₦airaland Forum

njideoby:
What will a lesbian need a child for? If she really need a child of her own, then why deceive herself that she does not need a man in her life. She should have gotten herself pregnant by herself (as in self impregnated) if there's anything like that.

Instead, the cash-strapped user of men is hopeful that, as a single mum, she will get a council house and benefits.

Kafayat, who is currently dating 26-year-old Aisha Atan, said: “I have always wanted to be a mum.

“As a gay woman, surrogacy or IVF were options but I couldn’t afford these and they seemed too way too much hassle.

“I decided I would have to sleep with a man and started to look out for guys that were good looking and intelligent with a sense of humour. I’d like my child to have all these attributes.

onatisi:
This Government lies has superceded all previous governments own. It is time to just wait and see what happens in the end. No wonder many activists and politicians no longer make comments ,the situation in Nigeria is fast deteriorating into a totally irredeemable hopeless one .

TippyTop:
Boko activities were restricted to Sambisa forest when Buhari took over.
Buhari won the election and re-armed his foot soldiers.

Jesusloveyou:
very shameful for u saTANist wailers to uncover d truth reported by ndume but believe d lie said by ur fellow saTANist

Nigeria expects a budget deficit of 3 trillion naira in 2016, which is equivalent to $15 billion up from 2.2 trillion naira, or $11 billion, that had been previously estimated.

anonimi:
Let me bookmark this comment to verify later WHEN Buhari goes a-borrowing


All Propaganda Congress, APC

Nigeria to issue N90bn bonds on Feb 10

Nigeria plans to raise 90 billion naira ($452.26 million) worth in local currency denominated bond at an auction on Feb. 10, the second of such this year, the Debt Management Office (DMO) said on Thursday.

As the Federal Government moves to borrow $3.5 billion to finance the expected N3 trillion deficit in its 2016 budget proposal, Nigeria’s debt profile is set to rise astronomically, raising fears that the country would soon return to the status of a debtor nation.

Realist2:
But Sanusi told us that $20 billion was missing, from there, another $12.8billion was missing from NNpC account.

Trailblazer1:


Ben Murray Bruce is the #Change Nigeria needs not the current blamers

Though the dullard in aso rock and his zombies prefer German made BMW, Bruce is showing Nigerians that Nigerian made Innoson is world class.

I know this, because I have #CommonSense

LIKE if you have common sense

ednut1:
Something needs to be done to these hungry bloggers

olajide8:
The few 3% that benefit from importation of every item are really on this devaluation case O! We are not devaluing that's all!!!

The CBN has not devalued the naira is at this rate isn't it common sense'tistical' for them to know that if the govt., devalues that's the end of nigeria*, our exportable items would be valued negatively - an average Nigerian does not want the best for nigeria' - daniska currency speculators

Nigeria’s main opposition party said it will scrap the country’s sovereign wealth fund and a separate excess crude account if it wins elections in February.“We’re going to put a stop to them,” Lai Mohammed, a spokesman for the All Progressives Congress, or APC, said in an interview in London yesterday. “The sovereign wealth fund and the excess crude account are illegal.”

Wallade:
I have a teaser question for you all that are asking the government to devalue the currency: How does currency devaluation impact the economy positively and translate into positive BOP for Nigeria?

4Play:
Allowing the Naira to reflect its market rate will reduce consumer purchasing power for obvious reasons - higher import costs will increase inflation. However, not doing so will achieve the same outcome as a fixed rate requires restiction to forex access with such restrictions increasing import costs. The difference is that a fixed exchange rate not backed up by sufficient reserves has the ironic effect of accelerating currency depreciation because - as earlier stated - it reduces the incentive for bringing in foreign exchange into Nigeria.

Ultimately, the root cause of Naira depreciation is reduced forex coming into the country due to lower oil prices. Anything that further reduces forex coming in, such as restrictions necessitated by a fixed exchange rate, will have the unintended effect of accelarating currency depreciation. Of course, the official rate will stay the same but the greater the divergence between the official and market rates, the more the former becomes irrelevant.

4Play:
We replaced an inept government with an even more inept government. Knowledge of the extent of the current government's ineptitude will accumulate overtime. When we had the buffoon GEJ as president, I can't remember any Western analyst who said he was inept barely 100 days into his tenure. His ineptitude only became common knowledge subsequently. Buhari will prove the same.

mrvitalis:
This is a simple sense.... even if we officially devalue what will the average Nigerian gain...

People who looted and shared our excess crude reserves should belamed for this.

