It is sad to see people trying to interpret the constitution with sentiments.
Na wa.

true talk



excess crude account is the biggest fraud in the history of mankind.
the total budget of nigeria is 4.3 trillion naira,the questions people are not asking are:

1.the firs boasted last 2 year that they currently collected 4.62trn naira and hope to increase it to 5trn naira in the comming years..www.punchng.com/business/business-economy/fg-made-n4-62tn-from-taxes-in-2011-firs/

2.the nigerian dont produce much,the implecation in the we are ''importation dependent nation'',the positive information there is that the custom makes a huge amount of money which is also put back in the government purse...about 900bn naira..http://www.vanguardngr.com/2013/03/customs-2012-revenue-boosted-by-n90bn-underpayments-abdullahi/

3.oil;this is undoubtably the bigest source of our income,it account for more than 80 percent of our total revenue http://www.thisdaylive.com/articles/protecting-nigeria-s-revenue-through-crude-oil-hedging/120055/

doing the maths,if 20% is 6trn naira,80 =24.meaning that the actual ammount nigeria makes from crude annually is close to 24trn naira.now 24+6=30trn naira.

common sense should tell us that our budget is about 30trn naira and not 4.sumtin trn.






how can only firs revenue be equated to our entire budget?

Ngwakwe:

Dr Ngozi Okonjo Iweala has been functioning as de facto Prime Minister and nothing surprising about that.

She's been functioning as accessory to public fund looting!

We do not have a Prime Minister in our constitution, so find another lofty title please.

I don't know why people are creating mountain out of molehill. What is wrong for the minister to present the budget to the National Assembly? We just like chasing shadows as people and forget to deal with the real issue at hand which is GEJ TILL 2019.

yorke1: I don't know why people are creating mountain out of molehill. What is wrong for the minister to present the budget to the National Assembly? We just like chasing shadows as people and forget to deal with the real issue at hand which is GEJ TILL 2019.

Because there is an ordered way of doing things and when you skip that order you introduce disorder which may not immediately be apparent but is sure to eventually cascade down and affect other processes downstream.

This can be seen as a precedent. Future administrations could take the liberty to bring a minister of interior to deliver the budget.

Keneking: Anyway my verdict:

1. In November 2013, he wanted to present the budget proposal to both chambers, but they had not reconciled and agreed on a benchmark for crude oil.

2. Now that they have agreed to $77.50 per barrel benchmark for crude oil, he is indisposed. Maybe on annual vacation or Christmas break, hence you can not fault him.

Hmm. If only we had someone who was constitutionally empowered to act for the president when he is unavoidably absent. SOmeone called, perhaps, a Vice President?

Oh, we have a Vice President? So why isn't HE the one presenting the budget?

Symphony007: tired of talking.

http://www.csmonitor.com/USA/Politics/2012/0214/No-budget-No-problem!-The-strange-politics-behind-a-budgetless-America

You of all people tired of talking? Lol... I was right after all, the difference between you and I is that you look around via Google, I on the other hand was affected by the shutdown. I have TONS of agency emails explaining why the govt shutdown, I saw the protest from downtown to other places, different media interview, what media people write CAN NEVER take the place of actual experience... I rest my case... NO MORE TALKING.

texazzpete:

Hmm. If only we had someone who was constitutionally empowered to act for the president when he is unavoidably absent. SOmeone called, perhaps, a Vice President?

Oh, we have a Vice President? So why isn't HE the one presenting the budget?

In line of succession, Senate President if the VP is likewise unavailable.

So is Mark going to be in attendance and watch his power usurped? We shall see how well these people understand the order and process of democracy.

manny4life:

You of all people tired of talking? Lol... I was right after all, the difference between you and I is that you look around via Google, I on the other hand was affected by the shutdown. I have TONS of agency emails explaining why the govt shutdown, I saw the protest from downtown to other places, different media interview, what media people write CAN NEVER take the place of actual experience... I rest my case... NO MORE TALKING.

amazing how you have abandoned substance. Our arguement here is of the u.s can go years without budget and i just proved it. You're here talking about how the shutdown affected you. Well i also saw the protest at the white house fence,world war 2 memorial,etc..but that's not out issue. Or is it?

