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Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report - Politics (5) - Nairaland

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Railway Debt Servicing Exceeds Revenue By 1,200% – Report / Nigeria’s Non-oil Income Outpaces Oil By N1.5trn In One Year / LASG Gives Home Allottees Three-Month Ultimatum (2) (3) (4)

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Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by ivolt: 12:28pm On Sep 03, 2023
Kukutente23:

This shows that the fixation with oil revenue is misplaced. Non- oil revenue is what's keeping the govt running.
And we know the non- oil revenue consists more of different kinds of taxes.
Who said Nigerians don't pay tax?
Nigerians pay taxes in Naira.
The government can also determine Naira in circulation by printing.
A significant portion of essential Nigeria goods are imported and requires Forex.
Even if oil revenue make up just 1% of government earnings, it will still carry disproportionate
economic power relative to non-oil revenue until the import and Forex crisis caused by indiscriminate
borrowing is solved.
If you dig deeper, some of the non-oil revenue is just a name dressing.
Taxes paid by government workers are also included, even though the
workers are paid with oil revenue or oil-backed debt.

A country gains wealth via manufactured goods & services or natural resources.
No magic can change these options.
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by Alliswell248: 12:42pm On Sep 03, 2023
Racoon:
Not good @ all.Too much overhead costs with excessive borrowing, embezzlements, budget padding corruption seriously ongoing. Balabloo-blu-bulava drug baron economics


No wonder they calls you...the unlearned and uncultured.
Was Tinubu your President during the first quarter of the year.?


Your education was a waste.
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by Alliswell248: 12:44pm On Sep 03, 2023
Yankee101:
In short Tinubu is overspending

Read the content....and stop disgracing your education.
Was Tinubu your President in the first quarter of the year.
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by Yankee101: 12:53pm On Sep 03, 2023
Alliswell248:


Read the content....and stop disgracing your education.
Was Tinubu your President in the first quarter of the year.

Maybe you didn’t know that all the major ministries were at one time or the other Tinubu’s nominees
If you separate Tinubu from buhari you’re the one disgracing your education
Fashola - works
Lai - information
Aregbe - internal affairs

Etc

1 Like

Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by Error401: 1:25pm On Sep 03, 2023
Can you explain?
kenny714433:
That means if not for subsidy removal by now we would have been hit by recession.
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by emmy9500: 1:32pm On Sep 03, 2023
Smithkafors:
Nawao…. Deep mess. Carry president give person wey no know anything about government.

Nothing is working. He go assemble the same group from previous government.

Try and read please 🙏
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by Timmi: 1:45pm On Sep 03, 2023
DukeNija:
Government of lies and deceit. I thought subsidy was eroding our commonwealth according to Mr Babablue.
Now subsidy has been removed, how’re we spending over 1.4trn above revenue in 3 months? Where is the government spending this money?
Does it even make any sense to spend such amounts yet the economy is in turmoil? Aren’t we better off paying subsidy and stabilizing the economy? The government has been channeling the subsidy savings to unknown warehouses even before the economic team kicks off it’s deliverables.

It is obvious you lack comprehension. The data presented was for the first quarter of 2023 but because you are consumed by lies and propaganda and rather wail, you fail to read and understand before drooling and salivating over the data. You need to go back to your school and collect your school fees and apologize to your parents and village people for wasting money on you. Mitchew
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by Kukutente23: 1:45pm On Sep 03, 2023
ivolt:

Nigerians pay taxes in Naira.
The government can also determine Naira in circulation by printing.
A significant portion of essential Nigeria goods are imported and requires Forex.
Even if oil revenue make up just 1% of government earnings, it will still carry disproportionate
economic power relative to non-oil revenue until the import and Forex crisis caused by indiscriminate
borrowing is solved.
If you dig deeper, some of the non-oil revenue is just a name dressing.
Taxes paid by government workers are also included, even though the
workers are paid with oil revenue or oil-backed debt.

