₦airaland Forum

Which resources is used to fund the budget?Is it cow?No!Is it import duty?Bullhari has ban importation.So there is no generation of import duties by custom.

Government is being clever by half. The dollar is not 305 Naira and we will not sell 2.2 million barrels. A significant part of the budget is to be funded by DEBT which will end up being paid for by oil.

What happens to the difference in the exchange rates .It seems this is a way by the FG to shortchange other tiers of government

Obama will found the rest...

I do pray for his excellency that his effort to make a definite change in the nation will work for all to enjoy .

While loan and irregular taxing takes care of the rest

Red and green house Say no to paddling.

like it or hate it oyel still take larger portion of d budget NDA do something ooh

Buhari can't fool us, oil is funding 95% of that budget

This is the problem with Nigeria. We are all singing the 2017 Budget and just forgot that the 2016 Budget was approved barely seven months ago. Have we sat down to evaluate the 2016 Budget and see the shortfalls? Msheww

Education 50BN while amnesty 65BN, hmm na wa o!

Chaleeee:
What will fund the rest? Debt?

ME and you bro. From data plan increase and other stiff measures.

27%? Another lie of the century. This Buhari is so proud that he doesn't even want to give credit to the people funding his government. Why is it always 27%? In months they say federal allocation is 27% oil funded, the 4 core Niger Delta oil producer have the highest by high margin.

Nolonger looted funds
You never show us the birth of 2016 budget o.

BeeBeeOoh:
http://www.dailytrust.com.ng/news/general/oil-to-fund-27-of-n7-3tr-2017-budget/176035.html

c mumu, u just want to make look as if oil is no more catering for 99% of the Nigerian revenue, c ur head.

Budget Wahala!

Another budget!

See the way these Creek boys don bomb and vandalise food commot from their mouth...?

See where oil way dem dey use make mouth no come be anything again...

Make una go continue bomb o...
Because this hardship and "thinking outside the box" don make government restrategize and also open people eyes better...

Oyel is funding only 27% of 2017 budget, by 2018 Oyel will fund only 17% of the budget. By 2019, oyel will not be part of the budget, then South-South Avengers and Scavengers will start hawking their oyel in Lagos holdups like Gala and LaCasera. So, if you think Buhari is not diversifying the economy, then bring your own better idea.

Chaleeee:
What will fund the rest? Debt?

No sir New taxes. tell me what other "smart way" has this administration generated money aside tax? we are in very deep shit in this country till Baba hands over

ificatchmodeh:
Bubu and his cohorts keep deceiving gullible nigerians.


Una know go talk true make we know au we fit contribute ideas help.

No just d feel this government..no vibe..nothing!e just dull.

To many stories and blunders..

Besidethis. Budget na for election 2019..see

Go and sleep

CriminalIkedi:
Go and sleep

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You know dey tire!
Anyway your type dey always get kpasha..

Stalwert:
GBAM laziness has reduced the Nigerian youths. to nothings

E for easy pass if post am for instagram or use nursery rhyme do am...

FG wants to do everything and yet they do not do anything. In this kind of time, give money to the state govt and let them execute capital project that will provide jobs and cash to the people.
I do not want to say that a lot could be saved be doing off some of the cost areas because it the statement is a cliche.
I do not see why a trillion will not walk the talks in Nigeria beside, all these money keep emptying in the same projects. I hope 2018 will not have same projects as 2017. At least every project require 4 years of running before upgrade and major maintenance.

ificatchmodeh:

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You know dey tire!
Anyway your type dey always get kpasha..

Mechionu. We are helping you spread the gospel, will forward a blog to you soon and you will weep.

EternalTruths:
Does Buhari really know the solution to Nigeria economic crisis he created.

A nation in recession increasing taxes and interest rates is like a madman with a lighter in a gas station

Just pray he doesn't light the gas station

Bro, are you sure he created this crisis? Some of his decisions may be wrong, but the notion that he created this crisis seems wrong to me.
How can a country fritter away oil wind fall and at the same time consume it's reserves in a period of excess but still expect not to be in crisis

Love Machine:
Which resources is used to fund the budget?Is it cow?No!Is it import duty?Bullhari has ban importation.So there is no generation of import duties by custom.

Bro. He banned importation of cars via land borders which we know is not efficient in collecting duties, since a large part of monies collected end up in people's pockets. Aside from that, Benin Republic, which is our main external port for importation doesn't remit funds as required, despite having had several meetings with them.
Importation via our sea ports was not banned. This ensures that revenues come to us instead of going to our neighbours. Recently, Benin Republic started experiencing economic downturn partly due to withdrawal of Nigerian imports. It tells us how large these monies can be

omonnakoda:
Government is being clever by half. The dollar is not 305 Naira and we will not sell 2.2 million barrels. A significant part of the budget is to be funded by DEBT which will end up being paid for by oil.

What happens to the difference in the exchange rates .It seems this is a way by the FG to shortchange other tiers of government

We may not sell 2.2 mbpd, Dollar may be 400 Naira and above in black market. But we may sell an average of 1.9mbpd at not less that 55$ pb. The difference of at least 10$ pb compared to the buffeted price will cushion effects of your observation.

It may not be so bad after all

Gliding:
We may not sell 2.2 mbpd, Dollar may be 400 Naira and above in black market. But we may sell an average of 1.9mbpd at not less that 55$ pb. The difference of at least 10$ pb compared to the buffeted price will cushion effects of your observation.

It may not be so bad after all

No one knows, I don't you don't and the government does not.

anyway that was not the point that was a detail. No need to major in minors. I am not saying it is bad or good. I am saying it is not a realistic way to plan or budget.
We did not sell 1.9 mbpd this year.Why? we all know why .Have those circumstances changed?
We have no control over oil prices .

The real point though was that the other tiers of government are being shortchanged by the FG and CBN who are selling oil in dollars remitting to the states at #305 and giving the dollars to teir friends to sell at 60% mark up.


That 60% margin on the crude dollars is my poingt.It is deceitful and fraudulent