Nazeeboy:
all I have to say on that post is that the Op really tried in trying to point out the kind of money nigeria generate from our 2 major sources of income. The money generated from other sources when add altogether can't measure up to those two sources. But if you comapare the figures there put down by the OP with other money that is being looted in this administration that we received news of everyday, you will be wondering where the hell those kind of money is coming from? So what I believe is that there is more to Nigerian treasury that we seems to know about and only God knows. So instead of wishing failure for the incoming government based on our mere analyses here, we should put our differences aside for the interst of the nation and be hoping for the best from them and those to come after them.

Sorry bro, I want to sleep. The one bottle of Harp I took this evening is really making me tipsy.

So tomorrow morning, I'll properly respond to you. But mean while, use this opportunity to Google 'Nigeria's source of income/revenue'.

Tomorrow, we'll continue.

Then by the way, please, avoid CONSPIRACIES!

Cheers!

Nazeeboy post=32904495[b:
]all I have to say on that post is that the Op really tried in trying to point out the kind of money nigeria generate from our 2 major sources of income. The money generated from other sources when add altogether can't measure up to those two sources.[/b] But if you comapare the figures there put down by the OP with other money that is being looted in this administration that we received news of everyday, you will be wondering where the hell those kind of money is coming from? So what I believe is that there is more to Nigerian treasury that we seems to know about and only God knows. So instead of wishing failure for the incoming government based on our mere analyses here, we should put our differences aside for the interst of the nation and be hoping for the best from them and those to come after them.

OLODO, d OP 'didn't try' cos the OP was very wrong.

That's what we have been trying to say from the 1st page. Can't you read??

taharqa:


1st, that figure you gave is mostly crude lost due to productions shutdown, not actual theft (only around 60,000bpd is actually stolen). But even if we were able to bring all these 450,000bpd to full production, there is NO WAY I helll we would be able to get 'hundreds of billions of dollars' like you claimed, talk less of the FG making that kind of money. The whole of Nigeria( And u mean d FG, states, LGA, 13% derivation, Excess crude, etc) does not even get more than by $60-$80billion per annum from sales of the over 2million bpd crude that we currently make even at over $100pb talk less of these days that crude sell at less than $60 in the international market.

You were wrong, guy

I hope he admits and learns!

atlwireles:


[b]Cutting the cost of government means sacking thousands of civil servants, [/b]there is no two ways about that. Reducing fraudulent business acts, is best imagined in this country. We refuse to restructure, so we are paying the price for inefficiency. Any form of Tax increase MUST AND WILL BE VIGOROUS OPPOSED. You will not tax hard working regions to fund loads of lazy poor people. Increasing any form of tax must be done at the state level.

Let APC take the same revenue as is today and perform their miracle, they promised Nigeria before the election.

Cutting cost means saving billions we pay out in form of fraudulent estacodes and other official looting schemes. Governors, agency directors, ministers and even the presidency organizes jamborees for themselves and their personally hired cronies specifically to pocket estacodes. Many government officials make almost same like their official salaries in one year off estacodes alone.

Cutting cost means instead of flying to Abuja with tons of aids and collecting estacodes for officials engagements including security council meetings, let them do it via video conferencing.

All the ministries practically seek conferences to jamboree to every month just to loot and collect estacodes. Cut out unnecessary travelings to attend irrelvant conferences.

Cut out embassies in places like Mali budgeting for railway and boats that doesn't exist

Cut out foreign ministries budgeting millions for fuel and generators in countries where they have uninterrupted power supply.

Cut out ministries and SGF offices looting billions every year by replacing thousands of computers and overcharging for 2 dollar softwares. Computers shouldn't be replaced every year unless absolutely necessary..

Cut out re furnishing, rebuilding and reflowering VP's, speaker of the house's and the senate president's residence every year.

Cut out ministries and agencies hiring consultants/ cronies with billions just for the consultants to send the money back into their pockets to do everything instead of government officials within the ministry sitting on their assess doing nothing..