A country gains wealth via manufactured goods & services or natural resources.
No magic can change these options.
1. Whose fault is it that a significant portion of our essential goods demand forex? It is the political elites. They are the ones who import lexus cars at the cost of 250m each.
The forex crisis is also exacerbated by the hoarding of forex by same elites. Do you know most now keep a good portion of their loots in foreign currencies as well.
That said, I understand your point. But you should know Nigeria is one of those countries that suffer from having a large number of elites with no tangible contribution to its economy. E.g Wike, Saraki, FFK etc and even the sitting president. Consider their monetary value in relation too their economic activity and you'll see a massive distortion. That's why politics is the most lucrative job in Nigeria presently. They even hire online defenders!!

1 Like

Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by austinooo(m): 1:55pm On Sep 03, 2023
Many people don't read and I was surprised they are blaming Tinubu. Was he the one spending in the first 3 months of 2023?

Lazy to read people
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by Alliswell248: 1:58pm On Sep 03, 2023
Yankee101:


Maybe you didn’t know that all the major ministries where at one time or the other Tinubu’s nominees
If you separate Tinubu from buhari you’re the one disgracing your education
Fashola - works
Lai - information
Aregbe - internal affairs

Etc

Kontinue your noise....
It's affects you only....

Increase the wailing.
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by MEGAWATCH: 2:24pm On Sep 03, 2023
kenny714433:
That means if not for subsidy removal by now we would have been hit by recession.



So what are we in now?


INCEPTION, I guess?
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by femtan: 2:31pm On Sep 03, 2023
DukeNija:
Government of lies and deceit. I thought subsidy was eroding our commonwealth according to Mr Babablue.
Now subsidy has been removed, how’re we spending over 1.4trn above revenue in 3 months? Where is the government spending this money?
Does it even make any sense to spend such amounts yet the economy is in turmoil? Aren’t we better off paying subsidy and stabilizing the economy? The government has been channeling the subsidy savings to unknown warehouses even before the economic team kicks off it’s deliverables.


This is out of point . The new govt took over May 29. First quarter ia btw Jan and March.
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by Cti28(m): 2:54pm On Sep 03, 2023
lionshare:


The numbers disagree with your assertion as we have one of the lowest tax to gdp rates in the world.

https://en.wikipedia.org/wiki/List_of_sovereign_states_by_tax_revenue_to_GDP_ratio

PS* Interesting to see that most of the countries are the bottom are natural resource-rich.
That is what the media says.
The truth is most of these tax does not get to the government coffers
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by lionshare: 3:09pm On Sep 03, 2023
Cti28:

That is what the media says.
The truth is most of these tax does not get to the government coffers
I agree this is why we need to centralize & automate revenue collections.

1 Like

Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by lionshare: 3:11pm On Sep 03, 2023
Lastmankc:
Shut up,nah still the same thing.The same party,
God Bless You!
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by frankson1(m): 3:49pm On Sep 03, 2023
DukeNija:
Government of lies and deceit. I thought subsidy was eroding our commonwealth according to Mr Babablue.
Now subsidy has been removed, how’re we spending over 1.4trn above revenue in 3 months? Where is the government spending this money?
Does it even make any sense to spend such amounts yet the economy is in turmoil? Aren’t we better off paying subsidy and stabilizing the economy? The government has been channeling the subsidy savings to unknown warehouses even before the economic team kicks off it’s deliverables.



Has Tinubu stayed up to 3 months undecided

1 Like

Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by Ezmans: 3:58pm On Sep 03, 2023
BafanaBafana:
What are the expenditures?
New cars for government officials
Fueling and maintaining presidential convoy
Welfare for ministers
Welfare for senators
Renovation of houses of government officials
Travel allowance for government officials
Etc
Etc
what of hotel reservations for side chicks

1 Like

Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by 00FFT00(m): 4:09pm On Sep 03, 2023
Buccalcavity2:

How is $25bn diaspora remittance a revenue? Must you comment? Arh!!!

Look, try to discuss at your level of competence. Do not jump into every discussion because data has become cheap.
Shey people who received these remittances from abroad spent them in Ghana?. When they pay hospital fees, tuition fees, buy at the markets, pay T-fare, buy gala and coke, how much VAT do you think they paid?. What is the definition of income in your mind?.

How much of that money do the manufacturing industries pay as taxes to the government?.

