₦airaland Forum

eminikansoso:

This inflation rate always going up every year and the oil price bench mark of $45 per barrel hope the excess price from the sales of crude oil will not be pocketed by our lords
What other sectors are we going to use apart from oil sector because what am seeing is non oil revenue is almost 171% of oil revenue.

Caseless:
even the opposition couldn't doubt the implementation level of the 2017 budget. The capital spending practically drew us out of recession and put many people back to work. Go figure.

You think if all leakages are blocked and tax collection improved , we won't get 70-80% of that projection?

The oil benchmark is $45 dollar and the price is improving. Don't you think we might find something to fall back on if price enjoy more stability as predicted by world bank?

RealityShot:
really?!

so how come TSA managers took 300billion from the govt account and earned 18% interest by lending the money back to govt through treasury bills..

they made 50billion from that single deal!...

EVER SINCE THIS BUHARI TENOR..
we hear "recession" yet budget total keeps rising each year!

Where is the money going?

Recurrent expenditure almost higher than this years budget!!

Change! O buhari govt CHANGE!

teebell999:
TSA has been in existence before Buhari pls.

daymeelarday:
I think some other areas of the economy apart from oil are "still" in existence, such as agriculture, and palm oil production but I doubt if we generate that much revenue from these sectors.

Caseless:
even the opposition couldn't doubt the implementation level of the 2017 budget. The capital spending practically drew us out of recession and put many people back to work. Go figure.

You think if all leakages are blocked and tax collection improved , we won't get 70-80% of that projection?

The oil benchmark is $45 dollar and the price is improving. Don't you think we might find something to fall back on if price enjoy more stability as predicted by world bank?

fxjunkie:
RECURRENT EXPENDITURE IS GREATER THAN CAPITAL EXPENDITURE YET YOU EXPECT NIGERIA TO BECOME A DEVELOPED COUNTRY. KEEP DECEIVING YOURSELVES.

Ugo4hotish:
is it the presidents fault that recurrent expenditure is high?
don't you know that too much population leads to too much work force, and corruption practices like ghost workers?
then it will eventually lead to too much recurrent expenditure. that recurrent expenditure is what keeps the citizens either rich or poor. imagine a case where FG no pay allocation, and en no pay salary, do you think business will move for people in the market

RealityShot:
Crude oil price has been above $45 since january this year.. Now its $63+.. Where are the EXCESS CRUDE OIL REVENUE kept so far?

and where will they put the excess for next year?

Caseless:
I'm impressed by the projection for non-oil revenue.

modelmike7:
Enemy of Progress in da building!!

xreal:
Unlike when Jonathan was there....

this time, you can't really misbehave with money.

Buhari is watching.

Right now, head of ministires and agencies are like
[img]https://media1./images/77be079328bdc817166132cccd1cb80f/tenor.gif?itemid=5578754[/img]

RealityShot:
Crude oil price has been above $45 since january this year.. Now its $63+.. Where are the EXCESS CRUDE OIL REVENUE kept so far?

and where will they put the excess for next year?

Majesticniyi:
Didn't I read somewhere this morning about Senate calling for abolition of Excess Crude Account?

HAH:
it shows we are moving away from oil gradually, oil revenue is about 35% of the budgey

ogtavia:
yes,we have seen the breakdown...but what about 2017 budget,we still haven't seen its effect or changes from its expenditure. ..make we lie small small oh
.

Butterworth:
Did you noticed that our RECURRENT EXPENDITURE is higher than our CAPITAL EXPENDITURE.

But I don't expect you to understand what that means.



The sooner folks like you realize that it's not about PDP/APC, but about holding our leaders accountable, the better for all of us in this messed up ENCLAVE called Nigeria.

Caseless:
what do you think was the benchmark in the last budget that you're asking for the excess? Well, the excess is in excess crude account. The one depleted by Jonathan is being stashed again.

patrick89:
I have been asking this question no one has answered me..
I'm surprise that we do not have good economics in the house.. The budget is very unrealistic. With the #305 forex benchmark, we are not telling ourselves the truth..
The none oil revenue expectation is very laughable, no matter how they try to spin it. we are still, oil economy.
Telecommunication(ICT), manufacturing, Real estate, entertainment,agriculture can not give us 1/4 of the non oil revenue.It is very unrealistic.

presidency:
Yesterday, President Muhammadu Buhari presented the Budget 2018 proposal to a joint session of the National Assembly.

Here is a breakdown of the #Budget2018:
Proposed Recurrent Expenditure - N6.18tn
Proposed Recurrent Expenditure - N6.18tn
Proposed Capital Expenditure - N2.42tn
Total Proposed Budget Size - N8.6tn

Assumptions:
Benchmark Oil Price $45 per barrel
Oil Production: 2.3mbpd
Exchange rate: N305/$1
Inflation Rate: 12.4%

GavelSlam:
Are you not reading about the stock market rallying daily?

Here on Nairaland did you not read about the cost of food staples falling?

What of stability of our currency?

I can even go as far as to say more jobs were created in 2017 than last year.

The ease of doing business has also been lauded by the international community.

Banks and various industries have declared profit for the quarter or half year financials.

2017 was a good year and we are looking forward to 2018.

I know it's difficult for many to grasp or appreciate due to their ingrained aversion for the government of the day but these are all incontrovertible facts.