bring it on!

George_D: bring it on!

LOL. That's the real deal dude.

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D-Explorer:




I've never seen you so clueless and dumb, are you out of the polity? Dude, you don't need to hide under people's comment to express your shallow-mind. Ok. The subject is "GEJ Sued Over Fiscal Responsibility Act, Rising Debts". Lets have some quality discussions and that will bring you back on track. Cheers!

Go and sit down somewhere. This your attention seeking antics carries no weight with me. You would have to be reasonably bright to engage in "quality discussion". As such, for obvious reasons, I can't waste my time with you. You should carry on talking to your fellow 'local champion' laptop crew because they are the only one who will indulge in the asinine talk you produce here daily and pretentiously wrap in the toga of "articulated" ( ) submissions.

Those who are genuinely well-exposed and intelligent , with a decent grasp of fiscal practices of Governance that matches minimally acceptable standards worldwide, will know it is inane for anyone, given all that has been seen, to associate Jonathan with fiscal responsibility or even moderately sound economic management. An example is how Nigeria, drastically and desperately, needed to reduce the cost and size of Governance yet the first thing your vacuous messiah did was to capitulate to waste and profligacy by announcing that "leaner Government not possible" !!!!! Till today, it is still not possible and the huge and wasteful cost of running a bloated, unwieldy and extremely poor-value democracy continues unabated/unchecked !!!

This man runs the nation haphazardly and with no appreciation at all of the laws of fiscal 'cause and effect' or the need for responsive solution to urgent and potentially destructive challenges. Rich Nation Britain faces economic hardship. The direct response is a raft of cost-cutting measures with even the PM flying on commercial Airplanes. Nigeria, a very poor Nation, is serially and universally condemned for it's hideous and ruinous democracy which is relatively the most expensive in the world with recurrent expenditure running nauseatingly at over 70%. Yet the only response of our President is to maintain the waste and even add to it via buying Airplanes, with old ones still very usable, and creating superfluous offices. His highly irresponsible and complicit slackness , without any shred of doubt, created the subsidy scam saga that has now taken Nigeria to a very dark place fiscally !!! Under this President it is one corruption scandal after another. Meanwhile money is spent copiously with nothing tangible as commensurate result. Accounts depleted everywhere in the run up to what is probably the most covertly expensive and nationally costly election win in perhaps the history of the World !!! I could go on all day !!!

Guy, you and others are jokers and a waste of time. That is why I toy with all of you these days. Not a single one of you is bright or honest enough to actually engage in "quality discussions" if we are to use tried, tested, fiscally sound and non-negetiable methods successful Nations are run with. It is only those who don't know what obtains beyond the bastardized example of Nationhood Nigeria has become that will remain here indulging ridiculously dishonest sycophants like you. You mo.rons , to begin with, cannot be taken seriously because of the rudimentary error you make of talking as if some of us don't have sane examples of Governance to base our observations on.

D-Explorer:

Dude, i use words the way i want it to be used. Your lack of opinion shouldn't make you clueless to that extent of picking my lines esp when it not on the matter at hand. You and that ACN addict gbawe did that and it was obvious you both can't hit the topic with me when i said BRING IT ON. Don't forget, when a man has strong weapons in his vaults, he could call for war.


I've never seen you so clueless and dumb, are you out of the polity? Dude, you don't need to hide under people's comment to express your shallow-mind. Ok. The subject is "GEJ Sued Over Fiscal Responsibility Act, Rising Debts". Lets have some quality discussions and that will bring you back on track. Cheers!

It is clear that you are only an expert at bad manners and rudeness.

I have pointed out how the domestic debt profile of the country has increased by at least N1.2 trillion naira within one year of President Jonathan's government without an impact on the lives of Nigerians. What have you said to this?

Given the current domestic financial and economic environments, is this the way a prudent government should be spending? Answer this.

The domestic environment indicates rising poverty, unemployment, declining growth and rising inflation. Is this the time for the government to be financially undiscplined or spend like a drunken sailor? What is your take on this?

Indeed, what is wrong with the action of the lawyers by going to court? What have you said on this so far apart from personal attacks?

