4Play:


Precisely. If this is your party's official position, it would entail that we should have no savings in the first place. This renders hypocritical any criticism of the government that it failed to save nor could criticism be sustained on the basis that the government is having to borrow to meet revenue shortfalls arising from an oil price crash.

If NOI insisted that we need to maintain a rainy day fund in the event of a fall in oil price and your party said that we shouldn't save, tell me who has been vindicated?

4Play:
If the funds have been used for personal ends, then your party should be in a position to investigate and recover much of the money from May 29. No be so? Or are you effectively signalling by your defeatist posture the impotence of the incoming government?

Ariel20:


Now you are talking..This is really sad

PassingShot:


You mean the APC that has constantly criticized/condemned the current budget arrangement of 80%:20% in favour of recurrent expenditure will tow the same line?

It can NEVER happen. Just wait and see how things will be done differently.

Truckpusher:
APC making series of 'I will fail' comments to have ready excuses to justify their imminent failure.

A barren woman will always blame a late marriage for her childlessness.

Sibrah:
You tell me how will feeding of populace make Nigeria industrialized. When You feed people it ends there but when you create industries and allow them to thrive you feed them through employement, shelter them, and even earn taxes and forex. The APC are too desperate to impress and may end up going for a short term stomach infrastructure that will blot recurrent expenditure.

barcanista:
It is one thing to criticise, it is another thing to show leadership. Many people criticise, including those in government at lower level. For instance, Osun is in huge financial crises, yet rather than stop the policy of feeding of school kids, they maintain it just to prove a point. That is an example of bad fiscal policy. It is no crime to take to austerity when things aren't going well.

rusher14:


Alert never enter.

4Play:


Now that oil prices have fallen, it's hilarious seeing people asking for recourse to the savings. Just a few months ago when oil prices were still high, the short-sighted demands of the opposition was that we should have no such savings.

http://www.bloomberg.com/news/articles/2014-09-30/nigeria-s-opposition-wants-to-scrap-sovereign-oil-funds

Now that our economic illiteracy is bearing fruit, the person who was warning about the need for fiscal prudence and savings is receiving abuse whilst the people who wanted it depleted are seeking to gain political capital from a relative lack of savings. You people are dolts.

barcanista:
It is one thing to criticise, it is another thing to show leadership. Many people criticise, including those in government at lower level. For instance, Osun is in huge financial crises, yet rather than stop the policy of feeding of school kids, they maintain it just to prove a point. That is an example of bad fiscal policy. It is no crime to take to austerity when things aren't going well.

PassingShot:


Really, you're sounding very funny now. Does it mean that not supporting or operating illegal accounts translate to not having savings? Aren't there many other legal ways of saving our excess earnings? Can't a bill be sponsored to operate the SWF and ECA so that they become legal?

Don't worry at all. Whatever can be recovered will be recover but do not come here to shout witch-hunting or victimization as some of you sympathetic to PDP have already been doing here. Do not complain when the searchlights start to beam.

Sibrah:
The guy needs to stop free feeding and allowance for un productivity and do more of Omoluabi Garment Factory. He is resisting the urge to stop these religious inclined schemes like feeding. They feel it is more noble to feed people. It is sort of like giving out alms to the 'Mekunus'

barcanista:
I have not been comfortable on reading that the FG borrowed money to pay wages and salaries of workers. This is sad and a shame. Saner countries borrow to fund developmental project, ours is to consume and loot. One of our challenges in this country has been fiscal indiscipline, and it is appearing like we aren't getting better. Jonathan administration with due respect has done little or nothing to better the situation, and the APC program is more of consumption than long term development. Truth must be said, we are in a dire situation. The incoming administration have lots of work to do.

PassingShot:


I do not mind Osun discontinuing the feeding program if the govt feels it's not sustainable. However, the state govt has a right to continue it if it feels it will get out of the present financial mess within a short period without discontinuing the program.

I believe the state is looking at many options to get out of the challenges.

The guy needs to stop free feeding and allowance for un productivity and do more of Omoluabi Garment Factory. He is resisting the urge to stop these religious inclined schemes like feeding. They feel it is more noble to feed people. It is sort of like giving out alms to the 'Mekunus'

PassingShot:


Have you had a look at APC's manifesto? Is feeding some school children the only thing you saw there?

Do you mean you didn't read how they plan to revitalize some already dead industries?

Didn't you read in it how they plan to create job?

If you have not read it, check it here and take your time to read and digest it.

ribbit:
the first time I will read something from you without you sounding like a slowpoke.

