₦airaland Forum

Brugge:
Bro who ever hired you tell the person I said you are a good hire.Arguing with you on this issue is sensele.

Whatever rocks your boat, i guess making objective analysis means i am hired

drss:
will u say d same tin if it was GEJ

budget implementation and supervision is more of the problem, gej was almost impeached in 2012, the capital arm of that years budget had less than 40% budget implementation. If someone comes out to say if he has discovered an error in what he is supposed to defend, he ought to be commended for such truth. Why the error came about should be the discourse. It tells us the civil servants of agencies and ministries still want status quo , yesterday, it was reported how a particular DG presented the the 2015 budget verbatim as 2016, that is the kind of discourse we should be having, it tells us the ministers need to place less trust on the so called technnocrats.

Reps threaten to Impeach Jonathan over budget execution

The House of Representatives, on Thursday, threatened to commence impeachment move on President Goodluck Jonathan over what it described as poor implementation of the 2012 budget.

The lawmakers also cautioned the Coordinating Minister of the Economy and Minister of Finance, Ngozi Okonjo-Iweala, on the non-release of funds to ministries, departments and agencies of government to implement projects.

They further urged President Jonathan to direct the Mrs Okonjo-Iweala to stop forthwith her violation of the 2012 budget as passed by the National Assembly and release, accordingly, first and second quarters’ appropriation to the MDAs and implement the budget to the letter.

The House’s took made these resolution following a motion moved by Albert Sam-Tsokwa and 20 others entitled: “Poor implementation of the 2012 budget,” noting that, “while the recurrent expenditure has kept pace with expectations, capital budget implementation seriously lags behind and leaves much to be desired.”

According to Mr Sam-Tsokwa, “whereas the majority of MDAs have reached advanced stages in the implementation of the procurement process, they are unable to release contract award letters as a result of the release of insufficient funds or non-release of funds, which has further exacerbated the crushing burden of accumulated debts.”

He said that “the 2012 national budget was passed with aggregate expenditure figure of N4.887 trillion, including the N180 billion for the Subsidy Re-Investment Programme (SURE-P).”

Various chairmen of the House committees that contributed to the debate, which generated heated arguments and emotions, berated the executive for the poor implementation of the 2012 budget and equally frowned on the false alarm being raised by the Minister of Finance that the country was broke.

The lawmakers then submitted that from the data they obtained from various government revenue generating agencies, except the Nigerian National Petroleum Corporation (NNPC), the country’s economy was not doing badly, as most of the agencies were said to have already surpassed their targets.

The Minority Leader of the House, Femi Gbajabiamiala, said that “President Goodluck Jonathan promised Nigerians a budget of transformation, but what we have is a budget of abracadabra and a voodoo economy.”

Backing his impeachment call with Section 143, Mr Gbajabiamila said, “if by the time we resume in September 18, 2012, budget has not been implemented by 100 per cent, we shall begin the impeachment process on Mr President.”

However, the House Leader, Mulikat Adeola-Akande, cautioned the lawmakers on the impeachment threat, stressing that she believed that before the lawmakers resumed from their recess on September 18, 2012, things would have changed for the better.

Jonathan reacts

The Presidency have reacted to the impeachment threat by House of Representatives on President Goodluck Jonathan over budget implementation saying the President is equally worried by the concerns raised by the House.

The Special Adviser to the President on Media and Publicity, Reuben Abati said that President Jonathan was on the same page with the House of Representatives on the need for efficient budget implementation.

He said there was no conflict between the two arms of government, noting that the President was also concerned about budget implementation.

Vanguard newspaper reported Mr Abati as saying “the House and the President are on the same page on budget implementation. Just as the House is concerned, Mr. President is concerned too. What happened today (yesterday) in the House was ironic and a big coincidence because two ministries: interior and police affairs, were in the Villa to make presentations on their key performance index.

“Each ministry came with all the parastatals under it and presented their KPI in relation to Budget 2012. They were required to state their mandates, the money they collected under Budget 2012, their level of performance and their challenges if any and then define their next steps. After each presentation, there was robust discussion.”

woodcook:
You guys have got talents. It baffles me how you guys could come up with excuses for inexcusable actions. Now I know the supposedly propaganda machinery of APC is for real. I give it you guys, you know your craft very well. Bravo! Bravo!! Bravo!!!

what is your point, when something is a draft it means it is subject to change when reviewed. If fraudulent paddings are discovered, then they must be addressed.
Who indicated those paddings is the first question any sane person should ask. Was it pmb or his ministers?I doubt that, although, Yes, they can't be completely absolved, but, certain ministers have decided not to cover up their wounds under the clothing, and exposed it, so it can be treated. The 2016 budget draft error is a good learning curve for 2016 budget implementation and even next years budget draft

OfoIgbo:
Unfortunately for you, Iweala is held in high esteem by the international community and in fact landed two juicy positions on leaving the government.