I do not see anything GOOD in Goodluck, he is nervous, no confidence such character cannot lead a state like Nigeria of people with smart ideas who mostly channel them to crook ways. Everything he has done before the election is graft in cash and kind, even if a madman comes to pledge his loyalty, he will surely go with "egunje" Nigeria has been customized with corrupt practises and the mentality has been passed to the unborn, you are infected so am I. Most Nigerians do not know how to live a normal life without cutting corners; something must surely come besides salary, let me tell you, the root of all our problem in Nigeria is corruption. Corruption encourages laziness, lackadaisical attitude to work because the mind is set to have a reward at the end of a duty, legal or illegal.

There is no way things can work like this. If we can wrestle the society from the grip of this syndrome called corruption. PHCN will work, Refineries will work smoothly and importation of petroleum products will cease, credible candidates will emerge after elections, unemployment will reduce, those companies closing down will flourish; they die because their board members are corrupt and so on,

How do we achieve this? We need a BETTER THIEF because a day healing is not enough for a madman, there will still be exhibition of some traits sometimes. Mr. Fashola and Buhari/Bakare are good examples. They have administrative skills and discipline respectively. GEJ and his wife;Dame have sometimes been linked to EFCC harrassement, the reason they still walk around tall is the goodluck syndrome, we all know the story. The society is being characterised with corruption as a normal way of life and it is this society that produces the expected leader however starting like this will help us until we get to people that can lead and have zero tolerance for corruption.

Mr. Goodluck does not have these qualities and the antidote to the corruption's venom, he does not have(clueless). If BB were voted in, I am sure by now many of our flamboyant politicians including GEJ would have sought for asylum in another country, that is when you can see how the real EFCC can bite. I see him as the first Nigeria president ever that is not pragmatic, he always sees it the way he sees others seeing it. Mr. President should act like a man with authority.

Nevertheless, Nigerians have decided to put themselves in SELF SLAVERY for another 4 years. Logically, I do not see why the GEJ of a man is voted in; a man who depleted the inherited foreign reserves his predecessor has built over the years within the few months the baton of presidency was passed to him. I heard a gallon of kerosene now sells for N1,500. What is the hope of a common man. Where is our value. I want Nigeria to boil, some of these leaders have to go. Corruption has to be tamed now, I say now or else Nigeria is doomed. Please leave me with my opinion in case it does not align with yours, another 4 years is ahead of us, after that I can take your insults. My prophesy is live on transmission please do not dial/tune the channel, more are to coming your way. GEJ lovers U never see anything. Under the supervision of this man, they will milk Nigeria dry. That was after the election. Lets leave GEJ lovers I am sure some of them have not managed 3 people before.

Bereft of sound arguments, they have all fled and absconded: the cowardly, the ignorant, and the clueless.

They only know how to litter threads with insults and pollute posts with obscene words and statements. Tell them to address the issue of GEJ and fiscal responsibility and they will abuse, insult and divert your attention.

They are an eloquent testimony of part of what is wrong with the country: mediocrity, erosion of values/suppression of conscience, and celebration of filthy lucre.

A certain fellow that was proudly selling MTN cheats and boastfully making a living from 'free browsing' is now a paid agent and mercenary. What do you expect other than the continuation of his swindling skills: fraud, manipulation and sleaze.

I pity these crooks, con artists and artful dodgers; but I pity Nigeria more.

Pukkah: Bereft of sound arguments, they have all fled and absconded: the cowardly, the ignorant, and the clueless.

They only know how to litter threads with insults and pollute posts with obscene words and statements. Tell them to address the issue of GEJ and fiscal responsibility and they will abuse, insult and divert your attention.

They are an eloquent testimony of part of what is wrong with the country: mediocrity, erosion of values/suppression of conscience, and celebration of filthy lucre.

A certain fellow that was proudly selling MTN cheats and boastfully making a living from 'free browsing' is now a paid agent and mercenary. What do you expect other than the continuation of his swindling skills: fraud, manipulation and sleaze.

I pity these crooks, con artists and artful dodgers; but I pity Nigeria more.

Despite all this long grammar and name calling, you have not actually shown how the FGN is in breach of the Fiscal Responsibility Act 2007. All you did was post a news article. You also guilty of that which you accuse your traducers of.

aletheia:
Despite all this long grammar and name calling, you have not actually shown how the FGN is in breach of the Fiscal Responsibility Act 2007. All you did was post a news article. You also guilty of that which you accuse your traducers of.

The answer to the question you have asked is so self-evident especially if you read the thread from the beginning. For example, what is the debt limit for the various tiers of government?

