₦airaland Forum

[quote author=sukkot post=45482950][/quote]The brown roofs use to be silver many years back, reason Ibadan is called the "city of gold dust scattered amongst seven hills" in a popular work of poetry.The brown rooftops are not our shame put our pride. It is the root of all of us. It has been for years, constructed at a time your sorry village uses bamboo and palm leave. It is painful some of the mud and brown roof buildings are falling off. We cherish them.

Neyoor:
Let's suspend the celebration till 2mao jare. Sleep iyaf come and ba3 is down.
Thanks for the support all through.

Although I rep OAU, you were my best debater. kudos

Category1:
[size=13pt]largest slum in west Africa [/size]

That slum like picture is what I like the most of all. Ibadan is a blend of the old and the new showcasing her past, present, and future. No other state in Nigeria has a future as promising as Ibadan, not even Lagos. Watching as Buildings begin to go high in Dugbe with Mokola, Bodija, and others playing the supportive role. Ibadan us no doubt a good example of how a town it city should transcend. Growing naturally without a "pull" it "push" force. Ibadan, ilu Ogunmola, ilu Ajayi, Ibadan N'ile Oluyole. May God bless your soil and your sky. Ibadan, an abode for strangers and indigenes. If your head is correct, Ibadan is a place you will excel. I just get emotional about this beautiful city. Ibadan ooooooo... keep setting the pace.

whizqueen:
Spelling error is completely different from short hand/text message words! I can easily claim it was autocorrect or a mistake.

Thanks for calling my attention to it anyways. I've done the needful

Shorthand or text message words are used in the e-world and not the real world. So, he wasn't wrong. I could as well claim that you didn't know that "alumnae" is the plural of "alumna" which you meant to mention. Anyways, I think I like your spirit.

whizqueen:
Free the niqqa jare.

You don't reply people that types "your" as ur" or "please" as "pls" it shows their level of intelligence

Cheers bro *raises glass* You guys did great. I'm proud to be an alumnae

"an alumnae" I celebrate you. She who lives in a glass house shouldn't throw stone. Anyways, your guys did a great job.

Neyoor:
More emphasis is placed on ethnicity than merit. Infact, I took my time to read through the constitution and all they keep emphasizing on was that appointments should be based on the fact that it cut across every region and tribes. Perhaps, they could modify that policy in such a way that merit would be incorporated as well.

That means we can achieve equal representation of all ethnics and merit. So the Federal Character should be encouraged.

Neyoor:
Federal Character is the peculiar character or policy of a particular country, where vacancies are filled not on merit, but rather on the tribe, religion and geographical location of the people.

Do you mean merit is not considered at all or ethnicity is considered before merit?

adconline:
Sorry bro! I have small brain and I love to break figures down. Instead of 30% capital budget, why dont u tell a businessman on a budget that he's going to spend N100 in a month, N60 would come from his pocket while N40 would be borrowed. Then he would use N70 to pay for drinks, church/mosque dues, paying his office assistant and then would invest only N30 in buying his goods.. Meanwhile, borrowed N40 attracts an annual interest of 15%. He will be bankrupt in a month!

Lol bro! What you've got up there isn't small but great and is needed to make this country great. So, lets brainstorm together. Using a similar analogy, as a student you get allowance of #6000 monthly. Your total expenditure is budgeted to be #10000 therefore you have to borrow #4000 which you will be serviced monthly @15% interest rate. Your total recurrent expenditure I.e handout fee, feeding, typing and printing of assignments, monthly rent, transport fare, girlfriend expenses and so on total to #7000 while capital expenditure such as #laptop purchase is #3000. Note be taken that the lap top is capable of generating #800 monthly into your purse as you use it to do some business like graphics design, data analysis and so on. It can as well reduce your assignment cost by 50%, also help reduce your girlfriend's cost by 10% (her assignment). And when you are eventually done refunding the loan, you'll have the laptop which is your asset and the proceed from the business can be used to balance your budget, so won't need to borrow anymore. So, tell me which is for viable in not borrowing for capital expenditure and continue to manage poverty or borrow and have your needs met. Capital expenditure is a social investment which has a multiplier effect on the National Income of an economy.

adconline:
You just contradicted urself. Debt to GDP ratio is going up now since FG decided to absolve debt portfolio of states into FG's debt portfolio... Out debt stockpile is going while our GDP is contracting.. Recession is staring us in our face. Another discussion for another day
FG is borrowing for recurrent expenditure since you didn't know that.. Just the presidency increased its budget by N15bn when such huge amount could been used in providing permanent shelter to women and kids in IDP.
Ministries reduced from 40 to 19 yet cost of governance is higher than it was when we had 40 ministries-how come?

