Today, I was reading one the national dailies and I read Henry Boyo's columnEconomic Renaissance. The Man is, without doubt, an acme of an economic master. Some of the points I could point out include:

1. 2017 budget is a rushed budget; take it or leave it: "the success of any fiscal plan will correlate with level of attention to details in the budget process." This budget without "meticulous planning" is just a replica of other failed budgets.

2. The capital vote of N2.24tn is not the largest ever capital allocation (in real value terms): In the past one year we have recorded huge fall in the price of naira against dollar. with the current exchange rate of N500 to $1, the real money value of the capital allocation is smaller than the previous year's when the dollar rate was way lesser and bearable. This infact speaks volume as Nigeria may be visit the LOAN market.

3.The Education allocation is very low- a meagre <6% was given to the education sector as against 26% recommendation by UNESCO. AT what time will our lawmakers see the IMMEASURABLE VALUE OF EDUCATION TO NATION BUILDING? This is entirely lugubrious with 143+ universities, many other tertiary institutions not even found on the global ranking table. we need a revolution!

4. The proposed 7.3tn Budget may lose 20% of its value to inflation.

5.Are you really included in the budget? I am waiting for the time where there will be Human Development allocations, Startup funding and SMEs allocation well spelt out and not concealed under some "flowery phrases" engineered by "you-know-whos."
[color=#000000][/color]

We can only remain optimistic. Fellow Nigerians, what do you think can be done to improve the situation?

Special Thanks: Henry Boyo for his article," The dark side of the 2017 budget."

I remain theolajide.
Lalasticlala, Please forward it to frontpage for maximum participation of all Nigerians

All i know is that anothet scam is to be unfolded before us.

Buhari is hoping on another unrealistic source of funding the 2017 budget through IMF loans paid out in USDs.

What Buhari doesnt know is that China has been dumping US treasury bills and debt like it was hot coals in preference to Gold.

Russia has also ramped up their reserves by dumping the same USD in preference to Gold. Russia just last week bought $3bn worth of Gold.

As things stand now, the US dollar is heading for a major crash with Gold prices expected to spike which will lead to a spiraling recession in the US all stemming from Obama's mounting debt and aggressive posture towards Russia.

Obama is desperate to escalate tensions and start a world war with Russia before he leaves office to mask his ponzi scheme economic growth.

All that said, the dollar will soon be worthless.

Who you think say wan rejoice because of the budget ??

You see the buhari they called their messiah.

I said from the first day, do not trust nigerian leader. The worse thing is that he is general like other destroyers of the country.

He even perform by far less than expected. This is a man that contested for presidency four times.

But voting apc was good decision, at least the pdp that held nigerian down for 16 years was pushed out.

I agree with many of your points especially Education, why would they allocate a hue amount to a sector they know if it works wouldn't allow them to be corrupt because everyone is well educated and knows his or her right.
From past experience we all know that the so called budget is a scam, no credible feasibility studies, they just use it to cover up their paddings, sorry for this country.
They are incompetent fools creating that budget, that don't even know how to do risk mitigation to cater for inflation and falling naira value.

God abeg save us frm dis illiterate leaders

ok

So

You can FOOL all the people sometime and in Nigeria you can FOOL ALL the people ALL the time

Propaganda is successful when a populace is uneducated and unenlightened and the so called elite have cut their deals.

notice that the budget for education over successive governments has been relatively miniscule, this is no coincidence

Lol


Nigeria use to be smart, but those government are proving more smarter, take it or leave it

#500 to one dollar? I thought they said it was coming down!!!

IBBG:
God abeg save us frm dis illiterate leaders

And the citizens are not illiterates?
How do you describe people who buy private jets for fake pastors and become enslaved to a religon founded by a paedophile terrorist?
How do you describe people who know they cannot feed children but have them in abundance anyway?
How do you describe people who employ low level chinese, indian and Lebanese immigrants and call them master?

If you want to know the problem of Nigeria look at the average citizen!

I'm just praying for this administration to end quickly.

Silvereze:
I'm just praying for this administration to end quickly.

You go wait long o!

three:
You can FOOL all the people sometime and in Nigeria you can FOOL ALL the people ALL the time

Propaganda is successful when a populace is uneducated and unenlightened and the so called elite have cut their deals.

notice that the budget for education over successive governments has been relatively miniscule, this is no coincidence

i totally agree with you.

