₦airaland Forum

csamii:
Buhari no get sense ni! Can't he see that oil is a thing of the past. Why won't he look for another source of revenue for this country?


Chai I forget say buhari no get sense sef.

I tire o

Pavore9:
I love the emphasis on solid minerals and agriculture.

We want more than just talks. What plans are on ground to really explore the potentials in them. You can't just wake up one day and start getting revenue from those sectors. What work has been put on ground to bring in money?

For those criticising Sani, he's only paying el Rufai back in his own coin- criticise anything without thinking. If this were to be under Jonathan, wouldn't el Rufai criticise it more than this?

Keynote speaker in US while Buhari is busy attending owanbe in Benin Republic.

Senators on Wednesday disagreed on the $38 per
barrel oil proposed by the Federal Government as
the oil benchmark for the implementation of the 2016
budget which was contained in the Medium Term
Expenditure Framework and Fiscal Strategy Paper
forwarded to the upper chamber on Tuesday by
President Muhammadu Buhari.


The senators also expressed divergent views on the
continued payment of subsidy by the Federal
Government in the next fiscal year going by the
current hardship being faced by Nigerians as a result
of the current fuel scarcity in the country.
While some senators who spoke during the debate
on the document agreed with the Federal
Government’s position on oil benchmark because of
the falling global oil price, others believed that many
state governments would be thrown into further
financial mess if the benchmark was not increased.


The Deputy Senate President, Ike Ekweremadu, who
opened the debate, noted with regret that the usual
habit of the executive to submit both the MTEF and
the annual budget to the National Assembly late
every year was counter-productive.
He insisted that the unwholesome act usually forced
the legislature to carry out shoddy jobs, which he
maintained, was not good for the critical
consideration of the annual financial document.
He said there was the need to raise the oil
benchmark from $38 to $40 per barrel, describing
the $38 per barrel benchmark proposed by the
executive as conservative.


Ekweremadu expressed the hope that the global
price of crude oil had the potential to rise to about
$55 per barrel in the next fiscal year.
He said that increasing the benchmark to $40 per
barrel would be of immense help to many states of
the federation which he said had been struggling to
pay salaries.
But Senator Adamu Aliero (APC Kebbi Central) said
$40 per barrel was unrealistic because “from what
we have been hearing, oil price may continue to fall
even below $38 to $34.”
He said, “I will recommend that we take $35 per
barrel. It is not time for Nigeria to take a firm stance
on the diversification of our economy; we can no
longer rely on oil as the major source of our
revenue.”


Also Senator Ahmad Lawan, (APC, Yobe North), said
the government’s decision to peg the oil benchmark
at $38 was in order.
He said, “We can do better in the next few years
having suffered in the last couple of years. It is likely
that the prices of oil will improve so we should retain
the $38 per barrel proposed.”
He urged that other sources of revenue generation
should be tapped into to fund the budget.
However, Senator Solomon Olamilekan believed that
the $38 oil benchmark should be retained but that
the committee should still reconsider the
implications.
He faulted the 30 per cent for capital development,
stressing that it should be 40 per cent, in order to
engender rapid development.
Senator Jibrin Barau disagreed with calls for the
removal of fuel subsidy, describing it as a kind of
welfare arrangement for Nigerians.
He berated the United States for asking Nigeria to
remove oil subsidy when the country (US) had a lot of
welfare packages for its citizens.


In his submission, the Chairman, Senate Committee
on Finance, Senator John Eno, noted that the bulk of
the revenues for the funding of the budget would
come from non-oil sources, describing the move as a
departure from the known tradition when budgets
were prepared on the basis of projected revenue
from the oil sector.
He, however, expressed concerns that the document
placed more emphasis on solid minerals and
agriculture without considering industrialisation.
Senator Solomon Adeola (Lagos West) frowned on
the government’s N1.8tn projected borrowing in
2016, saying piece-meal borrowing would not be
healthy for the nation’s development. He advocated
the need for heavy borrowing to drive rapid
development.
He noted that Brazil developed its economy through
borrowing, and that by Nigeria’s recourse to meagre
borrowing plan in 2016, the Federal Government
would soon return to the National Assembly to seek
permission to borrow more.


