₦airaland Forum

The House of Representatives has mandated the Cordinating Minister for the Economy and Minister of Finance, Mrs. Ngozi Okonjo-Iweala, to produce a detailed report on the exact amount of money Nigeria lost to import duty waivers between 2011 and 2013.

She was also directed to provide the full names of the beneficiaries; what the waivers were used to import; and the justification for granting such duty exemptions.

The directive was contained in the 50 questions on ‘state of the economy’, which the House Committee on Finance handed over to the minister during a session with the committee in Abuja on Thursday last week, after the 2014 budget was laid down by her in both chambers of the National Assembly.

The committee Chairman, Abdulmumin Jibrin, had exchanged hot words with the Finance minister, leading to the abrupt end of the session with the minister.



Source: ThisDay Newspaper

icon aus: Na lie - Igbos are 100% behind GEJ . We trust him more than the north/west who are power hungry and who have ruled this country since independence and had nothing to show for it rather corruption, tribalism and killing of igbos and destruction of their business and property out of malice and jealousy.

Am sorry for your generation

Can he provide 150 thousand megawatts of electricity.

o

inancial experts and civil society activists have condemned the huge allocations to recurrent expenditure in the 2014 budget presented to the National Assembly last week.
Some experts in Lagos describe the 72 per cent allocation to recurrent expenditure in the 2014 federal government budget proposal as lacking direction and incapable of addressing critical needs of the country.
The budget presented by the Minister of Finance, Dr Ngozi Okonjo-Iweala, on December 19, has total sum of N4.6 trillion.
A breakdown of the proposed budget showed that N3.7 trillion, representing 72 per cent, covers recurrent expenditure, while N1.1 trillion was earmarked for capital projects.
Okonjo-Iweala said that the budget would focus on job creation and inclusive growth.
Malam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd., said that the economy would not grow with less emphasis on capital expenditure.
Kurfi said the challenges of infrastructure would not be addressed with N1.1 trillion earmarked for capital projects.
He said that the nation needed capital expenditure for the economy to experience meaningful growth and development.
Kurfi also said that the oil benchmark of 77.7 dollars per barrel should have been 80 dollars per barrel in line with oil prices in the international market.
Mr Sehinde Adenagbe, the Managing Director, Standard Union Securities Ltd., expressed dissatisfaction with the late presentation of the budget.
Adenagbe called for quick passage of the budget which he regarded as the “road map for economic activities”.
He said that companies needed the budget for decision making on investments.
Mr Harrison Owoh, Managing Director of HJ Trust & Investment Ltd., said that the budget proposal failed to address critical sectors of the economy.
Owoh said that it was disheartening that the bulk of the nation’s budget would be used for wage payment instead of capital projects.
He said that the federal government should be bothered by the sufferings of the masses and ensure the provision of basic social amenities.
In a reaction to the budget highlights, Executive Director, Civil Society Legislative and Advocacy Centre (CISLAC) Auwal Musa Rafsanjani said from the outlook of the budget, there is no way allocating 27 percent to capital expenditure which is the special area where jobs and infrastructural development will happen.
“It is not a budget that will create jobs, it is not a budget that will alleviate poverty but a budget for sharing money and looting as usual. I cannot understand how sensitive areas like health, agriculture and water resources are not given top priority in the budget,” Rafsanjani told Daily Trust in an interview.
“It is clearly meant for looting; for some people to ‘legitimately’ steal these monies...Its is not a budget that will support the economy in any way.”
Also, the Association of Professional Bodies of Nigeria (APBN) expressed concern that the 2014 national budget was too much skewed to make meaningful impact on the lives of most Nigerians.
The president of the association, Mr Bala Ka’oje, said in an interview with the News Agency of Nigeria (NAN) in Lagos that only 7 per cent of the N14.6 trillion proposed in the budget was earmarked for capital development.
“APBN has checked and analysed the whole thing and have came out with a position on the 2014 budget.
“With a bench mark of 77.5 dollars per barrel and only 7 per cent of the budget for capital development, it means a whopping 73 per cent is for recurrent expenditure.
“Budgeting in this way does not give room for any meaningful development of the nation,” he said.
Ka’oje said that setting aside of N13.5 trillion for recurrent expenditure meant that only 2 per cent of the population would benefit from the budget.
He noted that the 2013 budget was also ``structured in that way’’.
He noted that continued structuring of the nation’s budget toward recurrent spending will impact negatively on the common man.
“The National Assembly should kindly look into this recurrent issue critically. It has become a recurrent decimal in Nigeria, whereby you have a very huge recurrent and nothing for capital, which is not a good, balanced budget,” he said.
He said that the common man would benefit the more from a balanced budget especially when driven by employment opportunities.
Ka’oje said more funds should be allocated to boost agriculture, housing and health care infrastructure to generate employment and empower Nigerians at the grassroots.
He advised the federal government to block areas of leakages in the system and ensure that revenues accruable into the Federation Account were captured.http://www.dailytrust.info/index.php/business/13114-experts-criticise-2014-budget