Is this not the supposed budget they said will take Nigerians out of recession already having issues. And its not been looked @by the senate yet. APC and adultrated budget are 2 of a kind.

grodt999:


And the citizens are not illiterates?
How do you describe people who buy private jets for fake pastors and become enslaved to a religon founded by a paedophile terrorist?
How do you describe people who know they cannot feed children but have them in abundance anyway?
How do you describe people who employ low level chinese, indian and Lebanese immigrants and call them master?

If you want to know the problem of Nigeria look at the average citizen!

chai see finishing

I am amazed at my country-men........

I still remember, when President Jonathan declared a budget of over #4trillion. Pastor Tunde Bakare held a semron which was broadcast live on television with the budget at the centre of the message.

He talked about how Goodluck was preping the future generation for slavery, as the budget was too high, and how he was still going to use the instrument of debt to finance such a ridiculously high budget at over #4trillion.

How he was not afraid to tell the truth, and will never compromise on integrity and how it was the duty of men like him to warn the Nation, to warn the people.

What happened to that duty?

Today, we are talking about a 2017 budget of over #7trillion but yet we heard no noise. Buhari is secretly/openly lobbying to borrow #9.06 trillion (that's $29.6billion @ #306 to the dollar rate. At the parallel market rate of #500 to the dollar, that figure is over #14trillion ) yet nobody is screaming.

Even some of the premises on which the budget was crafted, from the dollar rate, to the inflation rate; all are fictitious and nobody is talking.

Except the National assembly, no-one is really taking the government to task, even Pa Tunde Bakare is silent.

It is well.........

i join the OP to call the budget balderdash. where do they hope to produce 2.2 million barrels a day when them Niger delta boys are still blowing things up.

China on the other hand are not eager to give us the loan because we supported Taiwan; president Buhari has to do something or this budget will fall like Dominoes.

As for education, i knew the president does not give a damn about education when he appointed a professor as minister of state and a layman as substantive minister..how bad can a govt get...in all I HOPE THE MONEY OF THE BUDGET IS WELL SPENDED

I salute Mr Henry Boyo very complete Economist in all aspect of both Macro and Micro,i've watched him speak so many times on TV,i would rate him above Bismark Rewane when it comes to tackling economic issues,i totally agree with him on the 2017 budget,my question is why is the overhead cost still high,when the Ministry of Finance claim it has plugged leakages and dealt with the issues of Ghost workers?aren't we suppose to be seeing a reduction,the Govt claim they included Pensions,were Pensioners not included in the 2016 budget too,were they paid?how many Pensioners are on the Govt payroll since a verification exercise was done in sept 2015 and continued in 2016.
The issue of the value of the Naira too is also a set back to the budget,in reality the value of the 2017 budget in terms of money is probably the same as that of 2014 if not less.
I think the Govt needs a proper alignment of both Fiscal and Monetary policies,and also make room for private sector participation in bringing the economy out of recession by engaging in PPP,Commercialization of viable Govt entities and Concessions,taking a loan now will be counter productive when we are still battling with corruption.

Just watching from behind and I see a lot of gibberish in the 2017 budget and only a fool will b optimistic about the budget.
I just advice Nigerians to have their own budget well plan ; for them not to feel unhappy and disappointed in 2017.

AdoptedSon:
Today, I was reading one the national dailies and I read Henry Boyo's columnEconomic Renaissance. The Man is, without doubt, an acme of an economic master. Some of the points I could point out include:

1. 2017 budget is a rushed budget; take it or leave it: "the success of any fiscal plan will correlate with level of attention to details in the budget process." This budget without "meticulous planning" is just a replica of other failed budgets.

2. The capital vote of N2.24tn is not the largest ever capital allocation (in real value terms): In the past one year we have recorded huge fall in the price of naira against dollar. with the current exchange rate of N500 to $1, the real money value of the capital allocation is smaller than the previous year's when the dollar rate was way lesser and bearable. This infact speaks volume as Nigeria may be visit the LOAN market.

3.The Education allocation is very low- a meagre <6% was given to the education sector as against 26% recommendation by UNESCO. AT what time will our lawmakers see the IMMEASURABLE VALUE OF EDUCATION TO NATION BUILDING? This is entirely lugubrious with 143+ universities, many other tertiary institutions not even found on the global ranking table. we need a revolution!

4. The proposed 7.3tn Budget may lose 20% of its value to inflation.

5.Are you really included in the budget? I am waiting for the time where there will be Human Development allocations, Startup funding and SMEs allocation well spelt out and not concealed under some "flowery phrases" engineered by "you-know-whos."
[color=#000000][/color]

We can only remain optimistic. Fellow Nigerians, what do you think can be done to improve the situation?

Special Thanks: Henry Boyo for his article," The dark side of the 2017 budget."