Hiring consultants is the new and most profitable looting scheme in Nigeria today.

This is why the government spends 90% of the yearly budget maintaining themselves while Nigerians scrambles for the remaining 10% that they still loot anyway.

This is the reason why they can not spend anything on any project or program to better the people, the money is just not there.

Nearly everything GEJ awarded was done with loans from china from billions of dollars to on kpangolo railway to repainting airport, power plant, $500 million abuja cctv toy scam and so on.

We still have subsidy scam, oil theft, revenue diversion, unaccounted fees collected by federal agencies and parastatals and so on..


No, they don't have to lay off any civil servant to save billions and even trillions....

trillville:


U just supported my point. The cost of not feeding the children today is the children becoming terrorist tomorrow.

No sir. I didn't.

My comment means that you work and earn your meal. There's no free food. Do you prefer to be given fish or be taught how to fish?

Truckpusher:
Op have no single idea of what she's talking about.

If you set her before a babalawo and a magician right now the babalawo and the magician would be stunned about her figures .

She is talking trash and I won't waste my energy and time educating janjawiids.

Let them find out the hard way.

U are a disgrace to your generation. so u knew nothing about this and u are criticising her analysis? Some one just said u should prove her wrong which u refused and u still have guts to type nonsense? Here is not made for drug dealers, yahoo boys plssss...

taharqa:


OLODO ×2

Must you call people what you call members of your household..? Unintelligent Internet nuisance...

kaboninc:


No sir. I didn't.

My comment means that you work and earn your meal. There's no free food. Do you prefer to be given fish or be taught how to fish?

how can that principle be applied in the case of CHILDREN being fed.....nawa oo

I

aresa:






Generated from taxes/IGR and not oil?


Why do you people argue blindly, ignorantly and deceptively?

I tire o........ .......this is why I pointed out in my only post on this thread that her analysis is based on two streams of income....external (oil revenue sale) and internal (internally generated revenues) but....d deluded Mr protection got on his high horse and said he would have to come down to her level meanwhile he was dead wrong.... she did not even factor in d proposed savings from subsidy removal, VAT, corrupt practices......n........saving from cuts in recurrent expenditure...... Etc....

barcanista:
This is how things work....

Nigeria Generates revenue from Oil export...

Nigeria PAY Oil companies their own share for Operational Cost (mind you Nigeria is even owing these people).


Na wa 4 you o

http://www.premiumtimesng.com/oilgas-reports/162709-nigeria-realises-n2-432-trillion-oil-revenue-january-april.html
The oil revenue receipts for April (2014), the report stated, constituted about 67.6 per cent of the total revenue of N922.1 billion realised during the month.

A breakdown of the total revenue for the month also included about N299.2 billion realised from revenues from non-oil sector sources.
...
Nigeria Customs regularly boasts of the sums they collect on imports, or have you not noticed? Rice, cars, oil industry equipment, everything...
We also have a small but growing export sector of both goods and services. We don't just sit down and sell oil. Tax revenues are also raised from local businesses trading locally or internationally.

#change

anonimi:


I notice that ALL your revenue projection is based on Niger Delta crude oil. Nothing from groundnut oil, palm oil, coconut oil or other agricultural and industrial revenue.

Why are we only about SHARING the wealth derived from only one part of the country

What the fvck is "Niger delta oil"? There's only NIGERIAN OIL. The oil or any other resources found anywhere within the boarders of Nigeria belong to the federal government of Nigeria and not the local community so just kindly quit that talk.

kaboninc:


No sir. I didn't.

My comment means that you work and earn your meal. There's no free food. Do you prefer to be given fish or be taught how to fish?

