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Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 4:53pm On Jan 21, 2019

So the Nigeria government is the one saying that the federal government budget was 86% implemented? It would be more better if an independent source would actually tell out this!

Ibrahimanis:
There is nothing like "real actual budget" Budget is proposed, based on predictions. It's not real.

There is deficit sure but like I said earlier it's lower than Kenya's.

Anyway show me your budget implementation

2017 86%
https://www.vanguardngr.com/2018/10/2017-budget-achieved-86-performance-udoma/amp/

2018 67%
https://www.businessamlive.com/underperforming-revenue-sources-may-undermine-nigerias-budget-implementation/amp/

These are Nigeria's figures, show me that of Kenya. This is what we should have done since instead of comparing budgets. How many percent of the budget was implemented?

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 4:49pm On Jan 21, 2019

I thought budgets are proposed,then the 'real budget' is read out for implementation? We have sometimes cut down our budget by some billion shillings because maybe the proposals were a bit overboard,we tend to be realistic with our sh*t! The final budget read out is no doubt fully implemented.We seldom have transparency issues!

Ibrahimanis:
There is nothing like "real actual budget" Budget is proposed, based on predictions. It's not real.

There is deficit sure but like I said earlier it's lower than Kenya's.

Anyway show me your budget implementation

2017 86%
https://www.vanguardngr.com/2018/10/2017-budget-achieved-86-performance-udoma/amp/

2018 67%
https://www.businessamlive.com/underperforming-revenue-sources-may-undermine-nigerias-budget-implementation/amp/

These are Nigeria's figures, show me that of Kenya. This is what we should have done since instead of comparing budgets. How many percent of the budget was implemented?

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 4:47pm On Jan 21, 2019

We are long past that,I'm now on the other tiers.

And even this three tiers aren't fully independent as some of you actually put it! The FG revenues still go on to helping functions of this other governments who seem to be jokers when proposing their budgetary plans! grin

Danielnino00:
You people still don't get it...

Nigeria has three tiers of government and each tier has its own budget... The federal government budget in your opinion might be too small for a country like Nigeria, but have you tried calculating the state budgets too?

If the federal government budgets $1bn for health, it means the money will be spent largely on federal government owned health institutions.. The states have their own budget for health too to run their own institutions..

Come on... it's not that hard to decode

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 4:42pm On Jan 21, 2019

You mean assumptions made by your own officials? grin

darfay:
Why are you making assumptions about a country you read about on the internet?

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 4:40pm On Jan 21, 2019

Challenge it,don't just call it rubbish

darfay:
Where did you get this rubbish?

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 4:39pm On Jan 21, 2019

So if the states budget are grossly upped as said by your own officials citing the sources I have given you,what then is their real budget? I mean, a budget proposal of 60% higher than your own state IGR is just absurd.Even those(STATES) who made it 'below 40%' aren't going to click it,40% or below it is still much higher!

The FG itself has some issues when it comes to those assumptions it is making when tabling the budget proposal,oil which brings in lots of revenues won't be selling at 60 per barrel.People don't see that happening.The highest it can go up is 55! Many reckon that you'll grow at 2% or some points above that but not the 3% you reckon this year! We know the dollar won't easily come to 305 to the Naira as it's now at 362?

Ibrahimanis:
It does not matter if states increase their budget 500% it does not increase their allocation from FG, so your point saying states are increasing budgets to get more allocation is moot.

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 4:29pm On Jan 21, 2019

Kenya can now best do a budget of less than 35B (REAL ACTUAL BUDGET)

It would be foolish of us to project a 70b budget for 2019. It's unrealistic! Come up with realistic budgets otherwise you'll only be lying to yourselves that the budget is higher whilst it is not!

Ibrahimanis:
It does not matter if states increase their budget 500% it does not increase their allocation from FG, so your point saying states are increasing budgets to get more allocation is moot.

