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Nairaland Forum / Nairaland / General / Politics / FG Admits Revenues Crashing, Says Nigeria Faces Hard Times (19986 Views)
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Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by wink2015(m): 8:13am On Apr 20, 2021 |
Neutralobserver: You failed to add: RESTRUCTURING & THE DEVOLUTION OF FEDERAL POWERS TO THE STATE OR REGION. & THE CUTTING DOWN OF THE HUGE COST OF GOVERNANCE IN NIGERIA. Some years back Professor Pat Utomi told the nation that huge cost of governance will sink Nigeria financially but the political leadership refuse to heed Professor Pat Utomi wise counsel. Professor Utomi told the nations to run the national house of assembly on part time. The leadership in Abuja ignored him. There were also calls for a unicameral legislature instead of the Bicameral legislature that is money draining. The leadership in Abuja stubbornly refused to listen. What is the result as at today? 3 Likes |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by tnerro1(m): 8:19am On Apr 20, 2021 |
Somebody should call the CBN Governor to start printing money...........spits |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by Rolly22(m): 8:21am On Apr 20, 2021 |
tuna85: She destroyed a country and she is currently handling World Economy? You must be reasoning from your anus. |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by BigBizzy(m): 8:41am On Apr 20, 2021 |
Hahahaha so was Obaseki right? 1 Like |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by tuna85: 8:41am On Apr 20, 2021 |
Rolly22: Where is Buratai today - Confirmed as an ambassador by the Senate despite woeful performances. Where are Okorocha, Amosun etc despite their corruption allegations. Elected into the Senate. Tinubu despite all the visible corruption allegations is a leader in APC Jonathan, despite how he ruined the economy was given important official assignments The list goes on and on. Now who is thinking from the anus? 1 Like |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by jaxxy(m): 8:50am On Apr 20, 2021 |
EKONGKING: We need to get over this glorification of oil. The world is gradually changing, oil prices are still low and b4 oil was discovered wasn’t Nigeria feeding everybody including Niger delta? Pls let’s talk about Smtn else and work as one great country. Selfishness and unethical practices is what is killing this country. |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by israelmao(m): 8:53am On Apr 20, 2021 |
AllenSpencer:The excess crude oil funds saved in those days of Okonjo some governors then who are now the prominent members of this government spearheaded its distribution raining fire and brimstone.When Buhari came on board it took him six months to form his cabinet and to make it worse he rolled out gunboats to fight imaginary enemies in Niger Delta instead of seeking new ways in meeting their agitations in continuation of what his predecessors initiated,war kept on raging between milliants and Nigerian soldiers while oil revenues took a nosedive then first self-inflicted and artificial recession crept in before Osinbajo waded in with dialogue when Buhari was on medical trip for more than three months and respite began to surface.As we were about heaving the sigh of sound relief global pandemic crept in and we were witnesses to how it was manipulated as a tool of moneyspinning for politicians even when it was clearer than crystal that Nigeria was free from it.Economy was shut down revenues were going down the drain then we're now where we are as Osinbajo once said.The worst of all is insecurity which has now pervaded the atmosphere of every state in Nigeria,farmers are afraid to go to farm and businesspeople are equally in jitters to operate freely even students are not exempted. |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by orisa37: 8:53am On Apr 20, 2021 |
In 2015, Osinbajo was the Chief Controller of the ECONOMY. There was a side Protest on Joblessness for KEMI ADEOSUN in the ministry of Finance Kemi then asked EMEFIELE to set aside SPECIAL FUND for Loans for general small Scale BUSINESS DEVELOPMENT. EMEFIELE damned the ADVICE. I saw what was in the Horizon. I advised the Government to shed it's Pride and bring back OKONJO IWEALA, A SEASONED FINANCE EXPERT, AS MINISTER OF FINANCE, MAKE KEMI ADEOSUN THE BLUE PRINT, STANDARD AND WELL TRAINED ICAEW CHARTERED ACCOUNTANT, GOVERNOR OF CBN AND REMOVE EMEFIELE TO SOMEWHERE ELSE. IF TINUBU HAD LISTENED, MACBAN WOULDN'T HAVE SUCCEEDED THUS FAR. TWITTER, FACEBOOK ETCETERA ETCETERA ARE ON THE RUN TO GHANA Drisa Pantami is a Lier |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by Jeffyblaq(m): 8:54am On Apr 20, 2021 |
Hard times.. Spit on Buhari and Osibanjos'bald heads.. OLD THIEVES! |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by ospido: 8:59am On Apr 20, 2021 |