Pukkah:

The answer to the question you have asked is so self-evident especially if you read the thread from the beginning. For example, what is the debt limit for the various tiers of government?

Show me where that is stated on this thread. Certainly not in the article you posted, neither in the back and forth name-calling and pissing contest that has largely characterised this thread. It is almost certain that you have not taken the time to actually read the Fiscal Responsibility Act 2007, otherwise you wouldn't be getting too excited by a little grandstanding by some lawyers whose court challenge is going no where.

You will be probably be surprised to find that the Medium term Fiscal Framework portion of the Act grants enormous leeway to the FGN in terms of debt, and the language is worded in such a way as to allow the FGN to determine the debt limit as it sees fit.

Any constructive engagement on your part would be better served by you having acquainted yourself with the Act. Otherwise the quality of your contribution on this thread has been poor. My first post on this thread has an attached copy of the Act. I suggest you read it first then come back for a discussion. Until then. . .

aletheia:

Show me where that is stated on this thread. Certainly not in the article you posted, neither in the back and forth name-calling and pissing contest that has largely characterised this thread. It is almost certain that you have not taken the time to actually read the Fiscal Responsibility Act 2007, otherwise you wouldn't be getting too excited by a little grandstanding by some lawyers whose court challenge is going no where.

You will be probably be surprised to find that the Medium term Fiscal Framework portion of the Act grants enormous leeway to the FGN in terms of debt, and the language is worded in such a way as to allow the FGN to determine the debt limit as it sees fit.

Any constructive engagement on your part would be better served by you having acquainted yourself with the Act. Otherwise the quality of your contribution on this thread has been poor. My first post on this thread has an attached copy of the Act. I suggest you read it first then come back for a discussion. Until then. . .

If you claim not to see the question in the very first post then there is no point continuing with you.

Meanwhile, once again, I have ignored your choice of language.

^

aletheia:
Any constructive engagement on your part would be better served by you having acquainted yourself with the Act. Otherwise the quality of your contribution on this thread has been poor. My first post on this thread has an attached copy of the Act. I suggest you read it first then come back for a discussion. Until then. . .

Mrhod: Let us rise up n say no 2 bad policy, let all Nigerians use every legal means 2 let dis man no dat us are not fools, pastor, muslem lets join hand n build a betta future, we are not in d militery era, dis man has no respect 4 law, mayb he dont gv a demn about d law, what has he use d moni 4, mayb 4 his travelin, hostin. I wounda hw we will couninue with dis man 4 anoder 3yrs, God abeg help us o oga no shoe wan kil us.

Jimmy Boy: It seems you have to harrass GEJ to do his job befoe you can get any result from him.

Abi oo!!!

aletheia:

Show me where that is stated on this thread. Certainly not in the article you posted, neither in the back and forth name-calling and pissing contest that has largely characterised this thread. It is almost certain that you have not taken the time to actually read the Fiscal Responsibility Act 2007, otherwise you wouldn't be getting too excited by a little grandstanding by some lawyers whose court challenge is going no where.

You will be probably be surprised to find that the Medium term Fiscal Framework portion of the Act grants enormous leeway to the FGN in terms of debt, and the language is worded in such a way as to allow the FGN to determine the debt limit as it sees fit.

Any constructive engagement on your part would be better served by you having acquainted yourself with the Act. Otherwise the quality of your contribution on this thread has been poor. My first post on this thread has an attached copy of the Act. I suggest you read it first then come back for a discussion. Until then. . .

See the excerpts of the article I posted asking for the debt limits:

Pukkah: Five Abuja-based lawyers on Tuesday dragged President Goodluck Jonathan before an Abuja Federal High Court over what they described as his failure to set a limit for consolidated debt of the federal, state and local governments, in line with the Fiscal Responsibility Act.

The lawyers, Aja Nwani Aja, Lawrence Ogbonna Ukpai, Kingsley Osaigbovo Obue, Adaobi Chioma Peace, Best Owie and Abdulmumuni Mohammed Tahir, listed the President Federal Republic of Nigeria as the defendant in the suit.

The plaintiffs averred that by virtue of Section 42 (1) of the Fiscal Responsibility Act, 2007 and pursuant to the provisions of item 7 and 50 of part 1 of the 2nd Schedule to the Constitution, the President is mandated to within 90 days from May 29, 2011, set overall limits for the amounts of consolidated debts for the three tiers of government.

