ng/2012_budget_pro_details/1.%20Summary_Presidency1.pdf

If you find anyone with your 1billion food as you claim, post it....



Now prove yours that it actually exist... Apparently, it's your turn to prove "the only budget anyone has ever seen was the one that has the N1BILLION/MEALS included in it)"

well the budget shows that ~N900 million was allocated for food stuff, refreshment etc. for Presidency & VP. A grotesque amount to feed 2 families and entertain their guests. Go through each line item in the link you provided

Even with revisions this budget reeks of gluttony; a classic trait of GEJ & his henchmen. And only N12 million on books! No wonder they spew garbage anytime they speak

Eko Ile:


2011 Budget Proposal: $27.6bn

Ministries: $12bn
Other government bodies: $350m
Parliament: $707m
Pensions and gratuities: $1bn
Transfers to statuary bodies: $1.3bn
Debt payments: $3.5bn
Other expenses: $2.6bn
TOTAL RUNNING COSTS: $21bn
CAPITAL EXPENDITURE: $6.5bn



The president's proposal for this year's national budget, which is currently before parliament, shows that nearly 75% of the $27.6bn (£17bn) would be spent on running government and its agencies.

Only $6.5bn is proposed for spending on capital projects, such as investment in vital infrastructure.http://www.bbc.co.uk/news/world-africa-12251208


When you spend all your money on less than 5% of the population and leave 95% for the rest of the population, what do you have? Lousy or non existing federal infrastructure, poor maintenance of existing infrastructures like MMA and others across Nigeria, still lousy power situation, bad roads, not enough roads, poor health care system, poor education system and many many more sorry federal presence.


That woman really need to STFU and quit trying to fool us with here deceptive ogboju moves.

This is so incorrect man, where do you get these figures from? Nearly 75% of the whole budget will be spent on running the government and its agencies? Really? Man, you have wrong news. Like I've stated several times here, here is the breakdown of the 2012 budget proposal.

A. Capital Expense ===> 1,319 ---27.77%

B. Recurrent (non-debt) expense ===> 2,472 ---52.05%

C. Statutory Transfers ===> 398 ---8.38%

D. Debt Servicing ===> 560 ---11.79%.


I mean, not everyone is satisfied with the proposal, if you look at my responses in the thread about the budget, I was asking for more cut to recurrent expense s well as stats tranfers and increase in capital expense, but it does not negate the fact that the woman is trying her best and doing what she can. She save three % points from last years recurrent expense which translates into billion and increase capital expense by double digits this year. We might not like the results, but it's a gradual step... baby steps.

occam:

well the budget shows that ~N900 million was allocated for food stuff, refreshment etc. for Presidency & VP. A grotesque amount to feed 2 families and entertain their guests. Go through each line item in the link you provided

Even with revisions this budget reeks of gluttony; a classic trait of GEJ & his henchmen. And only N12 million on books! No wonder they spew garbage anytime they speak

Brother, on what page of this link did you see this figure? Can you be more specific? The only "Meals and Refreshment" I saw in the part of the VP was for 20,802,221. This is located on Pg 5 of 44,1st line item under the miscellaneous column.

manny4life:

This is so incorrect man, where do you get these figures from? Nearly 75% of the whole budget will be spent on running the government and its agencies? Really? Man, you have wrong news. Like I've stated several times here, here is the breakdown of the 2012 budget proposal.

A. Capital Expense ===> 1,319 ---27.77%

B. Recurrent (non-debt) expense ===> 2,472 ---52.05%

C. Statutory Transfers ===> 398 ---8.38%

D. Debt Servicing ===> 560 ---11.79%.


I mean, not everyone is satisfied with the proposal, if you look at my responses in the thread about the budget, I was asking for more cut to recurrent expense s well as stats tranfers and increase in capital expense, but it does not negate the fact that the woman is trying her best and doing what she can. She save three % points from last years recurrent expense which translates into billion and increase capital expense by double digits this year. We might not like the results, but it's a gradual step... baby steps.

I;m not interested in your boju boju trash...

According to a breakdown of the 2012 budget, the sum of N400.15 billion, representing 8.43 per cent of the budget has been allocated to education. Out of this, N345.091bn (82%) was allotted to recurrent expenditure while a meager N55.056bn (18%) is for capital expenditure.


http://allafrica.com/stories/201204120668.html

hercules07: @manny

No wahala, I know you mean well but you are defending people who do not have any plans for this country, they are interested in passing the buck, if NOI worked in my industry, she will be sacked by now.

I am not defending anyone, a lot of you guys misunderstood my stance from the very beginning and assumed wrongly I was defending her, so guess what, I went with the flow. Like I've often said, I often side with her opinions, while few times I don't like the fuel subsidy shenanigans. I was very critical about how she and DAM including SLS handled the whole fuel subsidy including the payout.

I only agreed with her comments, Nigeria needs true federalist structure FIRST so that governors can STOP heading to Abuja for every single revenue earned by Oil sale. I also sided with her opinion that Nigeria needs to save as well, I love to save and invest (now you see why I share her opinion) but as same time, I have to be prudent in spending. For the mere fact she's trying to proffer solutions to fix our savings problems, I think she earns the mark for saying something.

Eko Ile:


I;m not interested in your boju boju trash...