post=100947417: Stop dishing out outright lies Excess crude account in January 2015 stood @ $2.45b https://www.premiumtimesng.com/business/175125-nigerias-excess-crude-account-2-45-bn.html Fast forward to 2021 Excess crude account as @ January 2021 stood @ $72.4m https://www.thecable.ng/zainab-ahmed-nigerias-excess-crude-account-balance-stands-at-72-4m/amp Have your darling daddy and his vice (a so-called prof) been able to grow it? Between the two govts (previous and present), who has depleted the account? Before they leave office they will empty it Kpatakpata. Buhari promised he won't borrow a dime b4 he assumed office, today he has borrowed more than all the govts since 1960 put together. The support you give to this failed govt is not different from the support the demons gave to Satan b4 his ouster from heaven and still giving him till date despite his failure. 3 Likes 1 Share |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by Krismas(m): 9:01am On Apr 20, 2021 |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by Jeffyblaq(m): 9:03am On Apr 20, 2021 |
blackmantis:Still ask dat ugly liar of a VP, he would still come out and say that the country is in a right direction. Very shameful! |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by bjdon: 9:16am On Apr 20, 2021 |
These are the fundamental issues we should be discussing in this country. Not where the next president will come from in 2023. The Nigerian ship of state is seriously faulty and no president, no matter where he/she comes from can rectify it, until the country is fundamentally restructured. The current situation of the funds being distributed to the states and LG's from the federation account is a fisica abomination which is not done anywhere in the world that operates a federal system. Why would states and Lg's be serious about IGR when they are getting 'awoof' money every month? This is why with the exception of Lagos, no state in Nigeria can survive without it's monthly allocation. States and LG's must be fully autonomous economically. Oil revenue should be used by FG to fund strategic national projects like high speed rali, power, high speed broadband across the country, road networks, universities.....etc. Once the states and LG's are responsible for raising their revenue, the governors will be forced to cut back on some of their wasteful ways. |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by Krismas(m): 9:17am On Apr 20, 2021 |
AllenSpencer:4get the lie about going green. There is no green anywhere in this world that can do away with crude oil. Its the blood of modern economy-crude-oil! What is more pertinent is, WHY HAS THIS GOVERNMENT CONTINUE TO ALLOW THE IMPORTATION OF PMS? You sell Crude-oil cheap and buy back petrol costly? Sometime they just give oyinbo crude-oil plus the balance ontop to collect PMS. 1 Like |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by ospido: 9:27am On Apr 20, 2021 |
tuna85: Rolly22 is the one thinking from the anus 1 Like |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by ospido: 9:30am On Apr 20, 2021 |
Krismas: Good question @ the bolded. Let them keep fooling themselves. 1 Like |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by cyril10(m): 9:32am On Apr 20, 2021 |
post=100947417: |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by Krismas(m): 9:32am On Apr 20, 2021 |
CocoaOla:Pls educate me. I tot devaluation was only advantageous in an export-driven economy? Why all these devaluation? |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by nedekid: 9:38am On Apr 20, 2021 |
post=100947417:Crap as usuall. In the next 20 years you will still be giving same excuses. Nna, move ahead and leave the past. We are talking of now, not the past. How many times has Biden mentioned trumps chaotic time or used it as excuse eg why vaccine have not been distributed? Instead he got off his arse and worked, now America is the most widely vaccinated country in the world! |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by Krismas(m): 9:46am On Apr 20, 2021 |
Bouz:I feel u. U are mistakenly thinking IGR means only taxes. Its not suppose to be so. |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by Minjim: 9:55am On Apr 20, 2021 |
Neutralobserver: We are buying at #163/litre in Lagos. You don't know the history of our importation of refined crude. It started with the military in the late 90s. That's about 23 years ago. Why is there no solution for over 20 years? Because people in successive govt make a lot of money from it. They don't want solution. Most Nigerians are corrupt no doubt but if the govt put it's foot down and fight corruption with sincerity of purpose some people will be compelled to comply. All it takes is a purposeful leader. Which investor can we attract again? Shell, Mobil, Total, Chevron, etc have all come and gone. People are focusing on renewable fuel. That's the future . |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by Collyweed: 10:03am On Apr 20, 2021 |