Also speaking, Senator Ben Murray-Bruce (Bayelsa
East), lamented that the 2016 projection was not
better than 2015 budget estimates, and advocated for
the deregulation of the petroleum sector.
He, however, said that the Federal Government must
make adequate arrangements to cushion the effect of
the action.
He canvassed the need to borrow heavily to the tune
of N50tn for the rapid transformation of the nation’s
industrial sector.
He also canvassed the need by the National Assembly
to review the budget every three months.
He said, “This budget is not different from last year’s
budget. There is disparity largely in the area of
exchange rates. All successive governments have
made the wrong argument on deregulation.
“The correct price of petrol is usually found in Abuja,
Lagos and Port Harcourt. Government should ask
what the price of transportation is, not how much a
litre of petrol is.”
“We should think of a mass transit policy which will
cost not more than N100bn which is about 10 per
cent of what we spend of subsidy.
“If you spend the same amount of money on
transportation after deregulation, nobody will protest
on the street. Nobody in the United Kingdom or
United States knows the price of petrol but in Nigeria,
everybody knows because we have made the wrong
arguments.
“If you have to borrow N50trn, then borrow it and
industrialise Nigeria over night. We must look at the
budget every three months and adjust it as we go on.
It doesn’t matter who the president is, our interest
should be Nigeria.”
Senator Tayo Alasoadura (Ondo Central) said
borrowing in trickles does not promote development,
explaining that huge borrowing which spans 50 years
will go a long way to foster growth and development
of the economy.


Senator Barnabas Gemade (Benue North-East) said
huge borrowing would give Nigeria the platform to
advance the nation’s economy.
According to him, people are always aggrieved about
borrowing because the purpose was usually being
misplaced.
He noted that if borrowing was geared towards
enhancing internal production, Nigeria’s economy
will rise to the level of Japanese and Brazilian
economies.
Gemade also cited China as one of such nations
which he said borrowed to transform their
economies.
Senator Albert Bassey (Akwa Ibom North-East)
advocated outright removal of fuel subsidy,
regretting that the pump price of fuel was being sold
at N87. 00 only in Lagos, Abuja and Port Harcourt.
He also stated that in Akwa Ibom and several other
states, fuel was being sold at the the pump price of
N97.00.
“Where then lies the interest of Nigeria on subsidy in
this?” Bassey asked.

The document was referred to the committees of
Finance and National Planning with the mandate to
report back to the Senate next Tuesday.
The Senate also confirmed the appointments of Mr.
Babatunde Fowler as the new Director-General of
Federal Inland Revenue Service.


www.punchng.com/30-oil-benchmark-subsidy-payment-split-senate/

Leopardd:
Will he pay on N55million allocation for a whole state of osun, guy have mercy nah

The guy don over borrow nah. And most of our banks these days are behaving like Lapo Microfinance, dem no dey joke with money.

An economic expert, Uche Uwaleke, on
Wednesday expressed concern over the
proposed oil production of 2.2 million barrels
per day in 2016, saying the projection might
not be feasible.
Mr. Uwaleke, a professor, said in an interview
with the News Agency of Nigeria (NAN) in
Abuja that the country might not be able to
meet the production target.
“So for the output, we would have gone for
something that is a little beat lower,” he said.
On the government’s plans to spend more on
capital projects, the expert said it was
necessary, considering the state of the
country’s economy.
“As a developing country, we need to spend
more on capital projects because that is the
only way we can grow the economy, so it is a
welcomed idea,” Mr. Uwaleke said.
He praised the pledge by the Federal Inland
Revenue Service, FIRS, and the Nigeria
Customs Service to generate up to N4 trillion
for the economy.
According to him, if this is achieved, the
government would be able to generate its fund
from the non-oil sector as proposed in the
2016 budget.
He further commended the efforts by the
ministry of Budget and National Planning to
provide a workable budget proposal for the
country.
Mr. Uwaleke said the proposed N6 trillion
budget for 2016 by the Federal Government
was commendable and very realistic.
“The decision is in order and the amount will
go a long way at resolving most of the issues in
the country,” he added.
He said the oil bench mark of 38 dollar per
barrel was the least the country had had so far,
adding that there was every indication that it
could be achieved.
“It has been well analysed that oil will not drop
further, that is below 38 dollar per barrel in the near future.
“I believe the proposal is realistic. Right now it is about 40
dollar per barrel, the supplementary bench mark was 48 dollar,
so I think a low reference is realistic,” he said.
The Minister of Budget and National Planning, Udoma
Udoma, had said the federal government was proposing a
budget of N6trillion with a 38 dollars oil benchmark.
The minister said the proposal was contained in the Medium
Term Expenditure Framework, MTEF, approved by the Federal
Executive Council.
Mr. Udoma said the funding for the budget would come from
earnings from the non-oil sector and most of the increases
would be spent on capital projects.