Symphony007: amazing how you have abandoned substance. Our arguement here is of the u.s can go years without budget and i just proved it. You're here talking about how the shutdown affected you. Well i also saw the protest at the white house fence,world war 2 memorial,etc..but that's not out issue. Or is it?

I just proved to you that without a budget, the U.S. Govt cannot function, IT IS THE LAW. I cited the Oct 1st as an example, there was NO BUDGET, and Congress was NOT willing to pass a spending authority, till after shutdown... If there was an authority in place prior to Sept 30th, FG won't shutdown (FACT), if there was a budget passed, the FG won't shutdown (FACT), so please, spare me the falsehood about the FG operating for years without a budget. That's very incorrect. The budget debate going on now in Congress is there for a reason, if it isn't resolved by Jan 15th, the govt will shutdown AGAIN (FACT).

Afam4eva:
We need to technocratize our presidential system.

TECNO WOT? "WE DONT NEED TECNO HERE"

Symphony007: Why would the president send a minister to present the national budget and address a joint session of the national assembly? Not even the vice president. That's rather insulting and unprecedented. I suggest and senate president and speaker refuse such a request. If the two topmost men in the nation are two busy to do this which is outright impossible. Then they should just send the budget with a letter. A joint session of the national assembly cannot meet to be addressed by a minister.

Politics must not be injected into everything.

abeg who be naija vice president? Is he a ghost?

Pukkah:

According to Section 81 of the Constitution of the Federal Republic of Nigeria, 1999, “the President shall cause to be prepared and laid before each House of the National Assembly at any time in each financial year estimates of the revenues and expenditure of the Federation for the next following financial year”.

Do you have something else to say to this?

According to what's quoted above, the President is not required to present the budget in person. All he's required to do is to delegate someone or himself to prepare and present the budget to each house of the National Assembly. He could have even sent "my oga at the top" to do the presentation and the requirement above would have been met.

However, is sending Okonjo-Iweala the smart thing to do considering the state of the nation and what's customary? Maybe.

When the opposition has become very aggressive and insulting to the President, then they should be made irrelevant.
Minister of State should have sufficed.

We've lost every decorum and decency in this country.

Afam4eva: Even though Ngozi Okonjo Iweala is the defacto prime minister of Nigeria, the President should have sent his vice, Namadi Sambo or is his vice also unavailable.

its becos Ngozi Okonjo Iweala and goodluck be lovers. Lol

Afam4eva:
I'm not an insider, so i wouldn't know. The long and short of the story is that the finance minister have a bigger portfolio than other minissters.

Make these guys dash you school fees Western education is free so don't blame them

Perhaps @Afam4eva was very sophisticated in his response to your simple question. Nigeria wants to be compared with the US, UK, Canada and the rest of EU. The president is not for IJAW, PDP or other interest groups. He is Mr. Nigeria. It is demeaning for Jonathan to read the budgetary provisions, which is normally done in the EU, including the UK by their respective ministers for Finance. He or she will have all the figures, and will answer cogent questions on the wherewithal of the provisions. This leaves the president out of the partisan element of this vital constitutional requirement. This is a step in the right direction. 'Coordinating Minister for the Economy' is an executive appellation from Jonathan which he is allowed to confer to improve efficiency and productivity. She is not being paid as the CME, etc. For a good measure, neither NL nor APC is in the constitution. If Jonathan has done anything wrong, NASS will have raised one or two issues along the lines. Cheers.

Pukkah:

1. A new nomenclature or title was created for her. That title is 'Coordinating Minister for the Economy'.
2. The new title is not supported by the Constitution.
3. On the basis of the new title, some people including yourself have described her as the 'defacto Prime Minister'. A few have even describe her as the 'defacto Vice President' or 'alpha and omega' of the Jonathan administration.
4. She's supposed to 'oversee' some Ministries but which Ministers are being overseen? Is doing more than she did during her first coming as Finance Minister?

