Breaking : Nigeria's Revenue Drops By 60% - Politics - Nairaland
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Cut All The Expenses Of Every Aspect Of The Government By 60% – Obi Tells FG / Tinubu Slashes Travel Convoy By 60% / Nigeria’s revenue-to-GDP ratio lowest in the World – World Bank (2) (3) (4)
| Breaking : Nigeria's Revenue Drops By 60% by Nobody: 2:37am On Sep 08, 2020 |
Nigerian Vice President Yemi Osinbajo Monday said the coronavirus pandemic had dwindled the country’s revenue and foreign exchange earnings. “For the government, it has been a particularly trying time,” Osinajo said while representing President Muhammadu Buhari at the start of the first-year Ministerial performance review retreat holding in Abuja. “As a result of the poor fortunes of the oil sector, our revenues and foreign exchange earnings have fallen drastically. Our revenues have fallen by almost 60 percent,” he added. Osinbajo said despite the slump, the Nigerian Government had to sustain expenditures, “especially on salaries and capital projects, in order to keep the economy going.” He said the government adopted a N2.3 trillion economic sustainability plan to mitigate the effect of the economic slowdown. The plan, which consists of fiscal, monetary, and sectoral measures, is expected “to enhance local production, support businesses, retain and create jobs and provide succor to Nigerians, especially the most vulnerable.” “But we have also had to make some difficult decisions to stop unsustainable practices that were weighing the economy down,” he said. Nigeria’s economy is facing collapse as it largely depends on oil exports. The oil markets have been on a downward trend as COVID-19 has crippled demand. Fuel prices fell and recorded 18-year low trading at less than 22 dollars per barrel and expected to go lower. Buhari during the height of the coronavirus inaugurated Economic Sustainability Committee on March 30, chaired by Osinbajo. The committee was specifically charged with the responsibility of developing a clear Economic Sustainability Plan in response to challenges posed by the COVID-19 pandemic, and to propose monetary policy measures in support of the plan, among others. Still, finance experts and organisations have projected that the country may experience a severe recession. Minister of State for Budget and National Planning, Prince Clem Ikanade Agba on Tuesday said Nigeria may experience another negative growth in the third quarter of the year 2020. Lalasticlala mynd44 http://news.bestnaira.com/posts/view/nigerias-revenue-drops-by-almost-60-due-to-coronavirus-says-buhari?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+bestnaira%2FBTbw+%28Bestnaira.com+-+Latest+News+in+Nigeria%29 |
| Re: Breaking : Nigeria's Revenue Drops By 60% by tit(f): 2:50am On Sep 08, 2020 |
China must pay for causing suffering to poor Nigerians |
| Re: Breaking : Nigeria's Revenue Drops By 60% by Mathantics: 3:05am On Sep 08, 2020 |
tit: 2 Likes
|
| Re: Breaking : Nigeria's Revenue Drops By 60% by daddytime(m): 3:13am On Sep 08, 2020 |
What's breaking here? |
| Re: Breaking : Nigeria's Revenue Drops By 60% by Nobody: 3:26am On Sep 08, 2020 |
tit:lol did they hold you at gun point to sign the loan? |
| Re: Breaking : Nigeria's Revenue Drops By 60% by PapaNnamdi: 3:31am On Sep 08, 2020 |
So last last naija don kpafuka , chai how I wan take born pikin for this country and my conscience no go kill me for sleep?? 1 Like |
| Re: Breaking : Nigeria's Revenue Drops By 60% by Freestainworld(m): 3:33am On Sep 08, 2020 |
our economy that is already fallen since beginning of this administration, this is no news nah, they should borrow more money from Iran and Iraq not only China. |
| Re: Breaking : Nigeria's Revenue Drops By 60% by Susu888(m): 4:15am On Sep 08, 2020 |
 no suprise here, it was only a matter of time anyway....if the economies of giants like the u.s.a nd p.r.c could be severely hit then it will be a miracle for naija economy not to be snuffed out. |
| Re: Breaking : Nigeria's Revenue Drops By 60% by morgstreme: 4:31am On Sep 08, 2020 |
pickatyou: See you.. Na car tracking you dey do.. How can you even reason intelligently? |
| Re: Breaking : Nigeria's Revenue Drops By 60% by Luckydubby7(m): 5:02am On Sep 08, 2020 |
Then, you guys want d poor masses to pay for it? Till this moment, cost of governance still remain higher and higher. |
| Re: Breaking : Nigeria's Revenue Drops By 60% by obami007(m): 5:11am On Sep 08, 2020 |
It was inevitable. There were actually no viable plans to curb this from the start. |
| Re: Breaking : Nigeria's Revenue Drops By 60% by TheRareGem1(f): 6:04am On Sep 08, 2020 |
This is one of the reasons why VP osinbajo proposed a 2.3T stimulus package to cushion the effect of pandemic and inturn improve our economy through working on non oil sectors of the economy to create job through agricultural mass programme, construction of 300,000 housing units and construction of roads using local materials and young professionals, expansion of NSIP, MSMEs, installation of solar power, broadband ICT, etc |