The mob attack on 24-year-old Nigerian occurred after he had a petty squabble over N13 (about Rs5) with a shoeshine vendor.
Lucky asked the cobbler, identified as Sheshrao Purbe, to polish his shoes.
Purbe narrated that he usually charged N26 (about Rs 10), but the Nigerian threw Rs 5 at him.
This led to an argument and Purbe was punched hard on his face. The fight between the two soon attracted a crowd and a mob surrounded the alien.
The angry mob started slapping and punching Lucky. He ran into the Vashi railway station and hid himself in a foodstall to save himself from being lynched. However, he had been spotted by someone, and the mob continued beating Lucky for about 15 minutes before the police rescued him.
The embattled Nigerian was sent to 2-week custody on Tuesday for assaulting the cobbler but the police failed to register any complaint against the mob of over 100 people who had attacked the Nigerian.
“Although it was wrong on part of the Nigerian to hit the cobbler, it was equally wrong on part of the mob to badly beat up the Nigerian and tear his clothes. Therefore, he too has the right to lodge a complaint against the mob, but Vashi police has not done so,” RTI activist and lawyer, Vinod Gangwal, commented.
It would be noted that the Times of India (TOI) photographer, K K Choudhary, was attacked by a few persons from the same mob which was hitting the Nigerian, as they were afraid that their illegal act would be caught on camera and published in the newspaper.
Meanwhile, the cobbler, Purbe, told TOI that the municipal hospital at Vashi have recommended an X-ray of his three front teeth which were affected after he was punched by the Nigerian.
Purbe’s medical report states that his front teeth are showing ‘Grade 1 mobility’ (slight loosening due to the fight).
It would be recalled that another act of discrimination against Nigerians in India took place about one and a half months ago, as Nigerian was beaten in Goa.
Source: National Telegraph

More customers are closing their accounts with Access Bank Plc following the example and call of an Abuja-based rights group angered by the bank’s insensitivity in sacking hundreds of workers only to use the money thus saved to host a foreign musician.

The campaign to boycott Access Bank over the issue was launched exactly a week ago by the Human Rights Writers’ Association of Nigeria (HURIWA), whose National Coordinator, Emmanuel Onwubiko, said last week Friday:

“Today we served Access Bank notice that we will on Monday severe all business relationship with them by closing down our accounts. As a struggling NGO we have very insignificant transactions with Access Bank but we appeal to good spirited Nigerians to pull out their savings because of the inhumane action of sacking 200 staff and at the same time coughing out N200 million to hire foreign musician recently.
http://www.nigerianbulletin.com/threads/access-bank-keeps-mum-as-more-customers-close-accounts-news-express.30808/#.Ur3IftIW1wp

[quote author=AKUNWATA1][/quote]And you think you statement is fair right

Aggrippa: very cold and at the same time the reality. but maàm am asuring you that this time that i am confident that justice will most likely be served! there is presently an onoing healing process taking place.

You better stop writing bullshit which kind of justice.You think the Lebanese man is still around.This is the function of the police not Fedeal government ,which kind of country is this for God sake.She should able to get justice in her country through police and the justice system

kendraloops: madam Alice, you can as well go recuperate n go on with ur life. I can bet u nothing will come out of this investigations. its all eye service.

I'm sorry abt the loss if your bby n esp d circumstances that led to it, sorry dear. God go do another 1.

She will used and dumped with compensation for her looted,or 10% deducted and the Lebanese returns to Nigeria and change the name of the company and continues again till we hear of another one

BoboYekini: Why should he? He's chief and HIS satisfaction is all that matters. They're probably all cllit-less anyway

Did you see the year ?I dont think so

[quote author=PAGAN 9JA]why dont you guyz join active service for once?

You keep complaining about the system.

yet..


YOU DONT WANT TO BE A PART OF THE SYSTEM.




how will the system change if you dont try to contribute on your part[/quote]You think i just type ,i have faced death in my country from the Nigerian police trying to cheat me.This is not new and it will not be the last.The police are corrupt and can connive with any foreigner to deal with any Nigerian, the justice system takes many years for justice to be done

[quote author=PAGAN 9JA]WHY DONT YOU TAKE JONATHANS PLACE? INSTEAD OF SITTING HERE AND COMMENTING LIKE A BOSS - DO THIS, SHOULDVE DONE THAT.[/quote]The system is not working,the police and justice system are problematic and riddled with corruption.

Nigerian police!

I have also seen a Lebanese slap a Nigerian police man in Abuja and he told the officer he will deal with him .The police man was scared of his connections.

This type of federal system is really something else ,a whole federal government is the one that will have to fight for 1 worker .when we have state government ,local government,police and other agencies of government .we can never develop like this at all.

He can never satisfy them .

It is funny

where the story dey i don land?

Bonny Chief and wives (1909)


source.The Nigerian Nostalgia 1960 -1980 Project

Eziachi: I thought you going to say, they have damaged the future génération of Nigerians. Let that be our spécial headache. Spend this time worrying about your own peoples future and let SE worry about theirs. Talk about taking médication for another man's dysentry.

