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Corruption Now Walks On Two Leg In This APC Regime - Politics - Nairaland

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Corruption Now Walks On Two Leg In This APC Regime by Biafrareform(m): 8:37am On Oct 09, 2017
Jonathan's Budget. 4 Years.

2011 - N3.9 Trillion
2012 - N3.5 Trillion
2013 -N4.9 Trillion
2014 - N4.6 Trillion
TOTAL - N16.9 Trillion.

Result:
Progress in all Sectors and money in pockets of ordinary people.
Africa's biggest economy. 3rd fastest growing economy in the world.

Buhari's Budget. 2 Years.

2016 - 6.6 Trillion
2017 - 7.8 Trillion.
Total - N14.4 Trillion.

Result:
1) Recession.
2) Acute Hunger in the Land.
3) Massive looting for Buhari’s re-election.
4) Huge Borrowing and no project to show for it.
5) Economy in comma.
6)Transferring capital projects to next year as they can’t find them.

I'm not an economist, but I understand the meaning of Budget Estimate and Planning because my parent are teachers, What we have above is akin to two women, house wives living in the same estate under the same extenuating circumstance, whose husbands are colleagues of the same company on the same salaries.

These men give their wives twenty thousand naira and forty thousand naira monthly respectively. Yet the lady who receives 20,000 naira as family upkeep has better groomed home, better fed children, well dressed children, happier husband and a homestead with sounds of joy and happiness unlike the other family.

What you may infer under this present government is that lots of money is being diverted into private pockets via companies fronting for government officials and officially endorsed by the government.

This is the reason we see lots of movement but no progress. In reality, the movement we see is a routine effort to maintain status quo for official looting to continue. That's why no single high profile government official will be officially reprimanded talk less prosecuted by the EFCC.

Look again at the 2017 Budget figure, then convert the more than $25 Billion cornered (we are not little children) through companies fronting for Buhari's cronies. You'd come away with the following:

$25 Billion is more than enough to have conclusively financed the 2017 budget thereby putting the economy on a better pedestal for a positive outlook next year. After financing, the balance of billions left (even at 300 naira to a dollar, Ibe Kachikwu was playing safe, the right metrics should have been 350 to the dollar) would have been saved for 2018 budget.

However, we are looking at a government who do not seem to have a clear view of where they are going, talk less carrying others along. Factoring in the massive borrowing, the absence of critical infrastructure, non implementation of budgets for two years, it'll be a miracle if the country escapes a depression in 2018 despite the whitewashed declaratives of a recovery.
Re: Corruption Now Walks On Two Leg In This APC Regime by Realist2: 8:59am On Oct 09, 2017
Nice observation!

The only thing Buhari does best is to bastardized, cutting corners, always associated with negative things.

Since his administration, budget for the year are always passed in the month of October.
Even a Naira value Buhari hasn't added to this Country rather extending his disastrous life with billion of our tax payers money.
Re: Corruption Now Walks On Two Leg In This APC Regime by aolawale025: 9:12am On Oct 09, 2017
The looting going on now is vicious and rampant. If the letter hadn't leaked, no-one would have heard of the 25b dollars. All they would have said is no funds to finance the budget
Re: Corruption Now Walks On Two Leg In This APC Regime by Nobody: 9:14am On Oct 09, 2017
you forgot to add the 26 billion dollar nnpc corruption o.

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