www.premiumtimesng.com/news/more-news/194933-buharis-projection-of-2-2m-barrel-per-day-not-feasible-expert.html

fistonati:
Its long overdue, they will soon start hulling sachet water on Aregbesola himself to show their displeasure

"Aregbesola is the best performing governor in Nigeria"- APC e-warriors
The same useless he-goat that has refused to pay my dad's pension.

Anybody will just write any trash and start calling Lalasticlala

So OP you mean anytime I go to Calcutta in Apapa or. Goodtime in Mushin or Shadow in Isolo Road or Happyano in Olateju or Express in Itun Agan or etc etc I should not use condom for Loveth, Rosemary, Tina, Vivian, Blessing, Joy, Gift, Glory, Veronica

We don see

Chubhie:
Tolexander, Call your boys to order.

Kikikikikiki
Pure wickedness is like peak it's in you.
Chai! You wicked o

Rossikk:
What 'truth'? You must be a dumb fool. Either that or you haven't researched the racist, ignorant vomit that has been emanating from his nasty lips.

If you are not silly, you won't use that offensive word over there. Trump is just a man who's sick of innocent people getting killed daily by some sick-minded deluded monsters who claim to be fighting the cause of a blood-sucking demon called Allah.

mazzi:
Kikikikikikilki southweste sef

Smh. With all our efforts, time and resources just to prevent this yet you finally ran mad.

Some teachers at Anglican High School and Adenle
Middle School in Osogbo narrowly escaped being
shot when some cultists invaded the school
compound and chased out teachers.
The school which houses student population of
about 7,000 is made up of Anglican High School 1-5
and some students of Adenle Middle School.

Our correspondent gathered on Thursday that the
crisis was caused by some students who knew they
could not pass the qualifying examination the state
wanted to conduct to select those whose WAEC fee
would be paid by the state government.

But some said the crisis started last Friday when a
student identified as Toib and his colleagues stormed
the school premises with dane guns to attack a
member of Osun Youth Empowerment Scheme ( O’
YES cadet) who they had issues with.
A teacher told our correspondent that Toib and his
gang chased a female Home Economics teacher out
of the class when the trouble started.

The invasion of the school forced other students and
workers to flee.
The Friday invasion was said to have forced the
school authorities to invite policemen but the cultists
mobilised more members and attacked the police
even on Monday.

The development, it was gathered led to the
instruction given to the teachers by the Nigeria Union
of Teachers that all teachers should stay away from
school because of the threat to their lives.
It was further learnt that the Osun State Ministry of
Education had also closed down the school to
prevent any death.

The Permanent Secretary of the Ministry of
Education, Mr. Lawrence Oyeniran, when contacted
declined to make any comment on the crisis.
He said, ” This is a subject I don’t want to talk about.
Maybe you can see the deputy governor and ask her
your questions.”

However, the NUT chairman, Mr. Amudah Wakeel,
when contacted said the crisis was so serious, adding
that some of the teachers were lucky to have escaped
being shot dead by the rampaging cultists.
Wakeel said, ” Some cultists among the students
invaded the school. They wanted to kill some of the
teachers. They took dane guns to the school but our
members were fortunate.
“A member of ‘OYES’ cadet was injured with an axe
by the students but he survived. The police were
deployed to prevent the situation from leading to loss
of lives. We have instructed our members to stay
away from the school because of the threat to their
lives.
“The union has the power to instruct members not to
go to school if their lives were threatened and this is
exactly what happened. The teachers stopped going
to school and the government has closed down the
school.”