I remain theolajide.
Lalasticlala, Please forward it to frontpage for maximum participation of all Nigerians

Pretty shallow analysis. Lacks the basic premise of qualifying and quantifying required of a solid critique.

No 1 does not tell us why the budget was rushed nor compares to any specific years that are "failed budgets.

No 2 You again failed to measure the yardstick for arriving at the faulty conclusion. Providing the real value in comparison to a specific period is what is expected here. What parameters of comparison are you using? Inflation? Consumer Purchase Index? FX rates?

No 3 How many nations in the same economic bracket as Nigeria adhere to UNESCO's 26% requirement? How about comparing apples with apples next time? Also in analysis or when crticising, stick to a writing style that does helps you communicate clearly rather than using anarchaic words in the attempt to sound smart.

No 4 You pull out parameters such as 20% inflation just because an Economist said so. Include your corroborating or independent research else you come across as a copy and paste reviewer. 10 Economists can be askee to forecast macro economic scenarios for a situation and all 10 will come up with 10 totally different analysis. You goofed when you could not put up any statistical guide that informed your conclusion.

No 5. Your last conclusion about no SME component is rather faulty considering the numerous opportunities available such as BOI backed programs, N-Power to mention a few that are directly funded by the social inclined budget.

Give your analysis a reboot, this initial one doesn't cut it.

macaphan007:
I salute Mr Henry Boyo very complete Economist in all aspect of both Macro and Micro,i've watched him speak so many times on TV,i would rate him above Bismark Rewane when it comes to tackling economic issues,i totally agree with him on the 2017 budget,my question is why is the overhead cost still high,when the Ministry of Finance claim it has plugged leakages and dealt with the issues of Ghost workers?aren't we suppose to be seeing a reduction,the Govt claim they included Pensions,were Pensioners not included in the 2016 budget too,were they paid?how many Pensioners are on the Govt payroll since a verification exercise was done in sept 2015 and continued in 2016.
The issue of the value of the Naira too is also a set back to the budget,in reality the value of the 2017 budget in terms of money is probably the same as that of 2014 if not less.
I think the Govt needs a proper alignment of both Fiscal and Monetary policies,and also make room for private sector participation in bringing the economy out of recession by engaging in PPP,Commercialization of viable Govt entities and Concessions,taking a loan now will be counter productive when we are still battling with corruption.

how many people on the federal executive council understands all these grammar you're blowing, bujari wants to collect his feeding allowance, osibanjo his library allowance, fashola award borehole project and lawal grass cutting contract. in order words, they want to share the money. even collecting a loan to sponsor N~power is a horrible economic decision.

NIGERIA my Country

AdoptedSon:
Today, I was reading one the national dailies and I read Henry Boyo's columnEconomic Renaissance. The Man is, without doubt, an acme of an economic master. Some of the points I could point out include:

1. 2017 budget is a rushed budget; take it or leave it: "the success of any fiscal plan will correlate with level of attention to details in the budget process." This budget without "meticulous planning" is just a replica of other failed budgets.

2. The capital vote of N2.24tn is not the largest ever capital allocation (in real value terms): In the past one year we have recorded huge fall in the price of naira against dollar. with the current exchange rate of N500 to $1, the real money value of the capital allocation is smaller than the previous year's when the dollar rate was way lesser and bearable. This infact speaks volume as Nigeria may be visit the LOAN market.

3.The Education allocation is very low- a meagre <6% was given to the education sector as against 26% recommendation by UNESCO. AT what time will our lawmakers see the IMMEASURABLE VALUE OF EDUCATION TO NATION BUILDING? This is entirely lugubrious with 143+ universities, many other tertiary institutions not even found on the global ranking table. we need a revolution!

4. The proposed 7.3tn Budget may lose 20% of its value to inflation.

5.Are you really included in the budget? I am waiting for the time where there will be Human Development allocations, Startup funding and SMEs allocation well spelt out and not concealed under some "flowery phrases" engineered by "you-know-whos."
[color=#000000][/color]

We can only remain optimistic. Fellow Nigerians, what do you think can be done to improve the situation?

Special Thanks: Henry Boyo for his article," The dark side of the 2017 budget."

I remain theolajide.
Lalasticlala, Please forward it to frontpage for maximum participation of all Nigerians

when will you stop this pessimism

I just got debited for N700 for stamp duty charges


Which kind wahala be thus bikonu?

This government sha...

Paentera:


Pretty shallow analysis. Lacks the basic premise of qualifying and quantifying required of a solid critique.

