For 2011 Nigerian Senate Approved 4.97 trillion-Naira or $31.8 billion
Let us NOT even get into that old argument on how it was spent.

The task here is simple.
Let us see how you will allocate 2012 Nigerian budet of 5 trillion-Naira if it was up to you.

Here is Mine

50% on paying Salaries
20% on Power generation
10% for Railway development
10% for road maintenance and development
10% for Government and Auditing.


Further

Tax will be 40% for government workers and 5% for businesses
Tax will be automatically deducted from salaries by the State.
The states will get Zero Allocation from Federal government but will receive 100 percent of all taxes from their states.
The federal government will tax each states 20% of total income.
5 best performing states will keep all of their taxes and not pay anything at all.
2 states most be pointed out as the least performing.

For power generation

The 20% percent of the budget allocated by the Federal government will be split into 36 states equally regardless of population.
This payment will go directly to the state governments.
Their task will be to generate 1000 megawatts each
A total of 36, 000 Megawatts instead of the current 4000 Megawatts
They can archive this with private sector partnership.
Once archived all payments for power will go to the State and their private partners.

With this split.

Salaries will always be paid
Taxes will always be paid
Private business will be more attractive than government jobs at 5% tax compared to 40%
Power generation will be competitive by states.
Government's job will be Auditing

and 5 best performing states will pay zero Tax

I'll have to do a lot of research and studies. I can't say 50% on salaries. What if it isn't enough?
What I'll do is take loans and build roads/bridges/railrOads, improve the power sector and build refineries.

Tax Foreign Oil companies 50% of their gross income.
Make sure foreign companies employ at least 50% Nigerians in their staff and management.
Send Spies to every ministry to watch and report acts of corruption.
Set up a school for the gifted and bring the best teachers in to train/educate Nigeria's brightest.

And set up a series of meeting with all Nigerian leaders with the focus on uniting the country and moving forward.

These are a few things I would do.

Our budget is too small. The goal of the budget should be to increase it the following year

jumobi1:


Send Spies to every ministry to watch and report acts of corruption.

I like that you call it spies

Cut the government to make the government very small. All they do is steal anyway, so less the better. But these are the other most important things.
Nigeria needs 70k MW so our economy can boom. All FDI on our resources will be taxed so the money can go to the people.

1. 10 bil on power
2. 5 bil on road network and sewage system all around Nigeria
3. 2 billion on new schools.
4. 3 billion on new hospitals
5. 9 billion on subsidizing agriculture, factories, and refineries.
6. 1.8 billion on military spending (bombs, weapons, cars, etc)
7. 1 billion on controlling climate change

But I know that if Africa controls the resources then that means war. So there will be problems :/ So some money might have to military.

I would also stop taking foreign aid and IMF world bank loans. Also kick out corrupt governors who waste government money. I would also reduce all politicians pay to 0. Politicians work for free and get paid food and security. They cannot receive gifts from anybody for the time they are working. So more philanthropists will be politicians than crooks.

I would also privatize some areas of the government that are not working.

As per proudly naija i wuld first marry anoda ture yaradua and then we talk ova dat in bed.make una giv me d money make i marry ha first

I always read about the need for sufficient energy but never anything about developing a viable solar energy industry. Germany has laws on the books to achieve a goal of mass use of solar power and thus far have been successful. I think more countries should invest in this model.





http://en.wikipedia.org/wiki/Solar_power_in_Germany


Government involvement





Average insolation in Europe.
Solar power in Germany has been growing considerably due to the country's feed-in tariff which was introduced by the German Renewable Energy Act. The FiT costs 1 billion euros per month to subsidize new solar installations and the cost is spread across all rate-payers.[16]

The German government has set a target of 66 GW of installed solar PV capacity by 2030.




Cloudy Germany a Powerhouse in Solar Energy

http://www.washingtonpost.com/wp-dyn/content/article/2007/05/04/AR2007050402466.html

$31Billion for a country like Nigeria is not alot of money. I see a few of you folks appropriating numbers around without understanding the real cost of these services or commodities. To put things in perspective, Mississippi is one of the poorest states (if not the poorest) in the US with a population of 3million people. It's 2011 budget was $4.5billion. South Carolina's budget for 2011 was $21billion with a population of 4.5 million people. So how would you spend $31billion on almost 150million people?

