OgunNewsFact:
“Don't tell me what you value, show me your budget, and I'll tell you what you value.”
The quote above was by Vice President Joe Biden, its succinct. If I see what you spend money on, I see what you value.
It has been difficult to do a proper analysis of the 2016 budget because the breakdown was unavailable, however the budget breakdown has been released, and it’s a very disappointing, (I am being polite).
The budget sees a huge spend on capital expenses, this is positive and a reflator of the economy if properly done.
Structurally the budget is a budget of debt with a full N1.36t to be spent on debt service, the entire non-oil revenues will be spent on debt service alone. we are borrowing almost N420b to pay salaries. However, salaries must be paid, the armed forces, police and teachers must be paid, in fact some may argue that government spending is a necessary stimulus on the face of a slow economy, I concede that point, but in Gods green heaven why is Nigeria spending N795m ie $3m to update a website for the Ministry of Solid Minerals?!
How can this be happening in 2016? In a progressive budget? In a climate of austerity? N795m?
Who approved this proposal? did Dr Kayode Fayemi approve this expenditure? Did Udo Udo Udoma and Kemi Adeosun see this? Was this vetted by the Presidents team? Is President Buhari aware his budget contains a provision of N795m to update a website? What part of zero budget is this?
The 2016 budget proposal is simply filled with other astonishing allocations, for example an amount totally N535m is to connect cables to the State House, Guest, Gate and Generator House…. N535m!
One of the main trusts of the administration is anti-corruption, the EFFC was given N11b to fight corruption, impressive, but out of this N11b, only N111m is for Legal Services that 1%, yes 1%. The EFCC will spend more on fuel and lubricants, than legal services. Is this the zero budget we have been hearing of? is there another to come?
Let me highlight the ministry with the highest capital vote, the massive Ministry of Housing, Power and Works. Understandably this is a merger of 3 larger ministries but I mean, some things just stand out, eg the “Generation of 10mw from Katsina wind farm” is duplicated, the “Generation of 700ma from Zungeru Hydropower project is duplicated 6 times! ironically “Sustenance of Effective Budgeting Systems is duplicated 3 times!
In the same Min of Works, Housing & Power budget you also see expenses that baffle, the ministry is proposing N531m to attend meetings on housing and development? Do we also really need to spend N919m on Research and Development on housing matters?
The 2016 budget as proposed does not reflect the body language of the President nor the economic realities of $30 crude oil price. We are proposing to spend as if we just won the Powerball lottery., we had these sort of questionable budgets in the past, and this administration has preached change and a practical implementation of a zero based budget, this budget reflects neither of these
There is still the opportunity for this budget to be reviewed during the national assembly appropriation process, but I am not holding my breath. On a final note, we can do better, much better
Its our problem, we can solve it

“Don't tell me what you value, show me your budget, and I'll tell you what you value.”

The quote above was by Vice President Joe Biden, its succinct. If I see what you spend money on, I see what you value.

It has been difficult to do a proper analysis of the 2016 budget because the breakdown was unavailable, however the budget breakdown has been released, and it’s a very disappointing, (I am being polite).

The budget sees a huge spend on capital expenses, this is positive and a reflator of the economy if properly done.

Structurally the budget is a budget of debt with a full N1.36t to be spent on debt service, the entire non-oil revenues will be spent on debt service alone. we are borrowing almost N420b to pay salaries. However, salaries must be paid, the armed forces, police and teachers must be paid, in fact some may argue that government spending is a necessary stimulus on the face of a slow economy, I concede that point, but in Gods green heaven why is Nigeria spending N795m ie $3m to update a website for the Ministry of Solid Minerals?!

How can this be happening in 2016? In a progressive budget? In a climate of austerity? N795m?

Who approved this proposal? did Dr Kayode Fayemi approve this expenditure? Did Udo Udo Udoma and Kemi Adeosun see this? Was this vetted by the Presidents team? Is President Buhari aware his budget contains a provision of N795m to update a website? What part of zero budget is this?

The 2016 budget proposal is simply filled with other astonishing allocations, for example an amount totally N535m is to connect cables to the State House, Guest, Gate and Generator House…. N535m!

One of the main trusts of the administration is anti-corruption, the EFFC was given N11b to fight corruption, impressive, but out of this N11b, only N111m is for Legal Services that 1%, yes 1%. The EFCC will spend more on fuel and lubricants, than legal services. Is this the zero budget we have been hearing of? is there another to come?

Let me highlight the ministry with the highest capital vote, the massive Ministry of Housing, Power and Works. Understandably this is a merger of 3 larger ministries but I mean, some things just stand out, eg the “Generation of 10mw from Katsina wind farm” is duplicated, the “Generation of 700ma from Zungeru Hydropower project is duplicated 6 times! ironically “Sustenance of Effective Budgeting Systems is duplicated 3 times!

In the same Min of Works, Housing & Power budget you also see expenses that baffle, the ministry is proposing N531m to attend meetings on housing and development? Do we also really need to spend N919m on Research and Development on housing matters?

The 2016 budget as proposed does not reflect the body language of the President nor the economic realities of $30 crude oil price. We are proposing to spend as if we just won the Powerball lottery., we had these sort of questionable budgets in the past, and this administration has preached change and a practical implementation of a zero based budget, this budget reflects neither of these

There is still the opportunity for this budget to be reviewed during the national assembly appropriation process, but I am not holding my breath. On a final note, we can do better, much better

Its our problem, we can solve it

nice piece... Nigerians are too distracted by the EFCC

Lalasticlala..pls...pls....take it to fp.

PMB has disappointed us big time.

Even fasholas ministry...page 4 of 40.

It proposes 1.2 billion for furniture and fittings, 6 Billion for new office block,

And... Wait for the big one...

Renovation of Our Public Schools....32 million naira...

EFCC plans 3billion naira for a new office block.

Abeg make una continue.

This one na everybody mata oo. If you see anything wen no make sense for that budget, kon put mouth hia.

If them like mk dem withdraw budget again, I no send. Mk dem withdraw am for as many times until them get am right.

As that budget reach like 3 volumes, I know say PMB no read am. Udoma need to go for questioning.

In fact, shey some ministers dey wen no get portfolio? Okay, PMB, b lyk say some ppl no like their portfolio, jor dey swap them sharperly...

I am pro-GEJ, but this budget issue don dey vex me. All GEJ budgets were like this, now PMB own 1 still b lyk this, na swear them swear for this country?


-Lord

ok

OP, thumb up! More grease to your elbow.. If the budget is properly implemented and the monies appropriated are judiciously spent, am sure that there would be a lots of progress.

OP Once again, more grease to your elbow!

my question is, wetin remain before the APC zombies realize that their change is scam?

N795m website update