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Nairaland Forum / Nairaland / General / Politics / Nigeria’s N4.93tr Budget Under Threat (781 Views)
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Nigeria’s N4.93tr Budget Under Threat by koruji(m): 6:27pm On Apr 20, 2013 |
GEJ would have nobody to blame when the oil bubble bursts in a couple of years because his government has emptied the ECA account, without creating a reserve storage alternative. Even the sovereign wealth fund started with much hoopla does not contain much that can help. Federally shared revenue is already dwindling, and the price of oil may not be so high for much longer any more. It will become clear to all that GEJ has really done nothing to enhance the Nigerian economy, and is merely riding the wave of high oil prices. Instead of saving much of the extra money coming in like OBJ did, leaving more than $20 billion for Yar'adua/GEJ they now have only $7 billion - Mrs. Okonjo-Iwealla is suggesting they will need to spend it over the next couple of months to stabilize the budget !!! Another golden age, again fueled by oil, may have passed Nigeria by without any real progress in laying the basis for solid economic progress. ACN has being warning about this trend for a couple of months now. State governments are beginning to feel the pinch - even the state with the highest oil revenue, Akwa Ibom, borrowed 10s of billions of Naira recently, and seems to be seeking another N80 billion loan. The yellow light is on for Nigeria, but where is a pragmatic president who knows what he is doing to prevent a red light. http://sunnewsonline.com/new/national/nigerias-n4-93tr-budget-under-threat/ |
Re: Nigeria’s N4.93tr Budget Under Threat by bloggernaija: 1:17pm On Apr 21, 2013 |
I have been commenting about this for a long time.this government is worse than even the very bad gowon/IBB/shagari in terms of economic management. GEJ has expanded the size of government without a corresponding increase in the capacity of the economy .everyday, it is employment galore in the useless civil service further burdening the public purse with an unnecessary increase in recurrent expenditure . Despite the oil boom,the government is still borrowing money . At the rate this bastard is going, do not be surprised if our debt cube comes larger the $35 billion which obj paid off. Meanwhile,some idiots will come here and start talking about a glorified bus stop(airport) or warehouse (seaport). |
Re: Nigeria’s N4.93tr Budget Under Threat by Goddex: 1:44pm On Apr 21, 2013 |
Hypocrite Koruji!!!!!!! When your godfather, the big criminal himself, almighty Tinubu suggested to the economic team to discontinue savings in ECA and SWFund, and share all proceeds to tiers of government, you guys came out enmasse to support him. Again, when National Assembly increased oil benchmark from $75 proposed by FG to $79, most of you took side with Tambuwal forgetting that it is the difference in this benchmarks that is saved in ECA and SWF. What the economic team headed by Okonjo-Iweala foresaw over a year ago is what you are seeing now. For your information, members of that team are very intelligent chaps and are among the best this country can offer so keep calm. No need to panic. The Nigerian economy is strong. Ok? |
Re: Nigeria’s N4.93tr Budget Under Threat by koruji(m): 2:33pm On Apr 21, 2013 |
B4 talking out of your behind why don't you show the world my support for Tinubu on this statement. Unlike you people who's sole purpose in life seems to be promoting GEJ - even if his plan is to hack your limb for his dinner- I don't support people blindly. Disagree with Tinubu if you must but don't accuse me blindly. The Nigerian economy is strong is an illusion of petro-dollars. Just pray that oil prices remain high. Goddex: Hypocrite Koruji!!!!!!! |
Re: Nigeria’s N4.93tr Budget Under Threat by biafransoul: 2:47pm On Apr 21, 2013 |
koruji: B4 talking out of your behind why don't you show the world my support for Tinubu on this statement. Unlike you people who's sole purpose in life seems to be promoting GEJ - even if his plan is to hack your limb for his dinner- I don't support people blindly. Disagree with Tinubu if you must but don't accuse me blindly. what's this one yapping about? |
Re: Nigeria’s N4.93tr Budget Under Threat by hercules07: 3:01pm On Apr 21, 2013 |
Goddex: Hypocrite Koruji!!!!!!! What stops the FG from having ECA and SWF from its own 56% allocation? Must it also take from the SG and LG portions? |
Re: Nigeria’s N4.93tr Budget Under Threat by koruji(m): 9:33pm On Apr 21, 2013 |
Thank you for this observation. hercules07: |
Re: Nigeria’s N4.93tr Budget Under Threat by manny4life(m): 11:18pm On Apr 21, 2013 |
hercules07: In your infinite wisdom, when they take it from there, they will finance Nigerian budget from where? |
Re: Nigeria’s N4.93tr Budget Under Threat by Scarpon(m): 11:25pm On Apr 21, 2013 |
singing with 2face# e be like say them want to tell us another story again ohh 1 Like |
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