It tells you one fundamental truth about Nigeria - It is a poor country, which is also mismanaged.

So as a manager, do you spend extra resources trying to clean up the system (which is virtually impossible to do) or do you propose new ideas on how to generate more revenue so as to fund projects that create value to society? The obvious answer is the latter.

In the first place, a significant chunk of the funds is used for operating expeditures. Unless you plan to lay off a whole lot of civil servants (even though most are underemployed), then there's hardly any funds for capital investments, which by the way are what helps to stimulate growth in an economy. By the way, even if you spend $10billion on the current inadequate power sector, it will get you no where. On the conservative end, it costs about $1.5B to generate 1GW of electricity. How many GW did you say Nigeria needs again?

My point is, all these accounting exercises are frugile until you really put these figures in perspective and look for new ways to combat poverty. Our sole source is oil and for at least 30years, we have been going round the loop with no real break. Einstein will call this insanity (Doing same thing over again and expecting different results). Misappropriation (or corruption or whatever you call it) is a constant in any economy. What sharp minds do is build systems that will effectively nullify this "waste". Nigeria has to look for other ways to generate revenue and Nigerians need to open their minds. The idea of awhoof is what is killing Nigeria. Emerging economies like China started their big slam by opening up its economy to trade. Deregulation of the downstream sectors (and that would include the removal of subsidies, Privatization of the power industry (just like was done in telecoms), Major capital investments in the Agricultural sector (which will have to include private partnerships) etc will good ways to move our economy forward. Till then, I can add up anything to make $31billion.

Germany is a country that has implemented schemes to produce electricity. Solar is not a significant source of electricity production because it is relative expensive compared to other means. Nigeria has several cheaper means of producing electricity - hydro, coal, gas, etc. These sources are barely tapped.

Afro_Blue:

I always read about the need for sufficient energy but never anything about developing a viable solar energy industry. Germany has laws on the books to achieve a goal of mass use of solar power and thus far have been successful. I think more countries should invest in this model.





http://en.wikipedia.org/wiki/Solar_power_in_Germany


Government involvement





Average insolation in Europe.
Solar power in Germany has been growing considerably due to the country's feed-in tariff which was introduced by the German Renewable Energy Act. The FiT costs 1 billion euros per month to subsidize new solar installations and the cost is spread across all rate-payers.[16]

The German government has set a target of 66 GW of installed solar PV capacity by 2030.




Cloudy Germany a Powerhouse in Solar Energy

http://www.washingtonpost.com/wp-dyn/content/article/2007/05/04/AR2007050402466.html

Delta007:

Germany is a country that has implemented schemes to produce electricity. Solar is not a significant source of electricity production because it is relative expensive compared to other means. Nigeria has several cheaper means of producing electricity - hydro, coal, gas, etc. These sources are barely tapped.

[quote][/quote]


The only barrier of mass production of solar power is the blocking of its progress by the status quo and the vested interest of the petroleum industry, and the greedy corrupt fingers feasting off the profits. Like every other industry, the more units that are produced the more the costs go down. By improving the efficiency with which resources are used, technological change enables a larger quantity of goods and services to be produced with a given quantity of resources. China is also investing in solar power. Also there are free energy patents developed by Nikola Tesla which are kept secret, and under lock and key.

@poster, i can see education is not in ur christmas list!

@poster, i can see education is not in ur christmas list!

Delta007:

$31Billion for a country like Nigeria is not alot of money. I see a few of you folks appropriating numbers around without understanding the real cost of these services or commodities. To put things in perspective, Mississippi is one of the poorest states (if not the poorest) in the US with a population of 3million people. It's 2011 budget was $4.5billion. South Carolina's budget for 2011 was $21billion with a population of 4.5 million people. So how would you spend $31billion on almost 150million people?

It tells you one fundamental truth about Nigeria - It is a poor country, which is also mismanaged.

So as a manager, do you spend extra resources trying to clean up the system (which is virtually impossible to do) or do you propose new ideas on how to generate more revenue so as to fund projects that create value to society? The obvious answer is the latter.

