“The present budget is more of the same to the previous ones. Mr. Vice President [Prof. Yemi Osinbajo], If you scale your budget on the scale of GDP, it is almost the same with the previous government.

“It has a historic 37% deficit as we never had it before. The truth is that you are borrowing 37% with only 30 per cent on capital project,” Prof. Soludo stressed.

Can someone please explain to me what Soludo means here. From my little understanding of the budget, the 2016 budget deficit is ~2% of GDP, while the total deficit is ~14% of GDP.
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Also, can Soludo please explain how a CAPEX budget of ~N1.5tn in the 2016 budget is similar to the ~N500bn in the 2015 budget? While at it, can the former CBN Governor pls tell me how else he expects the government to fund its budget with such declining revenues? Is he suggesting that we should cut government spending to around N4tn, bearing in mind that a recession is looming?

In the 2015 budget, oil revenue was projected at over N2.5tn while in the 2016 budget, it is only project at over N800bn. This clearly shows a break from the past where the 70% of budget was funded from oil revenue.
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The world Bank projects Nigeria's GDP to grow ~4.5% in 2016. That projection is based on the fact that the government will be spending N6tn this year. Any reduction in spending will effectively shrink the GDP with all its attendant consequences.

Clear to all now that Buhari is the President that has no economic blue print or manifesto.

He just want to answer President.

PMB has been copying GEJ's ideas and policies since he came into power. Why have they refused to give him credit for it? GEJ all the way!

copy copy dullard!!!!!!

Wailers oya food don done make una come eat and celebrate,as PMB no give am appointment while him no go talk.

It is time for all intellectuals to come together and help this nation.
Enough of the criticizing without coming up with workable solutions.

MisterGrace:
Dear Soludo,

With due respect, what is wrong with that?
Why is it a crime?

Whatever happens to continuity in government.

Why continue from the one u called clueless?
Shame on you

DonCortino:

When someone copies a clueless person, what will he be called then?

...cluelessness of the clueless

Now who is the clueless?

How can you compare NEPA BILL with DOCTORATE DEGREE ?

He or she becomes clueless clueless

DonCortino:
When someone copies a clueless person, what will he be called then?

Ff

And yet everybody will want to crucify him even though he is being emulated secretly... Am being neutral though

ShowYourCertificate:
If Buhari didn't write and pass WASC Economics back in his school days how do you expect him to vet a national budget? Someone that cannot even vet his family budget (going by his inability to locate his land in PH). His certificatelessness confirms his dullardness and his inability to vet a budget confirms his cluelessness. So we are safe to say Buhari is a clueless dullard

That's why he's a presidiot.

ShowYourCertificate:
If Buhari didn't write and pass WASC Economics back in his school days how do you expect him to vet a national budget? Someone that cannot even vet his family budget (going by his inability to locate his land in PH). His certificatelessness confirms his dullardness and his inability to vet a budget confirms his cluelessness. So we are safe to say Buhari is a clueless dullard

...buharians will see something bad in this comment

Electing a certificateless General as president because a PhD holder " failed" is like refusing to send your child to school because your educated neighbour is jobless.

At the end, the masses will be the loser. Buhari will leave Aso Rock a rich man but the poor masses will get poorer going by current economic indices.

Expo

lielbree:

Why continue front the one u called clueless?
Shame on you

Look, I don't have time for tantrums this morning...
I've got important things to attend to.

The most important thing is its implementation. Besides, have you taken out time to think
and come up with the reasons why it had to be that way? How much is the exchange of dollars to naira then
and now?

When someone copies a clueless person, what will he be called then?

.........Hmmmmmm! Are you still Vexing because I didn't give you any appointment? ....NO VEX MR. PROFESSOR, PLENTY EXECUTIVE OFFICE WEY NO GET OGAs Still dey! I go soon find you One! But no tale Madam Ngozi fa!!!

Ugonnax:
I have no doubt that our economy will be turning around by now had Charles Soludo been the Minister of Finance and on his recommendation a new CBN governor. I wouldn't even mind him going back to CBN...he did a fabulous job while he was there.

The answer is simple.

He cannot be a puppet to Mr. Integrity..

eagleeye2:

Of course, blame it on the civil servants. So there is no one in the presidency to go over the first draft before it is finally submitted?

the budget office is a parastatal in the presidency vested with responsibility of budget preparation and they were expected to do the job for which they're paid thoroughly. I'm sure you ain't expecting the president to revet an already vetted job.

LWKMD

Not only he copied his budget. He even copied him on Chibok girls. "that he doesn't know their way about". and he is honest man according to Zombies, But when GEJ said so the Apc Zombies called him Clueless. The question now is who is the most clueless? Apc Zombies answer. Ndi araa

drss:
dullard *10

No he should be called dullard 10 plus

IamPatriotic:
This is an open secret, during the budget debate of 7th Senate, Senator Babafemi Ojodu, of ACN made a point of order, he presented a copy of the 2014 budget proposal and juxtaposed it with the 2015 own, believe you me, the two documents were duplications of each other safe for dates. David Mark ruled him out of order cause he was was exposing the flaw the PDP government, now the whole thing is playing its ugly self to our faces. the blame goes to the civic servants in the budget office, they are lazy and desperately corrupt, all they do every year is change dates and titles of documents and submit unrealistic budgets filled with errors and dubious demands.

the issue is not copying the template, the issue is what is the economic policy of the present administration, we have been shouting the government is not investing for years, we just keep borrowing to run the country, how do we pay back without investing.

I thought as much,buhari wouldn't have come up with that budget on his own,he must have copied it somewhere

“The present budget is more of the same to the previous ones. Mr.
Vice President [Prof. Yemi Osinbajo], If you scale your budget on the
scale of GDP, it is almost the same with the previous government.
“It has a historic 37% deficit as we never had it before. The truth is
that you are borrowing 37% with only 30 per cent on capital
project,” Prof. Soludo stressed.


Nairalanders sef, if you no read well..you will think PMB did copy and paste..or photocopy

Soludo did some technical comparisons here before making his assertions..... and basically, what is more important to us as a citizen is full implementation of the said budget..only then we will enjoy the present administration.

God bless Nigeria

What do u expect from a certificateless mallam