N30 out of every N100 will be spent on capital project when the government is borrowing about N45 out of every N100 to fund the budget. So where the borrowed N15 go-chop money for Politrickians.

You and me know that the debt is a spillover effect of the past administration's policy of 'let's focus on oil money' which got the most states busted when the oil price crashed. It was necessary as civil servants are crying hard (visit Osun state and see for yourself). I think it is an attempt to help the state be on the balance to start the change policy.
I admit that the GDP was very fine under GEJ, but hey! what's cool about the GDP when the people are 'screwed'. It doesn't reflect in the live of most Nigerians. Yeah! the debt-GDP rate may be increasing but hey! we are moving from worse to bad and from bad to good. Mind you, this is just the first budget which is for a financial year and not for the whole term.
The increase in governance despite the reduction in ministries may be an effect of inflation and exchange rate and I think the many planned trips of PMB is the reason why Presidency has higher figure budgeted compared to GEJ's tenure. And on a light note, #53billion squandered by GEJ in 2011 to celebrate our independence could have been used to construct the second Niger bridge.
And common, why analysing the economy with your #100, #45 illustration when you know it is more logical than that. You are an intellectual and should not think like that.
Lets be hopeful they implement their change policy and bring sanity back to the country, we shall hold them by their words come 2019. One love bro!

dgr8truth:
The balance that is now being sort for, that total about 2trillion naira, is it for capital expenditure? I'm confident You know the answer.

[quote author=dgr8truth post=45333023]I didn't mean the balance is meant for Capital Expenditure, what I meant was that the moping up of funds, opening of other revenue bases and fixing the various leakages through the fight against corruption cum "healthy" borrowing ensured that the budget overshoots the previous budgets despite the disadvantageous situation we find ourself. And from my calculation if am not wrong, 30% of #6.6trillion is about #1.98trillion which is almost the #2trillion balance.

adconline:
The answer is that the govt is borrowing about 40% of the total money.. The govt reduced rhr ministries by half and still increased the cost of running govt by 40%..
There is N500bn budgeted for special program to be spent at GMB's discretion.. There is no minster nor an administrator for this fund. Meanwhile ministries of works and housing, education all will allocation of about N400bn.. So actual ministries got smaller allocation than non-existing minstry

May be you should go check the debt profile of GEJ despite having a boom oil market. He allocated a huge amount for security in 2015 and yet still borrowed for the same reason. Well, we all know the story now. There is hardly no economy without debt but it should be healthy. Any borrowing for capital expenditure is a social investment which will have positive effect on the economy in the long run. But borrowing for recurrent expenditure is nothing but a debt which might turn bad. Track back PDP's debts and see why they were incurred.
As for the #500billion social relief fund, it is never ministry-less. It will be handled by various ministries which i know ministry of education is one of them.

dgr8truth:
Whether they reveal 39 priority projects or 1 priority project, the truth is that we are only spending less than 30% of our 2016 budget on infrastructure out of a total of about 6 trillion naira. This is not good enough, this is what was obtainable during the era of PGEJ hence nigerians voted for change we expected such to reflect in the budget but sadly it did not and ended up as the budget of yam.

Judging from the fact that the APC 2016 budget with is about #6.6trillion, 30% allocated to Capital expenditure in my candid view is laudable. The previous Administration which experienced boom in oil market had budget of #4.695trillion, #4.962trillion, and 4.358trillion in 2013, 2014, and 2015 respectively. Capital expenditure for years is #1.119trillion (20%), #1.59trillion (24%), and 387.15 billion respectively. The first question you should ask how come APC was able to increase the total budget to by about #2trillion despite the state of world oil market. It is a matter of time, Nigerians will know that true change is here.

Don't mind them.That is what happens when a country is being ruled and ruined by mediocres for 16 years. This is a new dawn, reason the budget is coming out this late. I don't care what they see. As for me, I see hope.

Soulmate05:
Wailer, wail no more, this is not a business as usual scenario.

This is what happens when a country is being ruled and ruined by mediocres for 16 years. This is a new dawn, reason the budget is coming out this late. I don't care what you see. As for me, I see hope.