₦airaland Forum

Recession or not, the truth is that APC government lacks the ideas on how to generate revenue. Their option of making money is either borrowing or tax the poor citizens. They borrow money for themselves,
not for the nation. They don't even think of cutting down cost of governance. Imagine #5tr to service debt? Do you know how many industries that will establish. That would have completed a refinery.

Election is here again. If we like, let's sell our votes for 10k, and prepare to tie our stomachs. Hardship doesn't discriminate.

Whoever knows Obi should tell him these,more than 60% of our voting population is in the rural areas and are illiterates,but their is a subtle way to Reach them.RADIO STATION.

Yes,he should use native language on F.M and A.M radio stations(night 5-10 p.m for southern Nigeria)(he should check for Muslim praying times in the North) will do the rural magic in Native languages.
Do these and see how the tide of 2023 will go in his favor.

₦19.76 Trillion budget and less than 500billion (less than half a trillion) was what they gave education.

Where is the rest going to? The cost of governance and Ghost projects need to be reduced.

What is the meaning of sinking fund?
To me, It looks like money animals like snake, monkey etc will swallow next year

This must be an old draft version of the 2023 budget, not the one presented by PMB. Total budget was more than N20trn and debt servicing was about N6trn

Almost the amount of Last year's budget is next year's deficit. That need to be borrowed chai..

God abeg, which kind country is this?

How much of this budget will be funded by debts? And how much of the borrowed money will end up in personal pockets?

Update. That didn't take long. He wants to borrow almost 9 trillion naira

https://guardian.ng/news/buhari-plans-borrowing-n8-80tn-to-fund-2023-budget/

Allah will bless us with the best persons among us as president and god-fearing leaders come 2023 to get it right for we the masses and liberating our country from the external and internal Cabals.

PMB you tried your best but not enough at all.

Bye with your last budget presentation Sir.

[quote author=politicoNG post=117378211][/quote]Nigeria is the only country I know that would be deep in debt and yet increasing budget every year.

Another cash for stealing and embezzling by greedy politicians and their children. ZOO

Damn,Nigeria is broke

Less than 2% of Germany’s national budget
Even other African countries spend way more on themselves
Nigeria needs to enact birth control laws because at this rate of population boom and the country’s budget I don’t see things getting better

Abilistic:


Debt servicing - N5.35tr

Capital expenditure - N5.35tr

So their only plan before the expiration of this miserable administration is to borrow more money and loot all without doing anything.

Hard days ahead

and they will still borrow another N10tr to finance this budget, this is like collecting grooming to pay LAPO....
naija na cruise, Hard days ahead indeed, i really pity those that will not be out of Nigeria in the next 5 to 10 yrs and beyond, this doesnt look good at all. You are going to service debt with 25% of your budget and you will still need to borrow almost 50% of the current budget and they are not making moves to increase revenue
- 40% of dat recurrent isnt neecessary(goes to excessive&needless spending by d presidency & national assembly) that can save us N3tr
- the generated revenue of N11tr is because the governement is not efficient in managing our resources and stealing/wastage of resources by government income generating agencies (NNPC, NIMASA, CUSTOMS, stolen crude oil, even the ones not generating income are wasting funds on unecessary things) . To be conservative, efficient management should give us additional N4tr
-lets not even talk of the N5.3tr on capital expenditure, the nation will get value for just N3tr, as contracts are inflated and padded so kickbacks can be given to head of supervising agencies... N2tr lost in value

AT this level of productivity we have no business borrowing more than 2 to 3trillion. The problem is that the presidency will not cut cost and lead by example....and do what is needed

How much is bubu travelling budget? I bet it around 15trillion

adisabarber:
Another dark year ahead. Debt servicing will gulp same amount as capital expenditure

Really unfortunate... The Debt Servicing is too high.

RingRoadMafia:
70% of it will be borrowed.

This government has no idea how to generate funds, that's why we're where we are today. Buhari is bereft of ideas to make money; he has depleted the little Jonathan saved, he has borrowed to stupor, taxed Nigerians to stupor, hiked electricity bill to stupor, claimed monies in accounts of suspected deceased people instead of giving it their next of kin, charged Nigerians to pay "stamp duty", now he's mulling removing subsidy. All this whilst still maintaining the mammoth cost of running his government, maintaining their JUMBO salaries and emoluments, even their life-long pension and retirement benefits! All Buhari knows how to do is dump the cost of government on the common man. People are suffering terribly, but Buhari doesn't care. We will fuel his jet, and he will fly abroad to treat himself with our sweat and tears. If that isn't gross incompetence, then I don't know what is! We can't afford to have Buhari Pro-Max in office for another 8 years!!!

VOTE WISELY!!

So If they ordered the soldiers To go kill their family, Dem go obey the order abi .. make Dem dey deceive themselves.

