p3ndy79:


You need go back to the psychiatric hospital you escaped from.

Is your brains on lockdown? Is the post you qouted about benchmark or the continuous error of judgement in forecasting a particular amount for crude oil pricing.

Take your time to read the post then see how stupid and da.ft you sound..

Olodo


Where you in space when she insisted on lower benchmark but Tambuwal insisted on a benchmark of $80


Will she force her will on a person like Tambuwal and the assembly members.


Think before you post.


If you give her full powers , she will insist on $50 benchmark but unfortunately for her it is the ASSEMBLY members that deliberate on the budget

Um! I just dey read comment.. P3ndy79,tit,pendy79 and co I salute oo but make una no fight sha.

The writer of this article is so maligned that he actually based his entire assessment of NOI on a budget benchmark, which of course was even contested by National Assembly as being too high.

This pull-down-syndrome is the reason most people cant succeed in their personal lives yet are always ready to see the faults in others. The oil price crises is affecting every player in the world, none of them will hound down their finance ministers because they understand the core reason this occurs, but our half baked mentality commentators are the very reasons I do not watch Nigeria TV channels, so much egotistic ignorance out there. Only in this country will a fool magnify his ignorance with pride.

So disgusting.

Billyonaire:
The writer of this article is so maligned that he actually based his entire assessment of NOI on a budget benchmark, which of course was even contested by National Assembly as being too high.

This pull-down-syndrome is the reason most people cant succeed in their personal lives yet are always ready to see the faults in others. The oil price crises is affecting every player in the world, none of them will hound down their finance ministers because they understand the core reason this occurs, but our half baked mentality commentators are the very reasons I do not watch Nigeria TV channels, so much egotistic ignorance out there. Only in this country will a fool magnify his ignorance with pride.

So disgusting.

You missed the point. Is it excusable for a finance minister and the coordinating minister of economy not to be able to see ahead of the so called "half baked commentators"? It's no news there is global energy crisis (which was predicted by many including Nigerians anyway) but it smacks of incompetence for the minister to be clueless on what should be a realistic oil benchmark for the budget.

WhiteTechnology:



she insisted on lower benchmark but Tambuwal insisted on a benchmark of $80

Will she force her will on a person like Tambuwal and the assembly members.

If you give her full powers , she will insist on $50 benchmark but unfortunately for her it is the ASSEMBLY members that deliberate on the budget

You obviously have been quite observant, it was indeed the National Assembly members that always insisted on a higher oil benchmark. But, it wasn't entirely for a selfish aim, they were trying to checkmate the Governors. The logic is this, whenever we use a low benchmark, a lot money accrues to the ECA, which ordinarily should be a very good thing, but unfortunately for us, whenever we have a lot of money in the Excess Crude Account, the Governors and their Accountant Generals will setup camp in Abuja to harass the Federal Government to share it amongst all the states and the FCT.

The sad part of this development, is that any money shared from the ECA is extra budgetary (awoof), hence the recipients usually do with it as they please. Ironically, the NASS members who claim to be defending the public purse, have consistently failed in their oversight of the budget thereby rendering useless whatever, 'good' intentions they claim to have.

That said, I must say there is enough blame to go round; NOI has also failed in some of her duties. For instance, how many times, have the Auditor General's report been acted on? If you pick up the AG's report you will see a lot of lapses in the execution of the preceeding year's budget, yet the Ministry of Finance carries on as if nothing happened. What of the MDAS that are known to generate one form of revenue or the other, how much of it are they remitting back to the Federation account? Rather, they just spend it all and turn to the FGN (Father Christmas) to dole out money to them as usual.

Secondly, I also think she needs to take a closer look at the questionable template the budget office uses to arrive at recurrent expenditures for MDAs, because, that is what is ballooning our recurrent expenditure profile.

since1914:



You obviously have been quite observant, it was indeed the National Assembly members that always insisted on a higher oil benchmark. But, it wasn't entirely for a selfish aim, they were trying to checkmate the Governors. The logic is this, whenever we use a low benchmark, a lot money accrues to the ECA, which ordinarily should be a very good thing, but unfortunately for us, whenever we have a lot of money in the Excess Crude Account, the Governors and their Accountant Generals will setup camp in Abuja to harass the Federal Government to share it amongst all the states and the FCT.