Sir, have you ever heard the economic term "externalities"? Please check out this link

http://beta.tutor2u.net/economics/reference/positive-externalities

doctokwus:
[b]You failed to add 2 other potential sources of revenue:
(1) A more rigorous tax policy.D new govt may borrow a leaf from d way Lagos state government tanked its revenue from tax alone. Conservatively when more income generating streams come on line and many tax dodging individuals and companies are brought on stream nationwide,that could add another N500b- N1t.
(2) When loopholes from customs at d ports, and land borders are plugged another conservative N500-N1t cud be brought on line annually.
There is also d proposal to increase VAT. Even if its increased from 5% presently to 7.5%,annual revenue could see another N1t jump.
So conservatively you are looking at N2trillion additional income from untapped sources.
[size=18pt]The social programs are doable.We should not also forgot that the 'a meal a day' school feeding policy would also create secondary employment opportunities:the food vendor contracted for each school or group of schools has to employ at least an assistant if not 2;he/she has to regularly go to the market to buy food ingredients,this increases d revenue of that seller,she has to transport her items to the school etc.These may look simplistic and menial in outlook but its these little streams of steady employment and income that gets economies moving because they create a chain.All these people also have to pay tax in one way or the other, no matter how little.[/size]
At the end of d day,d government may not even be spending as much as budgeted for d feeding policy and other social needs.
[size=20pt]Its only those who don't know GMB that can doubt d workability of his policies or his sincerity of purpose.Even if at d end of d day,some of these social programs are not fully implemented, GMB himself would come out to say why and believe me,his forthrightness on whatever issue,would douse any doubters, except those so used to being mischievous and still bearing a deep seated hate for having lost out in stealing and corrupting this nation under previous governments, particularly that of d monster that will handover May 28 or 29.[/size]
GMB needs prayers, support and belief in d Nigerian project he is about to undertake, not hateful,spiteful,mischievous writeups from those whose hearts and souls are as bile filled as that of d devil himself.[/b]

OGA WHENEVER YOU POST A COMMENT I GO SWEEPING MY MIND WITH IMAGINARY DETECTORS TO MAKE SURE NO ONE IS SNOOPING OR READING MY MIND!

YOU ARE A SUPER INTELLIGENT MAN!

DON'T MIND THAT F00L BARNISTA AND HIS TEAM OF SORE LOOSER! THAT KEEPS LAMENTING FOR THEIR LOSS AND KEEP WISHING THAT NIGERIA DOESN'T SUCCEED NOR RISE UP FROM THE PIT TOILET THAT HIS TOWNSMAN DROPPED THE NATION INTO.

ITS NOT YET MAY 29TH 2016 AT LEAST A YEAR FROM SWEARING IN - AND THEY ARE ALREADY PREDICTING WOES FOR THE COUNTRY! WHETHER THEY LIKE IT OR NOT, BUHARI WILL GIVE THIS COUNTRY THE BEST LEADERSHIP SINCE INDEPENDENCE!

THE SWEET THING IS, ANYONE THAT F00L BARNISTA IS AGAINST - ALWAYS COME OUT TOPS!

@OPS, NICE JOB! DON'T MIND THAT F00L TRYING HIS BEST TO DEMEAN YOU WHEN ITS OBVIOUS HE DOESN'T ADD UP TO 1/3RD OF YOUR INTELLIGENCE! I WANTED TO REPLY HIS POST BUT I CHANGED MY MIND AND DECIDED TO LEAVE HIM IN HIS IGNORANCE AND STUPIDITY CAUSE HE IS NOT WORTH THE ATTENTION - BESIDES, GMB IS NOT A MAN THAT WANTS YOU TO DEFEND HIS POLICIES LIKE JONYDAFTY - HE BELIEVES HIS GOOD WORKS WILL SPEAK FOR HIM.

BUHARI'S HATERS WILL BE TERRIBLY SHAMED AND DISGRACED BY HIS GOOD WORKS JUST ONE YEAR FROM NOW.

MuguliciousMUGU:
Nonsense

go school, you won't go... You can see how buhari certificateless brain is affecting yours.

Just as they say, show me your friend and i will tell you who you are.

I rest my case.

We are watching the miracles...

