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FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% - Politics (5) - Nairaland

Nairaland Forum / Nairaland / General / Politics / FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% (13084 Views)

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Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by ransomed: 9:30am On Aug 30, 2022
Vote APC for more borrowing and suffering come 2023.
Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by Nobody: 9:53am On Aug 30, 2022
Naturally this is arising from two sources.

1.The ballooning cost of fuel subsides plus subsides on power, education and health.

2.The poor tax to gdp ratio

We know the answer to the problems....eg remove subsides, and improve tax net. But we won't follow them because they are demonic apparently.

We better get realistic.

The Kasssandra.
Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by mrmayormedia: 10:01am On Aug 30, 2022
Youngzedd:



What's South Africa minimum wage?

What's South Africa standard of living?

One Rand is about 35 NGN

What is the average income in South Africa? According to MoneyToday, an employed person in South Africa earns an average of R23,982 (approximately $1,480) per month. This figure was published by Statistics South Africa in its quarter-year economic survey known as the Quarterly Employment Survey. Read more: https://briefly.co.za/30142-what-average-salary-south-africa.html


23,982 = 839,370 NGN.


An average salary in South Africa is 839,370 NGN per month.


Your brain is an app, start using it.

The average salary in Nigeria per month is roughly around N465,843 Naira and you are happy that students pay N30,000 per session as fees in Nigerian Universities. https://nigerianorator.com/average-salary-in-nigeria/

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Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by saintol(m): 10:07am On Aug 30, 2022
Again!
Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by Crownhome(m): 10:12am On Aug 30, 2022
The people borrowing us money should kuku borrow us uncountable trillion trillion dollars once and for all.
Am tired of hearing borrow borrow
Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by Nobody: 10:38am On Aug 30, 2022
Youngzedd:



What's South Africa minimum wage?

What's South Africa standard of living?

One Rand is about 35 NGN

What is the average income in South Africa? According to MoneyToday, an employed person in South Africa earns an average of R23,982 (approximately $1,480) per month. This figure was published by Statistics South Africa in its quarter-year economic survey known as the Quarterly Employment Survey. Read more: https://briefly.co.za/30142-what-average-salary-south-africa.html


23,982 = 839,370 NGN.


An average salary in South Africa is 839,370 NGN per month.


Your brain is an app, start using it.

On the other hand, not every South African earns that type of money.Let's be honest, most parts of South Africa are not like Sandton, Sun city or Joburg and Capetown.

Plus their tax to gdp is higher, and they pay higher for things like power, electriticy,petrol even DSTV and so forth...thus they won't have enough money for university when you factor in all those costs.

As an example, an Air traffic controler in Europe earns about 8000 euros a month. Someone doing a similar job in Asia earns 2000 euros a month...yet both enjoy the same standard of living...because the Air traffic controler pays more for good services than the Asian guy..

The fact is, the guy you quoted is right. Our universities need far more money than you think they need. We pay poor fees, so we get poor quality. We think we are helping the poor, but we are not.

Meanwhile, those who can afford it go abroad, or go to private universites that charge 1-3 million per annum...and give you good facilities in return. I don't like our leaders much, but most of them if they wished would like to send their kids to unis at home (and some do. Ngige for example recently had one of his kids graduate from UNN...his last child. as do some others). But because we have to keep fees low for everyone, universites don't have enough money to pay for good things...so the rich take their money to places where they can get value for cash. And let's be frank...if I was a rich politican, I would do the same...even though it would be easier on my pocket to send my kids to home universites..

You are right, we are poorer than South Africa...but the problem with guys like you is that you expect us to have good universites like South Africa on fees of less than 500 dollars per annum. That is not possible. Even if we got all the loot back, and spent it wisely, a time will come when the money finishes.

Either we pay more for university...via taxes, fees, or selling more oil, or removing subsidies, or we accept bad universities, and stop complaining about them. Your move.

P.S I paid N2000 as university fees, and still had to buy all my textbooks, and materials...because N2000 cannot cover for good textbooks and materials in the library. Had to buy furnishing...because accomodation fee of N120 cannot cover for matresss and beds..and new hostels.

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Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by Temptee101(m): 11:15am On Aug 30, 2022
Imagine tinubu continuing from where Buhari stopped.

We must not allow tinubu near aso rock
Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by Announced3: 11:58am On Aug 30, 2022
Fake news...

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Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by Youngzedd(m): 12:01pm On Aug 30, 2022
mrmayormedia:


The average salary in Nigeria per month is roughly around N465,843 Naira and you are happy that students pay N30,000 per session as fees in Nigerian Universities. https://nigerianorator.com/average-salary-in-nigeria/


Average salary in 465,843 NGN per month?
Hahaha weti Musa no go see for Nairaland. Even a director in federal civil service don't earn that.



Director of the Federal Civil Service
How much does a federal civil service director earn?

This is the most paid position at the FCSC. Directors on Grade Level 17 Step 9 gets a monthly salary of N454,344 and a yearly take home of N5,452,136. Read more >> https://workforgov.ng/federal-civil-service-commission-salary-structure/

That is what a whole director takes, so you have an idea of how long and what it takes to the reach the position of a director?


