PassingShot:


Unfortunately for you, my post that you quoted just informed you what he has failed to consider in his myopic analysis.

Fyi, I have challenged him to a debate before but he bailed.

A search of my threads and posts on the forum will tell you that I am over and above what you think.

The OP is only devastatingly pained at his loss at the polls and I am not ready to accord him recognition beyond what he deserves.

barcanista:
1. Osun State is in HUGE debt that BANKS are refusing to give them more loan.

2. Osun is owing wokers EIGHT MONTHS Salaries.

Is this what you want?

barcanista:
PLEASE TAKE TIME TO READ

This thread is in response to the Thread by Obiagelli's https://www.nairaland.com/2265908/buharis-social-program-very-possible. In her bid to defend the Social policy of Mr Buhari, Obiagelli insulted the intelligence of Nigerians with respect to what is accrued to the Federal Government in revenue per fiscal year. Let us start by putting things in order...

Nigeria's Revenue:
Nigeria's revenue is accrued through oil export, non oil export, oil tax and non oil tax. The Federal Inland Revenue Service is statutory responsible for the collection of both oil profit tax and non oil tax. The money for oil export goes directly to the Federation Account via the NNPC. The money generated via non oil export goes directly to the federation account through relevant Agencies.

Oil Revenue:
The total sum realised through Oil export(after operational cost) and oil profit tax is known as "Oil Revenue"

Non Oil Revenue
While the sum realised through export of other commodities(after operational cost) and the money realised from non oil profit tax is called "Non Oil Revenue".

What Did Nigeria Earn Between January 2014 and January 2015?
Nigeria Total Earning:
Jan 2014 - June 2014 = N5.109trn

June 2014 - Jan 2015= N3.676trn

Total: N8.785trn

Total Oil Revenue (Oil Export Earning + Oil taxes)
= 70% of Total Revenue ie N6.15trn

*Total Non Oil Revenue (Non Oil Export + Non oil taxes)
= 30% of N8.785trn ie N2.635 trn

Jan 2014- June 2014 = N1.08trn*
July 2014 - Jan 2015= N1.556trn [N2.635trn]

Understanding FIRS 2014 Report:
FIRS announced that the sum of N4.69trn was generated in 2014. The report indicated that N2.45 trillion, representing 52.96 per cent, was collected from petroleum profit tax while N2.24 trillion, representing 47.04 per cent, was collected from non-oil taxes during the period.
Analysis
This sum(N4.69trn) is not independent of the published N8.785trn that Nigeria was said to earn between Jan 2014 and January 2014. It is a part and parcel of the total revenue.

How Much Did FG Get In 2014?
There is a consolidated Sharing formula between FG, States, LGs and Oil Producin States(13%) after operational and other associated cost has been deducted.
FG Earnings In 2014
1st Qtr: N912 billion
2nd Qtr: N864.2 billion
3rd Qtr: N924.68 billon
4th Qtr: N617.186 billion
Total 2014= N3.318trn

2014 Budget: N4.6trn
FG Projected Earning for 2014= N3.73tr
Real Earning = N3.318trn
Deficit in 2014 Fiscal Year: N1.282trn

What this means is that the money accrued to the FG was not even enough to fund 2014 budget. We had a deficit of N1.282trn.
Also note that the fall in oil price affected our earning.

Looking At 2015 Budget:
The 2015 budget(as adjusted) stand at N4.3trn.
Projected Revenue For 2015= N3.603trn
Deficit: N1.297trn (N4.3trn - N3.603trn)

This means the 2015 budget will be run on deficit of N1.297trn (as confirmed by the Senate).

Looking At Buhari's Proposal
With Buhari's proposed N1.89tr Social program, it invariably means an additional N1.89trn will be added to the projected deficit of N1.29 trn ie N3.187trn if he is to go ahead with paying of N5000 to 25 million unemployed annually, from where will he be able to make up the HUGE deficit?.

Analysing The Argument of The Pro-Buharis
Some Pro-Buharis claim that the project will be done in phase of 5m people per year. However, the problem of "How to identify these 5m beneficiaries" and what will be the for selection?
Anyway, that is for another day. Let's go by their argument...
Unemployment benefit: 5m * N5000 = N300 billion.

