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Nairaland Forum / Nairaland / General / Politics / Budget Of Consolidation: Sanwo-olu Presents N1.388tn Budget To Lagos Assembly (7066 Views)
2022 Will Be A Season Of Consolidation, Sanwo-Olu Assures Lagosians / Oyetola Presents N1.13bn Bond Certificate To 189 Retirees In Osun / Cross River Governor Presents N1.043 Trillion Budget Estimates For 2019 (2) (3) (4)
Re: Budget Of Consolidation: Sanwo-olu Presents N1.388tn Budget To Lagos Assembly by gasparpisciotta: 10:25am On Nov 25, 2021 |
Dsalvo: Inner city roads are under the local government, they should funded and monitored |
Re: Budget Of Consolidation: Sanwo-olu Presents N1.388tn Budget To Lagos Assembly by Nobody: 10:42am On Nov 25, 2021 |
gasparpisciotta: Local Governments are corrupt no doubt but they do not have money to complete the number and quality of roads and associated drainage required. We use vehicles too much and are too reliant on roads. |
Re: Budget Of Consolidation: Sanwo-olu Presents N1.388tn Budget To Lagos Assembly by gasparpisciotta: 11:26am On Nov 25, 2021 |
Dsalvo: What about the funding part? |
Re: Budget Of Consolidation: Sanwo-olu Presents N1.388tn Budget To Lagos Assembly by Nobody: 1:23pm On Nov 25, 2021 |
gasparpisciotta: Do you mean how will Lagos fund alternatives to road transport? |
Re: Budget Of Consolidation: Sanwo-olu Presents N1.388tn Budget To Lagos Assembly by Nobody: 1:36pm On Nov 25, 2021 |
masseratti: Not ideal but quite good in Nigeria where most States run budget heavily bloated towards recurrent expenses. Don't have the Stats for last year but likely only a few Nigerian State will have budgets with capital spending significantly greater than recurrent expenditure. Majority of Nigerian States are inefficient, unproductive and unwieldy. 1 Like |
Re: Budget Of Consolidation: Sanwo-olu Presents N1.388tn Budget To Lagos Assembly by Nobody: 1:42pm On Nov 25, 2021 |
ReubenE: You're right but the average Nigerian is dirty and wilfully irresponsible as per the need to play their own part keeping our roads, gutters and public space clean and litter-free. The irresponsible littering habit of Lagosians plays a big part in what you see. 2 Likes |
Re: Budget Of Consolidation: Sanwo-olu Presents N1.388tn Budget To Lagos Assembly by gasparpisciotta: 1:55pm On Nov 25, 2021 |
Dsalvo: I mean if local governments are well funded and adequately monitored, inner city roads under their direct portfolio will be fixed. Same goes for state and federal. |
Re: Budget Of Consolidation: Sanwo-olu Presents N1.388tn Budget To Lagos Assembly by Nobody: 6:10pm On Nov 25, 2021 |
gasparpisciotta: Certainly a valid statement but at federal and State level, Nigeria would still not have enough to fund infrastructure optimally even if we do not have the massive looting seen today. We need a lot more money then we myopically limit ourselves to making because we won't diversify the economy away from depence on oil income. The figures are definitive and precise. They show what we are facing that the average Nigerian may not appreciate. Our last National budget was approved for $35.66 billion dollars. https://www.google.com/amp/s/mobile.reuters.com/article/amp/idUKJ8N2D2012 Yet we need, conservatively, at least $1.5 trillion dollars to appreciably bridge our infrastructure deficit over ten years. https://guardian.ng/news/nigeria-needs-1-5trn-to-bridge-infrastructure-gap-in-10-yrs-buhari/ 1,000 billion dollars = 1 trillion dollars. We are still budgeting circa 35 billion dollars a year to cover Nigeria's national spending. With 1.5 trillion dollars needed to provide optimal infrastructure in 10 years then you can appreciate that even if every kobo Nigeria makes is deployed towards infrastructure then the shortfall would still be monumental. A drop in the ocean that means the adequate local government, state and federal roads, drainage and even rail networks we all want to see will never materialize. This is why PPP funding model (public private sector partnership) is on the lips of all analysts universally in relation to Nigeria's situation. |
Re: Budget Of Consolidation: Sanwo-olu Presents N1.388tn Budget To Lagos Assembly by Nobody: 6:11pm On Nov 25, 2021 |
gasparpisciotta: Certainly a valid statement but at federal and State level, Nigeria would still not have enough to fund infrastructure optimally even if we do not have the massive looting seen today. We need a lot more money then we myopically limit ourselves to making because we won't diversify the economy away from dependence on oil income. The figures are definitive and precise. They show what we are facing that the average Nigerian may not appreciate. Our last National budget was approved for $35.66 billion dollars. https://www.google.com/amp/s/mobile.reuters.com/article/amp/idUKJ8N2D2012 Yet we need, conservatively, at least $1.5 trillion dollars to appreciably bridge our infrastructure deficit over ten years. https://guardian.ng/news/nigeria-needs-1-5trn-to-bridge-infrastructure-gap-in-10-yrs-buhari/ 1,000 billion dollars = 1 trillion dollars. We are still budgeting circa 35 billion dollars a year to cover Nigeria's national spending. With 1.5 trillion dollars needed to provide optimal infrastructure in 10 years then you can appreciate that even if every kobo Nigeria makes is deployed towards infrastructure then the shortfall would still be monumental. A drop in the ocean that means constant electricity and the adequate local government, state and federal roads, drainage and even rail networks we all want to see will never materialize. This is why PPP funding model (public private sector partnership) is on the lips of all analysts universally in relation to Nigeria's situation. It is the only way to fund development with our economic reality and limitations. |
Re: Budget Of Consolidation: Sanwo-olu Presents N1.388tn Budget To Lagos Assembly by Akhee: 5:17pm On Dec 04, 2021 |
Kunlelee:Okay |
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