₦airaland Forum

omenka:
Who cares if you (one person), out of nearly 200million people, don't accept it?? You can remain stuck in the past with garri, tomato, bread and pure water prices while the rest of us leap into the future.

You won't be missed.

cckris:
Tell that to APCshit Economic magicians. And also to your Fulani emirs , who, like Buhari himself, send their children to the best schools around the world, & COMPEL others CIRCUMSTANTIALLY into ALMAJIRI, where they can't acquire skills, & then want to make the Arabic they learn relevant in Nigeria. You know even the North Central can't take it anymore.

fiizznation:
My friend what are you saying? That's my number problem with most of you commentators on this forum,you just drop your comments irrationally. Why don't you tell the eastern governors to stop collecting monthly allocations from the central government if you think they can survive without it. Some of you are just annoying to be honest

omenka:
Who cares if you (one person), out of nearly 200million people, don't accept it?? You can remain stuck in the past with garri, tomato, bread and pure water prices while the rest of us leap into the future.

You won't be missed.

fiizznation:
Your comment up here have nothing to do with the subject of discuss here so don't try to digress or bring some ethnic/religion colouration into it. We are discussing economy here not region, tribe nor religion. You came here telling people that buhari wants to control the price of everything which if I still remember my basic economics, is kind of impossible. I tackled you with a superior argument which was the fact and honest truth. You then suddenly decided to bring ethnicity into the subject matter. My friend you have scored an own goal and have exposed yourself as a bigot.

cckris:
Now, you're ready to learn. Monthly Revenue Allocations is exactly why Nigeria is in Economic doldrums. Nigeria & Nigerians were progressing when there wasn't any Revenue Allocation. Why? Revenues are a Function of something you & Buhari can't figure out. Seize all the monies into a dubious TSA, & you're creating more political nightmares for Buhari's medieval mindset.

malton:
I doubt if that guy is actually a husband. He just doesn't have love to offer.

cckris:
Are you presuming you can separate Sociology from the Political Economy? They're all matrixed, even if you're uncomfortable with the FACTS on ground.

malton:
I doubt if that guy is actually a husband. He just doesn't have love to offer.

fiizznation:
I don't have any problem with regionalism or any of that such things but it just disgusts me when I see learned and educated people hiding behind some silly banner of "economy freedom" to throw shades at people. Besides, implementing regionalism is not even a catalyst for any speedy economy growth of a nation. Some African nations practice it and their story hasn't changed till date

Anasko:
Senator Udo Udoma, Minister of Budget and
National Planning, on Thursday, said that
the Federal Government would begin capital
releases for the 2016 budget today. Analysts
say implementation of the 2016 budget may
inject the funds needed to lift Nigerian
economy from the current level.
The minister spoke while giving a breakdown
of the 2016 Budget of Change at the
Presidential Villa, Abuja.
“By tomorrow, some releases would be
made. We are ready to start releases as far
as the budget is concerned,” said Udoma,
adding that his ministry intends to work
closely with the Federal Ministry of Finance
to ensure cash backing of the capital
projects.
“The 2016 budget would run concurrently
until May next year as government intends
to return to the January to December
financial year, the minister said in a question
and answer session.
“We intend to take the budget to where it
ought to be, the January to December
financial year, which is much better for
implementation. So for the next year’s
budget we intend to get it to the National
Assembly so that it is passed by the year
end,” he said.
This is even as the budget minister said the
2016 budget would include six strategic
areas such as economic diversification,
critical infrastructure and reforms in the oil
and gas sector.
Others, he said, include ease of doing
business, policy, environment, national
security and governance, and social
investment.
“The Strategic Implementation Plan forms
the basis for the preparation and
implementation of the 2016 budget, as it
documents the key short-term priorities of
the incumbent administration to place the
economy on this upward trajectory as it is
repositioned for change, inclusive growth
and sustainable development,” Udoma said.
A breakdown of the 2016 budget projections
shows that the fiscal document envisages a
net distributable revenue of N5.72 trillion,
comprising main federation account revenue
of N4.303 trillion and N1.416 trillion from
the value-added tax pool account.
Of the distributable revenue, net oil receipts
amount to N1.48 trillion or 25 percent while
net non-oil revenue accounts for the balance
of N4.22 trillion or 75 percent.
The states and local governments’ share of
the distributable pool amount to N3.24
trillion while the Federal Government would
receive N2.48 trillion.
The Federal Government’s budgeted revenue
is projected at N3.855 trillion largely
contributed by the internally generated
revenue (IGR) of N1.51 trillion, which is 35
percent increase over the N2.855 trillion for
the 2015 budget.
Federal Government’s revenue is mainly to
be derived from the growth in non-oil
resources from corporate tax; VAT and
dividends from government corporations
and independent revenue.
A projection of N1.88 trillion was made on
corporate taxes in the 2016 budget as
against N1.42 trillion in 2015, and VAT
collection of N1.48 trillion in 2016 from
N1.28 trillion last year.
Provisions for expenditure of the N6.06
trillion 2016 budget shows a 35 percent
increase over the 2015 budget of N5.067
trillion.
Statutory transfer (inclusive of N157 billion-
capital component) is put at N352.37 billion,
debt servicing including sinking fund of
N1.48 trillion, recurrent (non-debt)
expenditure is put at N2.65 trillion.
Capital expenditure (excluding share of
capital in statutory transfers) is put at N1.59
trillion while the capital expenditure
(including share of capital expenditure in
statutory transfer) is put at N1.7 trillion.
Some key allocations in the 2016 budget are
Ministry of Power, Works and Housing,
N456.93 billion; Transpiration, N202.34
billion; Defence, N443.07 billion; Interiors,
N513.65 billion; Education, N403.16 billion
and Health, N250.06 billion.
Others are Agriculture and Rural
Development, 75.80 billion; Solid Minerals,
N16.73 billion; Youth and Sports
Development, N75.79 billion; Water
Resources, N53.30 billion and special
intervention programmes of N500 billion.
The budget is predicated on an oil
production benchmark of 2.2 million barrels
per day at $38 per barrel and an exchange
rate of N197 to a dollar.
Udoma said government plans to actively
support the use of public private
partnerships in the development of
infrastructure and encourages ministers to
explore concessioning arrangements for
airports, major roads and other
infrastructure projects.
The government, he said, was working to
raise $25 billion for the establishment of an
infrastructure fund within three years.
Among priority projects listed for
implementation by government are
dualisation of the Kano-Maiduguri Road
(sections I-V) for N13 billion; Lagos-Ibadan
Expressway (section1) for N40 billion; N1.1
billion for the generation of 700mw from
Zungeru Hydro Power Project; N18.3 billion
for the completion of Abuja (Idu) – Kaduna
186.5km single track rail line; N60 billion
counterpart funding for Lagos- Kano
Standard Gauge rail line and N60 billion
counterpart funding for Calabar-Lagos
Standard Gauge rail line.