Truckpusher:
APC making series of 'I will fail' comments to have ready excuses to justify their imminent failure.




A barren woman will always blame a late marriage for her childlessness.

Reference:


Government is never the problem. It is always the people. They ultimately decide what is acceptable and their decisions or indecisions will steer the ship of state. Whether fuel subsidy, economic diversification, excess crude/sovereign wealth or even socio-political issues such as constitutional review, Nigerians are largely irrational and are failing themselves.

Of course the new government will borrow. Of course it will rather 'allocate from the centre', of course it will have its own cartels, rent seekers and thieves. These are things government, any government cannot do without. It is onjy the people that can bring about fundamental change on the altar of personal interests in favour of collective, lasting ideals. It is only the people who can agree to liquidate a bankrupt Osun, Imo or Zamfara. It is only the people who will decide if Holy Pilgrimages are an investment or an expense.

I wish to warn again about the waste of time and distraction from the 'fundamentals' this anti-corruption ideology is become. I wouldn't go as far as saying that the drum beats of corruption around the outgoing regime coincided with the moves first to reform the oil sector, then reform the country as a whole through 'the Confab'. The truth is I would rather invest in a company with strong fundamentals rather than one that strives not to lose a penny. I am rather worried about how many bridges Julius Berger is building than what the CEO earns or what his CFO steals. Even if every penny this country earns is kept, will it develop this country, no. Can it match our population, no. Will it make us rich, no. Will it build all the infrastructure, no. Especially when oil prices fall. We are a strategically vulnerable country not because of corruption but because Nigerians are not willing to take the risk of communal trust and bear the sacrifices of nationhood.

Watch out. We will gain a few dollars here and there as people steal less but the great cover-up, the great deception will remain for another many years. When OBJ said the elections saved us from the brink, I just smiled. Yes, of course. The brink of the truth.

clip:
Jonathan from surplus(foreign reserve) and oil boom price(more than $100 per barrel) to borrowing. I conclude that your are the most corrupt President.
Stealing is not corruption
Corruption is not stealing.
If you are prudent enough like Joseph in the bible people should be coming for help from us.

Truckpusher:
APC making series of 'I will fail' comments to have ready excuses to justify their imminent failure.




A barren woman will always blame a late marriage for her childlessness.

LocalChamp:
http://thenationonlineng.net/new/nigerias-economy-under-threat-as-debts-hit-n11tr/

chuna1985:


please remove soludos strict st.upidity from here, I don't respond to issues concerning a power hungry individual who has already been in the helms of this same affair n has nothing to show for it.

Back to the topic, where did she goof? back up ur argument with facts about her crimes or her flaws...

If trains highways have no relationship with the economy, I guess I'd advise u to stop talking about things u don't know.

Many Nigerians are very gullible just like u, Wen u read any article (especially the ones that suggest billions of dollars is missing) u just believe it without even trying to analyse it.

Develop a mind of ur own n desist from following the crowd...

Truckpusher:
APC making series of 'I will fail' comments to have ready excuses to justify their imminent failure.




A barren woman will always blame a late marriage for her childlessness.

ShaddyTerese:
That's the more reason why GMB must leave no stone unturned in recovering stolen funds. #No mercy#

misterh:
Back to the topic, how come Nigeria is now borrowing to pay salaries? Even after we've been told that we're the biggest economy in Africa. The oil price under this govt was high. How have we fared with the excess revenue?

FG, States, LGs Share N568.4 Billion for Oct
15 NOVEMBER 2013

Also, $1billion was proposed for distribution to complement shortfall in expected revenue." The $1billion is a compromise by the FG over its words in September not to augment shortfalls anymore.

Responding to the presentation, the chairman of the States Commissioners of Finance and Ebonyi State Commissioner of Finance, Mr Timothy Odaah, lamented that the statutory allocation was getting smaller and smaller. "It appears this is the worst in terms of returns. This is the least in allocations as far as this year is concerned. We are mourning the dearth of funds and this is a wakeup call for states and local governments to buoy up their internally generated revenue."

While appreciating the "magnanimity" of President Goodluck Jonathan to approve the $1billion from the excess crude account and to be shared among the federal, state and local governments, Odaah expressed disappointment with the returns made by the NNPC.

He said that [size=14pt]the states had requested for $2bn[/size] to complement for the shortfall in revenue but got only $1billion. In September, Odaah and fellow commissioners had walked out of the Accountant General of the Federation (AGF) when the federal government said that the framework of the 2013 budget was no longer realistic and it won't augment shortfall in revenue. Odaah raised issues with the statutory allocations of previous months.

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