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 4:24pm On Jan 21, 2019

It's a boost if they really need it to actualize their budgets.Seems states are upping their budget proposals so as to draw additional funding from the FG!Where will the money come from? Someone asked! The FG itself has a deficit and States wants funds from it! grin

Ibrahimanis

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 4:23pm On Jan 21, 2019

Ibrahimanis:
FG does not give states "boost" as you say. The money given to states is their own money from natural resources which is under the control of federal Government.

Yes I know this which is why the picture I posted clearly stated IGR along Federal allocation.

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 4:15pm On Jan 21, 2019

Q: What are the revenue collection agencies of nigeria?

A: nigeria has many Revenue Collection Agencies, but the major ones are: FIRS, NCS, DPR, Others (NPA, NIMASSA, JAMB etc).#WhereIsTheBalance?

FIRS - Collects the following taxes on behalf of the Federal Republic of nigeria. - Company Income Tax (CIT)
- Petroleum Profit Tax (PPT)
- VAT
- Personal Income Tax
- WHT
- Education Tax
- Stamp Duties
- Capital Gains Tax
- NITDF Levy

Nigerian Customs Services
- Custom and Excise Duties.

Department of Petroleum Resources (via the NNPC)
- Royalties on Oil Producing fields
- Rent accruing from awarded concession
- Gas flaring penalties.

Others:
- NPA
- NIMASA
- JAMB
- Stolen Asset Recovery's
- Dividend
- etc

#WhereIsTheBalance?

Q: Where is the revenue collected by these agencies paid into?

A: They are paid into the Federation Account from where a committee known as FAAC meets monthly to divide it among the Federating units in accordance to the revenue sharing formula.
#WhereIsTheBalance?

Q: What is the sharing formula used by FAAC?

A: The sharing formula is
- FG: 52.68%
- States: 26.72%
- Local Govt: 20.60%
- There is an additional 13% derivation paid to oil producing states from oil proceeds based on the derivation principle.

#WhereIsTheBalance?

Q: Does it mean that all revenue are shared in accordance to that formula?

A: No. The VAT collected by FIRS and paid into the Federation Account is shared with a different formula.
- FG: 15%
- States: 50%
- LG: 35%
#WhereIsTheBalance?

Q: How much did d Federal Republic of nigeria earn in 2018?
A: We don’t have the full figures, but from public records, we can estimate
FIRS – N5.3 Trillion
NCS - N1.2 Trillion (Prorate from claim of N800B collected as at Aug)
DPR - N7 Trillion
Others - N500B
#WhereIsTheBalance?

Q: What is the estimated FG share of this amount?

A: First, let’s back out VAT. We know that out of VAT of N1 Trillion, the FG collects 15% which is = N150 Billion. 2ndly, we need to back out the 13% derivation from oil proceeds as well as other deductions.

Using the basic rule of the thumb, from an estimated revenue of N14Trillion, we can estimate that revenue available to the FG can't be higher than N6.5Trillion. Even this is generous just reflecting on 2018 budget performance figures.

Breakdown Of The 2019 FGN Budget ProposalThe Nigerian economy emerged from recession in Q2 2017, and the macroeconomic environment has stabilized and is recovering gradually. This has renewed confidence in the country’s growth prospects.

#WhereIsTheBalance?

Q: And the N9 Trillion Budget?
A: The N9 Trillion budget is the budget of d Federal Govt of nigeria and not the Federal Republic of nigeria. This means that the FG can only budget on its portion of federally collected revenue & not total collect-able revenue.

Since we estimate that the maximum revenue available to the FG would be N6.5 Trillion and the FG intends to spend N9 Trillion, what this means is that the FG will have to spend more than it earns and borrow the difference. This is what we call budget deficit.#WhereIsTheBalance?

Q: So where is the balance?

A: The balance is with your State Govt and Local Govt. Please engage them. Ask them questions. Challenge them to show you what they're doing with the amt of money they get from FAAC & also from igr (Internally generated revenue).
[quote author=darfay post=74976050][/quote]

1 Like

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 4:06pm On Jan 21, 2019

It's interesting learning that the IGR itself can't fund the states budget. Actually,the FG often comes in to give this states a boost.The states are in a competition to present higher budget proposals which are grossly unrealistic!

