FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF - Politics

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FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF - Politics - Nairaland

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FG Borrows N5trn From Pension Funds / Buhari Inherited N600bn Oil Marketers’ Debt, Says FG / FG Borrows N600bn Monthly To Augment Staff Salaries, Says SGF (2) (3) (4)

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FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by ukomko: 6:49pm On Apr 12, 2016

The Federal Government of Nigeria has disclosed that its borrows internally over N600 billion annually to pay salaries of its workforce adding that with the way things are going many States may not be able to pay salaries in the next three to four months.

The Secretary to the Government of the Federation, SGF, Mr. Babachir Lawal made the disclosure Tuesday in Jos where he represented President Muhammadu Buhari at the opening ceremony of the 63rd General Church Council meeting of the Evangelical Church Winning All, ECWA.

He urged all faith-based organizations and traditional institutions to sensitize the citizenry on the need to exercise patience in the hardship that is currently being experienced by all as stressing that though this administration inherited a country that was robbed to the last coffers, it will be revived within a short time.

The SGF lamented that the present administration inherited an ailing economy that must be nurtured for sometime before it stabilizes and assured citizens that with the desired cooperation, the country would come out of the slum and assume its rightful place as the most populous black nation.

http://www.vanguardngr.com/2016/04/fg-borrows-n600bn-monthly-augment-staff-salaries-says-sgf/

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by samogo1: 10:24am On Apr 13, 2016

INHERITED WHAT? we are tired of all these blames. didn't they kw what they were abt to inherit before giving all those promises? what have they been using all the recovered loots for? yet we are borrowing.

9 Likes 1 Share

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Trailblazer1(m): 10:24am On Apr 13, 2016

Public Opinion

LIKE if you think things will get better

SHARE if you think things will get worse than this

36 Likes 14 Shares

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by comradee1248: 10:24am On Apr 13, 2016

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Trailblazer1(m): 10:24am On Apr 13, 2016

By the time Buhari finishes with Nigeria the value of Nigeria will be less than that of current Osun state

11 Likes 4 Shares

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Fadman4real(m): 10:25am On Apr 13, 2016

This is so bad, i dont believe it, after allthe money they claim they are made from the TSA. Well i just pray it is a lie and that things would get better, if not hmmmm we would see aw much suffering the average nigerian can take before he figures things out.

4 Likes 1 Share

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Nobody: 10:25am On Apr 13, 2016

How much is being borrowed to fund Buhari's foreign trips?

13 Likes 4 Shares

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by donpata(m): 10:25am On Apr 13, 2016

NOI told us. They claimed she needed to shut up. They said she could not manage the economy well. They claimed if not for corrption, there will be enough to go round and even save. Now the zombies are in power.

So far, wth the "tackling" of corruption and the handling of the economy by "better" hands, i expect that after one year, we shld be saving and lending to others by now. What abt the 3trillion they claim they have in the tsa? what sense does it make for me to have huge money in my account but decide to go and borrow and start paying interest and servicing debts? Or are they saving the 3trillion for 2019?

N600b Just to "Augment"? not even the whole salary. It means the total could be arnd 1.6-2trillion. Tinubu and OBJ salary go dey inside be that. Nigeria, I hail thee. APC and ... (u know the drill)

6 Likes 1 Share

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Nobody: 10:25am On Apr 13, 2016

Again...effects of Dutch disease.

Putting it calmly...Nigeria needs oil prices to be at $123 per barrel to avoid borrowing. (Countries like Russia need it at $99, Saudi $80). Oil is at $40. And agriculture , despite the efforts of GEJ's minster of Agric, and now head of ADB, is no where near filling that gap. (Largely because most of our farming is done on small scale, and manually, and also because we no longer have the guaranteed British markets we used to have in the 1960's).And we are not a manufacuturing power.

