Planning the budget with estimated oil price of $38 per barrel for 2016 when the oil price as at today is $32 per barrel with a high propensity to drop further down is Budgeting in deficit and no nation in the world does that.
It is like you earning 32,000 naira salary and the list you made for family expense is at 38,000 naira.

Please who can analyse this budget projection. I think it is better to face reality than dwell in fantasy in the name of faith.

hopilo:
Planning the budget with estimated oil price of $38 per barrel for 2016 when the oil price as at today is $32 per barrel with a high propensity to drop further down is Budgeting in deficit and no nation in the world does that.
It is like you earning 32,000 naira salary and the list you made for family expense is at 38,000 naira.

Please who can analyse this budget projection. I think it is better to face reality than dwell in fantasy in the name of faith.

that is the level of the economic advisers in Buhari's government, very poor projection

2016 is not looking promising for Nigeria. Soon,PMB will move to close down all borders so Nigerians won't escape.

Op

Buhari promised to stabilize world oil price during his campaign.

Don't worry, OPEC corruption will be dealt with by Buhari to keep the price of oil at $38/barrel

Na when I see the budget I will analyse!

baralatie:
Na when I see the budget I will analyse!

He just presented it to national assembly.

hopilo:
Planning the budget with estimated oil price of $38 per barrel for 2016 when the oil price as at today is $32 per barrel with a high propensity to drop further down is Budgeting in deficit and no nation in the world does that.
It is like you earning 32,000 naira salary and the list you made for family expense is at 38,000 naira.

Please who can analyse this budget projection. I think it is better to face reality than dwell in fantasy in the name of faith.

No, there is nothing wise in budgeting for $38/barrel. The US just lifted its embargo on oil exports, Iranian oil will soon be on the market again, and the Chinese economy is slowing: even $28 a barrel may prove optimistic.

As corrupt as the previous administration was, Buhari seems out to prove to everyone that corruption + inaction can actually be better than no corruption + economic illiteracy. Every single one of his economic policies is wrong headed.

1. He refuses to simply abolish the fuel subsidy and remove all restrictions on who can import and distribute fuel.
2. He refuses to scrap the obsolete refineries and allow the private sector to build modern replacements.
3. He refuses to allow the Naira to float, preferring to allow foreign reserves to be run down while a few crooks benefit from round tripping.
4. He thinks its a good idea to keep throwing money into the huge white elephant called Ajaokuta, which will never be competitive even if it is ever completed.
5. He thinks the same old 13% derivation formula provides sufficient incentive for private investment in the minerals sector.
6. He has yet to announce a single policy that would reduce the hassle for foreign investors wanting to do business in Nigeria - no simplification of corporate registration, abolition of pointless paperwork, etc.

Pursuing corrupt politicians is all well and good, but not if it comes at the expense of an economic policy that has some relationship to reality. In fact, it isn't clear to me what exactly Buhari is doing with all his time, as the EFCC and the courts are supposedly independent institutions, which should not require his intervention.

If GEJ was a thief, Buhari is proving to be a fool, at least on the economic front.

Two things constant in this life are the Universe and human STUP1DITY
...ALBERT EINSTEIN
The US and Iran, will crash the oil price in February, to $25. This silly government, will be forced to review the budget, due to the huge deficit. This is why GEJ, spent his tenure on people oriented policies, and not on economic theories. Difference between an illiterate and a PHD holder. When it comes down to the wire, a PHD holder, will jettison his classroom understanding, and start selling garri and rice. But an illiterate will still be flipping through a book he doesn't understand and will never comprehend.