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Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) - Politics - Nairaland

Nairaland Forum / Nairaland / General / Politics / Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) (26235 Views)

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Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by sixtuschimere: 4:43pm On Oct 25, 2016
President Buhari has sent a letter to NASS requesting for N1trillion from NASS for Supplementary Budget.

See photos above


Source: http://www.trezzyhelm.com/2016/10/pmb-requested-for-n1trillion-from-nass.html?m=1

2 Likes 3 Shares

Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by Nobody: 4:49pm On Oct 25, 2016
This is suspicious. Asking for so much money two months to the end of the year. The National assembly should demand for the audit of FGN account in the past nine months before considering this fresh request for more money. How much did we earned as revenue, How much was borrowed and how much was spent. What has happened to the "recovered looted funds". What happened to the so call N6trillion budget of change? Economically, it has been a wasted year for Nigeria......and most Nigerians

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by stiyke(m): 4:50pm On Oct 25, 2016
Wait oohh so them don spend budget finish?? Where? when? how? shocked shocked

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by digoster(m): 4:52pm On Oct 25, 2016
Abeg.. Where is the real 2016 budget?

6.2 trillion naira, yet nothing to show for it,

Buhari has gone mad

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by Sweetguy25: 4:58pm On Oct 25, 2016
What a shame. The president was just wailing and admiting its failures in his letter...
Virement my ass

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by Mikehell(m): 4:58pm On Oct 25, 2016
Which way to go biko?.... 1trillion for supplementary budget for 2016 with two month left for 2016 to pass grin grin grin grin grin grin

Pls tell me dis is a joke or probably 2016 budget will expire by may 2017

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by Mikehell(m): 4:59pm On Oct 25, 2016
Sweetguy25:
I don't understand

Iyam not understanding either oooo grin grin grin grin grin

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by Decodedp: 5:01pm On Oct 25, 2016
And they told us that zero budgeting is the next best thing after slice bread and tea grin

The back and forth continues

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by TheDevilIsALai: 5:03pm On Oct 25, 2016
Last year he requested and got an additional 2 trillion claiming the 2015 budget was not realistic in terms of funding even though he abandoned all existing capital projects and ran the country for 6 mths with no additional expense that will occur if ministers were appointed.

Now his record fail budget of 6.2 trillion is to be jacked up to 8 2 trillion with this supplementary budget.

Can there be anything tangible on ground that can show for this reckless budget?

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by eyeview: 5:10pm On Oct 25, 2016
This is wickedness of the highest order. What do they have to show for the 6.2 trillion released about 6 months ago.
This is very heartless. Now they need an additional 1 trillion for the remaining 2 months of 2016 with no visible capital project to celebrate.
God please take this man away,he is a liability to the real growth of this nation

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by Keballl: 5:13pm On Oct 25, 2016
Hahaha hahaha !! It's no longer GEJ fault.

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by chemicalDisease: 5:14pm On Oct 25, 2016
Have they implemented 2016 budget?

y requesting for additional money?
Buhari is the father of corruption.

58 Likes 1 Share

Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by benedictnsi(m): 5:15pm On Oct 25, 2016
Keballl:
Hahaha hahaha !! It's no longer GEJ fault.

It was never his fault bro..... Weaker people always look for flimsy excuses .....


Now how is this one fighting corruption

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by Keballl: 5:17pm On Oct 25, 2016
benedictnsi:


It was never his fault bro..... Weaker people always look for flimsy excuses .....


Now how is the one fighting corruption

I wonder what happened to the trillions in TSA and those saved from not paying Petrol subsidy? LOL.

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by TheDevilIsALai: 5:18pm On Oct 25, 2016
12Monkeys:
For 6yrs, the Jonathan administration was able to maintain a stable forex rate for the naira which hovered at around 156 to the USD.

This feat was achieved through a steady supply of forex sales into the local economy by the CBN .

The last immediate Governor of the CBN, by estimation, provided $100bn to local businesses during his 5yr stint.