Do all these portray President Jonathan in a good light?

manny4life:

I just proved to you that without a budget, the U.S. Govt cannot function, IT IS THE LAW. I cited the Oct 1st as an example, there was NO BUDGET, and Congress was NOT willing to pass a spending authority, till after shutdown... If there was an authority in place prior to Sept 30th, FG won't shutdown (FACT), if there was a budget passed, the FG won't shutdown (FACT), so please, spare me the falsehood about the FG operating for years without a budget. That's very incorrect. The budget debate going on now in Congress is there for a reason, if it isn't resolved by Jan 15th, the govt will shutdown AGAIN (FACT).

You, call me now and Afam are trying for themoo. This confirms to me that I have been arguing with children that have not passed primary 3 level of education. They may need some years to understand what you people have written

My president z running.......I wonder how much feeding will cost this time! In case you don't know, Zara Rice Nah 200k for one cup so don't be surprised.

manny4life:

I just proved to you that without a budget, the U.S. Govt cannot function, IT IS THE LAW. I cited the Oct 1st as an example, there was NO BUDGET, and Congress was NOT willing to pass a spending authority, till after shutdown... If there was an authority in place prior to Sept 30th, FG won't shutdown (FACT), if there was a budget passed, the FG won't shutdown (FACT), so please, spare me the falsehood about the FG operating for years without a budget. That's very incorrect. The budget debate going on now in Congress is there for a reason, if it isn't resolved by Jan 15th, the govt will shutdown AGAIN (FACT).

this arguement is going no where as you have choosen to dwell in your echo chamber. You don't know what a budget is apparently that is why you could'nt understand the story i posted which clearly states that the u.s congress has'n passed a budget in 3 years. It has'nt passed a detailed document outlining revenue and expenditure in 3 years. It's only currently that paul ryan and patty murray have come up with a budget that is about passing the senate. If there has been such a budget please post a link to like the congressional budget office,u.s treasury,etc...

biafranqueen: You, call me now and Afam are trying for themoo. This confirms to me that I have been arguing with children that have not passed primary 3 level of education. They may need some years to understand what you people have written

what is this one saying?

Symphony007: this arguement is going no where as you have choosen to dwell in your echo chamber. You don't know what a budget is apparently that is why you could'nt understand the story i posted which clearly states that the u.s congress has'n passed a budget in 3 years. It has'nt passed a detailed document outlining revenue and expenditure in 3 years. It's only currently that paul ryan and patty murray have come up with a budget that is about passing the senate. If there has been such a budget please post a link to like the congressional budget office,u.s treasury,etc...

Having read this, I realized that I wasted my good ole time arguing with you. For you to say "there hasn't been any detailed document outlining revenue and expenditure proves further that I've been wasting my time, obviously you're just a new kid on the block who has no idea on what a budget is and what the U.S. Budget Office does and the process involved. As you rightly put it, there's no need arguing with you, I'm done. My advice is STOP SPREADING FALSEHOOD.

The tone and thrust of your comment denote lack of essential knowledge about the workings of the US. The President of Nigeria is only required constitutionally to present a budget and commend it to the NASS for approval/assent. The NASS are required to scrutinise the budget through their standing committees before assenting to it by a vote of the entire NASS. You are factually wrong to suggest in your timidity that US has not passed any budget in the preceding three years. I am quite happy to provide the following links for your perusal and progressive research on the US budgets, on the basis that you will come back here and denounce ignorance and foot in the mouth syndrome:

http://en.wikipedia.org/wiki/2010_United_States_federal_budget for 2010

http://en.wikipedia.org/wiki/2011_United_States_federal_budget for 2011

http://en.wikipedia.org/wiki/2012_United_States_federal_budget for 2012

http://en.wikipedia.org/wiki/2013_United_States_federal_budget for 2013

Symphony007: this arguement is going no where as you have choosen to dwell in your echo chamber. You don't know what a budget is apparently that is why you could'nt understand the story i posted which clearly states that the u.s congress has'n passed a budget in 3 years. It has'nt passed a detailed document outlining revenue and expenditure in 3 years. It's only currently that paul ryan and patty murray have come up with a budget that is about passing the senate. If there has been such a budget please post a link to like the congressional budget office,u.s treasury,etc...

manny4life:

Having read this, I realized that I wasted my good ole time arguing with you. For you to say "there hasn't been any detailed document outlining revenue and expenditure proves further that I've been wasting my time, obviously you're just a new kid on the block who has no idea on what a budget is and what the U.S. Budget Office does and the process involved. As you rightly put it, there's no need arguing with you, I'm done. My advice is STOP SPREADING FALSEHOOD.

i seem to have mistook senate democrats not passing a budget in 3 years to the united states not passing a budget in 3 years. I apologise for the mix up and apprecaite your clearification.

