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Nairaland Forum / Nairaland / General / Politics / #2016Budget: FG Unveils 34 Priority Projects (23457 Views)
FG Unveils Solar-Powered Electronic Voting Machine Ahead Of 2019 Elections / 2016 Budget: FG Unveils 34 Priority Projects / Deleting Priority Projects Of A Govt Is An Economic Crime - Wole Solanke (2) (3) (4)
Re: #2016Budget: FG Unveils 34 Priority Projects by rusher14: 10:24am On May 05, 2016 |
Jesusloveyou: Hallelujah. 1 Like 1 Share |
Re: #2016Budget: FG Unveils 34 Priority Projects by lanicky(f): 10:33am On May 05, 2016 |
. 1 Like 1 Share |
Re: #2016Budget: FG Unveils 34 Priority Projects by 88natzy(m): 10:34am On May 05, 2016 |
Not bad if He visits France, Germany or Spain. Let him sign the Damn budget. Its bn long overdue. |
Re: #2016Budget: FG Unveils 34 Priority Projects by Wadasco(m): 10:44am On May 05, 2016 |
Go PMB Go |
Re: #2016Budget: FG Unveils 34 Priority Projects by opineflu(m): 10:46am On May 05, 2016 |
policy here and there,make them start implementation jae. I tire for this medialistic government. |
Re: #2016Budget: FG Unveils 34 Priority Projects by adconline(m): 10:51am On May 05, 2016 |
dgr8truth:Most importantly, OBJ, Yar'dua and GEJ did it with N4tn, but GMB increased the budget by 50% to N6tn and still pegs capital expenditure at 30%. So a good budget from a serious minded govt would have been 50% capital project. There is no need borrowing to balloon recurrent expenditure-chop money by 50% |
Re: #2016Budget: FG Unveils 34 Priority Projects by waziri4biz: 10:51am On May 05, 2016 |
Soulmate05:is it that all u do in forum is 'wailers and zombies' do u ever scrutinize anything before you make judgements.For its all about APC and PDP whether APC are on the right track does bother u as long as Boooohari is on the throne.mtcheeeeeeeew |
Re: #2016Budget: FG Unveils 34 Priority Projects by MrCounselor: 10:56am On May 05, 2016 |
[size=18pt]Hoping for the best while expecting the worst...[/size] |
Re: #2016Budget: FG Unveils 34 Priority Projects by Vveni(m): 10:58am On May 05, 2016 |
My only prayer is that we should not be made to wait additional 6 months for the budget to be passed only to have exactly what we waited 6 months earlier for, given to us: Noise making Ministers. No to Noise making budget ejoor o |
Re: #2016Budget: FG Unveils 34 Priority Projects by Mojoy88(m): 10:58am On May 05, 2016 |
dgr8truth:Judging from the fact that the APC 2016 budget with is about #6.6trillion, 30% allocated to Capital expenditure in my candid view is laudable. The previous Administration which experienced boom in oil market had budget of #4.695trillion, #4.962trillion, and 4.358trillion in 2013, 2014, and 2015 respectively. Capital expenditure for years is #1.119trillion (20%), #1.59trillion (24%), and 387.15 billion respectively. The first question you should ask how come APC was able to increase the total budget to by about #2trillion despite the state of world oil market. It is a matter of time, Nigerians will know that true change is here. 2 Likes |
Re: #2016Budget: FG Unveils 34 Priority Projects by yaki84: 10:58am On May 05, 2016 |
obailala: She said: “There is also plan to complete the Kaduna-Abuja-Ajaokuta railway lines in 2016. We are also revising the National Rail Masterplan which is commencing construction of the Lagos- Kano standard Gauge Rail line and also to finalise the negotiation regarding the Calabar-Lagos rail line. Of course the objective of this is to increase availability of mass transit, to reduce pressure on road infrastructure. did u read this part! why negotiation regarding calabar-lagos rail line? thought everything was concluded before it was sent to the senate for approval? this is d same project that people abused, accused, tagged pdp senators evil, playing politics of hatred n dat same project is now being negotiated. |
Re: #2016Budget: FG Unveils 34 Priority Projects by adconline(m): 11:09am On May 05, 2016 |
Mojoy88:The answer is that the govt is borrowing about 40% of the total money.. The govt reduced rhr ministries by half and still increased the cost of running govt by 40%.. There is N500bn budgeted for special program to be spent at GMB's discretion.. There is no minster nor an administrator for this fund. Meanwhile ministries of works and housing, education all will allocation of about N400bn.. So actual ministries got smaller allocation than non-existing minstry |