''Speaking at the conference of the Chartered Institute of Taxation of Nigeria (CITN) on Wednesday, Vice-President Yemi Osinbajo said most states cannot survive without federal allocation.''

“The budget of all states completely outstrips their projected total revenues. The gap between projected total revenue and budgets is small in some states such as Kano, Enugu, Delta and Bayelsa. In these states, projected revenue is at least 60% of the budgets,” the NEITI report read.

“However, in 18 states, projected revenue is less than 40% of budgets (Adamawa, Akwa Ibom, Anambra, Bauchi, Benue, Borno, Cross River, Ebonyi, Imo, Katsina, Kebbi, Kwara, Ogun, Osun, Oyo, Plateau, Sokoto and Zamfara).''

https://www.thecable.ng/neiti-states-revenue-inadequate-fund-2018-budget

It seems that even the 40 billion USD I was giving you was so much.On the ground,things are different,deep down you know this! Ibrahimanis

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 3:55pm On Jan 21, 2019

So this states also get some funding from the FG?

And how realiastic are their budgets?

This is worth a read!https://www.icirnigeria.org/data-n6trn-2018-budgets-for-20-states-where-will-the-money-come-from/

Ibrahimanis:
Let am go. I don tire for their matter I swear.

Total States' budget is almost the same size as Federal budget 2018

Then the local government's, let's say 500m naira each that's 500m x 774 = 3 trillion+ in naira.

But I can't come and go and kill myself

They can say what they want.

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 3:46pm On Jan 21, 2019

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 3:45pm On Jan 21, 2019

They simply cannot implement that budget because its non existent! grin

[quote author=darfay post=74976050][/quote]

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 3:44pm On Jan 21, 2019

What;s the total budget? Proposed 2019?

Ibrahimanis:
Yeah yeah yeah.
From its a shame that Nigeria's budget is about same size as Kenya's to it is a shame that Nigeria's budget is about 15 trillion (about 40billion plus).

As at now the total 2019 budget is 15.737trillion naira (FG + 33 states apart from local governments. Remaining three states to submit their budget to their respective state assembly.

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 3:09pm On Jan 21, 2019

Your proposed budgets turn out not to be the actual for the most of the time.

The 'assumptions' are just dreams!

Ibrahimanis:
yeah genius *proposed*
What is a budget before if not proposed?

If deficit is what you are talking about then look yourself in the mirror before calling someone ugly.

Kenya's deficit is higher than Nigeria's.

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 3:06pm On Jan 21, 2019

It's higher but we still cover it? It has reduced though this year which is good news.

Your total budget is nothing more than 15 trillion Naira(the proposed 2019 budget) which is actually a big shame considering your high GDP and population. You can prove me wrong,I'm always on the ready to learn!

Ibrahimanis:
yeah genius *proposed*
What is a budget before if not proposed?

If deficit is what you are talking about then look yourself in the mirror before calling someone ugly.

Kenya's deficit is higher than Nigeria's.

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 2:52pm On Jan 21, 2019

The 'assumptions' are dead on arrival

I can't see this happening grin

The 2019 budget has been prepared on the following assumptions:

$60 per barrel of oil....Really? grin

2.3 million barrels per day....You'd struggle here!
N305 to $1 exchange rate....It's not happening! grin

Real GDP growth of 3.01 per cent...2.5% should be a more realistic target! cheesy

Inflation rate of 9.98 per cent.....*facepalm*

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 2:44pm On Jan 21, 2019

*proposed

Your proposals are always higher than what you actually put on the ground!

Ibrahimanis:
Let am go. I don tire for their matter I swear.

Total States' budget is almost the same size as Federal budget 2018

Then the local government's, let's say 500m naira each that's 500m x 774 = 3 trillion+ in naira.

But I can't come and go and kill myself

They can say what they want.