Kemi Adeosun's first budget as a minister has turned out to be the most fraud-ridden document ever put together by any government of Nigeria.
Yemi Osibanjo who happens to be the chairman of the Nigerian economic team made sure to sort out some funds for some book he wants to write, to the detriment of very important cash-strapped emergencies of the nation.

Kemi and Yemi the Yeyes.

whatever your warped thought process is, the ministers have a job to do, they all clocked 3 months on seat today, the first disaster would have been if this budget draft became an act with its many errors, but the worst disaster is an unimplemented budget. I rember the capital exp of the 2014 budget was less than 40% implemented under your god ngozi, I can recall vividly that history. I like all the ruckus generated over the 2016 budget, it increases the likelihood of its near perfect implementation. The real story that will be more important at the end of this year is the extent of budget implementation.

talktimi:
the problem right now is that ministers can't present a budget different from what the president presented. Buhari will have to officially withdraw this one with shoulder pad

That is still not much of an issue, the ministers can harmonise what they have for each ministries , and a new one is sent to the national assembly with the presidents assent. There have been times in the past when budget were passed in April, that is not to say that is ideal or right, but the current admin is a new one,not just a new admin, but a new party in power after 16 uninterrupted years of PDP. it has a higher likelihood for teething issues.

OfoIgbo:
It took the national assembly and citizens just a few days to start spotting the multitude of errors.

A finance ministry manned by competent people should have spotted these errors in a matter of hours.

Yet again Kemi Adeosun the incompetent, is displaying her stupidity. Of course the Mumu at Aso did not help matters by appointing his ministers months after his inauguration and being a dunce himself.

oh ye tribal bigot, why kemi adeosun, the minister of finance, and not udo udoma, minister of budget and national planning that should have spotted the other errors. Oh, because kemi adeosun is Yoruba and you can't stand her taking the shine off ngoz i. Iweala, the coordinating minister of corrupt economy in the last admin.

since she wants publicity based on what she said, let me help her for those who havent seen her

moshino:
What has being pretty gotto do with having a brain, common sense, class or proper upbringing and manners?

No mind am, if care is not taken, it is with such warped mentality he will pick a life partner

The errors are not beyond redemption, some wailing zombies are crying more than the bereaved. The budget is still a DRAFT and not yet an ACT. Any error discovered now can be corrected , it is a good thing ministers have disowned some of these paddings and are willing to make corrections; that shows integrity. The ministers had less than 30 days to oversee the budget. What the budget errors also shows is that there are still several stubborn goats, mostly civil servants (Dgs,permsecs, Directors, e.t.c) who still want to have a taste of yams from Nigeria's barn. I believe by the second week of March, that is less than a month from now, the budget will be passed, the current government is suffering from teething issues, which is clear , but the wailing zombies always pray for the failure of the current government, so they can wail as they were predestined on March 28, 2015.

Blackkie:
I would like to have the documents also.
Kindly forward to - phortizoltd@yahoo.com

When you do receive the "bomb", i am banking on you to forward it to chinchum256@gmail.com

Let it burn! Speak up , you foooool

Bruce and his fans are Descendants of Orubebe . They can cry a river

grandstar:
First, he banned 41 products from getting forex from the CBN. This forced the importers to turn to the black market causing the naira to depreciate heavily there


Then he refused to depreciate the naira despite strong evidence to do so. This is why the naira keeps losing value at the black market.

JP Morgan delisting was a vote of no confidence on Buharinomics


He is a genuinely honest guy but his economics sucks

Have you any thought, Nigeria could run out of Forex, this happened in Venezuela. Venezuela is an oil rich economy like Nigeria, but their economy is in tatters at the moment. Nigeria's foreign reserve is currently at 27 billion usd, and fast depleting., it was close to 70 billion usd at some point in time, we are now at a 11 year low of our nations foreign reserve.
Don't be too moved by what the bretton woods institutions wants Nigeria to do, or even what bretton woods trained individuals think we should do with Naira. We all knew the aftermath of the devaluation of Naira in the early 90's. We are virtually not exporting anything tangible apart from crude oil (90% of exports), the middle class increasing in population means taste for imported goods is increasing, something must give way for us to stay afloat. What is the essence of devalueing your currency, when you are only exporting commodities like oil,and cocoa that the prices are sinking?

By how much should Naira be devalued? How did you arrive at N230? why not N280 or N300?

J.p morgan problem with Nigeria started with GEJ not buhari, although we were delisted in sept. 2015, they had since january 2015 issued threats .