Krismas: They are obviously running out of FOREX to continue defending the Naira. Devaluation helps reduce the pressure a bit but eventually the respite will be only temporary. 1 Like |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by kushme: 10:30am On Apr 20, 2021 |
Ceaser01: Nice.. Whenever people try to talk about way forward in Nigeria. Cutting cost of governance is always the first thing I do suggest.. Make politics less attractive and see things turn around for good.. Even if they make more revenue tomorrow, it still won't change the situation of Nigerians at large.. More money will only increase the level of looting and also make the game of politics to be more deadlier between political parties. Politicians overtime plot to kill themselves because of the big money in political offices. Just take away the big bux in Nigerian politics and watch most of these privileged criminals with no single interest on welfare of the state disguised as leaders leave politics with deep disdain for the true patriots.. As a result of the high cost of maintaining the bureaucracy the International Monetary Fund (IMF) has always predicted low economic growth prospects for the Nigerian economy. 1 Like |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by Worksunlimited: 10:36am On Apr 20, 2021 |
Oluwamarc: Hard times and you aren't slashing your jumbo pay.. make una no vex me this morning o 1 Like |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by Mohbola(f): 11:08am On Apr 20, 2021 |
is that why they've been printing money? hmm |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by Yankee101: 11:31am On Apr 20, 2021 |
More hard times? What will that look like? |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by CocoaOla: 11:40am On Apr 20, 2021 |
Krismas: Yes you are right Nigeria devalue the naira to offset their international dollars debt burden at the detriment of the masses if we don't have electricity and good justice system local raw materials industries Devaluation will only cause hyperinflations in local market The Devaluation is causing double digits inflation s from manageable 8% three years ago to uncontrollable 18% inflations this year prices of goods will not be affordable again because local industries import raw materials at end the masses suffers Nigeria is also importing refined oils complicating the whole issues Government need to cut it huge luxurious allowance Our national budget need to increase to 500billions dollars Investors are running away because of multiple naira Devaluations Majority of our population have brainwashed educations not good for country development We need to invest in human development diversify our economy from oils Good business favourable policy and good justice system without evil politics Devaluation favour China because of structure and foundations in place Nigeria doesn't have the structure and foundations before jumping into Devaluation international competitive market at the first place what do we export before Devaluation What have Nigeria gained from Devaluation since 1980s nothing but more hardships and poverty My main point is that we need to put the right policy structure local industrialisation foundation down in place before Devaluation we favour us all if not Devaluation is just a currency manipulation by federal government to make them richer and make the masses poorer Not good at all it can destroy an economy totally it can cause many unrest and wars 1 Like 1 Share
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Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by Nobody: 12:24pm On Apr 20, 2021 |
Why wont it? People who have a track record of destroying business, see what they did to mtel. |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by ChimaAdeoye: 2:14pm On Apr 20, 2021 |
They ALWAYS claim there is no money when more money is being earned. In December 2020/January 2021, the oil price was about $40 dollars/barrel In April 2021, it is now $70 dollars/barrel ! Yet, this is when Nigeria claims it does not have revenue? Why? The Federal government politicians resume looting of the treasury once oil price rises above the budgeted $40 dollars/barrel! 1 Like |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by TMKsouth: 4:45pm On Apr 20, 2021 |
EKONGKING: @bolded Hey selemempe - what about the cement u spoke of yesterday? |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by ItswellMike: 4:55pm On Apr 20, 2021 |
post=100947417:Durin Uwarka |
Re: FG Admits Revenues Crashing, Says Nigeria Faces Hard Times by orunto27: 5:50pm On Apr 20, 2021 |
AISHA AHMED IS INCOMPETENT. REPLACE HER WITH A MORE QUALIFIED PROFESSIONAL. EMEFIELE IS A DELTA RASCAL. BRING BACK KEMI ADEOSUN TO CBN AS GOVERNOR GRANT FULL AUTONOMY OF POLICING, RESOURCING AND ELECTIONEERING CONTROL TO THE 36 CONSTITUTIONAL STATES LIMIT F.G TO MATTERS OF FOREIGN RELATIONS PARTICIPATION |
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