I will be back tomorrow ,my boyfriend is back home.cheers

ikeyman00: ^^^ be serious with ur self; when will that happen

when? ehh

can u tell those one that believe its right to poke a 10 yrs old or walk away with pension fund freely

im afraid time is running out

we need to go back to the root cuz the black race is in serious dilemma as we speak

But just seat down and just reason and think for moment why is it that the African leaders work against their people,dont you think something is wrong and their is a lot we dont know until we get to power ourselves.Countries are in competition and they bring other countries down for their own benefits read the confessions of an economic hitman . p alimentary democracy or the systems in brazil,india can help Nigeria,India is 1.2b people,brazil is 200million people ,and they are doing well economically but still have poor people

ikeyman00: ^^ yes i used to go along with those of ur thought but i think i know better now!

for us to stand and take our place in the global world we need to go back to who we are until then we are going no where

i always want one nigeria to live but in a country one with 10% underscore get admission to the expense of merit; in a country one can easily walk away with pension fund of the old; in a country they build cars but nobody buys; in a country one section like to rule over others; in a country one get revenue from beer selling but then ban drinking in his state; in a country one believes it ok to s-hag 10 yrs old with holy buhahharia looking the other way; in a country the oduduwa with the aboki have ganged up to fight the igbo like they created the mess in the first place; in a county people hope ivory ooast will beat the eagles so the plotters and the haters could have their way

ete etc; i cant see this working cuz time is running out

Have you been reading the thread,what you are saying are very simple to solve if there is political will and a change in system.The originator of the crisis was Ironisi who started a unitary system and till today we still have a unitary federalism.If you create a system ,nobody will steal pension funds.People used made in Nigerian cars before in Nigeria ask,Admission issue is because of survival, university education in a country should not be the ultimate ,our country also needs vocational education and practical skills,but a system exist that makes the graduate look so superior.That is why we cannot construct our roads,we cant refine the Oil ,etc,shoes are imported ,cloths are imported etc

Channel bag!she should better plan for her health insurance.They should be tired of begging when they become sick

ikeyman00: @@@

one naira

One_Naira: 10:35pm


the bold in the quote is a fear in pretence they know it!

I think you don,t get it,breaking countries to smaller pieces weakens them,For Africa to be liberated from continuous colonialism you need a united Africa not breaking to pieces of exciting countries on the continent.we are meant to be talking about the bigger picture ,how we will liberate ourselves and create a super army ,industry ,education,technology etc .But you spend so much energy on tribe and religion till you die off and another generations do the same shit.

FreeGlobe: Have you ever heard of a thief being a progressive or fighting a fellow thief? who are the people destroying Nigeria if not Tinubu?

You want to get me into trouble but we can name names ,the people that destroyed Nigeria have been in politics since 1966 ,Tinubu became a senator during hope 93 and did not even finish is term and Abacha came and he went on exile and came back and contested the governorship election.Compare people that have stolen so much since 1966 with military power to assassinate anybody they want and continue to rule till date,.This people own Nigeria ,to dislodge them you need cash and cash,bullet for bullet,thuggery for thuggery and when you get power you could make changes.If you follow you line of thinking Gani faweyemi should have won the election when he contested.Its a fact of life,even good men dont get the best ladies.If you understand the system they are fighting you will understand the need.To become a Nigerian president you need a budget of 10Billion to successfully contest and win even more with inflation rate now.So you mean the money will come down from heaven.If you dont act or attack who will help you?

FreeGlobe: I hope you realize Alhaji Tinubu is not from SE?

Tinubu is a progressive politician and he was not the originator of the system and the cabals he met.He had an ambition to change the system by wrestling power ,wrestling power in the present system requires a lot of resources ,good will and thuggery.You think its easy to dislodge generals and politicians that have been in power and stealing cash used in controlling people.He has done his best and made a name for himself.What about you.Give it to him.To fight people destroying Nigeria,you need cash,to get the cash you create it some how.call him thief he has a plan which is better that some people just stealing and slaving for the white man.

Eziachi: And now you got a senate président for life. Lol

All your politicians are confused,greedy ,stealing people.Any they have damaged the future generation of the southeast.The population of female in school is more than the male . so we await when the women will take over public and government appointments in few years to come.I am still wondering how you will accept women ruling over you people,Because we have seen what you have done to most female nurses that earn more than you in the states.

Eziachi: Why South Sudan, why not Czech republic, Luthuania, Slovénia, Slovakia and many others? Just because your neighbour got into à nasty divorce, you therefore becomes a bachelor for life. Grow up.

You are in the Africa continent were a template as being designed for you ,dont even compare.

FreeGlobe: last I checked, there were no igbos in backward oshun, Ibadan, Ekiti, ogbomosho etc. until Nigeria breaks up, Lagos is no mans land

You better watch your words.Lagos is my forefathers ancestral land and we are caring and accommodating people.Mention a part of southeast where you have accommodated people from other parts of Nigeria.Greedy Humans

It always like the past administrations have done nothing