Obiagelli:
I hear many of them where already asking why projects were not spread accross the 6 zones. we have very primitive clowns in government that believe if a road is being done in Anambra, another one must be done in jigawa.

Very useless animals

They are actually complaining about states and not zones. The ministry of works has spread the projects across Zones.
But a project like second Niger bridge cited in SE , a project like lag-ibd expressway cited in SW are better completed speedily than many miniature projects suffering lack of prioritisation and ends up not completed after 4 years.

Very necessary, to those zombie senators, every one wants projects to be allocated within their states, projects that many will get stagnated, but he has scattered the projects across the geo political zones instead, and placed priority on them , at the end it is close to certain they will get completed, and they can move to the next one.

God don use basket to fetch water to disgrace bucket eh !

There are several girls auditioning hard to become a model, but she got hers while striving to earn a livelihood.

lol @ mannequin senator !

Of a truth, Bruce usually looks like a mannequin displayed by ibo boys selling clothes, especially when he is on ebola hat.

Seized properties of looters can be sold to raise cash, it seems top foreign countries are willing to send repatriated money to Nigeria.

ogahug:
TSA was launched by GEJ in January, 2015 . TSA required BVN for full implementation. It was the same GEJ that initiated BVN policy that was needed for TSA full implementation. Though Buhari tried to acknowledge GEJ; he yet ended up discrediting him. Let's leave this blame game. You've not created any program for yourself ; yet you keep blaming him that created a blue print for you. Let's not be economical with the truth.

As to the boldened, it is not true, TSA did not start in Jan 2015, it was since 2012 or thereabout, the problem was the political will that was lacking to enforce it. Even System specs , owners of the Remita software alluded to the fact that the political will of the government enforcing TSA was missing.


Below is the view of MD systemspecs , the admin of the REMITA software about TSA

http://dailypost.ng/2015/11/16/remita-boss-obaro-writes-buhari-explains-all-about-tsa-contract/
TSA, the movement of Federal Government funds into the CBN was directed by President Muhammadu Buhari on assumption of office.

System Specs, in a letter to the President, signed by its Managing Director, John Obaro, said the contract for the refund of the money by the commercial banks to the CBN was signed in 2011.

Former President, Dr. Goodluck Jonathan, endorsed the contract while the Emir of Kano, Sanusi Lamido Sanusi was then the Governor of the CBN.

System Specs, in the letter to Buhari, said the N25 billion profit it was alleged to have made from the 1 per cent processing fee approved for it was actually shared by the company, the CBN and banks involved in the refund of the money.


It said based on an agreement, the processing fee was shared among itself, the affected banks and the CBN in ratios of .5 %, .4% and .1% respectively.

It said instead of the N8 billion, which the incumbent Governor of the CBN, Godwin Emiefile, said got to it, the company only received N3 billion.

The letter by Obaro to Buhari reads further: “Your Excellency, we are aware that you must have heard series of reports around the 1% processing fees chargeable on e-Collections of Government receipts. We will like to provide some background on these issues sir.

“System Specs was engaged to provide the Payment Gateway for TSA in 2011. While the payment leg of TSA commenced in January 2012, the collection component did not start as scheduled due to the resistance from a number of quarters and the absence of the political will to push this through.

“In 2013, CBN and OAGF setup a multi-stakeholder implementation committee and organised a joint seminar with key stakeholders, including banks, to agree formalities for commencement of e-collection.

“The Banks proposed a fee of 5% to compensate for the fact that they would no longer keep float.

“The implementation committee however recommended 2.5% after negotiation with the banks.

“The then AGF later approved 1% as processing fee, which was in turn communicated to all the stakeholders through CBN in December 2013. Subsequently, we executed a contract with CBN and other stakeholders involved on the provision of services to support TSA.

“Based on the increased scope of the TSA project, following your directive in August 2015 for all MDAs to join the scheme, we had highlighted the need for a stakeholder meeting to discuss the TSA e-collection fees. This was communicated to both CBN and OAGF.

“Instead of an invitation for a stakeholders meeting as requested, we received a directive from the CBN Governor to refund all TSA e-collection fees earned to date and to suspend all charges on the platform.

“System Specs has since complied fully with this directive and refunded all monies earned to date to CBN. This we did in good faith and without prejudice to avoid distractions that could becloud the bigger potential of the TSA project for our country.

“While we await clarification from OAGF/CBN on the way forward, we have since suspended all TSA e collection fees on the platform. This means that none of the TSA collection parties/channels are earning any fees for providing services to Government.

“This position is however not sustainable as the collection partner banks are threatening to suspend FGN TSA collections. This would clearly be playing into the hands of those who do not wish this initiative to succeed.

