₦airaland Forum

Geniro:
Dropshot is an imbeciile. a shameless APC goon.

Broke a.ss

Come for money to enjoy Christmas.

Geniro:
Zombie STFU. you dare talk about favors in support of a govt owing her staffs salaries.

How can you talk about december salaries when a substantial number of people are yet to even perceive their November salary.

You existence is cursed.

Mumu, you no get savings? Abi na me dey owe you. Useless thing.

Uten9z:
it is foolish to season with u ,all fg received their salaries usually on 25 or b4 since inception now is receive on the following month that is to say at least 10 days have been added indirectly to fg workers without pay by shifting d pay day,mind u 25 or 31 date of payment should be stable and accommodates all odds and by next pay if u count is still 30 -31.

Mr. Intelligent Dolt, does the fact that you get paid on 25th make you to have earned that month's salary?

The argument is not whether it's right or wrong to pay before 30th. It is whether it is wrong not to pay before 25th or 30th.

Where has simple logical reasoning gone to?

cephaswizzy:
stop hating. No pay! No gain!

Pain!

Geniro:
Zombie Federal health workers are yet to collect their november salaries despite promises of getting paid on or before 21st December.

This fool is here talking about favours.

Dolt, we're talking about December 2015 salary. The argument is beyond you?

odun99:
Hey,
Don't fight it.
Just accept defeat.
Those guys have finished you.
Tnx

How? With my posts having more likes than theirs? Common sense dey?

feaworaoja007:
you and the 57.People that liked your posts are wicked jobless envious people! And you"ll all keepp languishing in such wickedness,envy and penury

That tells you the post makes sense die. Your salary, though may be paid before the month comes to an end, but is not "earned" until the month ends. What is difficult in that statement and how does it get you to chun out curses to people.

You need job?

2odd:
this dropshot is a newbie on NL . pls stop arguing with him. he will learn to research b4 commenting on Topics

What has being new on NL got to do with making sense with one's posts?

Come, let me school you.

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topfally75:
u must be sick.. I guess u re not a civil servant. And if u dont know how things work in civil service, pls dont comment on any related matter.

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ascaris:
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Workers earned their month end salaries from 15th of every month my ignorant friend! Please don't try to defend politicians. You have played your part by voting them into positions.

According to which law please my learned friend?

TonyeBarcanista:
Earlier today(Tuesday) President Muhammadu Buhari presented the 2016 budget before the joint session of the National Assembly. The budget he tagged "Budget of Change". While commending President Buhari for personally presenting the budget, it is important to ask the kind of change that the budget reflect.

What Is The Rationale Behind $38 Oil Benchmark?
In the budget, the government pegged oil benchmark at $38 per barrel. The problem here is that since the beginning of the second half of 2014, crude oil price has been on a free fall. In December 2014, it stood at $61 per barrel. As at today, the price of crude oil has dropped to $36 per barrel. Note that the price of crude as at june 2014 was $117 per barrel. With Iran poised to resume supply in 2016, Russia and USA entering the market, it means that the price of the product may go lower in 2016. What then is the rationale behind pegging the price of crude at $38 per barrel for 2016 budget? How will Nigeria meet up with its attendant deficit in revenue?

The rationale for $38 bench mark is in the expectation that oil price will pick up. As I type now, it is $36.48 up from $35 two days back. OPEC expects that crude price will pick before 2nd half of 2016 as a result of US finding it more expensive to produce from shale. Anyway, we wait to see how things unfold but $38 is not too bad for bench mark.

2. According to the 2016 Budget, Nigeria's projected revenue for 2016 is N3.86 trillion and deficit of N2.22 trillion with oil benchmark at $38 dollar per barrel. The government dedicated N1.8 trillion ie 30% set aside for capital expenditure, and projected to incur loan of N1.84 trillion.

The above means that the government plan to incur loan to finance capital project and use the leftover for recurrent expenditure. Which country in the world can survive on such arrangement? Considering that oil price is sinking deeper, it means even the projected revenue may not be met and government could be forced to take more loans to meet up the deficit. Where is the wisdom here?

Will you have preferred the old arrangement of borrowing to finance recurrent expenditure?