The sad part of this development, is that any money shared from the ECA is extra budgetary (awoof), hence the recipients usually do with it as they please. Ironically, the NASS members who claim to be defending the public purse, have consistently failed in their oversight of the budget thereby rendering useless whatever, 'good' intentions they claim to have.

That said, I must say there is enough blame to go round; NOI has also failed in some of her duties. For instance, how many times, have the Auditor General's report been acted on? If you pick up the AG's report you will see a lot of lapses in the execution of the preceeding year's budget. Secondly, I also think she needs to take a closer look at the template the budget office uses to arrive at recurrent expenditures for MDAs. Because, that is what is ballooning our recurrent expenditure.

Gbam

Perfect.

ProfCorruption:


You missed the point. Is it excusable for a finance minister and the coordinating minister of economy not to be able to see ahead of the so called "half baked commentators"? It's no news there is global energy crisis (which was predicted by many including Nigerians anyway) but it smacks of incompetence for the minister to be clueless on what should be a realistic oil benchmark for the budget.

The word clueless has been overused. Do you really know the meaning of clueless ?

pendy79:
Can the government tell Nigerians where the unprecedented oil earnings in 5years went to?

The Governors Forum lamenting about shortfall in Allocation to states yet no fall in price of crude then all FG said was oil theft and bunkering is affecting output, yet Tompolo's Global west is earning 5.6billion monthly monitoring the water ways , Asari Dokubo too is collecting pipeline security contract N building University in Benin republic with his own share. Yet oil theft and bunkering has never been this massive until GEJ. imagine the Nigerian Navy earning the close to 8billion naira this two ex militants monthly and what the Navy would have achieved.

Sovereign wealth fund has just $1bn investment since last year we have no heard return on investment on it till date,

If the money is not in our road network, in power generation anD distribution, in increase salaries for civil servants, in bigger revenue sharing formulae to the states AMD local governments, in the foreign reserves, in the sovereign wealth fund she established, in industrial and rapid urbanization of the country etc, pls where is the monies that accrued to the Federation if our economy could be this jolted in just few weeks of oil price slump.

Naira didn't rise when crude oil was selling for 166$/barrel but crashed by more 30% in just 2months of oil slump . Forget the N168 to 1$ mentioned by the CBN governor he is just hallucinating, 1$ is trading as high as 191N as at yesterday .

Where did the monies go?

"so many questions and yet no answers"....that summarises the level of corruption that has bedeviled dis country for that last 5 yrs or so. Yet many nigerians are blinded by religion or ethnicity or simply preferred to look the other way because of their affiliations. I always feel touched talking abt nigeria...we are so blessed yet we r so poor. Our generation is clearly no better but pple like u give me hope of a better nigeria...if most youth are asking the right questions, we will get there faster

#betternigeria

golddeejay:
"so many questions and yet no answers"....that summarises the level of corruption that has bedeviled dis country for that last 5 yrs or so. Yet many nigerians are blinded by religion or ethnicity or simply preferred to look the other way because of their affiliations. I always feel touched talking abt nigeria...we are so blessed yet we r so poor. Our generation is clearly no better but pple like u give me hope of a better nigeria...if most youth are asking the right questions, we will get there faster

#betternigeria

I pray bro, reading comments and posting by pro PDP goons on this forum scares the living daylight outta me.

People celebrating and seeing nothing wrong in daylight robbery of their tomorrow and commonwealth and even insulting and trying to bully anyone who.does not share such crazy opinion with them.

All that matter to them is nepotism, ethnic and religious bigotry. Scared for Nigeria and its people.

Even mexico, sauDi arabia and this southamerican country that is escaping me now had to revise therir budget, russia is about doin same and I heared it is going to wipe more than half of his sovering wealth fund of over $425 billion. Madam did no wrong in fact she is still the best besides saudi arabia in handaling this crisis.

tit:


when your governor cannot pay you lasma goons the little stipend he drops for you,
ask him what he did with your state's share of the oil boom.

