₦airaland Forum

What he should have done was presented a budget of ~110, then also mention that he was looking to take a loan.

Also, this N50 billion which he intends to borrow. . . . if he is borrowing so much then imo 90% of what he borrows must be spent on infrastructure. He has better not be mixing it into recurrent.

Should be something like 50%/50% on the 110, then most of the money borrowed should be spent on infrastructure.

So shouldn't really be spending more than ideally N65 billion on recurrent, as opposed to the current N88 billion he wants to actually spend. . . . .

So will he be borrowing every year for the next decade or so?

Or is this N160 billion budget just a one-time thing, and future budgets will be based on actual revenue generation? I.e., closer to N110 billion?

It doesn't have to be larger than recurrent.

There is no law saying it must be X.

The point is that, the less you spend on recurrent, the better off you'll be in the future.

The % represents a tradeoff between future benefit and present enjoyment, basically.

When I see a state like Akwa Ibom with 80%+ spent on capital expenditure, I know that it'll become a juggernaut in the future.

I want SW states to also be at least 50% capital, and preferably closer to 60%.

Gbawe, see my response in the other thread.

In a nutshell, mouth alone will not allow you to fix a deficit nearly 1/3rd of your proposed budget.

aribisala0:
i really do not accept the dichotomous reasoning that somehow spending more on capital expenditure is always or even generally better than more on recurrent expenditure. This assumption is implicit in the conclusion of the poster that this swing in weighting from last year is a good thing  or desirable one.

Well if you don't spend money on capital expenditure, then your infrastructure falls apart, your state becomes much less attractive for people to invest and start businesses in, unemployment will rise, etc, etc.

And there is no entity in the state (aside from the FG) who is going to invest in public infrastructure (at least at sufficiently high levels), for somewhat obvious reasons.

The IGR probably hasn't been as low as N1 billion in half a decade not to talk of that N150 million you believed it to be a short time ago. . . if you chose to use clearly erroneous and nonsensical #s, that is your problem, not theirs.


Gbawe, accountant or not, magician or not, a N50 billion deficit is a tall order to make up.

South Africa
Fat is bad but beautiful
South Africans need to become healthier
Dec 17th 2011 | JOHANNESBURG | from the print edition
Young Zuma, too big to testify
MORNING classes had just begun in Pellsrus primary school in the Eastern Cape province when a nine-year-old pupil dropped dead from a heart attack in front of his classmates. He weighed around 115kg (a little over 250lb). His little heart could not cope any more.

Last month President Jacob Zuma’s larger-than-life nephew, Khulubuse Zuma, a mining magnate not yet 40, said he could not testify at an insolvency hearing into one of his gold mines because he was too ill with a heart disease owing to his weight and lavish lifestyle.

It is no longer just the inhabitants of the rich world whose waistlines are spreading dangerously. Though 40% of its 50m people live off less than $2 a day, South Africa has become one of the world’s fattest countries. Six out of ten South Africans are now clinically overweight or obese, according to a recent survey by GlaxoSmithKline (GSK), a pharmaceutical company. So, apparently, are a quarter of teenagers and one in six children under nine. Another study, by London’s Imperial College, found as many as three-quarters of South African women to be overweight, up from 57% in 1980; it classified 43% as obese, up from 24% in 1980. Men are only a shade trimmer, with 62% reckoned overweight.

As in the richer world, South Africa’s accumulating kilos are the result of rapid urbanisation, less physically demanding work, the spread of television, and a shift in diet from home-cooking to processed foods rich in fats and sugar. The country’s fast-food industry is booming. But whereas most Westerners seek to be thin, many black Africans still admire bulk in men and big contours in women. President Zuma’s four wives are all chubby.

Seven out of ten South Africans in the GSK survey said they had never been on a diet. Half admitted they never took exercise, despite South Africa’s reputation as a sporty outdoors nation. One in eight suffers from diabetes. With private and public health care costing 9% of GDP, much more than in most poor countries, the government is starting to take fatness seriously, with campaigns to encourage healthier eating and to make sport compulsory in schools from January. An adviser to the health minister wants a “fat tax” on sweets and booze.

http://www.economist.com/node/21541845

Good move

While stating that his government would soon request for legislative muscle from the Assembly on taxation and other sundry regulatory issues which were due for review, he also stressed the need to raise bond from the capital market, public-private sector participation (PPP) and other financing options to cover the financing of the N50.16 billion deficit.