Afam4eva:
But don't you think we should be leaning towards having the likes of Okonjo Iweala as the substantive president because they understand the issues. It seems to me that the way our system is structured, the president is very similar to a ceremonial one with little understanding of how the economy functions. We need to technocratize our presidential system.

The likes of Okonjo are people surrounding Jonathan and we are not impressed by their Brentwood economic policies. They are plunging us into poverty, handing our economy over to few people, create nesting ground for corruption and make US to remain underdeveloped but glorified as developing. Ask Argentina??9

The Vice-President is an Architect by profession and not economically sound to make such submissions.

Just thinking aloud...

AK 48: true talk



excess crude account is the biggest fraud in the history of mankind.
the total budget of nigeria is 4.3 trillion naira,the questions people are not asking are:

1.the firs boasted last 2 year that they currently collected 4.62trn naira and hope to increase it to 5trn naira in the comming years..www.punchng.com/business/business-economy/fg-made-n4-62tn-from-taxes-in-2011-firs/

2.the nigerian dont produce much,the implecation in the we are ''importation dependent nation'',the positive information there is that the custom makes a huge amount of money which is also put back in the government purse...about 900bn naira..http://www.vanguardngr.com/2013/03/customs-2012-revenue-boosted-by-n90bn-underpayments-abdullahi/

3.oil;this is undoubtably the bigest source of our income,it account for more than 80 percent of our total revenue http://www.thisdaylive.com/articles/protecting-nigeria-s-revenue-through-crude-oil-hedging/120055/

doing the maths,if 20% is 6trn naira,80 =24.meaning that the actual ammount nigeria makes from crude annually is close to 24trn naira.now 24+6=30trn naira.

common sense should tell us that our budget is about 30trn naira and not 4.sumtin trn.






how can only firs revenue be equated to our entire budget?

Sir, I'm no economist but I might have an answer to your question.

4.3 trillion is Fg's budget.. to be funded from the 50% she gets monthly from the federation Account..

the rest is shared between state and local governments using a formula..

then the rest goes to the excess crude account and the sovereign wealth fund..

my opinion tho.. I might be wrong.. someone please throw more light on this.. Oga Manny? Tarhaqa?

Hope our leades didn't forget that U.S and other contries have predicted Nigeria's disintegration by 2015.

@AK48: Only 60% of the oil revenue goes to the federation account. The rest goes to the multinational oil companies, who are joint-venture partners with the NNPC.

obayaya:

Sir, I'm no economist but I might have an answer to your question.

4.3 trillion is Fg's budget.. to be funded from the 50% she gets monthly from the federation Account..

the rest is shared between state and local governments using a formula..

then the rest goes to the excess crude account and the sovereign wealth fund..

my opinion tho.. I might be wrong.. someone please throw more light on this.. Oga Manny? Tarhaqa?

CFCfan: @AK48: Only 60% of the oil revenue goes to the federation account. The rest goes to the multinational oil companies, who are joint-venture partners with the NNPC.

@AK48,

There you go, these are your good answers, although some of the numbers you quoted are absolutely WRONG.

For instance 80% accounting for our revenues is wrong o, rather 80% accounts for our FOREX which has declined since we're gradually exporting some agricultural products. Thanks for the new terminals opening after completion, Nigeria may well position herself to compete in the agricultural export business.

Symphony007: this arguement is going no where as you have choosen to dwell in your echo chamber. You don't know what a budget is apparently that is why you could'nt understand the story i posted which clearly states that the u.s congress has'n passed a budget in 3 years. It has'nt passed a detailed document outlining revenue and expenditure in 3 years. It's only currently that paul ryan and patty murray have come up with a budget that is about passing the senate. If there has been such a budget please post a link to like the congressional budget office,u.s treasury,etc...

What?!!!
Please go to sleep.
I seriously think you are intoxicated.
Did you read your post before pressing the submit button?!!

Nwadays i must review Nigerian Constitutn...imagine!