This huge amount was made possible due to high oil receipts to govt coffers buoyed by a strong and growing confidence in our economy.

The naira began its decline through a deliberate and well thought out policy move by the CBN to devalue it on the heels of lowering oil prices.

The naira then saw a dip to 178 naira during the twilight years of the past administration in the closing quater of 2014. This policy was borne out of both necessity and commonsense.

Further decline in the naira was recorded in the buildup to the 2015 general elections not out of fiscal constraints but owing largely to an unstable political atmosphere. Investors being rightfully wary of the careless rhetrioc and threats of unleashing violence by the opposition party and it's candidate (just as Buhari promised and executed in 2011 after he lost out), led to most investors fleeing for safety. The stock market was heavily hit and the naira was not spared as well which saw the naira dipping to as low as 210 to the USD.

After the vagabonds secured their mandate in May, 2015 the naira gradually regained some value to 199. This wasn't out of any economic masterstoke by the Buhari adminstration but merely due to the fact that Nigeria had survived one of her most tense political situations in her history.

This value remained stubbornly and artificially stagnant for over one year leading to the greatest disparity between the official rates to that of the parallel market.


Fig 1: Naira trend from Jan 2011 to May, 2015


The politics of the naira had now taken precedence over the economics of its true value

Despite several calls to float the naira, the arrogating mediocre at the helms refused to do the needful.




The naira took several hits further when the man at the helms refused to announce a cabinet and issue any economic road map. Rather, the man in charge went on a global pilgrimage tour prophesying his mythical Puritan sainthood while denouncing his fellow country men as indisciplined criminals and preaching to whoever had time to waste that Nigeria was broke. If there was ever a worst demarketing agent, here came Buhari to out shadow him at the task of rubbishing our nation to which he was elected to promote.

The Buhari govt will then set out to try old and discarded rubbish fiscal policies that have never worked and will never work in trying to buoy his artificial currency. He introduced import restrictions on items without providing insentives to promote alternatives within our local manufacturing sector. He isolated our economy from the rest of the world by introducing silly restrictions on individual consumption and use of their ATMs while abroad and on the net. He favored his cronies and family members with subsidized forex gotten from the CBN with a note from him which they dumped on the parallel market to get huge returns. He then decided to stop all ongoing govt projects and payments to contractors in order to keep our foreign reserves hovering at $26bn (down from $30bn he inherited on May,29).

Not stopping there, he squandered much needed forex in compensating his theiving governors who supported him in the last election. I know you will say that both APC and PDP controlled states got a bailout but why should Osun state get a bailout of 40bn naira - an amount 400% higher than the next highest state recipient! The osun bailout was nothing but anavenue to compensate Bola Ahmed Tinubu since the rascal governor of osun did not use the huge sum - which amounted to a year's earnigs for the state to offset owed civil servants' salaries.



Fig 2: the Dullard's voodoo tricks effect on the naira

Not only did he squander the LNG funds in compensating his theiving accomplices, he forced banks through his bailout agreement to reschedule debts owed by states. This led to a huge shortfall in liquidity flows to banks since the states where their biggest debtors. The antecedents were shaky banks that led to a lot of branch closures, staff retrenchment and a spike in interests rates further contracting the economy.

The dullard will later apply for a 2 trillion naira supplementary budget based on loans in late November , 2015 claiming the inherited budget he met "was no more feasible in light of harsh economic realities". Now what exactly did he do with the 4.5 trillion budget and the additional 2trillion naira supplementary budget for 2015? Not a damn thing!

It gets worse. In early 2016, the dullard issued another draconian decree on our economy restricting forex sales to local manufacturers; declaring they "source forex from other sources" - the black market to be precise which his cronies where now supplying forex to. This saw the naira crashing at well over 320 to a dollar.

So who exactly is our forex for since Buhari has restricted virtually every one but himself, his cronies, family members , political jobbers and newly acquired business affiliates to forex access ?

As things stand now our foreign reserves is just sitting fallow in foriegn bank accounts servicing foreign interests and businesses.

So who in God's holy name does our foriegn reserves epp?