“We understand the strategic importance of the TSA project to this administration and the country at large. We have demonstrated good faith and continued commitment to the project in the last four years to deliver on our mandate.

“We will continue to do all within our power to bring the project to full term.

“Your Excellency, we would appreciate your kind and urgent intervention to ensure a speedy resolution of this matter before the banks stop collections.”

Built2last:
When I was in zaria, I entered a family of a man that had 27 children from 4 wives. My own father has 4 other brother's. They all have a total of 13 children. That's 4 men
Up north, one man has 27 and counting.
We must take the minister for agriculture serious. He knows what he is saying. IMO, 2050 is too far. The north already has 25 million almajiris roaming the streets.
Do you know how many children Atiku, Saudi and Co have.
Very unfortunate ...
Watch them come here to tell you it's religion.
Does religion shroud common sense?
Lalasticlala your admired governor has sharpened his langa langa for fresher puma.

There is nor much of a problem if an individual of Tambuwals status has 100 kids, i guess he can afford to take good care of them, but the real headache is the extremely poor ones who breed like pigs and turn those heritage of God to Almajiris.

I have a feeling Boko Haram will not die completely, until the Core North fully embrace modern education, and ban completely kids of school age roaming around the street , with a commission established to strictly enforce it.

chudionu58:
Stop that propaganda please, TSA was never muted but actual phased implementation commenced in 2013/14...
http://sunnewsonline.com/new/okonjo-iweala-backbone-of-a-rising-economy/ http://dailyindependentnig.com/2015/01/fgs-deadline-mdas-treasury-single-account-tsa/
http://www.eletiofe.com/fg-moves-mdas-capital-accounts-to-cbn/
I don't know why idiots called "resident nairaland APC zombies" must be lectured on same issue, over and over!.... Tufia!

Do you even know what it means when they say an idea was muted?? you comment like an ignoramus

Pidggin:
GEJ/NOI came up with the subsidy idea and were opposed

GEJ/NOI came up with the idea of saving the revenue from excess crude oil, they were opposed by the opposition

In Democracy, it is not about guts, but about the support you get from stakeholders.

GEJ/NOI had few supporters, also the fact that they are both from minority regions made it worse. Nigerians are 100% tribalist, it is irritating.

Buhari has the support of the North/SW, and now he is free to implement the programmes and ideas of GEJ's govt. Why the hell will he brag, insult the man and still copy his policies?

If GEJ had wanted to enforce TSA, he would have, heavens wont fall, spare the defence sermon.
From 2013 that TSA was muted till 2015 is not few hours, days or months.

The grammar is atrocious, it doesnt appear the person who forged this put in a lot of effort to get this done.

The two things we have to work on are

(1)Our yield, the current yield for our agricultural practices are far from being optimal. A farmers whose cow is producing 2 litres of milk daily can not compete with his/her foreign counterpart whose cow is producing 8-10 litres of milk daily. Same applies with plant yields.

(2) Mechanisation of farming , meaning subsistence farmers must be merged together in to co-operative groups with allocated portion of lands, trained and make to produce using modern techniques .

It is not rocket science to know that is what we are experiencing now, nothing really tangible in capital projects will be done except 2016 budget is passed. The 2016 budget draft failed to close up many loopholes, and nothing suggests it was based on Zero budgeting as initially canvassed, but the 2016 budget draft is still remarkably better than the 2015 budget. We expect National assembly committee members to close up the loopholes a case study is the infamous 10 billion naira to be spent on educational parastatals that was kicked against days ago by the senate committee on education.

I think it is a well known global therapy. It didnt start in Lagos Op. There are several proven research on its efficacy. Cut those individuals some slack.

D Those that are drinkards, can they show the bungalows and dupexes they now own for not drinking.

Moronic post !, so the statements he makes in Nigeria, they hear about it by reading their palms?

Many of you have low IQs, and jump to embrace any narrative in the media space, without sparring a thought about the depth of the narrative.

Any thing Buhari says anywhere has to be reported by the media houses, for 99.999% of Nigerians to hear about it.

eh ya!

grandstar:
400 to 1 is simply 1 step forward, 10 steps backwards.

52% of raw materials used by manufacturers are imported. So it will shoot up their cost snd many of these inputs have no local substitutes.

Also world class machinery which will make the manufacturers very competitive has to be imported.

Imports any way has never been the country' s problem. The primary problem iss that Nigeria does not export

There is priority given to manufacturers to access the dollars at official rate of 197 in quest to import raw materials/equipments.

Should naira be devalued today from the official 197naira/usd, do you in your analytical mind think the parallel market /black market will remain the same or shrink? It is a big NO, it will most likely make the naira get to the 400 faster than it can ever get to.

Great idea.