Do you even have any idea what a monthly remittance of over $2 billion is to today's Nigerian economy?. What was your national budget in 2021 and what percentage of that budget does $25 billion represent?.

Too many questions, I agree, but I'm trying to jumpstart your knucklehead. Some of you go just open mouth waah, dey talk nonsense. Oluwole economists smiley. Na free oil money wey una "govno" dey go Abuja collect monthly I blame.

Nigeria can easily earn $100 billion a year in remittances from abroad if the government develops and exploits a carefully structured program to export our unemployed graduates trained under our subsidized tertiary education (mis)system.

Our population is exploding and so is the number of youths, both educated and uneducated, entering the workforce every year. In a non-producing country like Nigeria, what is the plan to avert a looming national youth unemployment disaster that will soon engulf this country?.

I do not get time today, chuck mouth for my matter another time wey I get a few minutes to spare make I educate you and your fellow ITK comrades.
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by bdon12: 4:09pm On Sep 03, 2023
Kukutente23:

This shows that the fixation with oil revenue is misplaced. Non- oil revenue is what's keeping the govt running.
And we know the non- oil revenue consists more of different kinds of taxes.
Who said Nigerians don't pay tax?
I do...nigerians dont pay tax like others bliev me.
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by 00FFT00(m): 4:10pm On Sep 03, 2023
Kukutente23:

Toh. Educate me how diaspora remittance is part of govt revenue, Prof.

Abeg, rest Helinus.
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by Kukutente23: 5:20pm On Sep 03, 2023
bdon12:

I do...nigerians dont pay tax like others bliev me.
I don't believe you.
Nigerians pay taxes
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by Shimran(m): 7:16pm On Sep 03, 2023
OGIBRA:
SIMPLY PUT...

Federal government spent 1.4trillon naira more than the amount them make from january to march, according to figures from CBN...

Nigeria, i hail thy ooo...

In the month of January, February and March of 2023
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by Bigkoko: 7:29pm On Sep 03, 2023
The reason why astute entrepreneurs like me root for HE Peter Obi is because he's fiscally responsible and prudent in managing scarce resources! The same can't be same about Asiwaju who is wealthy without Enterprise accompanying it!




Islie:


https://punchng.com/fgs-three-month-expenditure-exceeds-revenue-by-n1-43tn-cbn-report/?amp

1 Like

Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by Buccalcavity2: 8:02pm On Sep 03, 2023
00FFT00:


Look, try to discuss at your level of competence. Do not jump into every discussion because data has become cheap.
Shey people who received these remittances from abroad spent them in Ghana?. When they pay hospital fees, tuition fees, buy at the markets, pay T-fare, buy gala and coke, how much VAT do you think they paid?. What is the definition of income in your mind?.

How much of that money do the manufacturing industries pay as taxes to the government?.

Do you even have any idea what a monthly remittance of over $2 billion is to today's Nigerian economy?. What was your national budget in 2021 and what percentage of that budget does $25 billion represent?.

Too many questions, I agree, but I'm trying to jumpstart your knucklehead. Some of you go just open mouth waah, dey talk nonsense. Oluwole economists smiley. Na free oil money wey una "govno" dey go Abuja collect monthly I blame.

Nigeria can easily earn $100 billion a year in remittances from abroad if the government develops and exploits a carefully structured program to export our unemployed graduates trained under our subsidized tertiary education (mis)system.

Our population is exploding and so is the number of youths, both educated and uneducated, entering the workforce every year. In a non-producing country like Nigeria, what is the plan to avert a looming national youth unemployment disaster that will soon engulf this country?.