In addition, the Act gives the FG the leeway to determine the debt limit (as posted by you) as follows:

12. Aggregate expenditure ceiling
The estimates of:
1. Aggregate expenditure and the aggregate amount appropriated by the
National Assembly for each financial year shall not be more than the
estimated aggregate revenue plus a deficit, not exceeding three per cent of
the estimated Gross Domestic Product or any sustainable percentage as may
be determined by the national Assembly for each financial year.
2. Aggregate expenditure for the financial tear may exceed the ceiling imposed
by the provisions of subsection (1) of this section, if in the opinion of the
president there is a clear and present threat to national security or
sovereignty of the Federal Republic of Nigeria.


From the part in red, are you saying it's impossible for the FG to determine the debt limits? First of all, you should ignore the sub-section 2 because there is no clear and present danger to national security or sovereignty.

Having done that, are you of the opinion that it's impossible to determine the "Aggregate expenditure and the aggregate amount appropriated by the National Assembly for each financial year" which "shall not be more than the estimated aggregate revenue" plus a maximum of 3% of the estimated GDP? Or "any sustainable percentage as may be determined by the National Assembly for each financial year"? Does it not smack of over-indulgence of the government or even laziness or complacency to simply refuse to do the needful because a 'leeway' exists?

The question is simple: has the President done his part, whether there is a leeway or not?

Those lawyers were not the first to call the attention of the President to the con-compliance of the Fiscal Responsibility Act. In March this year, the House of Reps had called on President Jonathan to implement Section 42(1) of the Act.

See excerpts below:

http://dailytimes.com.ng/article/reps-warn-jonathan-over-rising-debt

The House of Representatives has given President Goodluck Jonathan 60 days to implement the Fiscal Responsibility Act, which makes provisions for a national debt ceiling amid concerns over rising foreign debt.

The House, on Tuesday, accused the president of flouting the Act, passed in 2007, by engaging in borrowings without recourse to the required provisions.

Nigeria’s debt profile has grown since 2010 after the country managed to exit the Paris club debt in 2004. Jonathan has been largely blamed for the increasing profile after repeatedly asking lawmakers to approve borrowings.

The Debt Management Office says by December 31, 2011, national external debt stood at US$ 5.7 billion; and a recent request by the president for $8 billion in four years raises the amount to $14 billion.

An approval for the new debt, expected from both chambers in weeks as past requests hardly faced serious opposition, will require an adjustment to the 2012 budget.

At past meetings, Finance Minister, Ngozi Okonjo-Iweala, has notified the lawmakers that to fully implement the budget, sourcing of funds from outside will be inevitable, but assured such loans will be done at a “manageable level”.

The House made the resolution upon a motion moved by the Minority Leader, Femi Gbajabiamila, saying the federal government has failed to implement the Act and accusing the president of embarking on a spending spree.

“The non-implementation of section 42 of the Fiscal Responsibility Act 2007 is capable of encouraging imprudence and recklessness in government borrowings and improper utilisation of borrowed funds to the detriment of our economic growth,” said Gbajabiamila.

Another lawmaker, Garba Shehu, accused the executive of engaging in recklessness, recommending that the National Assembly must invoke the appropriate law to call the executive to order.

The law has not been implemented since it was passed in 2007, despite several attempts by the National Assembly to compel the executive.

The new resolution obtained unanimously, however, did not state any measure against the president if he fails to act this time.

In planning for the 2013 budget, the Minister of Finance said that 'the budget christened “Fiscal consolidation with growth” will see fiscal deficit coming down to about 2.17 per cent of Gross Domestic Product, which is well below the three per cent recommended in fiscal responsibility'.

http://www.punchng.com/business/business-economy/fec-okays-n4-9tn-for-2013-budget/

So how is it a problem for the President to determine debt limits for the federal and state governments, and send to the National Assembly?

Where are the supposed "loop-holes large enough to drive a lorry through" in the Fiscal Responsibility Act?

As the Federal Government seeks to borrow $300million (N47billion) from the ADB and the DMO (Debt Management Office) says Nigeria's debts will rise to N8.8trillion by 2015, what's the update on this court case?


https://www.nairaland.com/1313698/nigeria-borrow-n47billion-adb-african


http://www.vanguardngr.com/2013/06/nigerias-debts-ll-rise-to-n8-8trn-by-2015-dmo/