₦airaland Forum

As Nigeria continues to battle economic recession, the President Muhammadu Buhari led Federal Government has proposed to fund part of the 2017 budget deficit of N2.69 trillion from monies recovered from looters.

According to reports, FG in a Medium Term Expenditure Framework/Fiscal Strategy Paper submitted to the National Assembly is proposing to spend the sum of N6.86tn in 2017, with total revenue of N4.16tn.

With a funding gap of N2.69tn, the government said part of the deficit would be financed with recoveries from looted funds, the rest would be from borrowings.

“Based on the revenue and expenditure estimates, the fiscal deficit is estimated to increase by about N492bn or 22.32 per cent from the estimate of N2.2tn in 2016. “However, while this remains below the maximum three per cent of the Gross Domestic Product stipulated in the Fiscal Responsibility Act, 2007, it is projected to take a downward turn afterwards.

“The deficit is to be financed mainly by borrowing as well as recoveries of misappropriated public funds/assets.” “Borrowing will be geared towards funding critical capital projects that have potential to effectively increase productivity, and hence, provide mechanism for refinancing the debt,” the document read in part.

Source: https://www.naij.com/1048724-buhari-reveals-recovered-stolen-monies-will-used.html

nice one

Why is this govt policies alwayz in future tense?

Are we to wait till 2017 before we can eat well in this country?

imagine! sombori canno eat "ekpang nkukwo" again

TTC =TEACHERS TRAINING COLLEGE

The money should not just form part of revenue but target at particular project tag "Nigerian hate corruption". I will suggest the proposed housing estate in all the states of federation.

Nigeria will be great again!!

Hope it doesnt get looted again?

He should use the money to buy Ghana or annex Benin Republic

And the story continues... I have not heard how the "trillions" collected through the TSA is being used or proposed to be used yet o. Someone should educate me about that, please.

What's tha business?

Give him one day, just one day, it will be a different story, is it not this government? That somersaults on policies and decisions like it is a game they are playing. Very unserious government.

All the billions and trillions being touted about re: budget, of what benefit has that been to the average man on the street?

Confused

Sharp sharp, time no dey. For wailers, over to you.

Chai APC nd lies smh

Make we hear word!
These people wey their economic policy get K-leg

I know that same money will be looted... Shebi na naija we dey

So we have money to fund 2017 budget deficit but we are borrowing to fund 2016 budget deficit.
I don't understand.

Icecomrade:
Confused Tyrant

Bloody ipob

to be looted again

Ok

Following

Yeye

muykem:
The money should not just form part of revenue but target at particular project tag "Nigerian hate corruption". I will suggest the proposed housing estate in all the states of federation.

you're right!
just one big project.

God bless our President

Lol... you mean the abstract recovered money?

mumu

muykem:
The money should not just form part of revenue but target at particular project tag "Nigerian hate corruption". I will suggest the proposed housing estate in all the states of federation.

@ the highlighted may not be possible with this regime
The have focus in some region

Lilimax:
Make we hear word!
These people wey their economic policy get K-leg

I know that same money will be looted... Shebi na naija we dey

This issue is beyond your mental capacity to process and comprehend. Please go into the other room or go to romance section

SweetyZinta:
Nigeria will be great again!!

Like seriously

Lilimax:
@ the highlighted may not be possible with this regime
The have focus in some region

Yeah, we know, we know

Crystal70200:
As Nigeria continues to battle economic recession, the President Muhammadu Buhari led Federal Government has proposed to fund part of the 2017 budget deficit of N2.69 trillion from monies recovered from looters.

According to reports, FG in a Medium Term Expenditure Framework/Fiscal Strategy Paper submitted to the National Assembly is proposing to spend the sum of N6.86tn in 2017, with total revenue of N4.16tn.

With a funding gap of N2.69tn, the government said part of the deficit would be financed with recoveries from looted funds, the rest would be from borrowings.

“Based on the revenue and expenditure estimates, the fiscal deficit is estimated to increase by about N492bn or 22.32 per cent from the estimate of N2.2tn in 2016. “However, while this remains below the maximum three per cent of the Gross Domestic Product stipulated in the Fiscal Responsibility Act, 2007, it is projected to take a downward turn afterwards.

“The deficit is to be financed mainly by borrowing as well as recoveries of misappropriated public funds/assets.” “Borrowing will be geared towards funding critical capital projects that have potential to effectively increase productivity, and hence, provide mechanism for refinancing the debt,” the document read in part.

Source: https://www.naij.com/1048724-buhari-reveals-recovered-stolen-monies-will-used.html

When they recover 50million Naira, they will then borrow 2.68995 trillion.

They will now lump everything as "others" or as "borrowed and recovered" 2.69 trillion

Make dem use am naw and it should be an open transactiön. Make everybody know ow much and ow its been spent