The Police Public Relations Officer, Mrs. Folasade
Odoro, when contacted told our corespondent that
seven suspects were arrested in connection with the
crisis.
It will be recalled that a teacher at the Oosgbo High
School was injured with an axe following the bloody
clash between students of the school and students of
Government Technical College, Osogbo, in 2014.


www.punchng.com/pupils-attack-teachers-with-guns-in-osun/

Rossikk:
[size=15pt]If he likes he can poll 100%. He will never be the president of the USA.

Fascist bastard.[/size]

For saying the truth?

"Stunning" the most abused word on Nairaland

The man that always thinks governance is by power point presentation.

We don hear

thundafire:
and nw dy police wen dy see him dy serves as his body gaurds life truly changes not some idiots dat have nothing 2 offer dy world after released

Police serving as whose bodyguard? That is USA not Nigeria, police don't serve as bodyguards to private citizens except those under federal custody. If Bill Gates needs protection, he'll get private guards not police. That is USA not Nigeria where policemen guard banks, nightclubs, churches, hotels and even naming ceremony.

From the stable of APC Productions.

Ok o

meccuno:
There Is Nothing Nigerian About the army when 90% are made up of Northerners

Northernisation of the Nigerian army was a deliberate policy that was started in the 60s to overpopulate the army with northerners so as to hold a leverage over other parts.

And when FFK called them tse-tse flies some children of hate and anger insulted him and poured invectives on him. They go about attacking peaceful villagers and they seem to always get the upper hand because they carry AK-47 about unhindered while the villagers are unprotected. A farmer with an ordinary shakabula will be arrested by the police for unlawful possession of firearms while the foolanis are at liberty to travel with machine guns if they like.

I still remember when I was still in JSS in a particular part of Oyo town called Isale-Oyo (notable for their non-compromise attitude and effective jazz). Some fulani herdsmen invaded farmlands and destroyed crops with their cattle. After some scuffles which didn't result in any settlement, the farmers went home to do what they do best. They invoked Sango on the cattle and just like film the thunder struck and killed all the cows piling them on top the other. The herdsmen had to go and meet the Seriki Hausa of the community to lead a delegation to plead on their behalf before the case was forgotten.
If there is anything the people of Isale-Oyo are good at, it's invoking thunder. There is an area there called Koso which was reported to be where Sango entered the ground. A trip there will show you different shrines dotting the landscape with lots of churches and mosques.

Finepaparazy:
LOLZ...

CLICK THE LINK TO SEE ALL THE PICTURES BEFORE YOU CRITICIZE..







LIKE A TAXI THAT CATCHED FIRE TODAY IN MY TOWN WHICH AM STILL WRITING AN ARTICLE ON IT, WHEN I PUBLISH U WILL SAY ITS GRAPHIC DESIGN..

Well I will like to read about the taxi that "catched" fire.