Re: #2016Budget: FG Unveils 34 Priority Projects by obailala(m): 11:12am On May 05, 2016 |
yaki84:Is this a question or is this a statement?... What is difficult to understand in the statement that final negotiations are being made for a project?.. Negotiations are still being made on how to finance and execute the project, meanwhile some funds have been set aside in the budget for the project in 2016; what is so confusing to you about this? |
Re: #2016Budget: FG Unveils 34 Priority Projects by youngeagle(m): 11:23am On May 05, 2016 |
I hope they won't deny this...we have heard enough |
Re: #2016Budget: FG Unveils 34 Priority Projects by Missonas(f): 11:32am On May 05, 2016 |
This govt should surprise us with action and leave talk #talknado |
Re: #2016Budget: FG Unveils 34 Priority Projects by dgr8truth(m): 11:40am On May 05, 2016 |
Mojoy88: The balance that is now being sort for, that total about 2trillion naira, is it for capital expenditure? I'm confident You know the answer. |
Re: #2016Budget: FG Unveils 34 Priority Projects by Sweetguy25: 11:55am On May 05, 2016 |
Like Mike Tyson said - "Everybody has a plan until they get punched in the face"... Buhari's government is still making plans one years after it was sworn in. |
Re: #2016Budget: FG Unveils 34 Priority Projects by techJ: 12:35pm On May 05, 2016 |
luvinhubby: You and your principals want the promises to be propaganda and that is why your agents in NASS have been frustrating the budget all along trying to remove key projects and creating loop holes so your principals can siphon funds from there. Don't worry, when it is finally signed and implemented, all you wailers will also be beneficiaries. 3 Likes |
Re: #2016Budget: FG Unveils 34 Priority Projects by Omonigeriarere: 12:51pm On May 05, 2016 |
DONMAYOR19: I regarded your thinking as objective until I got to the bolded part where it seems unintelligent. A government has not implement a budget and you have regarded the regime as failure: on what basis if I may ask? If you have a personal problem with APC led government, it is better for you to identify it and sort it out instead of relying on prematured evaluation. 1 Like |
Re: #2016Budget: FG Unveils 34 Priority Projects by Mojoy88(m): 1:11pm On May 05, 2016 |
adconline:May be you should go check the debt profile of GEJ despite having a boom oil market. He allocated a huge amount for security in 2015 and yet still borrowed for the same reason. Well, we all know the story now. There is hardly no economy without debt but it should be healthy. Any borrowing for capital expenditure is a social investment which will have positive effect on the economy in the long run. But borrowing for recurrent expenditure is nothing but a debt which might turn bad. Track back PDP's debts and see why they were incurred. As for the #500billion social relief fund, it is never ministry-less. It will be handled by various ministries which i know ministry of education is one of them. 1 Like |
Re: #2016Budget: FG Unveils 34 Priority Projects by Natotogokillme: 1:21pm On May 05, 2016 |
Re: #2016Budget: FG Unveils 34 Priority Projects by luvinhubby(m): 1:30pm On May 05, 2016 |
techJ: Presidency - APC NASS -- APC So who is frustrating who? 1 Like |
Re: #2016Budget: FG Unveils 34 Priority Projects by adconline(m): 1:31pm On May 05, 2016 |
Mojoy88: You just contradicted urself. Debt to GDP ratio is going up now since FG decided to absolve debt portfolio of states into FG's debt portfolio... Out debt stockpile is going while our GDP is contracting.. Recession is staring us in our face. Another discussion for another day FG is borrowing for recurrent expenditure since you didn't know that.. Just the presidency increased its budget by N15bn when such huge amount could been used in providing permanent shelter to women and kids in IDP. Ministries reduced from 40 to 19 yet cost of governance is higher than it was when we had 40 ministries-how come? N30 out of every N100 will be spent on capital project when the government is borrowing about N45 out of every N100 to fund the budget. So where doed the borrowed N15 go?? chop money for Politrickians. |
Re: #2016Budget: FG Unveils 34 Priority Projects by Mojoy88(m): 1:33pm On May 05, 2016 |