In the first place, a significant chunk of the funds is used for operating expeditures. Unless you plan to lay off a whole lot of civil servants (even though most are underemployed), then there's hardly any funds for capital investments, which by the way are what helps to stimulate growth in an economy. By the way, even if you spend $10billion on the current inadequate power sector, it will get you no where. On the conservative end, it costs about $1.5B to generate 1GW of electricity. How many GW did you say Nigeria needs again?

My point is, all these accounting exercises are frugile until you really put these figures in perspective and look for new ways to combat poverty. Our sole source is oil and for at least 30years, we have been going round the loop with no real break. Einstein will call this insanity (Doing same thing over again and expecting different results). Misappropriation (or corruption or whatever you call it) is a constant in any economy. What sharp minds do is build systems that will effectively nullify this "waste". Nigeria has to look for other ways to generate revenue and Nigerians need to open their minds. The idea of awhoof is what is killing Nigeria. Emerging economies like China started their big slam by opening up its economy to trade. Deregulation of the downstream sectors (and that would include the removal of subsidies, Privatization of the power industry (just like was done in telecoms), Major capital investments in the Agricultural sector (which will have to include private partnerships) etc will good ways to move our economy forward. Till then, I can add up anything to make $31billion.

The USA is capitalism on steroids. Why are you comparing Nigeria to America? They kill millions of people so they can have cheap oil and resoures. They have 25 to 30 percent of the worlds resources and only 5 percent of the population.

i'ld be a mad man about it:
Sort out PHCN properly and make sure teachers' pay is secured.

The other stuff can fuxck off till next time.

It's fine if that is what you think.

There are investors all over the world looking to jump on the next big thing and pour their cash into it as far as they make money. Unfortunately, it's cheaper to produce power through other means than solar. Bulk power generation is the key to "cheap" power in today's world. The moment other resources like coal and gas start becoming very scarce and the price of generation goes through the roof, solar will be given a look; or maybe there will be a major breakthrough in solar technology so that the cells are relatively cheap.

Over the last couple of years, I have been involved in lots of wind turbine projects. In today's world, wind energy is also very expensive. It takes about $2mil to generate $1MW of wind energy; as an investor, you'd never be able to recover your money in 20years with the tarriffs in Nigeria. Wind energy generating stations are the flavour of the day because of government tax breaks to big investors and regulations to utilities otherwise nobody will touch them.

The funny thing about these renewable energy projects is that countries that undertake them "don chop belleful". Nigeria has not even tapped all its hydro resources around the country but you want to pour money into solar; and you folks will be the first to blame Mr President for mismanagement.

Afro_Blue:

The only barrier of mass production of solar power is the blocking of its progress by the status quo and the vested interest of the petroleum industry, and the greedy corrupt fingers feasting off the profits. Like every other industry, the more units that are produced the more the costs go down. By improving the efficiency with which resources are used, technological change enables a larger quantity of goods and services to be produced with a given quantity of resources. China is also investing in solar power. Also there are free energy patents developed by Nikola Tesla which are kept secret, and under lock and key.

igbo2011:

The USA is capitalism on steroids. Why are you comparing Nigeria to America? They kill millions of people so they can have cheap oil and resoures. They have 25 to 30 percent of the worlds resources and only 5 percent of the population.

How does capitalism on steriods change the price of a KW of electricity? Dude, focus on the message.

How I will spend it? Let me think how finance has helped me,


50% on Capital expenditures (15% federal roads, 30% on High speed rail, 5% for Seaways etc )

30% on recurring expense (Govt Payroll)

5% for Profit generating revenue activities (no harm if govt invest in "FOR PROFIT VENTURES)

5% non-profit generating (education, health care obligation, etc.)

10% Security and Defense (8% goes to Department of DoD and 2% goes to rehabilitation of Nigerian police)



Electricity WILL BE privatized,

Parisgoodman:

@poster, i can see education is not in your christmas list!

too many states schools are very poor compared to their federal counterparts, so i would scrap federal schools and allocate better to the states so that they have more and can be more responsible.

More people can benefit.

