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Nairaland Forum / Nairaland / General / Politics / Guessing How N2.2trillion Was Spent (569 Views)
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Guessing How N2.2trillion Was Spent by Standing5(m): 12:50am On Sep 27, 2016 |
For those who expect the minister of finance to have details of how trillions is spent on her finger tip, here is a guess of mine on how it was spent. Here FG promises to release N350B for various projects in May: https://www.nairaland.com/3105913/fg-releases-n350b-capital-projects And here N280B was released in June as part of the N350B promised https://www.nairaland.com/3167016/fg-releases-n280b-capital-projects Couple this to the fact FG pay at least N159B monthly as wages and basic recurrent expenses http://leadership.ng/news/545336/fg-spends-n159bn-on-salaries-monthly-adeosun |
Re: Guessing How N2.2trillion Was Spent by Standing5(m): 12:52am On Sep 27, 2016 |
In addition to the present govt's use of funds, I recommend this link for reference on how our recurrent bill increased astronomically http://naija247news.com/2014/01/high-recurrent-expenditure-responsibe-salary-increase-fg/ Excerpts from the last link The Minister of Finance, Dr. Ngozi Okonjo-Iweala, on Monday blamed the high recurrent expenditure pattern in the 2014 budget on the increase in the salaries of workers. Iweala said this also:
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Re: Guessing How N2.2trillion Was Spent by ojmaroni247(m): 12:53am On Sep 27, 2016 |
Isorai |
Re: Guessing How N2.2trillion Was Spent by ivandragon: 6:36am On Sep 27, 2016 |
I don't think it would have been so hard for her to say; '... of the N2.2t borrowed so far, we have spent over N600b on infrastructure especially roads, rail, agriculture & power projects... we have also used it to supplement salaries...'. except if that was not what the money was spent on... 3 Likes |
Re: Guessing How N2.2trillion Was Spent by Johnpaul2k2(m): 7:16am On Sep 27, 2016 |
is this the only quote from Okonjo Iweala you frustrated Apshit hungry fans use when any gross misconducted issue from this administration come up? 2 Likes |
Re: Guessing How N2.2trillion Was Spent by Nobody: 7:42am On Sep 27, 2016 |
Johnpaul2k2: the op is just like their dunderhead boss 3 Likes |
Re: Guessing How N2.2trillion Was Spent by Chubhie: 7:50am On Sep 27, 2016 |
The Op deserves to replace both Kemi and liar Mohammed. 1 Like |
Re: Guessing How N2.2trillion Was Spent by SamuelAnyawu(m): 7:52am On Sep 27, 2016 |
How much was allocated to APC e-warriors? How much was allocated to APC chieftains? 2 Likes |
Re: Guessing How N2.2trillion Was Spent by Nobody: 7:55am On Sep 27, 2016 |
very Silly from a rebarbative zombie. Here are the words of the finance minister stating that the sole purpose of borrowing was to finance capital expenditure [url=https://www.thecable.ng/nigeria-has-no-other-option-but-to-borrow-says-adeosun?_e_pi_=7%2CPAGE_ID10%2C8275813569]“The difference is, we’ve been borrowing in the past to pay salaries; now we borrow to invest,” she said.[/url]so this nullifies your silly hyperbole on govt spending. The internally generated revenue is sufficient for recurrent expenditure. So going by the words of the finance minister, the 2.2trn was borrowed for capital projects. and the question still stands, what was the funds used for?? FG claimed to have disbursed over 600bn for capital projects and we are still waiting to see the capital projects except the wasted 40bn on oil exploration. A finance minister, guessing whether the 2.2trn funds was used to fund the budget or other things that govt may have spent it on is inordinate. 2 Likes 1 Share |
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