Nigerian governors decided to share everything that was in the federation account and resisted every advice to keep more reserves and trim down costs.
After emptying the federation accounts, the foolish governors still did not create a rainy day fund for their states!
Egged on by pot-bellied, lootocratic beaurucrats, they spent all the money on phantom and white elephant projects like Fayemi's 50-million-dollar bed!
Now there is less money in the federation account, they should not cry wolf to anybody.
they can only stare at fayemi's 50-million-dollar bed and governor ajimobi daughter 3-million-dollar dress!

don't blame. the governors they have little control over the economy and mind u fayemi. did not by a bed. worth 50mil dollars. correct the lie

tit:

look at her!
she is beautiful!
ajimobi daughter!
wearing $3-million-dollar dress!
oyo people's money!

God why!!! why!!! why did you allow these corrupt, chest-beating, inept and clueless apes to ruin our collective inheritance? It is quite unfortunate that Igbos have finally ruined Nigeria. Over 30 years of Northern presidency is far better than this 6 years of Jonathan. Sad!!!

FolarinToks:


God why!!! why!!! why did you allow these corrupt, chest-beating, inept and clueless apes to ruin our collective inheritance? It is quite unfortunate that Igbos have finally ruined Nigeria. Over 30 years of Northern presidency is far better than this 6 years of Jonathan. Sad!!!

so ajimobi is igbo?
no wonder!
this people are criminal
see as he shop oyo people money anyhow.
he dont care.
it is good teefnubu prevent igbo from winning lagos.

FolarinToks:


God why!!! why!!! why did you allow these corrupt, chest-beating, inept and clueless apes to ruin our collective inheritance?

so niger delta oil is your collective inheritance?
haba!
are you ok at all at all?

tit:



so ajimobi is igbo?
no wonder!
this people are criminal
see as he shop oyo people money anyhow.
he dont care.
it is good teefnubu prevent igbo from winning lagos.

Go and fix your south east that is in shambles...................

FolarinToks:



Go and fix your south east that is in shambles...................

if you look ajimobi pretty daughter with 3-million-dollar-red-dress, you will fill better:

Rexxie:


it irritates me everytime i quote u..u stink alot,u and ur rants stink alot..but like i said earlier,ur leprous arsse gets free only till it quits blowing da trumpet n till i say.
Bloody piimp..

lmao what a nutcase... You're obviously a psycho with a disturbed childhood. why don't you slip into something more comfortable like a coma?

Jaideyone:
lmao what a nutcase... You're obviously a psycho with a disturbed childhood. why don't you slip into something more comfortable like a coma?

ahhahaha...like ur brains on hibernation,huh? Lil' wonder ur arsse been very busy on da trumpets...
Jobless piimp..

Rexxie:

ahhahaha...like ur brains on hibernation,huh? Lil' wonder ur arsse been very busy on da trumpets...
Jobless piimp..

phuck off my mentions freak

Jaideyone:
phuck off my mentions freak

whistling_arsse on da damm spotlite; stuppid piimp...

She eventually went back again to review her own benchmark. Lol at the professor of the economy of nigeria.

since1914:



You obviously have been quite observant, it was indeed the National Assembly members that always insisted on a higher oil benchmark. But, it wasn't entirely for a selfish aim, they were trying to checkmate the Governors. The logic is this, whenever we use a low benchmark, a lot money accrues to the ECA, which ordinarily should be a very good thing, but unfortunately for us, whenever we have a lot of money in the Excess Crude Account, the Governors and their Accountant Generals will setup camp in Abuja to harass the Federal Government to share it amongst all the states and the FCT.

The sad part of this development, is that any money shared from the ECA is extra budgetary (awoof), hence the recipients usually do with it as they please. Ironically, the NASS members who claim to be defending the public purse, have consistently failed in their oversight of the budget thereby rendering useless whatever, 'good' intentions they claim to have.