*The N300b is for the payment benefit alone*. Add that to logistics, overhead and operational cost that the program will incur (approx 50% ie N150billion) annually.

Total: N300b + N150b = N450b

Feeding for 40m Public School Children = N373 billion.

Subtotal: N823 billion.

Where Will Buhari Source For the estimated N823 billion?

- Remove Subsidy? Total package for petrol and kerosene subsidies plus SURE-P fund = N166.5b. That is clearly not up to 30%.

- Invest All Capital Expenditure + Subsidy? This will be a very silly move though. But adding Capital Expenditure and Subsidy will total N866.9 billion. Just a little above the projected N823billion.
Going this route means there will be no project for road, no infrastructure and other capital projects. In fact, it is synonymous to eating the present away.

- Will He Borrow? Borrowing to fund Social Welfare program is synonymous to eating away the future. That means indebting our future and a panacea to economic collapse likened to what happened to Greece if not worse. It also means increasing our already projected deficit of N1.29 trillion

What is the fate of this Social program? Feasible, Laudable or Laughable?

PassingShot:
This guy will soon know how devastating the might of our military can be under the command of a very competent C-in-C, should he try any nonsense.

In his own fair world, we should have allowed Jonathan to continue to rule us unopposed or better still, not have any election despite his glaring incompetence to lead effectively and efficiently. Make we sha manage am anyhow e be

This stuupid man should tell us how it was possible for GEJ to ever become a president without the support of the North and SW that he's now castigating.

The oil you guys keep harping on belongs to Nigeria as a whole. The fact that it is found in your region is the reason you get lion share from the proceeds. Also, before oil, Nigeria was financed from the proceeds of other commodities found in the North and the SW. So save the crap and behave yourselves.

noskeybaba:
We have always known yourba people to be a coward. Unlike you, Igbos always stood for something. They don't shy away and have aways been known to have their own opinions. They are not intimidated, and have been know to fight for what they want even though the odds don't favour them. You can call it stupidity or anything you like but let it be known. They rather fight for what they believe than to hide their faces behind cowardice.

The meeting between the Chairman of the Independent National Electoral Commission, Attahiru Jega, and the nation’s resident electoral commissioners has ended in a deadlock, PREMIUM TIMES has learnt.

The deadlock follows the rejection of the proposal to shift the elections by 21 RECs who insisted that election must go on as planned.

However, the RECs have agreed to support the poll shift on two conditions. Firstly that Mr. Jega must extract commitment from the Presidency and security agencies that further extension will not be required after six weeks.

“RECs need a guarantee that there will not be further postponement after the six weeks they are demanding,” our source said.

He also said the second condition was that the commission should be allowed to decide how long the postponement should last.

“The feeling is that outside forces, especially the security agencies, should not be the ones to decide how long to shift the elections. That should be solely decided by INEC,” he said.
To this end, it was agreed that Mr. Jega should consult with the presidency and security agencies, after which another meeting will hold by 8pm.

“The Chairman will then brief the RECs on the outcome of his consultations,” our said.

INEC has all day been holding consultative meetings with political parties, civil society organisations and the RECs with a view to taking decision on whether to or not postpone the general elections scheduled for February 14 and 28.


http://www.premiumtimesng.com/news/top-news/176435-breaking-deadlock-inec-recs-give-jega-conditions-poll-shift.html

BackDatAssUp:


Mumu when did I call the ND a tribe?

Foolish illiterate taju

BackDatAssUp:


Your ignorance is out of proportion

Niger delta is not the same as oil producing states.

By the way is there any thing like one north?

BackDatAssUp:


You Yorubas are universally jealous and envious of other people.

You are lazy, dirty, quick to insult, diabolical, archaic in the name of tradition, cowards and most notably back stabbing people who account for the highest GDP of bastards and infidelity.

Now run along with that apt stereotype of you and your people.

BackDatAssUp:


You are destined fool.

http://lmgtfy.com/?q=History+and+evidence+of+born+to+rule+by+northerners+

BackDatAssUp:


Your ignorance can not validate your argument.