I do not get time today, chuck mouth for my matter another time wey I get a few minutes to spare make I educate you and your fellow ITK comrades.
Many words no substance. Brevity is the soul of wit.
VAT is FG revenue. How is diaspora remittance FG revenue is the question not how can it be turned to revenue. Empty skull!
The thread is about fiscal matters
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by 00FFT00(m): 8:10pm On Sep 03, 2023
Buccalcavity2:

Many words no substance. Brevity is the soul of wit.
VAT is FG revenue. How is diaspora remittance FG revenue is the question not how can it be turned to revenue. Empty skull!
The thread is about fiscal matters

Sorry, my bad. I should've known not to respond to a compound idiot. Your academic education is a complete waste, if you received any, that is.
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by Buccalcavity2: 8:14pm On Sep 03, 2023
00FFT00:


Sorry, my bad. I should've known not to respond to a compound idiot. Your academic education is a complete waste, if you received any, that is.
Shut up! You goofed. Face it!
Started grappling at straws to save face. Now you focus on your area of competence for national peace!
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by BALLOSKI: 8:36pm On Sep 03, 2023
Smithkafors:
Nawao…. Deep mess. Carry president give person wey no know anything about government.

Nothing is working. He go assemble the same group from previous government.
You want to blame him for this one,too?
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by bdon12: 2:02am On Sep 04, 2023
Kukutente23:

I don't believe you.
Nigerians pay taxes
How mch tax do u pay for ur car?do u pay LGA tax where u live?
Abroad,d cost of tax n car insurance supersedes cost pf d car.
U pay council tax
N u pay more to d federal govt than we do here.
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by Kukutente23: 7:58am On Sep 04, 2023
bdon12:

How mch tax do u pay for ur car?do u pay LGA tax where u live?
Abroad,d cost of tax n car insurance supersedes cost pf d car.
U pay council tax
N u pay more to d federal govt than we do here.
What is LGA tax? I pay tax for my car. It's called vehicle renewal and inspection tax. If I'm using a car for commercial purpose, I pay some other taxes on it.
That's a lie. The cost of car tax does not supersede its cost in the abroad.
And Nigerians pay tax of all forms.
You're obviously not a smart zombie
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by bdon12: 9:01am On Sep 04, 2023
Kukutente23:

What is LGA tax? I pay tax for my car. It's called vehicle renewal and inspection tax. If I'm using a car for commercial purpose, I pay some other taxes on it.
That's a lie. The cost of car tax does not supersede its cost in the abroad.
And Nigerians pay tax of all forms.
You're obviously not a smart zombie
U hav not lived abroad. U are a local man obviously. Cost of insurance/tax on cars most times xceed total cost of purchase of car.e.g buy a car for £2000 n d paper work for u to use that car can be up to £3000 in uk.To acquire drivers licence alone wit test n all will cost over £3000
I hav travelled to over 15 countries mr ignorant n yet u tink m d zombie.stupid local ignorant man
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by Kukutente23: 10:13am On Sep 04, 2023
bdon12:

U hav not lived abroad. U are a local man obviously. Cost of insurance/tax on cars most times xceed total cost of purchase of car.e.g buy a car for £2000 n d paper work for u to use that car can be up to £3000 in uk.To acquire drivers licence alone wit test n all will cost over £3000
I hav travelled to over 15 countries mr ignorant n yet u tink m d zombie.stupid local ignorant man
grin grin grin
This dude is boasting over a £2000 car. Are you aware that's just N2m car you're boasting of? What's now the difference between you that have traveled to over 15 countries and the average Nigerian that you're boasting of 2m car.
Besides, you're an incorrigible liar. The cost of driving licence in UK is just £34. Show me the licence you got for £3000 you incorrigible lying zombie.
A car of £2000 will cost more in tax due to gas emissions tax which cannot be up to £2000 as you claim.
Sitting down in your village and claiming to travel to 15 countries. Same you who doesn't even know Nigerians pay tax on cars. Do you even have a car to start with?
grin grin grin
Re: Fg’s Three-month Expenditure Exceeds Revenue By N1.43tn – CBN Report by pharmagba: 10:41am On Sep 04, 2023
DukeNija:
Government of lies and deceit. I thought subsidy was eroding our commonwealth according to Mr Babablue.
Now subsidy has been removed, how’re we spending over 1.4trn above revenue in 3 months? Where is the government spending this money?
Does it even make any sense to spend such amounts yet the economy is in turmoil? Aren’t we better off paying subsidy and stabilizing the economy? The government has been channeling the subsidy savings to unknown warehouses even before the economic team kicks off it’s deliverables.

My brother, please read and comphrend well

The information was for first quarter

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