I ve discovered dat nowadays d number of sai buhari chanters hv reduced drastically

Good moves, but will they ever drop anything directly linked to them and their children.They should drop all the SUVs etc.If its properly implemented and beneficiaries properly selected and money well utilized without going to their cronies and kings men, I have no problems with that.

anti Buhari Senate. they should tell us how spending on less privileged Nigerians will cause problems. is it not high time Nigeria start taking care of her aged citizens, providing services such as free antenatal care etc. while they think spending on this will cause problems but they don't see problems in government spending money on them when they retired from stealing from the Treasury. I pity Nigerians whoever believes this Senate idea is in the interest of the poor Masses. the minister of finance had said they will generate money from other source and with the few individuals, eg custom boss, the banks that have cooperate with the president, there is positive report so far. they should involve themselves in thinking on how it can be possible not given us excuses of the impossibility of the program.

A government of confusion and contradictions.The other day,Buhari told us that he would not give out the previously promised #5,000 for unemployed youths,today there is #500 billion intervention fund.What is this money meant for?Is it the same money meant for the youth that he insisted he would not give?Is it just for the feeding program? So much questions but few answers.

zobies are mute

Remii:



anyway unless you have load of dollar kept somewhere, devaluation is not in your interest. once Naira is devalued without salary increase, populace become poorer, simple.

are people not getting poorer, and factoroes are shutting down

WHY NOT INVEST THE DAMN MONEY ON AGRICULTURE AND EMPLOY THE PEOPLE SO THEY CAN HAVE MONEY TO TAKE CARE OF THEIR FAMILY?

Buhari has fulfilled all my predictions about him in less than 12 months,he is truly magnificent.

Adminisher:


All what you have said is inside the budget. It is you who does not have intellect and discrimination. Infrasturural project based employment was introduced into our national discourse by Buhari and the APC. Before that it was a fake PhD holder tallying up the 200 private jets in his country with the world's third worst HDI and calling it an evidence of a good economy.
200 private jets will employ 200,000 people.

Not really.. Instead of talking about this budget, but you are blaming another govt for this budget.. This is no stimulus bill in this budget.. Capital budget is at 30% as budget in this budget while a typical Naija of N4tn with capital budget of 25% with another 75% from stimulus bill would have put back the country on track.. We need govt spending to spur growth since companies aren't spending.

that's the difference between a politician and a technocrat. Goje as an former governor that had little or no impact on the critical affairs of his state think like a politician while Adeosun and co. way of thinking differs.
Goje sees the school feeding project as one that is not sustainable while the cbn crew are scheming to perfect it,
he was worried about the selection process for the vulnerable nigerians while they said it was a promised that must be kept and therefore must device a way to implementit effectively,
he used market men his state as a case study but he forgot they have organization through which they can be reached.
he called to scrap/postpone the intervention program while he failed to ask about exisiting plan and challenge them to perfect it.
i love ideologies

You want to drop the only thing meant for the poor masses in the budget and after you will turn around to say Buhari did not keep to campaign promises.
Meanwhile you plan to buy cars worth billions for yoursleves. And nobody checks and pass your National assembly budget.
Religion and tribal politics have made Nigeria youths not to think and ask proper questions.

Remii:



anyway unless you have load of dollar kept somewhere, devaluation is not in your interest. once Naira is devalued without salary increase, populace become poorer, simple.

Common sense!

grandstar:
are people not getting poorer, and factoroes are shutting down

prices are not skyrocketing officially, if Naira is devalued, imported fuel will be at new Naira value, fuel will officially move up by the same margin, boom hell will let loose. i think factories are closing because owners have refused to develop local sources of raw materials. if the Naira is devalued and you expect CBN to add the barred so called 41 items access legitimate forex, without increase in $ inflow, the black market will go through the roof again, so it is a tough situation. we need to change out taste to local items as much as possible and the naira will get better. government need to implement Nigeria Content in all sectors as they have done in the oil and gas. one other help will be to pass the 2016 budget so that govt can spend money on project that will fund the economy.

nice objection from nass

grandstar:


don't mind them

The refusal to devalue is devastating the economy!

Can you explain how devaluing the Naira will help the economy?

You make life difficult for the masses and budget 500b to intervene. God is watching Buhari and his change

finally the truth is coming out

Too many people talking too many nonsense here!!!

Wow!! high 5ive to Goje on this one. One thing always lacking in the governments plans is "prioritising" especially when we know we have limited funds, everything is good but not everything is critical, let us always try to identify critical issues and handle them first b4 we start tackling other issues. "Deal with NEEDS b4 u deal with WANTS". "You want to feed school children that study under trees" - Epic.

AZeD1:

Can you explain how devaluing the Naira will help the economy?

It will help in several ways

1. The present scarcity of dollars is artificial. It is because the price is too low and that is why CBN can not meet demand.

If devalued, it will reduce demand and there will be enough dollars in the market. A devaluation to 240-250 range will be enough. This will lead to a merger of the official rate and the black market rate.

2. It will bring a reduction in the black market rate to around 240-250 range.

3. Many companies now wait months to get dollars. Once it is devalued, there will be enough dollars and companies can receive their allocation within days.

4. It will heavily reduce round tripping- where people buy at the official rate iof 197.50 and sell at the black market rate of 320

5. It will encourage private individuals to bring in foreign exchange and those that have will be willing to sell.

6. The daily spend on the ATM's will increase to what it was before.

7.It will bring down rising inflation. Many products are already priced at the black market rate.

And many others. The most important is that it will end dollar shortages

Remii:

anyway unless you have load of dollar kept somewhere, devaluation is not in your interest. once Naira is devalued without salary increase, populace become poorer, simple.

Naira is already devalued, what people are asking for is for the CBN to stop the pretence which the official rate embodies as having an official rate which does not reflect the market value of the naira damages the economy and makes currency depreciation worse.

grandstar:


It will help in several ways

1. The present scarcity of dollars is artificial. It is because the price is too low and that is why CBN can not meet demand.

If devalued, it will reduce demand and there will be enough dollars in the market. A devaluation to 240-250 range will be enough. This will lead to a merger of the official rate and the black market rate.

2. It will bring a reduction in the black market rate to around 240-250 range.

3. Many companies now wait months to get dollars. Once it is devalued, there will be enough dollars and companies can receive their allocation within days.

4. It will heavily reduce round tripping- where people buy at the official rate iof 197.50 and sell at the black market rate of 320

5. It will encourage private individuals to bring in foreign exchange and those that have will be willing to sell.

6. The daily spend on the ATM's will increase to what it was before.

7.It will bring down rising inflation. Many products are already priced at the black market rate.

And many others. The most important is that it will end dollar shortages

Your post shows you have no idea of the problem.
1) Nigeria earns most of her foreign exchange(Dollars) from selling crude.
2) The price of Oil is down, and there's also a glut in the market.
3) Devaluing the Naira doesn't increase the price of oil so the amount of Dollars the CBN has would NOT increase.
4) The theory of devaluing only makes sense if you are a manufacturing country because when you devalue, manufacturers can sell more
5) Nigeria doesn't manufacture anything so devaluing doesn't help.