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 2:41pm On Jan 21, 2019

Their military men look like the terrorists themselves.Who dresses them? grin

sufferNsmiling:
See nigerian soldiers running away from boko haram. They said they do not have appropriate weapons now please tell me does nigeria have a military

https://www.youtube.com/watch?v=Kvd3YgkcMW4&app=desktop

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 2:38pm On Jan 21, 2019

This are facts sourced from your budget proposal tabled in parliament!

https://www.reuters.com/article/nigeria-budget/update-1-nigerias-president-presents-8-83-trln-naira-budget-for-2019-idUSL8N1YO3TE

The 2019 budget has been prepared on the following assumptions:

$60 per barrel of oil
2.3 million barrels per day
N305 to $1 exchange rate
Real GDP growth of 3.01 per cent
Inflation rate of 9.98 per cent

On subsidy, Mr Buhari said it was abused in the past but his government has made NNPC the sole importer and now, the under recovery is from NNPC account while false claim by marketers is removed.

A total of N8.83 trillion is proposed as 2019 budget – Buhari

The breakdown:

Recurrent – N4.04 trillion
Debt service – N2.14 trillion
Statutory transfer – N492.36 billion
Sinking fund – N120 billion
Capital expenditure – N2.031 trillion

https://www.premiumtimesng.com/news/headlines/301857-buhari-presents-2019-budget-to-national-assembly-live-update.html

darfay:
I like how you look stupid even without trying
The budget you posted is only for federal government(states and local government would have everything in its budget from education to health etc)
Who told we can't generate a revenue of #7trillion about $20b
Firs the body in charge of federal taxes generated #5.3 last year which is projected to increase #8trillion this year which almost this size of this years budget.

https://www.premiumtimesng.com/news/headlines/304675-firs-generates-n5-3-trillion-in-2018-highest-in-nigerias-history-official.html
Note Nigeria generated federal taxes of 5.2trillion in 2012(which was about $33.3billion)

Customs generated #1.3 trillion which is expected to increase to #1.5 this year(revenue from customs and taxes alone surpasses the budget estimates)

https://leadership.ng/2018/11/20/customs-to-surpass-n1-3trn-revenue-target/

Operating surplus of government agencies
https://leadership.ng/2018/11/20/customs-to-surpass-n1-3trn-revenue-target/

On a realistic projected income from oil
$50 a barrel @ 2million a day for 365days
=$36.5billion
13% derivation for Niger delta =$4.745billion
56%(31.755)=$17.78 for federal government

The above mentioned are more than enough for the federal government to run a surplus this year

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 2:31pm On Jan 21, 2019

This Nigerian soldiers are poorly paid no doubt!

sufferNsmiling:
See video of nigerian soldiers fighting themselves for food and water

https://www.youtube.com/watch?v=6f5aubn3j5Y&app=desktop

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 11:10am On Jan 21, 2019

https://af.reuters.com/article/investingNews/idAFKCN1PF0PM-OZABS?feedType=RSS&feedName=investingNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FAFRICAbusinessNews+%28News+%2F+AFRICA+%2F+Business+News%29&&rpc=401

Moses Kuria, a ruling party MP, said his amendment to banking laws would keep the cap at 4 points above the policy rate for “low-risk clients”, but introduce “a risk negotiation window” of up to 6 points for individuals and small and medium-size companies perceived as risky.

A good move?

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 9:46am On Jan 21, 2019

Fighting terrorists is best when boots are on the ground or when you are using drones or the little birds.(MD530's)

MD530's works best against terrorists as they give you good precision when shooting,they are light and easy to manoeuvre,they are heat tolerant(can work well in hotter environments) and are cheap to operate and maintain. How is Nigeria going to use Sukhoi jets and MI 35s to fight Boko Haram internally? I bet they won't even sustain fueling this two for an hour everyday never mind of repairing and servicing them. Don't go for the hype,buy what you really need!

rvp2018:
This could actually work against BK. Okadas can be use to fight and flee.

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 7:44am On Jan 21, 2019

Nigeria can best do a revenue target of 13-14 B USD,how can they then estimate to collect 19.4B USD. Their estimates are so stretched and not realistic!