So, before you call me a non-existent creature, consider those facts above. We do not have the money. And quite frankly, we need to raise taxes, end subsides in education and the oil ministry, and drastically cut costs in order to get more funds. And this is why the war against corruption is important...we need every last drop of cash stolen back. We also need to end the petty corruption that takes place in our civil service...which is why I am glad that something is being done about the budget padding. For decades...people got away with it...now that is coming to an end.And we need to sack excess civil servants. Sorry...but we have no choice.

But for now...we may need to take loans to survive. Oil...our major earner, is not going to go back to $100 and above again. Maybe never. The optimists are predicting $50 by the end of 2017. Maybe not.

What we need to do now...is to focus on Power, Transport and Education(Technical). So that we can become a manufacturer of goods for export in the next ten years at the earliest....and earn far more forex than oil(Devaluation makes sense as a manufacturer...because we would earn even more forex).. We could become a manufacturer of cheap android phones for the African market...so that people won't need to buy from China. We could go into radio and tv manufacturing. Even calculators could be made by us for the African school market. The goal should be an end of reliance on resources.

Depending on resources...whether agric, oil or solid minerals , does not work anymore. It worked when we had actual markets in the UK back then. Not anymore. So, time we woke up, and used our brains. Europe , the US and even China are not our saviors. Following their example...even if it means initial years of hardship...will save us.

10 Likes 3 Shares

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Inspectahdeck(m): 10:25am On Apr 13, 2016

We are good at planning on paper, but when it comes to implementation corruption, tribalism over cloud our thoughts.

Governance system in Nigeria is very comfortable, thus our leaders (mostly state government) become lazy to think of other means of developing their state and it's IGR.

Nigeria should move towards a sustainable future or our children will suffer from our present actions.

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by jstbeinhonest(m): 10:26am On Apr 13, 2016

What about the billions the TSA supposedly saved?...Hello Greece.

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Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by IamQuins: 10:26am On Apr 13, 2016

600Million monthly for just salaries, Nigeria is in one big fcking trouble

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Ayanko(m): 10:26am On Apr 13, 2016

ok.

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by naijapips02: 10:26am On Apr 13, 2016

welcome to change. 600 Billion plus $2 billion.

After this change, Naija would be auctioned on OLX. cheesy

8 Likes 2 Shares

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Segadem(m): 10:26am On Apr 13, 2016

Hmm

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Trailblazer1(m): 10:26am On Apr 13, 2016

We were told that the recovered loot will be enough to fund the budget for the next 3 years
how come we still borrow to pay ordinary salary

6 Likes 1 Share

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by marycool18(f): 10:26am On Apr 13, 2016

The borrowing is real, hope they don't sell out the Nigerian child's future while trying to repay all those debts, Lord have mercy!

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by macaranta(m): 10:26am On Apr 13, 2016

In the future,our debt profile will he outrageous God help us

1 Like 1 Share

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Segadem(m): 10:26am On Apr 13, 2016

naijapips02:

welcome to change. 600 Billion plus $2 billion Naira.

Naija would be sold on olx after buhari.

[/quote][size=15pt]Nigeria will be on course and her glory will be redefined after Buhari
Trailblazer1:

Borrow! Borrow!! Government
do know the meaning of "annually" [/size]

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Nobody: 10:27am On Apr 13, 2016

APC is suffering from numerical madness.

Buhari should borrow also from China to pay civil servants

How come buhari packed brainless and dullardss around him just to dull theirselves.

2 Likes 1 Share

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Nobody: 10:27am On Apr 13, 2016

Buhari called Germany. West Germany

Simon Dalung did a reverse time travel to Gongola state to watch match

Kemi Adeosun got her çalculations wrong

Ngige said its only PDP supporters that are complaining[b]

Kachikwu said he is not a magician

Fayemi is still doing honeymoon on Ekiti taxpayers bed

Ogbonnaya said we will soon be producing pencils

Now SGF just want to show that the [/b]dullness is also in him that's why he is just dishing out figures like someone that went mad in a Maths Laboratory

Is the dullness in Aso Rock communicable undecided

3 Likes 1 Share

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by ItuExchange(m): 10:27am On Apr 13, 2016

Isn't that good, so that the future generation would inherit debt?