That said, I must say there is enough blame to go round; NOI has also failed in some of her duties. For instance, how many times, have the Auditor General's report been acted on? If you pick up the AG's report you will see a lot of lapses in the execution of the preceeding year's budget, yet the Ministry of Finance carries on as if nothing happened. What of the MDAS that are known to generate one form of revenue or the other, how much of it are they remitting back to the Federation account? Rather, they just spend it all and turn to the FGN (Father Christmas) to dole out money to them as usual.

Secondly, I also think she needs to take a closer look at the questionable template the budget office uses to arrive at recurrent expenditures for MDAs, because, that is what is ballooning our recurrent expenditure profile.

The Federal Government has no right to withhold the allocations of the states, the FG is not superior to the states, the constitution is clear about these things, the extra accrued should be shared in the ratio of 52/48 stipulated, the FG can decide to put all of its 52% in its own ECA while the states can decide to spend it on what they wish as long as it is legal, for the FG to unilaterally decide to withhold the funds is unlawful and illegal. The FG can encourage the states to setup ECAs for the rainy day, it has no right to forcefully do this. Can we ask NOI where the 52% of the FG is, if the states did not save their 48% what happened to the FG's share? NOI is nothing but a charlatan, someone who has not been able to balance the budget in how many years, where recurrent is almost 70% of the total budget with incredible oil prices for almost four years. Trickle down economy is what will kill this country, the FG is the greatest parasite of all, just collecting rent and outsourcing most of the real functions to the states who earn less combined than the FG, we should move to a trickle up economy where the FG gets part of income tax, some level of company tax while states and LGs get income tax, company tax and a certain percentage of the income on natural resources within their domain.

hercules07:


The Federal Government has no right to withhold the allocations of the states, the FG is not superior to the states, the constitution is clear about these things, the extra accrued should be shared in the ratio of 52/48 stipulated, the FG can decide to put all of its 52% in its own ECA while the states can decide to spend it on what they wish as long as it is legal, for the FG to unilaterally decide to withhold the funds is unlawful and illegal. The FG can encourage the states to setup ECAs for the rainy day, it has no right to forcefully do this. Can we ask NOI where the 52% of the FG is, if the states did not save their 48% what happened to the FG's share? NOI is nothing but a charlatan, someone who has not been able to balance the budget in how many years, where recurrent is almost 70% of the total budget with incredible oil prices for almost four years. Trickle down economy is what will kill this country, the FG is the greatest parasite of all, just collecting rent and outsourcing most of the real functions to the states who earn less combined than the FG, we should move to a trickle up economy where the FG gets part of income tax, some level of company tax while states and LGs get income tax, company tax and a certain percentage of the income on natural resources within their domain.

You're so on point because event has now shown the ECA never had monies commensurate with the huge oil prices we had for over 5years . This simply means the government was stealing and spending the excess amount on the pricing.

Or how do one justify a paltry $3.1bn in 4years in the same account OBJ paidoff $12bn from with lesser oil price and lower crude production.

gtrust:
Ok

When Amaechi and his evil governors' forum were fighting Ngozi you didn't "predict"

When Ngozi was insisting on Excess Crude Account you didn't "predict"

When Ngozi was shouting for Sovereign Wealth Fund you didn't "predict"

When Ngozi was giving out incentive to people to go into Agriculture which today is booming you didn't "predict"

When Ngozi told everybody to expect "a time like this" years ago you had not starting "predicting"

Boring!!!!

when stealing and corruption were going on,u didn't know that d economy wil broke,when $20b were missing,when $10b she met in excess crude acc,reduce to $2b,when the saTANiod were stealing money for election,u didn't know.we warn they,they wil not hear.gej to prison.

But Okonjo Iweala kept warning us of a period like this, and it was during the subsidy removal controversy which the country was boiling over.

tit:


are you tinubu in disguise?
can you call your papa house useless?


take it easy,
we are all frustrated.
when i was a little girl,
Ras kimono sing song say:

under pressure, everybody, under pressure!
under pressure, Africans, under pressure
under pressure, Europeans, under pressure!
no food, ina we table!

and it has been so till this day!

and what cause it:corruption and lack of planning.