But Buhari should do something radical to save our economy.. .. The normal rules won't work here

onatisi:
she can't go beyond what buhari wants. We should stop blaming the poor woman. I am sure many of those ministers are regretting accepting these appointments . Buhari believes in a selected few and what ever they tell him is final. How many of the new ministers have u seen making any tangible comments ? They are just there,the man they are working for is one who believes he knows it all and you must comply with his ideas whether u like it or not. Last year,I raised this issued when I said having a cabinet full of intelligent qualified individuals is not the same as allowing them to do what they know best to do or allowing them to perform the tasks given to them to the best of their abilities

Zoharariel:
A wicked thief in military uniform. No wonder his father was abruptly deposed from his throne by the good General - Sani Abacha.

mfm04622:
Customs officers are still Short-changing the govt! They will ask you to pay some amount in cash and then some to govt account. If you don't cooperate, you container will continue to stay in port, incurring demurrage!

onegig:
Olodos.

2015 was a very uncertain year. As early as January most companies had stopped investment projects and some delayed their expansion plans due to the uncertainty of the presidential elections.

You also need to know that year on year growth rate for the country dropped from around 6.5 to around 4.6 based on projections.

41 items were banned from accessing for ex for imports also.Increased dollar to naira exchange rate deterred most importers from buying more.

Add all these to the drastic fall in oil prices and reduced spending and you would know this is a relatively good performance. If you want to criticize. Do it with facts, not heresays.

977 billion Naira in 2014 and 903 billion Naira in 2015. Revenues have clearly dropped and this fits in with my long-running theme that there is little evidence that revenue collection is improving now we are suppossedly in or moving towards a zero-corruption era.

Nigeria has lost a staggering N1.4 trillion on import waivers over the last there years and not N171 billion as claimed by finance minister, Ngozi Okonjo-Iweala.

DropShot:
Have you considered that 41 items have resulted in loss of over N200bn in 2015?

If that fact is taken into consideration, the customs has done better in 2015 than in 2014 and we should expect even better performance in 2016.

Unfortunately, I disagree.

I don't think you can take refuge in recourse to historical data to debate about governance between 2 different governments (one in the future) with different policies and intent.

I also fundamentally disagree with your social sciences axiom. Governments are different. Even in the UK, conservatives would be different from labour. In the US, republicans are different from democrats. The most useless democratic government we have had is a competition between Jonaadaft and Shagari, Buhari would struggle to beat that even if he banged his head and something changed and he tried.

Of course yam-eating would be continuing in earnest until people see the consequences of it. You think people would just wake up and give up their lifestyles and "investment" in corruption without a fight?

First of all, I don't think if $2.1bn is missing then Dasuki alone would have pocketed it all. Even if I said that, you should not be pedantic to the level you take it literally. If you understand the way corruption works, there will be others taking a cut from it, Dasuki is just the central figure in the loot.

Secondly, the fact he is being charged with only a fraction NOW is by no means evidence that $2.1bn is an exaggeration. They reported to have found $2.1bn that is unaccounted for or illegal spending overall. You should consider he is being charged for a fraction of the loot because those are the easy to trace ones they have found. You have absolutely no clue the list of other charges that would come and the combined figure it would come to. You are exhibiting the same quick to and early judgement one sees with wailing wailers here. The only difference is that I suspect yours is sincere and with good intentions.

First of all, let me tell you about my experience in a country with low corruption and high acountability. I was working in an advisory capacity to a UK government department and during a meeting a Director told me that they attribute about 6% of their procurements to corrupt practices. If a country like the UK can attribute as much as 6% to corruption, what would you think a country soiled and soaked in corruption like Nigeria during a Yam Festival being run by a cretin would be? You really think 40% is absurd? O lo si gym ni to ma ni abs? (It went to the gym to get the abs?)

You cannot say if revenue has not improved in 6 months, then it "certainly" will not improve in 12 months or 1 year. That is a logical fallacy! Even in any calculations being done by a government, they would have a base case plus optimistic and pessimistic cases. This is the norm when trying to forecast the future. The base case is what is presented.

You have not factored in what will change, what is being changed and any lagging factor of what is being done recently in that argument. Especially when what was being done before was not anywhere near mediocre, talkless of best practice. That is like saying a fat man that can run 100m in 28s and then starts going to the gym for 2 hours (4 days a week) but is still adjusting to his new diet in the first 6 months will not run 100m faster 1 year than his 26.89s dash after. After 1 year, he will CERTAINLY still be only to run 100m in 24-28s.