No 1 does not tell us why the budget was rushed nor compares to any specific years that are "failed budgets.

No 2 You again failed to measure the yardstick for arriving at the faulty conclusion. Providing the real value in comparison to a specific period is what is expected here. What parameters of comparison are you using? Inflation? Consumer Purchase Index? FX rates?

No 3 How many nations in the same economic bracket as Nigeria adhere to UNESCO's 26% requirement? How about comparing apples with apples next time? Also in analysis or when crticising, stick to a writing style that does helps you communicate clearly rather than using anarchaic words in the attempt to sound smart.

No 4 You pull out parameters such as 20% inflation just because an Economist said so. Include your corroborating or independent research else you come across as a copy and paste reviewer. 10 Economists can be askee to forecast macro economic scenarios for a situation and all 10 will come up with 10 totally different analysis. You goofed when you could not put up any statistical guide that informed your conclusion.

No 5. Your last conclusion about no SME component is rather faulty considering the numerous opportunities available such as BOI backed programs, N-Power to mention a few that are directly funded by the social inclined budget.

Give your analysis a reboot, this initial one doesn't cut it.

You tried but, said nothing!

ehissi:
I am amazed at my country-men........

I still remember, when President Jonathan declared a budget of over #4trillion. Pastor Tunde Bakare held a semron which was broadcast live on television with the budget at the centre of the message.

He talked about how Goodluck was preping the future generation for slavery, as the budget was too high, and how he was still going to use the instrument of debt to finance such a ridiculously high budget at over #4trillion.

How he was not afraid to tell the truth, and will never compromise on integrity and how it was the duty of men like him to warn the Nation, to warn the people.

What happened to that duty?

Today, we are talking about a 2017 budget of over #7trillion but yet we heard no noise. Buhari is secretly/openly lobbying to borrow #9.06 trillion (that's $29.6billion @ #306 to the dollar rate. At the parallel market rate of #500 to the dollar, that figure is over #14trillion ) yet nobody is screaming.

Even some of the premises on which the budget was crafted, from the dollar rate, to the inflation rate; all are fictitious and nobody is talking.

Except the National assembly, no-one is really taking the government to task, even Pa Tunde Bakare is silent.

It is well.........

All GEJ budgets were surpluses.

Even the 2015 budget (the lowest in anticipation of projected crude oil price slump), recorded a surplus of +0.5%.

Buhari has spent well over 6trillion in 2016 as he has requested for extra supplementary funding with over 50% sourced from debt.

This man is a bloody thief

AdoptedSon:
Today, I was reading one the national dailies and I read Henry Boyo's columnEconomic Renaissance. The Man is, without doubt, an acme of an economic master. Some of the points I could point out include:

1. 2017 budget is a rushed budget; take it or leave it: "the success of any fiscal plan will correlate with level of attention to details in the budget process." This budget without "meticulous planning" is just a replica of other failed budgets.

2. The capital vote of N2.24tn is not the largest ever capital allocation (in real value terms): In the past one year we have recorded huge fall in the price of naira against dollar. with the current exchange rate of N500 to $1, the real money value of the capital allocation is smaller than the previous year's when the dollar rate was way lesser and bearable. This infact speaks volume as Nigeria may be visit the LOAN market.

3.The Education allocation is very low- a meagre <6% was given to the education sector as against 26% recommendation by UNESCO. AT what time will our lawmakers see the IMMEASURABLE VALUE OF EDUCATION TO NATION BUILDING? This is entirely lugubrious with 143+ universities, many other tertiary institutions not even found on the global ranking table. we need a revolution!

4. The proposed 7.3tn Budget may lose 20% of its value to inflation.

5.Are you really included in the budget? I am waiting for the time where there will be Human Development allocations, Startup funding and SMEs allocation well spelt out and not concealed under some "flowery phrases" engineered by "you-know-whos."
[color=#000000][/color]

We can only remain optimistic. Fellow Nigerians, what do you think can be done to improve the situation?

Special Thanks: Henry Boyo for his article," The dark side of the 2017 budget."

I remain theolajide.
Lalasticlala, Please forward it to frontpage for maximum participation of all Nigerians

1)Don't allow obailala meet you criticizing Buhari

2) Correct your No 3 point...it is the fault of executive viz Buhari not lawmakers plz...

3)7.7trillion budget which APC and Buhari mischievously claims is highest budget is BIG LIE... because in terms of value; 2016 budget which wasn't implemented Upto 10% is around $30billion while 2017 is around $24billion. so where's the increase? we rather had reduction. FEAR APC

4)Other points are germane