It seems like you don't know what it means for more than the half of the population to be living below poverty line (abject poverty).

Let me not talk about what teachers earn.

See what Teachers in Borno state earn >> https://twitter.com/Waspapping_/status/1556558673782231043?t=nI530KQKqGdUQWnplZzdjA&s=19
Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by Rick9(m): 12:38pm On Aug 30, 2022
This Federal Government lack financial prudence, this is the reason for these recurrent budget deficits.
Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by okeysoninv: 12:47pm On Aug 30, 2022
The 2023 federal government revenue is projected at N6.34trn, out of which only N373.17bn or 5.9 per cent comes from oil-related sources. The balance of N5.97trn is to be earned from non-oil sources. the quote should be discard Nigeria doesn't earn $800m from oil related sources. our oil and gas earning is more than $60b annually. except buhari is telling us otherwise but they should prove it.
Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by mrmayoh: 1:24pm On Aug 30, 2022
GamalNasser:


Stop the lies , fuel and electricity is not subsidized ...Are you aware pound for pound Nigerian electricity tarriffs are averagely higher than tarrifs In America..we averagely spend more to buy a kilowatt hour than the Americans ...so please where is the stupid subsidy coming from ? And for subsidy spending I put it's to you over 77 percent is all made up by the corrupt Buhari govt who mysteriously increased daily fuel consumption from 23 million litres to over 100million liters
https://guardian.ng/business-services/government-to-end-n200b-yearly-electricity-subsidy-in-december/

Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by seunayantokun(m): 1:32pm On Aug 30, 2022
I'll only call you bastards if you fail to borrow it.
Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by GamalNasser: 2:01pm On Aug 30, 2022
mrmayoh:

https://guardian.ng/business-services/government-to-end-n200b-yearly-electricity-subsidy-in-december/

Alll fraud !!!!!!
Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by snoopz: 2:13pm On Aug 30, 2022
Buhari and this Zainab na match made in hellfire for Nigerians...
Instead make Dem reduce cost of governance, na to dey borrow to dey live large life angry

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Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by mrmayoh: 3:25pm On Aug 30, 2022
Cognitivereason:


this is a lie

there is no such thing as free tertiary education in those countries..it is a bloody lie

the institutions in those countries set their school fees at a rate that they are able to pay their lecturers and manage the affairs of the school

that rate is not affordable for the average citizens there ..that is why they have what is called STUDENT LOANS...

Nigerian institutions needs to do the same....
there is a government owned institution that has the same thing done...it called Edo university..their school fees is set at a rate that they can handle all the cost of running the university ....their fee is between 400k and 600k

this is the same thing other institutions should do to permanently end strike.. if any student cant afford it..then the FG through some sort of micro finance banks can introduce at extremely low interest rates ..the same way it is done in sane countries..

if the federal university will have their fees increase to an average of 300k..it will still be one of the cheapest in the whole world

and it will be 300% cheaper than private institutions that pay nothing less tha N1 million

dont be foolish..you cant be paying less than $100 for schools and expect the school to function the same as schools whose fees are no less than $2000... it a mirage

dont defend foolishness

Brilliant
Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by Wwwq: 3:58pm On Aug 30, 2022
Why
Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by Unclefemolala(m): 9:20pm On Aug 30, 2022
Cognitivereason:


this is a lie

there is no such thing as free tertiary education in those countries..it is a bloody lie

the institutions in those countries set their school fees at a rate that they are able to pay their lecturers and manage the affairs of the school

that rate is not affordable for the average citizens there ..that is why they have what is called STUDENT LOANS...

Nigerian institutions needs to do the same....
there is a government owned institution that has the same thing done...it called Edo university..their school fees is set at a rate that they can handle all the cost of running the university ....their fee is between 400k and 600k

this is the same thing other institutions should do to permanently end strike.. if any student cant afford it..then the FG through some sort of micro finance banks can introduce at extremely low interest rates ..the same way it is done in sane countries..

if the federal university will have their fees increase to an average of 300k..it will still be one of the cheapest in the whole world

and it will be 300% cheaper than private institutions that pay nothing less than N1 million

dont be foolish..you cant be paying less than $100 for fees and expect the school to function the same as schools whose fees are no less than $2000... it is a mirage

dont defend foolishness

Oga stop saying what you don't know

I studied in Oslo, Norway (MS) there is no tuition same with Germany.. The only way you can say is that they pay via taxes.

Zero tuition for their citizens and EU nationals ..only international students pay.
Same with universal health care
Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by DOTian: 12:14pm On Aug 31, 2022
Ferrous:


What if he continue with the borrowing?
He should borrow the country to death then..
Re: FG May Borrow N11Trillion For 2023 Budget As Deficit Rises Above 100% by YeePeyHaa: 3:47pm On Aug 31, 2022
This guy why now?

His "brain is an app, he should start using it!"

La illaha illah ALLAHU!

YEEEEEEEEEEEEEEEEEE!

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