More Debt?
As at June 30, 2015 the former permanent secretary of the finance ministry put the debt owed by the FG alone at N8.396 trillion and $7.74 (N1.4trillion) for local and external debt respectively. With the government proposing to borrow another N1.84trillion to finance 2016 budget, this will mean more money to finance these huge debts. Considering that we will likely borrow more due to oil decline, I don't think there is any wisdom in this. Are we going back to pre-1999?

There is a lot of wisdom in borrowing to finance capital projects. There is no huge debt anywhere because there is already a provision of N1.36tn to service our debts in addition to N113bn for retiring maturing loan.
Read this and see if it does not make sense.

"The deficit, which is equivalent to 2.16% of Nigeria’s GDP, will take our overall debt profile to 14% of our GDP. This remains well within acceptable fiscal limits. Our deficit will be financed by a combination of domestic borrowing of N984 billion, and foreign borrowing of N900 billion totaling N1.84 trillion. Over the medium term, we expect to increase revenues and reduce overheads, to bring the fiscal deficit down to 1.3% of GDP by 2018."

Will Government Ever Learn?
When the last administration presented the 2015 budget, they pegged crude oil price at $65 per barrel. As at time of presenting the budget, the crude oil price stood at $61 per barrel. The effect was what we witnessed in 2015 where the government had to resort to borrowing because they couldn't meet revenue expectation. President Buhari is now following the same route. Pegging crude oil price at $38 per barrel when the price at present is lower. That means there will be increased borrowing should the crude oil price fail to rise at the benchmark.

I believe Nigeria should learn from Greece and not go down same lane. Already, we have serious problem of depleting customers for our major export(oil) and also we face challenge of competing with more entrants(USA, Russia and Iran) in the market. Government budget should reflect on the reality and not hinged on political correctness. Honestly, I see no positive change in this budget, all I see is burden on Nigerians.



May God Bless Nigeria

All budgets are largely based on assumptions. We have had budgets with lower oil bench mark which resulted in us earning excess from crude. Where is that excess earnings now?

With our debt projected to be 14% of our GDP, even if the crude price drops to around $25 per barrel (very unlikely), it won't take our debt burden to even 20% of our GDP.

The very good thing about this year budget is the fact that oil related revenue represents only 13.6% of it. It makes you wonder how much past governments have failed to block wastages emanating from looting/stealing and corruption.

The president is very well on the right track. He needs our support to deliver the good intention/budget.

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studio14:
from your use of foul language showed you r immature, I don't depend of government salary becauseit cannot pay my house rent, lying I detests it. I can double what you earn for you, your liars in government said they will pay from Monday I knew they were lying. I cannot go on with you because of your use of foul language

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You must think you're the richest Niralander. Dolt, you started with foul words and I don't go easy with mumu like you.

laytoshtwo:
What is this one saying?Lagos state has paid since 14th of december

It's a previledge the state workers enjoyed. Not a right.

Hope you get my message now.

ubah84:
rubbish.dis govt will never stop lieing tomorrow is public holiday and you're giving order today when are they going to pay

Who declares tomorrow as holiday?

studio14:
I can feed you and your entire family, I hate deceit. Todayis 23 i am entitled to my salary 15th of each month, don't support people who bent on lie and deceit.

Mu.mu, how are you sure I cannot pay your monthly salary from mine? Internet billionnaire that is crying for a month's salary on the 23rd!
You brag that you can feed me and my entire family, yet you wail over a salary you've not earned.

buchilino:
I DON'T AGREE WITH U. EVEN IN DEVELOPED ECONOMIES, GOVT IN D SPIRIT OF D FESTIVE PERIOD TRY 2 SHOW SOME SENSITIVITY

I have not disputed that. I have only stated the fact that showing good spirit doesn't make it "earned" or "right" as some are making it look.

Austerity period is the time to know which governor has got brain.

Let them put on their thinking cap if they've got any instead of looking for easy way out of challenging situations.

chuksbogus2001:
you must be an applicant, sacked fellow or a barrow pusher. when you don't know and don't know that you don't know then your doom is near. see what sentiment have turned you into.
You are entitled to your salary so far you have worked for 15 days in a month OK? so as from 16th your employer is owing you. so be educated

If I tell you I earn millions monthly, you will not believe. So, let me accept I'm a barrow pusher. It doesn't make me one.