So if APC will do all this things for Nigeria to you its not good? When you want to write any exam you are telling me you will wish to fail? Or are you an enemy of the progress of the Nation please tell us so that we will clearly know your intention because people like you are ment to be in syria or iraq. Please watch what you say in public cos you're just making a fool of yourself and some coconut headed people liked it... MODs please some people are committing treason against Nigeria here on Nairaland.

J

Obiagelli:
Officially, Nigeria exports 2 million barrels of crude oil
daily. At the current price of 60 US dollars per barrel, that
translates into 120 million US dollars.

120 million x 365day = 43,800,000,000

43 billion dollars @ 60% ( rumoured sharing formula between Nigeria and oil companies)

That means Nigeria makes 25.8 billion dollars annually.

$25.8 billion x 200 naira = 5.1 trillion naira.


Nigeria's 2014 budget was N4.6 trillion meaning we still have about 0.5 trillion naira change.
www.channelstv.com/2014/04/09/nigerian-senate-passes-4-6-trillion-naira-2014-budget/


FEDERAL INLAND REVENUE

Nigeria generated N4.69tn Revenue in 2014

www.thisdaylive.com/articles/firs-generates-n4-69tn-revenue-in-2014/200484/

Adding N4.69 trillion (firs) + 5.1 trillion (crude oil) = 9.79 trillion.

If our budget was N4.6 trillion then we have a balance of 5.1 trillion naira that nobody accounts for.

Barcanista asked where we will find 1.8 trillion to take care of our most vulnerable citizens, this balance of 5.1 trillion will be taken away from the pockets of criminals and militants.




EDIT.


I forgot the FG gets 52% of total income, even at that we have a balance of 0.6 trillion naira which is sufficient for the first stage of the social programs.
The APC government has said one of its major income earners is the mining industry.

This plans with financial discipline is very much achievable.

Please note that my analysis is based our major source of income ( oil and taxes), i have not touched other income earnings.

You know Obiagelli I had wanted to do something like this to prove to barcanista that there are many source of income in Nigeria, but have so busy that I haven't gotten the time to do it. Thank you for proving to batcanista that we have always been reaped off by our leaders. Off to you barcanista, what do u have to say? Take into consideration that it just two department "petroleum and FIRS" we have to touch department like, banking sectors, customs, nollywood, exchange commission, real estate, agricultural sector, power, etc. Pls what do you have to say.

He doesn't need to fulfill all his promises...even Obama hasn't.We voted for change,and that's all we are asking for.I just don't get why some citizens wish failure upon this country and its president-elect...GOD Almighty has spoken.Let his will be done on earth,as it is in heaven.

olumide4christ:


True talk, Nazeeboy!! When I see all these enemies of progress on nairaland, I feel like weeping for Nigeria because some Nigerians dont want the country to move forward simply because their candidate lost.
I tell you - all the haters of Buhari on Nairaland will be disappointed if God uses Buhari to make things better in Nigeria and will rejoice if things don't go well under Buhari.

Why can't all Nigerians come together and be hopeful for a better Nigeria, irrespective of whoever is in power?? If Nigeria becomes better, it will favour us and our future generations. Some Nigerians only want Nigeria to progress under the leadership of their own candidate or brother or kinsman! SO DISAPPOINTING!

Don't mind the Id*iots. They are nothing but a sore losers. I can bet with my balls that majority of them are un employ, that's why they behave like sadist. To feed them self na wahala, dey come nairaland they form PDP members with empty pocket. Non of them benefited from their so call administration and will never benefit because no one knows them...

Did anyone notice that Obiagelli had to modify her original post? Please take a look again. She has realised her folly and instead of apologising, she only wrote the real thing at the bottom of the Original post.

Obiagelli you need to read on how things work. Obiagelli your edited post has given credence to my thread that Buhari's policy is Dead on Arrival.

Truckpusher anonimi lalasticlala firefire

Lol. What type of Papa Ajasco analysis is this?
The ignorance in this thread stinks!
The ignorance in Nigeria stinks more.