http://independentnig.com/economy-to-rebound-as-fg-begins-capital-release-today/

AtlanticBreeze:
some of you amaze me the way you reason. Are our senators now the bigoted Buhari and Fashola that are punishing igbos for not voting their useless government? Atleast those from the south east that supported this useless government can now see clearly.. Let Buhari do his worst. No regret for not voting the dullard

jcross19:
Kai baba!!!!!!!!!!!!. It took our president 4months to have his cabinets in place,10months to sign a budget then how long do yo think he will take him to deliver a single project? But only take him some minutes to jet out the country.


Buhari is whipping our economy with his archaic approach . Just hope this economy won't die finally.
Too much of burukutu is dangerous to your health mr bubu.







Even nairaland is feeling the change .

cckris:
The proudly 5% is CONSISTENTLY DEMANDING a well-structured Economic ground for all Nigerians to thrive, at their own pace. Other regions INSIST on Govt-controlled, actually SOCIALIST, development even in arid unEconomic places.
Eastern Leaders have never been known to be asking for these unEconomic handouts that usually fizzle when the sponsor Govt is no longer in office. Please don't join the shallow brains to argue irrationally.

hungryboy:
Which economy wan pick up?,

na the garri were be 3 cup 100naira now,
abi the fuel were be 145naira,
Abi na the dollars were dey near 400naira?

jcross19:
Kai baba!!!!!!!!!!!!. It took our president 4months to have his cabinets in place,10months to sign a budget then how long do yo think he will take him to deliver a single project? But only take him some minutes to jet out the country.


Buhari is whipping our economy with his archaic approach . Just hope this economy won't die finally.
Too much of burukutu is dangerous to your health mr bubu.







Even nairaland is feeling the change .

cckris:
Buhari has AMBUSHED the entire economy by removing subsidy at a time Demand for Forex will hit 400 naira for 1 dollar.

BushidoBlue:
[size=18pt]How can something yet to be implemented be "seen to pick up"?

[/size]

cckris:
Market PRICE is more powerful than propaganda. The cost of shipping Tomatoes from Katsina to Lagos will determine retail price, when other prices are escalating because of Buhari's personal desire to CONTROL & COMMAND every Nigerian like a battalion commander.
The masses on the street will chase Buhari out of Nigeria if he doesn't CHANGE his medieval mindset.

cckris:
Buhari has AMBUSHED the entire economy by removing subsidy at a time Demand for Forex will hit 400 naira for 1 dollar.

Quakertellicus1:
You are asking for a capitalist economic system.....and at the same time opposing the removal of the fuel subsidy....which supports a capitalist system.

Also, you are saying that states should stop asking for hand-outs? Most of your eastern states (with the exception of Anambra) would be broke in minutes.

greatiyk4u:
How long did it take him to build a helipad in daura?

He will use same speed in doing others

jcross19:
Kai baba!!!!!!!!!!!!. It took our president 4months to have his cabinets in place,10months to sign a budget then how long do yo think he will take him to deliver a single project? But only take him some minutes to jet out the country.


Buhari is whipping our economy with his archaic approach . Just hope this economy won't die finally.
Too much of burukutu is dangerous to your health mr bubu. And to u now, u av spoken just remeber one thin is old enough to b ur grand father.







Even nairaland is feeling the change .