Be careful how certain you are or proclaim when you are making assumptions, ESPECIALLY about future events.Of course when one is talking about the FUTURE actions of a 2nd party, and not ones-self, a major part of one's position is a level of faith. So, yes, there is a leap of faith in my position. You are perfectly entitled to your level of pessimism. But I don't share that. My faith lies in my inside knowledge of how badly run the country has been run during the rise festival and my belief in the intent of Buhari as well as his ministerial appointments which brims with some competent individuals.

As for your arguments about individual actions by Buhari, to be clear, I don't agree with all his policies (nor his appointments) but that should not be mixed up with the realities of emotional phases of complex transformation which I am aware of and is academically accepted.

As for the highlighted in red, my advice to you is refrain from using such arguments. It is in the category of your "certainty" above.
Is there even enough data for investors to engage in forward discount mechanism in Nigeria? How will they invest when there is even no policy and no ministers?

I can't disagree with this. But If you were in their position, what will you do? You need to get a budget out in 6 months and make decisions on policies soon, what will you do? Start gathering data that might take you 2 years to get good ones? Or go with the inadequate data at hand to make some kind of decision for now and focus on data improvement in the future?

Why do you think they need to lock up their critics?

This man will turn out to be the worst President we've had since Shagari. Because he's taken over in extra-ordinary circumstances, his power base is not strong which means he feels he needs to bribe his way to gain loyalty.

Day169:
It would be nice to know what was collected during the same period of time under his predecessor. ..

The Nigeria Customs Service (NCS), one of the major revenue generating arter­ies of the government raked in about N977.09 billion in 2014.

Nigeria’s army, by contrast, is finding counter-insurgency far more difficult than merely liberating captured towns. It has also lost much of the support that contributed to its victories earlier this year. Mercenaries who helped turn the tide in the north-east have been sent home and Chadian soldiers have pulled back over the border. Morale among poorly equipped Nigerian troops is plummeting again. “[It is becoming] the way it used to be before—[when] one man [was issued with just] one bullet [per target]—it’s just the same now,” says one military man.

Some residents of the northeastern city of Maiduguri, the capital of Borno State, say they feel safer; but, soldiers who spoke to VOA say they’re ill-equipped and outgunned, while a government official in Borno State says some areas remain unsafe.

seunmsg:
According to your figures, the federal government presently gets an average allocation of N161billion monthly. To finance the 2016 budget, they need to generate N316billion monthly. So, we have a deficit of N155billion and your question is, how do we finance this deficit.

1, The 2016 budget shows a total deficit of N2.2trillion. By implication, N2.2trillion will be borrowed and not N1.8trillion. Capital expenditure would gulp N1.8trillion of the loan while the remaining N400billion will go into recurrent expenditure. If we divide N400billion by 12, we have N33billion monthly.

2, Federal government also intends to generate N350billion from loot recovery. I Am not part of those who compiled the budget but I am very sure that they have their reasons to believe that they can recover that much from corrupt official. Also, don't forget that the loot recoveries is not limited to corrupt officials of the last regime. It also includes projected recoveries from the Abacha loot. USA and other friendly countries are working with the PMB government in this regards. So, I think the N350billion projected recovery is very feasible. On monthly basis, that translates to N29billion.

3, Allocation from the federation account is not the only source of revenue that accrues into the consolidated revenue fund. Federal government through her MDA's generate revenue that belongs strictly to the federal government. This revenues goes directly into the CRF without passing through the federation account. In fact, the essence of the TSA is to ensure that all revenues generated by these agencies are fully remitted into federal government coffers. Over a trillion naira will be generated by these agencies. So, in addition to borrowings and recovered loot, revenues from MDA's should balance up the deficit you highlighted.

baralatie:
I think the PMB budget proposal of #6.08trn is high rather based on his revenue it is #5.62tr
Based on the plan I believe it is workable if the policies that will necessitate those non oil revenues are put in place.
The "big " negation for his proposal is that PMB has to pay in dollars to satisfy its imports!(this will always ruse the budget plan)
The PMB will need a maximum #20 devaluation of the naira to cushion its pressure(gradually).
The #1.8tr capital has to be properly placed.wrong place and and wrong sector.PMB ends up with wrong results

MizColiatu:
So, in clear terms, the budget is unrealistic? @4play?

What do you think can be done to remedy such, I mean, in the long run...we all want better prospects for the future, so if you were to proffer advice on the way forward, what'd it be please?