Nincompoop, tell us which law states you're entitled to your salary after 15th of every month? Olodo, it is called "monthly salary" for a reason and it is normally not earned before the month ends. So, if you get paid before the month ends, it's a priviledge and not a right.

studio14:
you are a big liar, we were paid some years back 15th of each month, even if government decided to pay 1st of the month it is no way a favour okay, because the job will be carried out, what do you say about the contractors paid before they start work, so is it a favour? If you don't know what to say but defending the government without knowing you re hurting the feeling of a lot of people you better keep quite and close that your bookal bookal

That you were paid on 15th or even 10th at some point didn't make it your right at at those dates. You only enjoyed magnanimity of your employers then and perhaps things were very rosy for them. What do you mean by the bold? It makes no sense bacause we can as well argue that the employee should be paid his yearly wage in January since he will eventually do the work. It is not alled "monthly salary" for no reason.

Dolt, contracts are different kettle of fish. Contractors get mobilization fees as per contract agreement and get paid based on progress made as per letters of the contract. Do you live from hand to mouth that's making you want to kill yourself on top the matter?

HerexG:
Mental slavery, whether he pay at 1st or the 31st it doesn't by any way add to the value of the salary, it's still remains their due reward for working. Let's stop giving this politicians accolades for their responsibility.

If whether an employer pays on 15th, 31st or 1st is not an issue, which of course shouldn't be; why does it become one whence the FG or a state govt doesn't pay before 25th in December? I repeat, it's a priviledge that a worker gets paid before month end and not a right. As we speak, I got my salary two days back and I appreciate my employers for it. If they didn't pay by 31st, they wouldn't have erred. Simple as ABC.

ZUBY77:
You need to return to school.

OK. But your own certificates need to be revoked by the schools you attended.

HerexG:
Is this supposed to be a news or what ? Are they not supposed to pay their salaries, so paying workers their salary in this government now is a big deal

The salary for December is not earned by any worker until after 31st of December. So, quit being irrational.

If the salary is paid before 25th, it's a favour and not a right even though Nigerians have come to see it as the later.

APCLyingBastard:
Because you have no answers.

How will you fund a 7 trillion naira budget when your main earnings is down.

Ode. The budget is N6.08tn and how it will be funded is clearly stated in today's presentation. Revenue targeted is N3.8tn and deficit is about N2.2tn. Local borrowing is fixed at 980bn or so while foreign borrowing put at N900bn.
It's better for you to read the budget 10 times if it will make you understand it rather than embarrassing yourself up and down.

maasoap:
I love your observations, God bless you.

God bless you too.

Congrats Ibro.

There is ability in disability indeed.

I don't trust Saraki.

Spotless, stainless man. I'll like to see him in Igbo traditional atire during official function though.

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ican2020:
Reaping what you and your friends that lacks moral and respect for elders planted

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Guyman02:
The budget is still based on Niger Delta Oyel

Revenue from Niger Delta oyel is only 13.6% of the total budget.

Wake up and smell the coffee!

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ican2020:
Hangover from the comments you all heaped on the past administration.

Where the likes of Engineer (Dr.) Rabiu Musa Kwankwaso and others will call GEJ unprintable names.

What goes round comes round

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ebig21:
Truly budget of change, old senile man be decieving yourself

Do you have a father at home? Just curious ni.

We have demonstrated a strong will to fight corruption. I am sure you will agree that the sheer scale of corruption and impunity of the past explains in part, the economic challenges we now face. On these initiatives, and the many more to come, we shall not be deterred. We will pursue the recovery of everything that belongs to the people of Nigeria. No matter where it is hidden. No matter how long it will take

Statement as this always gladens my heart.

In 2016, oil related revenues are expected to contribute N820 billion. Non-oil revenues, comprising Company Income Tax (CIT), Value Added Tax (VAT), Customs and Excise duties, and Federation Account levies, will contribute N1.45 trillion. Finally, by enforcing strict compliance with the Fiscal Responsibility Act, 2007 and public expenditure reforms in all MDAs, we have projected up to N1.51 trillion from independent revenues.

There you have it folks! Revenues from oil is just a fraction (less than 14%) of our budget for 2016.
Those who always shout our oyel, our oyel, please understand that there is more to Nigeria, and indeed life, than oyel.

Let's support this government to deliver the goods for the benefit of all. I don tolk my own o.

How can an important occasion as this not be placed at the fp even without calling Lalasticlala Seun or Mynd44