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Tinubu’s First 6 Months: FG, States Spend Hugely, Citizenry Not Feeling Impact - Politics (5) - Nairaland

Nairaland Forum / Nairaland / General / Politics / Tinubu’s First 6 Months: FG, States Spend Hugely, Citizenry Not Feeling Impact (10318 Views)

Prepare To Receive, Distribute 6,100MW Of Electricity In 6 Months, FG To Discos / States Spend ₦‎1.7 Trillion On Trips, Meals, Others, Borrow ₦‎988 Billion / 9,000 Autogas Filling Stations Take Off In 6 Months – FG (2) (3) (4)

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Re: Tinubu’s First 6 Months: FG, States Spend Hugely, Citizenry Not Feeling Impact by Exceed15: 4:02pm On Dec 02, 2023
You got what you ordered. Foolish supporters.

1 Like

Re: Tinubu’s First 6 Months: FG, States Spend Hugely, Citizenry Not Feeling Impact by Blackdisciple(m): 5:38pm On Dec 02, 2023
Lolzzz first six months was actually APC and what they can offer in next 7years plus.

APC is HIV
Re: Tinubu’s First 6 Months: FG, States Spend Hugely, Citizenry Not Feeling Impact by Vision101(m): 1:03am On Dec 03, 2023
@PrinceOfLagos

You supported a thief and expect a miracle from God ?

Are you not mad?

@me
So the president, all state governors and local government chairmen are all thieves because the funds went to them. By implication all parties are thieves. So you live in the land of thieves. Therefore you are a thief.
Re: Tinubu’s First 6 Months: FG, States Spend Hugely, Citizenry Not Feeling Impact by grandstar(m): 10:33am On Dec 04, 2023
4Play:
Compare the amounts shared recently to the same figure in 2015 and you will see that spending in naira terms has doubled at least. The problem is partly that the purchasing value of naira has severely declined in the last 9 years as can be seen converting these sums to the dollar. Adjusted for inflation/depreciation, spending has gone down.

https://www.channelstv.com/2015/06/23/faac-fg-states-lgs-share-n409-3-billion/

https://dailypost.ng/2015/08/27/faac-fg-states-lgs-share-n511-8bn-for-july/


On May 2015, the exchange rate at the official market was circa 197. Today, it is 789. In real terms based on the sums allocated, there is an increase.

Using the parallel exchange rate, as at May 2015, the dollar was 215. Today, it is 1,150.

When calculated, it seems in real terms, the spending seems to have double in dollar terms. But again, the devil is in the details.

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