dgr8truth:[quote author=dgr8truth post=45333023] I didn't mean the balance is meant for Capital Expenditure, what I meant was that the moping up of funds, opening of other revenue bases and fixing the various leakages through the fight against corruption cum "healthy" borrowing ensured that the budget overshoots the previous budgets despite the disadvantageous situation we find ourself. And from my calculation if am not wrong, 30% of #6.6trillion is about #1.98trillion which is almost the #2trillion balance. |
Re: #2016Budget: FG Unveils 34 Priority Projects by mikolo80: 1:40pm On May 05, 2016 |
dgr8truth:una go gree make we sack half of civil servants |
Re: #2016Budget: FG Unveils 34 Priority Projects by Mojoy88(m): 2:15pm On May 05, 2016 |
adconline:You and me know that the debt is a spillover effect of the past administration's policy of 'let's focus on oil money' which got the most states busted when the oil price crashed. It was necessary as civil servants are crying hard (visit Osun state and see for yourself). I think it is an attempt to help the state be on the balance to start the change policy. I admit that the GDP was very fine under GEJ, but hey! what's cool about the GDP when the people are 'screwed'. It doesn't reflect in the live of most Nigerians. Yeah! the debt-GDP rate may be increasing but hey! we are moving from worse to bad and from bad to good. Mind you, this is just the first budget which is for a financial year and not for the whole term. The increase in governance despite the reduction in ministries may be an effect of inflation and exchange rate and I think the many planned trips of PMB is the reason why Presidency has higher figure budgeted compared to GEJ's tenure. And on a light note, #53billion squandered by GEJ in 2011 to celebrate our independence could have been used to construct the second Niger bridge. And common, why analysing the economy with your #100, #45 illustration when you know it is more logical than that. You are an intellectual and should not think like that. Lets be hopeful they implement their change policy and bring sanity back to the country, we shall hold them by their words come 2019. One love bro! 1 Like |
Re: #2016Budget: FG Unveils 34 Priority Projects by aperture11: 2:31pm On May 05, 2016 |
dgr8truth:Actually bro, the figure was 91% recurrent and 9% capital expenditure for 2015. Here is a link and please read through properly. I do think that because of the time the budget is being passed and some unforeseen forces, budget performance could be less than 60% and that means it isn't too far from the GEJ era. http://www.premiumtimesng.com/news/headlines/173682-budgit-analysis-2015-budget-shows-nigerian-govt-not-committed-austerity-measures-oil-price-falls.html |
Re: #2016Budget: FG Unveils 34 Priority Projects by OLUWAFUNMISE(f): 3:15pm On May 05, 2016 |
Thanks before they will finish everything quote author=SeverusSnape post=45324661]Don't forget to Pay your Charlatans their 5,000 stipend. And provide those masquerade jobs. [/quote] |
Re: #2016Budget: FG Unveils 34 Priority Projects by Chukzyfcb(m): 4:22pm On May 05, 2016 |
GambaOsaka: Corruption isn't the only thing my guy. Generation of funds will be a major headache. The projections for which the budget is to be funded lies on - dollar $1/197naira - 2.2m barrel production - price of Oil at $38/barrel - GDP growth @ about 4.7% - non oil revenue of about 3trillion With the way our GDP is falling + volatile oil price , achieving that sum of 3trillion will be tough! |
Re: #2016Budget: FG Unveils 34 Priority Projects by dondo83(m): 5:18pm On May 05, 2016 |
dgr8truth: 500billion was earmarked in 2015 budget. 2016 is 1.8trillion . ....meaning multiply 500 by 3 and also have 300 billion left |
Re: #2016Budget: FG Unveils 34 Priority Projects by techJ: 5:44pm On May 05, 2016 |
luvinhubby: Bro, I am not talking about part. I am talking about the select few who are hell-bent on keeping Nigerians in a perpetual state of poverty. |
Re: #2016Budget: FG Unveils 34 Priority Projects by adconline(m): 6:23pm On May 05, 2016 |
Mojoy88:Sorry bro! I have small brain and I love to break figures down. Instead of 30% capital budget, why dont u tell a businessman on a budget that he's going to spend N100 in a month, N60 would come from his pocket while N40 would be borrowed. Then he would use N70 to pay for drinks, church/mosque dues, paying his office assistant and then would invest only N30 in buying his goods.. Meanwhile, borrowed N40 attracts an annual interest of 15%. He will be bankrupt in a month! |
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