I would allocate

20% to power generation. And supplement power budget with a N1000 per generator tax. The funds will go directly to renewable and gas powered energy generation

25% to federal government employees. And make sure each ministry generates 25-40% of it own budget. Through fees and pay per use service (airport fees, road toll, car registration fees, driver license fee, per head health care fund fee N1000 annually,
U
15% on Education. 5% to universities. 5% to secondary and 5% to nursery and primary schools. I will require everyone to pay 5% income tax. You must have tax clearance to get any government services, to fly, drive, to enrolled your kids in school. Police can check at checkpoints and impound your car if you don't have it.

15% on roads and infrastructure construction

5% on public transport scheme ( charge bi-annual car registration fee of N5000 to supplement the scheme) use the money to create a PPP loan fund businesses can borrow to fund purchase of buses.

15% on healthcare for all. Employ all graduating doctors  and nurses into a 3 year national service scheme pay them well (what private hospitals pay) and exempt them from NYSC.

Give the rest out as loans to small business men and women. They must have tax clearance to qualify and they will give the bank/government 10 equity that they can buy back in 5 years.

i will use 70% on my efforts to delete corruption.

No big deal here. I would spend it as follows:

20% goes on education (better schools, more teachers)
20% goes on health (well equipped hospitals, higher salaries for doctors and nurses)
30% goes on capital expenditure and infrastructure (roads, railway. power will be privatised)
30% goes on recurrent expenditure for civil servants, presidency, national assembly, armed forces (higher allocation for police)
More privatisation of public enterprises and parastatals (NNPC, Airports, refineries)

The whole idea behind the allocations, is that without a well educated and skilled workforce your economy will not have high productivity
Without a healthy workforce with high life expectancy you will not be able to get the best out of your working population.
Without adequate infrastructure you will not attract foreign investors

At the moment in Nigeria the least productive sectors of the economy (public sector) get the highest budget allocations. Little wonder that we are in a mess! I hope Madam Ngozi is reading this.

Delta007:

$31Billion for a country like Nigeria is not alot of money. I see a few of you folks appropriating numbers around without understanding the real cost of these services or commodities. To put things in perspective, Mississippi is one of the poorest states (if not the poorest) in the US with a population of 3million people. It's 2011 budget was $4.5billion. South Carolina's budget for 2011 was $21billion with a population of 4.5 million people. So how would you spend $31billion on almost 150million people.

Point of correction,the said amount is the budget for the Federal Govt and excludes the amount appropriated to the 36 states from the federation account which is quite substantial,Lagos state alone had a budget of $3billion for the 2011 fiscal yr.
The key issue which has been stated is the misapplication of our commonwealth by the prodigal sons in govt.
As for me,I'll embark on massive prison construction to accommodate all those that a virile anti corruption body and balanced judiciary will displace.

fuugee:



Point of correction,the said amount is the budget for the Federal Govt and excludes the amount appropriated to the 36 states from the federation account which is quite substantial,Lagos state alone had a budget of $3billion for the 2011 fiscal yr.
The key issue which has been stated is the misapplication of our commonwealth by the prodigal sons in govt.
As for me,I'll embark of massive prison construction to accommodate all those that a virile anti corruption and balanced judiciary will displace.

To put things in perspective, Prince Edward Island is a small island and one of the poorest provinces in Canada with about 140,000 residents. They produce almost nothing and their annual budget is about $1.5billion. $3billion is what lots of mid size companies in the West will rake in annually during a recession.

The question you should be asking is, "what is the jurisdiction of the Lagos government?" It's intellectually lazy folks that keep saying "dem they thief money" but when you ask "how much?", they cannot provide any factual numbers. To me, $3billion for Lagos with over 15million people is nothing when you factor in current expenditure. This is the reason why Fashola has opened his arms to private investors to work with them, and this is one reason you are at least seeing some small "traction" in Lagos. If he has to depend on allocation, there will be no major capital investments and you'd be the first to say they misappropriated funds. Again, this is not saying funds are not mis-used and pocketed; there's no excuse but it should be expected. Economic growth and corruption are not mutually exclusive!

INVEST IT ALL and Make Politicians Serve for Nothing, no financial reward for politicians anymore, till 2050, LOL

In d present democratic settings datz peanuts.giv a more reasonable digit pls

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