According to a breakdown of the 2012 budget, the sum of N400.15 billion, representing 8.43 per cent of the budget has been allocated to education. Out of this, N345.091bn (82%) was allotted to recurrent expenditure while a meager N55.056bn (18%) is for capital expenditure.


http://allafrica.com/stories/201204120668.html

You want me to be interested in your comments, while you're not interested in mine, guess we reached an impasse, peace man.. You can further your campaign and keep insulting her, GOOD LUCK TO YOU... Peace dude

manny4life:


I am not defending anyone, a lot of you guys misunderstood my stance from the very beginning and assumed wrongly I was defending her, so guess what, I went with the flow. Like I've often said, I often side with her opinions, while few times I don't like the fuel subsidy shenanigans. I was very critical about how she and DAM including SLS handled the whole fuel subsidy including the payout.

I only agreed with her comments, Nigeria needs true federalist structure FIRST so that governors can STOP heading to Abuja for every single revenue earned by Oil sale. I also sided with her opinion that Nigeria needs to save as well, I love to save and invest ( why I share her opinion) but as same time, I have to be prudent in spending. For the mere fact she's trying to proffer solutions to fix our savings problems, I think she earns the mark for saying something.

Why is she talking to us about true federalism? What about talking to her own boss and their government with all the tools and power to really do something about it if they really care.?

Bottom line, they consume more than half of the country's wealth so why point finger at other people? What about her own government?

manny4life:


Brother, on what page of this link did you see this figure? Can you be more specific? The only "Meals and Refreshment" I saw in the part of the VP was for 20,802,221. This is located on Pg 5 of 44,1st line item under the miscellaneous column.

State House
Pg 1 - foodstuff/catering materials N476 million under materials & supply

Pg 3 - Refreshment & Meals N293 million

VP
Foodstuff/catering material N104 million

Refreshment & meals N20 million

This manny4life or loser4life bores me! mtswwww... Ndo

Bla bla bla...big grammar every day, sympathy speech but the poor man on the road sees no difference. I don tire, everybody face your front.

i have been on Nairaland for some time and I know you do not like SLS so its normal for you to go against his policies, if the federal structure is put in place, the FG will earn far less than it is earning from the states now, also if the FG is particular about savings, why not save say 10% from its 58% share in the revenue accruing to the country, that way, they still have 48% for whatever they need to do.

very good.i have been praying to God not to allow this woman to become the world bank president just because she kept closed eyes over the level of corruption in nigeria.
as a minister of finance, one will expect her to know the movements of funds in the country including all the loots.
now that she has decided to be vocal, she should go ahead and tell nigerians how her former boss(obasanjo) looted nigeria and how her present boss(badluck goodluck) is destroying the federation's accounts.
pdp are criminals and for this woman to be working peacefully with these criminals, it means she is a member of the gang.
let her open up if she is not involved.

Can't Mr President send a True federalism bill to the NASS and also lobby to make sure its passed by both the NASS and State houses of Assembly? Mr President has enormous powers to make it happen under 3months if he wants. However, I'm beginning to doubt Mr President's intentions concerning this True Federalism.

As for NOI, i believe that she's trying her best considering that this is Nigeria. No system works here. Even if we make Alan greenspan,Bernanke,Gordon brown,etc Finance ministers there impacts would still not be felt by ordinary Nigerians.

Wereh kpe: Abegi.

Like say we no kno these things since? Its almost d same thing she has been saying since.

And what has she done about it? NOTHING!

She has done PLENTY about it as a Minister who is not elected by the people - reporting to the people so they can put pressure on their elected REPRESENTATIVES at the various tiers i.e. federal, state and local.

Btw, Wereh kpe do you know the names of your LG councillor, state and federal legislators including senators
Do you know their constituency offices and telephone contacts
Have you written a petition to them e.g on clearing public common spaces instead of restricting your movement the last Saturday of each month for environmental

Hello all,
I have a lot of respect for the minister but here I think she’s directing the blame at the wrong group.
Leadership works best by example. A political party rules the country; controls the national assembly and the governors forum
Most of these governors are also from a loyal base of the present government and entitled to derivation %.
What motivating policy of the government has been sold to the house and the governors to make them agree to save money?
The present government is spending like no man’s business and expects the governors to do what?
Apart from 1-2 minister’s who else is performing in spite of the huge budgetary allocation; yet you expect my state governor (Ekiti) to agree with you to save some money he knows would vanish when the next election period comes? Capital No!.
So I am not surprised they have adopted the ‘if it can fall/crash let it fall approach’ – which is an interpretation of the minister’s comments here.
The present government should call itself to order; develop a workable plan to move forward that would require savings as a condition for success and sell it to the Nigerian public, let’s see who would not back it up. Blaming the govs for not allowing only you to exercise the right to squander is not good enough.
Thank you

Brixtonyute:

And what does that have in correlation with the topic at hand?? What's your IQ again?

none of your business! if you hate her, don't allow it drain your sense of rightful reasoning.
I don't want to insult you, so face your other debaters. Some of you guys that think you're intelligent lack simple courtesy.

Kobojunkie:

Of what relevance is that to this issue, or this thread? what does it matter what she has under her skirt when all that should concern you, and every Nigerian out there in this is the announcement she made here, and the fact that she is supervisor over ministers who are themselves wasting our money?

give credits to whom it is due.