That is a pretty big hole to make up. . . .

N5 up to N20 billion is reasonable. N50 billion is nearly 1/3rd of the proposed budget.

Nice.

Yeah the Oyo budget seemed pretty vague to me too. Projecting 110 billion in revenue or so, but wanting to spend 160


Regarding this:

Review of 2011 Budget
In his review of the budget for the outgoing year, the governor explained that the approved budget size for 2011 was N124.61 billion. Of that amount, N41.88 billion was earmarked for salaries and allowances (33.61 per cent), N15.10 billion for Overhead Costs (12.12 per cent) and N21.83 billion for Consolidated Revenue Fund/Public Debt Charges (17.52 per cent) whilst N45.80 billion was allocated to Capital Expenditure[b] (36.75 per cent)[/b].

OGD had no clue what he was doing, it appears All of that lofty talk of Ogun having a higher GDP than Ghana (or whatever else I've heard him say before) doesn't sound very realistic if you are spending money irresponsibly like he did.

Nice thread.

I paid a bribe to get an expired passport renewed quickly.

"I know what you want. You want a story that won't surprise you. That will confirm what you already know. That won't make you see higher or further or differently. You want a flat story. An immobile story."

win.

The only thing a statement like this does is to make Lagarde look ridiculous.

Reading through the tutorial seems heavily rubyish, lol. I'll have to look at this more.

I've heard about it before, never looked into it closely before this. Seems kind of cool. Thanks for posting.

Preseason already under way, regular season starts Christmas day.

Leggo!

What did the number look like in previous years?

Eko Ile:
This is the compass for crying out loud,


Btw, sit back and enjoy the comedy while these ibo clowns kill themselves over that rubbish

OK, I didn't even realize it was Compass. I was skimming quickly and was thinking it was Vanguard.

But whoever it is, we have to ask some basic questions.

How the fvck did this guy take Fashola/Tinubu's estimate over 30 years (N250 billion) then blow it up to first to double the amount, then N6 trillion?

He is just a random dude. It isn't like they interviewed an insider, or had some whistleblower leak information. That would be interesting and useful.

This is just propaganda. Sloppy cheap propaganda even, not even artful or masterful.

For their next article on this topic, "Villager in Zimbabwe claims Lekki toll will be N10 trillion $10 trillion over 30 years."

I don't recall asking you to rate the "try." Or anything else, for that matter.

So a supposedly reputable newspaper takes the analysis of some random guy in the street (Screwy analysis mind you. As if whoever made the initial 253 billion estimate somehow forgot to count all total trips and only did one way) and presents that as fact, no questions asked.

Is this real life, or a parody?

"Barack Obama is smashing Kim Kardashian" - Random man in the street, front page of the NY Times

If you click the link in the OP, you'll see that there are two products named "HipHop." This older one, and something newer (a JIT compiler.)

Lmao. I've always thought my grammar was decent, but not particularly impressive. Thanks for the (unintended) compliment.

Regarding the rest. . . like I said earlier, not everyone is able to recognize talent and ability. Clearly you are incapable of doing so.

May as well expect a blind man to describe a sunset.

obowunmi:
You're better off with a Harvard law degree if you are planning to work back in Nigeria.

Why do you say this? Anyway as the poster above said, not sure how that is useful.

How difficult was it write an extension in C++? And how much did it improve your performance by?

Hrm. Despite being an alien, holding a man for a decade w/o any trial seems very wrong.

They should pay him his damages and then deport him.

I'm surprised the Niger Republic didn't try to help him out.

Reading through threads like this, I wonder if you all view yourselves as one people.

I can understand if it was just joking/screwing around. But I detect a truly venomous, hateful undertone (Heck, isn't even an undertone. It is out in the open.)

I can't imagine doing/saying the same things to anyone I supposedly call my brother, kinsman, coethnic, etc.

Haha I know a whole rack of Mbaise indigenes in RL. I'm guessing that it is a very populous or prominent part of Imo.

He is right.

Interesting. I'll need to look through this more later. Btw can you upload your spreadsheet summarizing the results? Google doc it or something.