Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% - Politics

Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% - Politics - Nairaland

Nairaland Forum › Nairaland General › Politics › Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% (23936 Views)

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Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by politicoNG(op): 3:20pm On Jul 31, 2024

There was chaos at the house of representatives on Wednesday over a bill seeking to raise the ways and means cash advances from five percent to 10 percent.

Opposition parties staged a walk out during plenary after an amendment by Kingsley Chinda, the minority leader, that the ways and means be reduced to two percent was rejected.

The existing law provides that the advance by the Central Bank of Nigeria (CBN) must not exceed five percent of the previous year’s revenue of the federal government.

https://www.thecable.ng/breaking-opposition-reps-walk-out-over-bill-to-raise-ways-and-means-to-10/amp/

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Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by Cj4charles(m): 4:03pm On Jul 31, 2024*

Tinubu will definitely finish this country... that's my happiness 😁😁🤣

45 Likes 2 Shares

Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by mytime24(f): 4:03pm On Jul 31, 2024

After walkout
What next🫤
U go still walkin 😄

Why not resign 😔

42 Likes 2 Shares

Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by STEWpid(f): 4:03pm On Jul 31, 2024

Na turn by turn,,

He protested yesterday,,

They're protesting against him right now,,

And those who are protesting this season will also be protested against when their time might come,,

Internet and mass media never forget!!

C h a i..

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Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by Prosperous111(m): 4:03pm On Jul 31, 2024

Torh

Make Dem join us for protest grounds tomorrow abegi grin

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Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by Chykason(m): 4:03pm On Jul 31, 2024

Interpretation please?

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Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by alsudan: 4:04pm On Jul 31, 2024

More inflation Loading.

E no go better for APC and Thiefnibuu.

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Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by phemmie06(m): 4:04pm On Jul 31, 2024

Werey set of people

3 Likes 1 Share

Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by alt3r3g0: 4:04pm On Jul 31, 2024

They will soon be called to order

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Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by joshjc(m): 4:05pm On Jul 31, 2024

What does it mean?

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Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by crestedaguiyi: 4:05pm On Jul 31, 2024

you see why the protest should go on for those who want to dare it.

I am in the east, we no follow

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Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by KingLennon(m): 4:05pm On Jul 31, 2024

The business of way and means is the process by which the government acquires the necessary finance required to fund its expenses or budget.

People are suffering and the government is looking for more funds to loot sad

. And they even want to raise it by 10%, that is x2. This government lacks conscience and human empathy walai sad

47 Likes 3 Shares

Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by Inspirer1: 4:06pm On Jul 31, 2024

Another drama or possible revelations loading...

Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by Efuaye(m): 4:06pm On Jul 31, 2024

Seriously?
They should join the protest tomorrow.
Tomorrow’s protest mustn’t fail because the senate president Akpabio is already mocking the hungry Nigerians who want to protest.
We will have dictators in power unless a strong mass signal is sent through this protest peacefully.

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Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by AntiChristian: 4:06pm On Jul 31, 2024

Make them reduce am to 2% ooooo!

WAYS AND MEANS!

"Ways and means" typically refers to the ways by which the government can raise funds to meet its financial needs, especially when there is a budget deficit. This provision allows the government to borrow money or issue securities to manage its financial obligations.

When it is mentioned that "ways and means" is raised to 10% from 5% in the context of the Nigerian constitution, it likely means an increase in the limit or threshold for the government to utilize these financial mechanisms. Here's what this increase could signify:

Increase in Borrowing Capacity: Raising the "ways and means" limit from 5% to 10% allows the government to borrow more money to finance its operations, especially in times of financial stress or unexpected expenses.

Enhanced Financial Flexibility: By increasing the limit, the government gains more flexibility in managing its finances and addressing budget shortfalls without resorting to drastic measures.

Potential Impact on Debt Levels: This change could impact the government's debt levels and overall fiscal health. A higher ways and means limit may lead to increased borrowing, which could have implications for the country's debt sustainability.

Overall, raising the "ways and means" limit from 5% to 10% in Nigeria's constitution can provide the government with additional financial resources and flexibility, but it also comes with the responsibility to manage these funds prudently to avoid adverse effects on the economy and public finances.

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Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by Brendaniel: 4:07pm On Jul 31, 2024

Tinubu behaving just like Buhari with ways and means

Tinubu and APC supporters shame on all of you...

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Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by Femiwilli: 4:07pm On Jul 31, 2024

ccc

Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by iwaeda: 4:07pm On Jul 31, 2024

politicoNG:
https://www.thecable.ng/breaking-opposition-reps-walk-out-over-bill-to-raise-ways-and-means-to-10/amp/

Confusion breakbone. See people that want to change Nigeria. Yemi Edun told us, they are out of ways and means, yet they are increasing it to 10%. It is well. grin

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Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by atobs4real(m): 4:08pm On Jul 31, 2024

Thank you for walking out.
They don't mean well for the masses.
That will also make them enrich themselves

16 Likes 1 Share

Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by Tjra: 4:08pm On Jul 31, 2024*

Thieves

Until dem stage walkout against their huge allowances before I take them seriously.

atobs4real:
Thank you for walking out.
They don't mean well for the masses.
That will also make them enrich themselves while the masses are hungry and jobless.

I am sure you don't even know the meaning of "Ways and Means" but as you hear 'stage walk out', your small prick don erect.

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Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by atobs4real(m): 4:09pm On Jul 31, 2024

Thank you for walking out.
They don't mean well for the masses.
That will also make them enrich themselves while the masses are hungry and jobless.

4 Likes 1 Share

Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by olax02(m): 4:09pm On Jul 31, 2024

politicoNG:
https://www.thecable.ng/breaking-opposition-reps-walk-out-over-bill-to-raise-ways-and-means-to-10/amp/

Please comrade, what's ways and means?

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1 Like

Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by emmanuel596(m): 4:10pm On Jul 31, 2024

Anything that benefits their interest they are always active but ones it concerns the masses they will be slow to stage a walk out

1 Like

Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by Abagworo(m): 4:10pm On Jul 31, 2024

Some people are stylishly safeguarding themselves from future uprise

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Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by LandMann: 4:10pm On Jul 31, 2024*

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Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by UnfairLife7(m): 4:10pm On Jul 31, 2024

Your power is nothing if your people cannot afford quality education
Your power is nothing if your people cannot feed
Why you keep deceiving the people my brother my sister

5 Likes 1 Share

Re: Opposition Reps Stage Walk Out Over Raising Of Ways And Means To 10% by efemena5050(m): 4:10pm On Jul 31, 2024

joshjc:
What does it mean?

in economics ways and means refers to percentage of economic salvage or budget deficit financies allowed by the central bank of Nigeria.....it represent an expansionary monetory tool use to raise money to finance deficit buget or debt service ( printing of money)
.........the resulting effect of 10 percent increase can necessitate further inflationary indices due to expansion in money velocity by cbn

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