I watched Arise and channels about this budget 2023 and all analyst could predict was DOOM days are upon us and Nigerians should prepare for hard days.

Flooding means food scarcity
Displaced people
Ban on Okada high crime rate, most churches have been robbed in the area I stay, yesterday they robbed a few friends and the police station is just few meters away from the robbery incident and they reported they said no fuel and we should grease their palm.

tunapawizzy:
and they will still borrow another N10tr to finance this budget, this is like collecting grooming to pay LAPO....naija na cruise, Hard days ahead indeed, i really pity that will not be out of Nigeria in the next 5 to 10 yrs and beyond, this doesnt look good at all.
You are going to service debt with 25% of your budget and you will still need to borrow almost 50% of the current budget and they are not making moves to increase revenue

Madness at the highest level.

RingRoadMafia:
70% of it will be borrowed.

smh. You obviously struggle to comprehend how govt works
What you have there are estimates and can be far more and how you arrived at 70% debt shows you are likely weak in maths

ecolime:
May Buhari, APC & its ilks never happen to Nigeria again.

see them foolish and looting class of politians Nigerians will never forget in a hurry

Brunicekid:
Really unfortunate... The Debt Servicing is too high.

that is not even the most unfortunate..we can even forgive the sins of yesterday and make better decisions going forward, how about the need to borrow 50% of the budget again...which means debt servicing next year will be more next year

Buhari don't have any knowledge to innovate anything to generate revenue apart from oil money they are waiting for,same thing with tilumbu no any other source to generate revenue aside from tasking poor lagosian making poor people more poorer
When we have vastland waisting for agriculture

Egbami! And some nitwits said Nigeria isn't broke!

Okay..hmmm

RingRoadMafia:
70% of it will be borrowed.

This government has no idea how to generate funds, that's why we're where we are today. Buhari is bereft of ideas to make money; he has depleted the little Jonathan saved, he has borrowed to stupor, taxed Nigerians to stupor, hiked electricity bill to stupor, claimed monies in accounts of suspected deceased people instead of giving it their next of kin, charged Nigerians to pay "stamp duty", now he's mulling removing subsidy. All this whilst still maintaining the mammoth cost of running his government, maintaining their JUMBO salaries and emoluments, even their life-long pension and retirement benefits! All Buhari knows how to do is dump the cost of government on the common man. People are suffering terribly, but Buhari doesn't care. We will fuel his jet, and he will fly abroad to treat himself with our sweat and tears. If that isn't gross incompetence, then I don't know what is! We can't afford to have Buhari Pro-Max in office for another 8 years!!!

VOTE WISELY!!

please always talk when ever you have your brain by your side

tunapawizzy:
that is not even the most unfortunate..we can even forgive the sins of yesterday and make better decisions going forward, how about the need to borrow 50% of the budget again...which means debt servicing next year will be more next year

Yeah, that's true... Another angle to it.

I want to see the budget on key areas like Education, Health, etc.

Hmmm

All critics of 2023 budget defeats, how many are paying common taxes and yet they want trillions for development projects.

RingRoadMafia:
70% of it will be borrowed.

This government has no idea how to generate funds, that's why we're where we are today. Buhari is bereft of ideas to make money; he has depleted the little Jonathan saved, he has borrowed to stupor, taxed Nigerians to stupor, hiked electricity bill to stupor, claimed monies in accounts of suspected deceased people instead of giving it their next of kin, charged Nigerians to pay "stamp duty", now he's mulling removing subsidy. All this whilst still maintaining the mammoth cost of running his government, maintaining their JUMBO salaries and emoluments, even their life-long pension and retirement benefits! All Buhari knows how to do is dump the cost of government on the common man. People are suffering terribly, but Buhari doesn't care. We will fuel his jet, and he will fly abroad to treat himself with our sweat and tears. If that isn't gross incompetence, then I don't know what is! We can't afford to have Buhari Pro-Max in office for another 8 years!!!

VOTE WISELY!!

Nonsense Wailer, Nigeria is a Federation of States, Charity they say begins at home, you forgot to tell us how your state and local government based on their comparative advantages, generates funds for the benefit of your penury existence?

Oblivious Almijiri.

Another borrowing spree ACTIVATEDAnother borrowing spree ACTIVATED...

ekanx27:
The earlier Nigeria starts servicing her budget from internal generated revenue, the better it is for Nigerians and its citizen. Borrowing is not helping the country and it will keep plunging the country into perpetual darkness and doomsday.

But that would mean Buhari would have to resign because he'd have to begin doing actual Presidential duties like laying down foundations for all states to be self dependent which then turns Nigeria into a production country from a consumption one thereby reducing the amount of loans/aids we'd be needing to take...