I'm outta here

OAM4J:




Bro am not talking of loss due to pipeline vandalisation but loss due to oil theft. The figure I gave is the estimate Madam Iweala gave.

the oil theft how does it happened?



seun one of ur MOD needs to go back to school *ASAP*

doctokwus:

Thank you.No one is saying some of d social programs ain't ambitious and that along d line,all may not be achieved as stated during d campaign stops, but for anyone to dismiss it outrightly or to believe that Nigeria cannot run a social welfare program for a fraction of our population is being callous,vindictive and mischievous.
We should not forget that fuel subsidy itself is a welfare program and d GEJ govt was spending at a point almost a trillion annually and this went into d pockets of elites with no trickle down benefit to the economy,yet Nigeria did not collapse.

This is the exact reason we do not need another social scheme that will eventually not really trickle down the pockets of those it was intended for.
How is the Subsidy scheme going on now? Unsustainable. Governments who practice that scheme are slowly taking it down.
I'm not arguing whether we can achieve this scheme or not, I'm only saying it'll be a waste of scare resources fending for those who are not really having any input to the economy of the country.
Teach me how to fish and don't give me fish. What the government needs to do is to make conducive environment for businesses and investments to thrive.

barcanista:
[s]Did anyone notice that Obiagelli had to modify her original post? Please take a look again. She has realised her folly and instead of apologising, she only wrote the real thing at the bottom of the Original post.

Obiagelli you need to read on how things work. Obiagelli your edited post has given credence to my thread that Buhari's policy is Dead on Arrival.

Truckpusher anonimi lalasticlala firefire[/s]

COME! DON'T YOU HAVE SHAME AT ALL??

WHAT KIND OF FAMILY ARE YOU FROM? YOU ARE SUCH A SAD, SAD, BEING!

MAY HELP COME YOU WAY REAL SOON BEFORE YOU SELF-DESTRUCT!

smh FOR YOUR PATHETIC SOUL!

chymystique:
Believe this crap @ your own peril ...
@ Op, You think revenues are generated in this COuntry by sitting in your house and doing mathematical calCulations disregarding many important Factors.... your analysis are unappliCable in real sense. At this state Nigeria is in right now and the debts accrued all these years, that social welfare package aint feasible for now thats if it will ever be implemented...

I pick interest in you because even if you are not making a superior arguement, you are still very much constructive enough.

"Rear characteristics of ladies-of-nowadays"

nwaanambra1:



COME! DON'T YOU HAVE SHAME AT ALL??

WHAT KIND OF FAMILY ARE YOU FROM? YOU ARE SUCH A SAD, SAD, BEING!

MAY HELP COME YOU WAY REAL SOON BEFORE YOU SELF-DESTRUCT!

smh FOR YOUR PATHETIC SOUL!

Who be dis sef?
mr WHO AR YOU BY THE WAY?
wakacomot here before i invoke section 419 on u

IbokUtoroh:








Who be dis sef?
mr WHO AR YOU BY THE WAY?
wakacomot here before i invoke section 419 on u

YOU JUST REVEALED YOUR OCCUPATION!

DON'T WORRY YOU WILL GET A DECENT JOB UNDER APC GOVT REAL SOON!

ONYE OSHI! AMUROBA!

taharqa:


OLODO, d OP 'didn't try' cos the OP was very wrong.

That's what we have been trying to say from the 1st page. Can't you read??

You are a shameless being. Your only contribution on this thread is insult and name calling. You keep calling people olodo but you gat nothing upstairs as well, counter her points like some reasonable tanoids have done instead of throwing insult like a cursed kid. Rubbish.

MuguliciousMUGU:
Nonsense

go school, you won't go... You can see how buhari certificateless brain is affecting yours.

Just as they say, show me your friend and i will tell you who you are.

I rest my case.

We are watching the miracles...

Correct her na,abi what are you saying sef?

