Tokt:


u lot are just fond of asking foolish questions. Qoute me where i said the above first and i will decide if i will choose to answer or not. By the way, if Dasuki embezzled the money why are yam eaters like Metuh, dokpesi,etc in court for money dasuki embezzled? are they also Dasuki?

Obiagelli:

My goodness all the borrowed money going into capital projects. How many times will i say this?

Obiagelli:

No the argument is losing our foriegn resever from over $40 billion in 2008 to $30 billion in 2015 despite record oil prices same goes for the ECA or SWF or whatever name we give it

luvinhubby:

Putting saved money into a wealth fund is investment.

luvinhubby:

What is the difference between deficit & borrowing in respect to budget projections, considering that projected IGR was part of the calculated income that gave rise to the deficit which will be augmented by borrowing.
In short, deficit & borrowing are one & the same in every budget.

Obiagelli:

My goodness all the borrowed money going into capital projects. How many times will i say this?

adconline:

What a warped reasoning. So in 2015, the budget budget was N3.9tn with recurrent and capital budget factored in, now GMB will spend N4.2tn on recurrent expenditure and go around shopping for N1.8tn for capital project. This is like having N39k in account and you around throwing parties that would cost N42k and then you around borrowing N18k to fix leaky roofs and plumbing in ur house. " Don't tell me what you value, just show me your budget and I'll will tell you what you value" Joe Biden.

ekolina:
If all the borrowed money goes into capital project! what will the other revenues be used for? To get your calculation right, you cal based on % of capital projects in the budget. that is a junior school maths pls

Obiagelli:


Yeah yeah paying salaries is partying.

Obiagelli:
Nigeria 2008
external debt: $3 billion ( corrected)
external reserve: $40 billion
Soveign wealth: $19 billion




Nigeria 2015 (4yrs of record oil prices)

external debt: $9.7 billion
external reserve: $29 billion (corrected)
Soveign wealth: $1 billion

Obiagelli:
Nigeria 2008
external debt: $3 billion ( corrected)
external reserve: $40 billion
Soveign wealth: $19 billion




Nigeria 2015 (4yrs of record oil prices)

external debt: $9.7 billion
external reserve: $29 billion (corrected)
Soveign wealth: $1 billion

luvinhubby:

Foreign debt - $3.8 billion (approx. $4 billion)
ECA - Funds holding account.
SWF - Funds growing account

ECA accessible to sharing by RMFAC to 3 tiers of govt.
SWF invested funds that cannot be accessed by any 'bagger'.

Obiagelli:


http://thenationonlineng.net/adeosun-explains-nigerias-borrowing-plans-to-fund-capital-projects/

Obiagelli:
Nigeria 2008
external debt: $3 billion ( corrected)
external reserve: $40 billion
Soveign wealth: $19 billion




Nigeria 2015 (4yrs of record oil prices)

external debt: $9.7 billion
external reserve: $29 billion (corrected)
Soveign wealth: $1 billion

Obiagelli:


I have not added figures anywhere, if anything else, i have understated figures

Obiagelli:


Yeah yeah paying salaries is partying.

obasiken:


One lie needs more lies to cover up. The presidency need to be definite in their statements. They cant say one thing today and contradict the same statement later.

Which is it? was the money stolen, embezelled or misappropriated? These three all mean different things . So far they have accused the past govt of all 3.

ekolina:
The 1billion dollar was never a cash loan get your facts right.

Sealeddeal:
Bia Obiagelli,
It is difficult defending Mrs Kemi Adeosun. She is an underdog. Alot of Financial experts in this forum is better than her and that why her statements are being punctured easily. By merely looking at the budget breakdown and funding,it is easy to know when Mrs Adeosun is talking nonsense.The loan will partly fund recurrent expenditure save if the government do not intend to fully implement the Recurrent expenditure of which imply that government is planning to owe workers salaries. I dont blame Mrs Adeosun,it is Gov. Ibekunle Amosun that set her up.

asuustrike2009:

Technically they defeated boko haram yet they still attack isn't strange? Why would he refer to killing of Nigerians as soft target?

Tokt:

Yes he was right. He gave reasons for declaring technical defeat didnt he? TANoids and Ipob fools wont tell u that part will they?
He said they are Technically defeated because their capability and capacity to annex territories of the federal republic like they did under the leadership of the buffoon has been neutralised. Sane minds surely know that this is true.

jusRadical:



And salaries cost N4.2tri? Did pmb increase wages? Has he employed more people? That is did he double the workforce?

Does it not look very stupid for one to spend N4 when he was earning N5 and plans to spend N6 when his income dropped to say N4?

Redoil:

Obiagelli:


SWF = ECA

foriegn debt= $3 billion

borrowing by a developing nation to fund project is very deadly esp when it comes to bubu and lie mohamed.

Tokt:


Biko, use ur brain nahhh

asuustrike2009:

dey there make dos politicians dey use grammar dey deceive una. So so grammar without action

adconline:

Keep yapping and being selective in ur responses. It was around 40% under Obj without borrowing and increasing national debt.
It was 31% in 2013; 24% in 2014; 18% in 2015-all without borrowing and doubling national.
But GMB is borrowing to fund recurrent expenditure. He's increasing the already bloated FG expenditure by 70%..

jusRadical:



And salaries cost N4.2tri? Did pmb increase wages? Has he employed more people? That is did he double the workforce?

Does it not look very stupid for one to spend N4 when he was earning N5 and plans to spend N6 when his income dropped to say N4?