Neteller here: .com.ng

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Neyo230(m): 10:28am On Apr 13, 2016

God will see Nigeria through dis Hard times, Nigeria will be great again.
God Bless Nigeria!
God Bless PMB!

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by MadCow1: 10:29am On Apr 13, 2016

The Entire Civil Service (Both federal & State) is over staffed with over 75% inefficient Buffoons because they did not get employed on merit but on 'I'ma mmadu' a.k.a Connection.

Also because subsequent Governments in their cluelessness on how to go about creating jobs ends up just employing more people into the Civil Service.

Also, Duplicity of functions and agencies.. Imagine that we have WAEC, GCE & NECO all basicaly doing the same thing. Why not scrap NECO and GCE and leave only WAEC to handle SSCE examinations.. Scrap JAMB is Post JAMB is going to be there. Why write 2 SSCE and 2 JAMBs to gain admission?

Why have Federal Road Safety and and still have Vehicle Inspection Officers.. undecided

Duplicity of a function that can be handled by the same agency.

And it continues like that through out the entire Civil Service.

That is why they would need to borrow money to pay these people for doing absolutely nothing.

3 Likes 1 Share

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Emekamex(m): 10:29am On Apr 13, 2016

It is quite candidly moronic to borrow to pay salaries as that puts you more in debt as those funds bear no yield at all.

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Nicepoker(m): 10:30am On Apr 13, 2016

Buhari is a beggar.

4 Likes 1 Share

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Trailblazer1(m): 10:30am On Apr 13, 2016

MadCow1:
The Entire Civil Service is over staffed with over 75% innefficient Buffoons because they did not get employed on merit but on 'Ima mmadu' a.k.a Connection.

I suggest they sack the entire civil service to prevent Buhari from borrowing undecided

anything to defend the borrowing dullard is welcome

madcow

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by TheFreeOne: 10:36am On Apr 13, 2016

How much is our annual budget that the FG will borrow that much for salaries

Idontbelieveit.

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Mikehell(m): 10:37am On Apr 13, 2016

Dis government is heading towards a deep ocean they cant swim.......

FYI; tighten your seat belt and get ready for the long bumpy ride

4 Likes 1 Share

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Fadman4real(m): 10:37am On Apr 13, 2016

MadCow1:
The Entire Civil Service (Both federal & State) is over staffed with over 75% inefficient Buffoons because they did not get employed on merit but on 'I'ma mmadu' a.k.a Connection.

Also because subsequent Governments in their cluelessness on how to go about creating jobs ends up just employing more people into the Civil Service.

Also, Duplicity of functions and agencies.. Imagine that we have WAEC, GCE & NECO all basicaly doing the same thing. Why not scrap NECO and GCE and leave only WAEC to handle SSCE examinations.. Scrap JAMB is Post JAMB is going to be there. Why write 2 SSCE and 2 JAMBs to gain admission?

Why have Federal Road Safety and and still have Vehicle Inspection Officers.. Duplicity of a function that can be handled by the same agency.

And it continues like that through out the entire Civil Service.

That is why they would need to borrow money to pay these people for doing absolutely nothing.

Sack the whole civil service staff smh talking trash

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Gguy4real: 10:38am On Apr 13, 2016

Wow welcome to government of change, you voted for change and you have seen change so why complaining...u don't need to complain just dey change dey go with borrowed borrowed money and our dear presido dey travel everyday by day hahahah....I can't help but laugh long live GEJ and long live Nigeria

1 Like

Re: FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF by Nobody: 10:39am On Apr 13, 2016

Gguy4real:
Wow welcome to government of change, you voted for change and you have seen change so why complaining...u don't need to complain just dey change dey go with borrowed borrowed money and our dear presido dey travel everyday by day hahahah....I can't help but laugh long live GEJ and long live Nigeria

GEJ borrowed too to pay salaries.

Fact.

http://www.aljazeera.com/news/2015/05/150506055148505.html

So...you think GEJ was jsut as bad as Buhari was too....

1 Like

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