Obiageli biko ekwuzina ozo oooo.

Lemme just show u a few things ..

1) Crude oil is 56 dollars per barrel now, not 60.

2) U don't just multiply daily exports by 365 days, basically it made u never calculate annual running costs of extracting crude oil from the ground. cost of salaries, explorations, Change, repair n servicing of all pipelines, depots, refineries, settling of communities etc.

please running cost of crude oil production is 50% of whatever is made from it.(u can investigate that)

Did u calculate pipe line vandalization n all forms of crude oil theft?

Did u calculate repayment of our debts which is about 67 billion dollars ?

Did u calculate the monies that will go into government savings

what makes u think the government does not spend but only receives?


And many many more I cant even remember.....


I can't even type all u need to know here, please read up oooo

If Buhari government is able to fight corruption to standstill,the revenue Nigeria will be generating annually may be times three of what you are saying.There will be more investments from international communities,remenber we have solid minerals in almost all states,agriculture is there as well and others.Nigeria will be great again,I believe .Do you believe as well?If you believe click like.

Take a course in basic economics, but u won't. Our annual budget is in the region of 4 trn and don't forget part of this budget is financed through borrowing. A budget of this amount makes useless the social programme of 5k to 25 million poorest families in the country. If u are good in elementary maths, u will find out that it will cost abt 25% of our budget to finance that program. Economically, it is not feasible, bearing in mind that recurrent expenidtures costs more than 60% of the same budget.
Am not surprised because you just like MyGeneral failed Economics at O' Level.
#Peace

Firefire:


My own interpretation of cutting the cost of governance is REDUCING the fraudulent pay to all Legislators both state and federal, they should earn the normal wages a civil servant earn for his duty per month and even less as we don't require them to sit every day.

On Taxes, Buhari cannot even munched the idea of tax increase at the moment until he is done addressing all cases of corruption, recovering enough money to run his deficit budget, sending the corrupted elements to jail and taken back all they have stolen.

We expect the wonder working power of APC with Mr. Buhari to begin immediately after May 29th.

Do u think the president has the sole power to reduce the salary of other politicians? Do u kno who detects salaries of every Nigerian including the president salary ?

Obiagelli:
Officially, Nigeria exports 2 million barrels of crude oil
daily. At the current price of 60 US dollars per barrel, that
translates into 120 million US dollars.

120 million x 365day = 43,800,000,000

43 billion dollars @ 60% ( rumoured sharing formula between Nigeria and oil companies)

That means Nigeria makes 25.8 billion dollars annually.

$25.8 billion x 200 naira = 5.1 trillion naira.


Nigeria's 2014 budget was N4.6 trillion meaning we still have about 0.5 trillion naira change.
www.channelstv.com/2014/04/09/nigerian-senate-passes-4-6-trillion-naira-2014-budget/


FEDERAL INLAND REVENUE

Nigeria generated N4.69tn Revenue in 2014

www.thisdaylive.com/articles/firs-generates-n4-69tn-revenue-in-2014/200484/

Adding N4.69 trillion (firs) + 5.1 trillion (crude oil) = 9.79 trillion.

If our budget was N4.6 trillion then we have a balance of 5.1 trillion naira that nobody accounts for.

Barcanista asked where we will find 1.8 trillion to take care of our most vulnerable citizens, this balance of 5.1 trillion will be taken away from the pockets of criminals and militants.




EDIT.


I forgot the FG gets 52% of total income, even at that we have a balance of 0.6 trillion naira which is sufficient for the first stage of the social programs.
The APC government has said one of its major income earners is the mining industry.

This plans with financial discipline is very much achievable.

Please note that my analysis is based our major source of income ( oil and taxes), i have not touched other income earnings.

OP I respect your sheer will.But the truth is that your calculations were a little bit Shallow.
But there is still a lot of hope u know ,mainly because their manifesto was formulated just about last year by great Nigerian economists like Pat Utomi and i m sure these challenges were put into contemplation