Buhari is set to spend a whopping 8.2trillion naira in 2016.

He jacket up the inherited 2015 budget with a request for additional 2 trillion mainly source from loans.

What can we credit buhari doing in 2015?

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by Badgers14: 5:19pm On Oct 25, 2016

grin
Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by daamazing(m): 5:20pm On Oct 25, 2016
see figures 6 billion, 8 billion, 1 trillion, make dem just put the money for MMM,e go double.
meanwhile una president dey dress o

37 Likes 1 Share

Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by steppin: 5:20pm On Oct 25, 2016
Requesting for money he won't utilize properly.

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by austine4real(m): 5:20pm On Oct 25, 2016
grin grin

a.bo.ki na thief grin grin

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by Nobody: 5:20pm On Oct 25, 2016
grin grin grin grin

Paragraph 3 = coincide with the bombing of Chevron's pipeline today grin
Second to last parapgraph = looks fraudulent grin

The House should approve and let his devaluation policy benefit all those he wants to enrich...Useless government embarassed embarassed embarassed
So what if we were paying subsidy, then the request would amount to N3trn shocked

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by TheDevilIsALai: 5:20pm On Oct 25, 2016
ShinnBet:
You will recall that back in 1984 buhari was more interested in repaying foreign debts than investing in any crucial infrastructure.

This led to a legacy of an economy in recession with virtually no capital project executed under the 20mth despotic reign of Buhari.

Fast forward today and we see buhari doing the same thing.

Can any of you mention one project undertaking by this scam government since it was sworn in?

Can anybody recall what exactly he utilised the 2 trillion naira supplementary budget he applied for and got in November, 2015 alongside the inherited 4 trillion naira budget of the last administration?

Believe me when I tell you that this govt on every scale and indices is by far the most corrupt ever in the history of Nigeria.

The 2016 scam budget which has been dodged with so many controversies of padding by the executive, blame trading and outright blackmail of the national assembly is meant to be siphoned by this same scam agents with nothing on ground to show for. [size=18pt]And you can bet your last cup of garri that buhari will apply for another supplementary budget before the year runs out.[/size]

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by DeltaOil: 5:20pm On Oct 25, 2016
My wahala be say!

President Buhari is borrowing money on the whole country to develop the north.

Meanwhile the whole country is owing.

And they that get so much money, do not contribute anything to Nigeria.

36 Likes 1 Share

Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by Splashme: 5:20pm On Oct 25, 2016
[size=15pt]What did this moruns do with this year's 6.8 trillion?

This Buhari/APC govt are laughable, I swear!!
[/size]

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by dfrost: 5:20pm On Oct 25, 2016
How are these docs leaked to the public? Na wao. These things can easily cause panic in the system.

1 Like 1 Share

Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by NaLaugh: 5:20pm On Oct 25, 2016
What would you do if the money gets approved, but then accidentally transferred to your bank account? cheesy

2 Likes

Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by otukpo(f): 5:21pm On Oct 25, 2016
Na so dem dey chop our yams.

16 Likes 1 Share

Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by AllTheWayUp: 5:21pm On Oct 25, 2016
[size=30pt] grin


Buhari thief
[/size]

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by Dandsome: 5:21pm On Oct 25, 2016
Thief of the highest order

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Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by Lanre4uonly(m): 5:22pm On Oct 25, 2016
This is serious. Yet, there is no positive impact on the economy with all the outrageous figures.

16 Likes 2 Shares

Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by TippyTop(m): 5:24pm On Oct 25, 2016
Ok
Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by xnsandrxns: 5:24pm On Oct 25, 2016
How about that? grin
Now let's see how the zombies will defend this

8 Likes 2 Shares

Re: Buhari Requests For N1trillion From NASS For Supplementary Budget(photos) by IPOB123london: 5:25pm On Oct 25, 2016
the most corrupt government loading

the difference is just [b ] chopping alone in the night [/b] Bubhu haria and his cattle grazer crew

they know!

if na lie watch Aisha well well

10 Likes 2 Shares

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