TRUE, he was my kinsman, but I brought out the knives and tore apart his policies, actions and inactions every time he goofed. I didn’t spare him because he was my blood, but simultaneously, I didn’t sit on my high horse and condemn him either… I simply lauded what demanded applause, but stringently also, I castigated and reprimanded others that fell short of expectation. How tall were my hopes of his administration? The Himalayas would not come close in comparison. However, the dreaded ‘but’, that dashes the expectation of the righteous, came in the way. As his final days on the highest pedestal of power as the nation’s number one man approached, the country fell into deeper anarchy- fuel became gold, rare and expensive, electricity, from its usual epileptic attacks fell into a certified state of comatose. Market prices went over the roof and our naira, shrunk horrifyingly in the face of the dollar like Jack, before the legendary giant in the myth of Jack and the bean stalk. Not to mention the continuous ravaging of the North East by sardonic devils at night and day. Concurrently, I started almost every column I wrote in those times wailing. On some days, I sobbed like a forsaken koala in the heart of the eucalyptus forest abandoned by its mother; and on other days, I shrieked in agony like the orangutan (bush baby) in the belly of an evil forest. My lungs went dry, my throat got sore and my voice broke like cracked mud. But another voice, whose shouting equaled, but surprisingly, superseded mine, was that of the erstwhile opposition- APC. While I shouted for the deliverance of the Nigerian people, they screamed “give us the baton of leadership”. While I screamed and pleaded with divinity for mercy on a nation perturbed with innumerable woes whose citizens were continuously assailed by wraiths, they insisted on taking over the reins and the whip, so they could push the derailed horse back on track. So, when Muhammadu Buhari clinched victory in the presidential elections earlier this year, I took away my sack clothes, gathered the ashes into an urn and by default, the fountain of my tears dried up. I thought that Veracity’s wailing days were over. I imagined that Veracity’s mourning and that of over 185,000,000 other Nigerians scattered all over the four cardinals of the nation had come to an end. Alas, the chorus of our collective wails was only getting modulated to achieve a higher pitch! Before the victory, the opposition pointed tainted fingers at GEJ’s administration. Earlier this year, even the most mundane occurrences, devoid of any national significance, were blamed on GEJ’s administration. In fact, if the cock refused to crow in the South West or the goat defaulted to bleat in the South East, it naturally became GEJ’S fault. So, we gave them the opportunity they so craved. We gave them the baton they vigorously clamoured for and we let them sit on the stool their backsides itched uncontrollably for, but where has that got us as nation? Our woes did not magically disappear with a wave of PMB’s magic wand. In reality, we are plunging into murkier waters and doom sits at the corridor of the nation, legs crossed, humming a melody, waiting to engulf Africa’s giant. Is this the change countrymen were willing to shed their blood for? N150 fuel pump price in the South West and higher variants in other zones with queues that mirror the waiting line on the pathway to Hades’ abode, dry and empty filling stations, shameless disowning of national promises, irked investors pulling away from the country, continuous plummeting of the strength of the naira, plunging benchmark stock index that was described as the third worst global performance and the icing on the top of the poisonous cake- policy inertia. Could PMB’s ship be stuck in the middle of the Red Sea? There seems to be no strategic presidential plan to take the people through a dry path and this could be consequent of a colossal national disaster as it appears we are tottering at the edge of an Armageddon, but ‘Baba go slow’ has not decrypted the engravings on the wall. Sadly, neither have the self acclaimed clairvoyants he surrounds himself with. The winds are whispering carelessly of sedition in the East. Young minds who feel impoverished are mapping out their plans to exhume a body that was buried remotely in the days of their ancestors, but can we fault them? Isn’t an idle man the object of the craftsmanship of Hades himself? Perhaps if a good percentage of those Eastern youths were gainfully employed, enjoying the bliss of a fulfilling career, they may not have allowed to linger for a second the thought of soiling their innocent hands by meddling with something the elders had long buried. Those ghosts, when resurrected, will chronicle untold hardship, but do the children have a scintilla of clue? I wouldn’t digress into that today, for it remains topic for another day. What we should ask this administration, whose armada docked at the nation’s shore of power several months ago, is this - was there ever a foolproof strategy in place to lead this nation from its place of gargantuan throes to the still waters of sanity? Was the change we all chanted just another inconsequential mantra? PMB assured us that Boko Haram would be ‘yesterday’ by the end of 2015…. Count down, but we have more raids, more suicide bombings and more griefs. Is this administration really capable of taking us to the Promised Land? How on God’s green earth are we expected to felicitate and sing Feliz Navidad in a few days if fuel pump price remains ridiculously high and ultimately will have an inflationary effect on the price of chicken, Christmas clothes and soft drinks? I desperately hope that our national plights and decisions taken will not, at the end, mirror that of the mythical man whose first wife was never good enough for him and hence, married another. We all must remember that the naggings and rantings of the second drove him back to the first! These are troubled times and things are falling apart. Masters’ degree holders are on jobs that pay stipends, the nation’s education standard decomposes, its fat maggots — unemployment and underemployment — have gained the status of normalcy. The song writer sang ‘Which way Nigeria?’ but I will rather end this column by asking this question, which way PMB?

Our communities, youths, women and even the police are becoming increasingly helpless against these Fulani men. There were so many of these cases when I was serving in Cross River. The FG should do something about them. If the FG can't, governors should take drastic or proactive steps.

armadeo:
1

Bros u wicked o

I won't talk sha.

How to blog in Nigeria 1. Find a random picture 2. Cook up a befitting story 3. Post it on your blog 4. Expect traffic