Our estimates were 18B and KRA are almost matching that.We utmost fall short of less than a billion dollars when coming up with our revenue estimates.We will certainly collect 17.5 B!

rvp2018:
The more you examine the giant the more you realize how cheated they are.

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 7:14am On Jan 21, 2019

A ROBOT was used,THAT WAS THE POINT!

Kazikazi:
So you stole this pic in google and claim it as yours?

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 7:07am On Jan 21, 2019

*ESTIMATES*

Total budget 28B USD

Recurrent expenditure

The 2019 Nigeria's budget proposal.

Here is a look at Nigeria's recurrent expenditure in a country projected to hit 200m as of 2019!

A substantial part of the recurrent cost proposal for 2019 is for the payment of salaries and overheads in Ministries providing critical public services such as

a. N569.07 billion for the Ministry of Interior;(1.5B USD)....They are kidding much! grin

b. N435.62 billion for the Ministry of Defence;(1.2B USD)....Their superior military! wink

c. N462.24 billion for the Ministry of Education; (1.28B USD)....No words shocked

d. N315.62 billion for the Ministry of Health. (875M USD)

What a joke! grin

Key macroeconomic figures

Revenue – Where government is making money

Nigeria is estimating a total revenue at N6.97 trillion(19.4B USD when the estimate is rounded off to 7 trillion Naira) - (which is 3% lower than the 2018 estimate of N7.17 trillion), consisting of oil revenue projected at N3.73 trillion(10.3B USD) while non-oil revenue is estimated at N1.39 trillion(3.8B USD).Non oil revenues 3.8B

Projected revenue from taxes

Companies Income Tax (CIT) - N799.52 billion (2.2B USD) This comes from their companis which are 4-6 times bigger than Kenya's

Value Added Tax (VAT) - N229.34 billion (636m USD)

Customs Duties - N302.55 billion. (838M USD)

Independent Revenues to N624.58 billion. (1.7B usd)

Other revenues expected in 2019 include various recoveries of N203.38 billion(563M USD), N710 billion(11.9B USD) as proceeds from the restructuring of government’s equity in Joint Ventures and other sundry incomes of N104.11 billion(288m USD)

By implication, this shows Africa's largest economy with crude oil as its cash cow will still do below average on its diversification policies as oil

takes center stage in government revenue.

All this are estimates which are greatly hinged on oil income,gdp growth of more than three percent(they will certainly do a best of 2% as of 2019 grin

),an exchange rate of 305 to the dollar and an inflation of 9.98%

Here is the breakdown of all that!

The 2019 budget is placed on the following assumptions (I love the word assumptions! grin

)

a. Oil price benchmark of $60 per barrel; (Will this be the case? )

b. Oil production estimate of 2.3 million barrels per day, including condensates;

c. An exchange rate of N305/$;

d. Real GDP growth of 3.01%; and

e. Inflation Rate of 9.98%.

I'm not so impressed! With a 350 billion GDP Nigeria's budget should be kicking as** grin

2 Likes

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 6:17am On Jan 21, 2019

*from Africa

Guess that's okay then?

Goel:
I guess the better Title could be most influential countries "from" Africa because "in" Africa, foreign powers might be more influential than native countries due to their military & economic corporation programs.

1 Like

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 7:01pm On Jan 20, 2019

Meanwhile,
Here are the top ten most influential countries in Africa grin

http://www.rexcharlesblog.com/2018/10/top-10-most-influential-nations-in.html?m=1

1 Like

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 6:57pm On Jan 20, 2019

What about it ? grin

No sane Kenyan will want us to be merged with Tanzania.

Nowenuse:
The question was asked on Quora, which country would you like your country to be merged with and this was the reply from a Kenyan.

Kazikazi, so Kenyans really love and wish to be one with Tanzania, but the likes of TayserMahiri, gallivant, mtisTheQubit00, NairobiWalker, rvp20183 keep saying rubbish about TZ just to save face.

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 9:43pm On Jan 18, 2019

And more

Foreign Affairs › Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Jonraid(m): 9:42pm On Jan 18, 2019

And still more

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