Because you don't know doesn't mean it is not a fact.

Facts do not exist for your convinience and just like truth, facts are either in plain sight or require deeper understand that can only arise from awareness to be apprecited and seen.

I can provide you with tons of historical and contemporary facts to allude to the born to rule mentality and ideology of the Islamic northern caliphate but I am not here to educate you. I can only show you the way.

www.google.com

saint047:

BackDatAssUp:


Who has a low self esteem that they are ready to be willing slaves for their Kalifar masters?

The north claim to have been born to rule only because you idi0ts with slave genes running through your viens choose to serve.

BackDatAssUp:


Absolutely well said.

They can go and worship their Ab0ki messiah in Alausa come 2015 when their parallel govt is in place.

Useless people that are so blinded with jealousy and hate.

The only reason they hate this administration is because they are so pained and jealous to see an Igbo and Niger Deltan in influential position.

Example; Stella Odua and Akpabio. Even though Akpabio is not a serving member f this current administration, the gains and strides he achieved in his state as governor is killing them with jealousy.
Check the Uyo thread and see these reptilians vent their jealousy.

Foolish people with no single moral fibre to at least mask their jealousy and envy.

onatisi:
ur dv lottery visa application process starts the very moment you apply to play,once ur dv application is in ur visa processing has started. Let me ask u a question ,if u submit a normal visa form which isn't dv to the us embassy in nigeria can you present another dob on ur passport on the interview day and claim u made a mistake when filling the online form?

adconline:

I posted 2 links to prove my point and they have argued without posting any link. New comers join the discussion to bail them out and when I hit them with the lingering question to show us their source.. They duck and deflect the question. It's not eating into my time. I'm watching my favorite show- Shark Tank while responding to their malarkey and tales by moonlight..

onatisi:
bros u get time ooooo. I even posted a link from the us dv lottery which states that it is not pssible to change dob after submission ,yet they cliam it is possible without providing any concrete evidence . I tire oooo. I am out of this thread.

20pounds:


All Laws are not found in the Constitution. The Constitution empowers some agencies and bodies to regulate situations they are concerned with. In this instance, NJC regulates the appointment of a CJ.

By 'opinion', I mean their position on the matter. English is not that difficult to understand. Please, don't miseducate people or misrepresent facts here. You seem to thrive on gossip and hearsay.

Find out the position of the law! I am done with you.

20pounds:


There is a subsisting Court Judgement to the effect that 'it is a matter of Practice for the most senior Judge of the High Court to replace a retiring Chief Judge." The NJC, also, is of the opinion.

Why is Amaechi insisting on desecrating the sanctity of the Judiciary? Dragging the Judiciary into politics will never augur well for our nascent democracy.

cyril10:

Reasonable post, people should stop turning a blind eye to the truth because of their blind support for Amaechi. Amaechi likes trouble a lot .

20pounds: Is it not the Police that enforce Laws and directves? Does the OP and his paymasters expect militants to enforce laws and directives?

If the Rivers state government refuses to obey order of court and the NJC, it behoves on the Police to restore sanity in the polity. Amaechi and his cohorts cannot hold the Rivers state Judiciary to ransom, while many cases are left unattended to. That would amount to gross injustice to those awaiting trial and others who are constrained by time limit.


Let us learn that no individual is bigger than the state. Justice Daisy Okocha represents an institution and her person or what she stands for ought not to count in this instance. Amaechi is too small to drag the sacred office of the Chief Judge into his 'cry-cry politics'.

Seun: Sir, I have sent you a mail since you don't want to send me a mail as requested.

SeaGold: Op, APC is not a political party but an Islamic Movement that operates on Jihad ideology. They are pressure group demanding for Islamic dogma to be enshrined in a secular Nigeria. As you can see, their agenda is not holding sway and they are gradually fizzling out.

The only two political parties in Nigeria is the PDP and OTHERS.

atlwireles:

The greatest joy for some of us Nigerians, is the realization, people like you will never see be in control of our democratic institutions at the federal level. Have a nice day and cheer up.