| Re: Breaking : Nigeria's Revenue Drops By 60% by pastaramen99: 6:07am On Sep 08, 2020 |
God oo |
| Re: Breaking : Nigeria's Revenue Drops By 60% by Nobody: 6:16am On Sep 08, 2020 |
morgstreme: Are you feeding him or taking care of any of his Bill's?... why trying to job-shame someone.. Some people can be so stupid.. 2 Likes |
| Re: Breaking : Nigeria's Revenue Drops By 60% by pastaramen99: 6:17am On Sep 08, 2020 |
Very bad |
| Re: Breaking : Nigeria's Revenue Drops By 60% by pastaramen99: 6:20am On Sep 08, 2020 |
What does the future hold for us with this |
| Re: Breaking : Nigeria's Revenue Drops By 60% by morgstreme: 6:34am On Sep 08, 2020 |
Esseite: The way your wretched illiterate father is so stupid.. USELESS little rats... |
| Re: Breaking : Nigeria's Revenue Drops By 60% by abouzaid: 6:37am On Sep 08, 2020 |
Cost of governance is too high, perception of corruption too high and Nigeria does not even have a well articulated and publicised economic plan instead they're trying to raise more money for government by taxing the already poor Nigerians. The national poverty level would only continue to increase while the economy shrinks. |
| Re: Breaking : Nigeria's Revenue Drops By 60% by okefranci: 6:50am On Sep 08, 2020 |
Oh ! this pandemic has really affected so many thing in the world,may God helps us o |
| Re: Breaking : Nigeria's Revenue Drops By 60% by helinues: 6:51am On Sep 08, 2020 |
So we have been receiving such huge amount of revenue without the masses feeling chunk of it. Let the revenue drop more jor |
| Re: Breaking : Nigeria's Revenue Drops By 60% by Nobody: 7:06am On Sep 08, 2020 |
morgstreme: To think the person trying to job-shame another is an acute failure in multiple businesses from: - Failed recharge card business.. - Failed Mason borehole digger.. - Failed used phone seller asking for 5k commission.. - Failed sharp sand seller.. who calls himself a civil engineer  You have been here for 8years and still psychotic... damn, can't really imagine your life or the kind of isolation you are in... well, nothing else to expect from a failure other than "my illiterate father blah blah blah insult"... get a therapist if you can skip two months meal to pay one. On a lighter note... this your attitude of job-shaming, body shaming, family shaming people would only keep you stagnant and grace would never find you. |
| Re: Breaking : Nigeria's Revenue Drops By 60% by backnbeta(f): 7:13am On Sep 08, 2020 |
Yet, the polithiefcians have not reduced their level of looting |
| Re: Breaking : Nigeria's Revenue Drops By 60% by morgstreme: 9:30am On Sep 08, 2020 |
Esseite: What was It that sent your late WRETCHED illiterate father to his grave via suicide? Your mother... She is a woman of EASY VIRTUE!!! The whole of Oba knows . |
| Re: Breaking : Nigeria's Revenue Drops By 60% by Nobody: 9:49am On Sep 08, 2020 |
morgstreme: As anticipated, your illiterate father and mother blah blah blah insult... find grace, sometimes we are the reason we are held back.. you can keep up with the "am strong and stubborn" attitude, we know deep deep down you want to be normal while attracting good friends. First step... stay away from drugs, masturbation and betting, pray more and seek God. On a lighter note..drop your guards down, not everyone is out to intimidate you or part of the problems you face, The world is a difficult place for everyone, you don't job/body/family shame people just because of your own self inflicted problems. |
| Re: Breaking : Nigeria's Revenue Drops By 60% by morgstreme: 9:54am On Sep 08, 2020 |
Esseite: You didn't add that I should also stay away from your mother.. |
| Re: Breaking : Nigeria's Revenue Drops By 60% by Nobody: 10:03am On Sep 08, 2020 |
morgstreme: When someone reads your comments, he/she would think you are a kid.. not knowing the person behind the profile is a full grown frustrated adult in his 30's if not 40's On a serious note... find peace, go hiking, solitude trip or something.. you just might find it again. |
| Re: Breaking : Nigeria's Revenue Drops By 60% by Arijude(m): 10:04am On Sep 08, 2020 |
It should drop by 100% sef |
| Re: Breaking : Nigeria's Revenue Drops By 60% by morgstreme: 10:06am On Sep 08, 2020 |
Esseite: Your mother would love to come with me on that trip.. Let me think about it... |
| Re: Breaking : Nigeria's Revenue Drops By 60% by Nobody: 10:11am On Sep 08, 2020 |
morgstreme: It's your life really... live it like you please, we can only advice.. and hoping it wont be too late when you realize it. |
| Re: Breaking : Nigeria's Revenue Drops By 60% by morgstreme: 10:20am On Sep 08, 2020 |
Esseite: Isn't it already "dead" late for yo mama  |
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