₦airaland Forum

Senate tackles Adeosun over FG’s plan to pass 2018 budget in January

December 19, 2017

The Senate on Tuesday challenged the Minister of Finance kemi Adeosun, on Federal Government’s insistence on passing the 2018 Budget in January when less than 50 per cent of the 2017 budget was only implemented.

The upper chamber also queried why the 2017 Budget had no correlation to the 2018 Budget, insisting the implementation, if passed by January, would be poor because of the size of Nigeria.

Chairman Senate Committee on Finance, Sen. John Eno, made the position known during the budget defence of the ministry.

Eno asked to know how the ministry achieved 64 per cent budget performance in 2017 when other Ministries, Departments and Agencies (MDAs) were nearly scratching below 40 per cent.



Responding, Adeosun said the ministry was working to raise all the MDAs to 50 per cent performance before the end of the year.

On leakages in Federal Government earnings, she said the ministry would look into other agencies, outside the Federal Inland Revenue Service, that could augment earnings as pointed out.

“We have taken on board some of key reform initiatives. A total of N306 billion is expected from privatisation and N5 billion from sale of other government’s property to finance the deficit.“

She said oil revenue would contribute 37 per cent of the total revenue of N6.6 trillion.

Others, according to her, are recovered looted funds, 7.8 per cent; tax amnesty, 1.3 per cent; signature bonus, 1.7 per cent; joint venture equity restructuring, 10.7 per cent; grants and donors funding, three per cent and others, 5.5 per cent.

The minister said the revenue targeted for 2017 was largely achieved, with a record of 64 per cent performance.(NAN)

http://thenationonlineng.net/senate-tackles-adeosun-fgs-plan-pass-2018-budget-january/

Brilliant minister, I just love this lady, she discharge her duty perfectly, despite the unnecessary criticism by some people.

Sirjamo:
Brilliant minister, I just love this lady, she discharge her duty perfectly, despite the unnecessary criticism by some people.

Abi o. The Sinators expect 100% budget implementation on a budget that was passed in June 2017, by December 2017. Did the President not make it clear that the rest of the 2017 budget will be rolled over into 2018, for the New budget year to start in January 2018?
Imagine the level of knowledge and understating of the rogues representing us in NASS

Babe trying to play a fast one. My dear u av to wait till the fiscal year comes to a close , so at least expect the budget to be passed in April.

deji17:
Abi o. The Sinators expect 100% budget implementation on a budget that was passed in June 2017, by December 2017. Did the President not make it clear that the rest of the 2017 budget will be rolled over into 2018, for the New budget year to start in January 2018?
Imagine the level of knowledge and understating of the rogues representing us in NASS

Yes because the claimed they were embarking on Zero budgeting which means that they intended to have 100%performance .A lot of technocrats warned that they can't achieve Zero budgeting but they wanted to sound out a sweet terminology but failed

deji17:
Abi o. The Sinators expect 100% budget implementation on a budget that was passed in June 2017, by December 2017. Did the President not make it clear that the rest of the 2017 budget will be rolled over into 2018, for the New budget year to start in January 2018?
Imagine the level of knowledge and understating of the rogues representing us in NASS

If the rest of the 2017 budget is meant to be rolled over into that of 2018, why is there no correlation between the 2017 & 2018 budgets? Or didn't u read that part?

The upper chamber also queried why the 2017 Budget had no correlation to the 2018 Budget

Then how come her ministry is reporting 64% implementation while other ministries are barely at 40%?

The correlation is in the % of performance. Where have you seen that all Ministries must perform at the same rate? The useless Sinators are looking for money from constituency projects through the MDA's. They are not asking for Budget performance for your sake but for their selfish reasons. Go figure.

freeze001:
If the rest of the 2017 budget is meant to be rolled over into that of 2018, why is there no correlation between the 2017 & 2018 budgets? Or didn't u read that part?



Then how come her ministry is reporting 64% implementation while other ministries are barely at 40%?

Am I to listen to a local analyst ?


I believe kemi Adeosun

Sirjamo:
Brilliant minister, I just love this lady, she discharge her duty perfectly, despite the unnecessary criticism by some people.

You are a good analyst

deji17:
Abi o. The Sinators expect 100% budget implementation on a budget that was passed in June 2017, by December 2017. Did the President not make it clear that the rest of the 2017 budget will be rolled over into 2018, for the New budget year to start in January 2018?
Imagine the level of knowledge and understating of the rogues representing us in NASS

We need more people like you to tackle the emergency enemies of state turned financial experts

They are here already giving fake analysis

Pavarottii:
Babe trying to play a fast one. My dear u av to wait till the fiscal year comes to a close , so at least expect the budget to be passed in April.

Always vibrating



Emergency financial expert

chivic:
Yes because the claimed they were embarking on Zero budgeting which means that they intended to have 100%performance .A lot of technocrats warned that they can't achieve Zero budgeting but they wanted to sound out a sweet terminology but failed

What has zero budgeting got to do with this?

seunmsg:
What has zero budgeting got to do with this?

Baba don't waste your time educating them

Someone is about to spam this thread now

Anonimi is here already

deji17:
Abi o. The Sinators expect 100% budget implementation on a budget that was passed in June 2017, by December 2017. Did the President not make it clear that the rest of the 2017 budget will be rolled over into 2018, for the New budget year to start in January 2018?
Imagine the level of knowledge and understating of the rogues representing us in NASS

How are the rogues representing us in the NASS different from the barawo in Aso Rock who delayed for six months before even nominating ministers
Please tell us.
Thanks.

Firefire:

‘A budget that moves domestic spending in Aso Villa from N580m to N1.7bn cannot be a budget of change’

Abuja – Sen. Eyinnaya Abaribe (PDP Abia South) on Wednesday in Abuja, berated the 2016 budget and called on President Muhammaduu Buhari to withdraw it and go back to the drawing board.

Abaribe while making contributions during the consideration of the budget, said the proposal was faulty on many grounds and could not be implemented at it was.

He said that predication of oil benchmark at 38 dollars per barrel when the crude oil price had fallen below 30 dollars per barrel made the budget unrealistic.

Abaribe faulted the government for increasing spending by 30 per cent based on borrowing.

“Mr President, my colleagues, this budget is indeed unique. After the budget presentation, the finance minister has never come to explain the details of the budget as it is normally done.

“It is a budget of change I agree, but it is a change in the wrong direction. I say it is a change in the wrong direction because it says that it is based on zero budgeting requiring all expenses to be fully justified.

“Mr President, a budget that increases spending up to 30 per cent based solely on borrowing, in what way are we justified? That is the question we want to ask the people who brought this budget.

“We know what is going on in the global economy: this budget is predicated on an oil benchmark of 38 dollars per barrel and I can now say that with oil being 28 dollars today, this budget is dead on arrival.

“The job of the opposition is to help the government to get its priorities right, so I want to please urge this government to withdraw this budget and go back to the drawing board,” he said.

The senator also faulted the adjustments made in the budget as well as allocation for spending in the Aso Rock Villa, saying that it was too exorbitant.

He said that the adjustments rather than reduce spending in areas where they were not necessary only spread it into different offices.

“Mr President, a budget that moves domestic spending within Aso Villa from N580 million to N1.7 billion cannot be a budget of change.

“We were told that in the revised budget there was an adjustment due to error, we agree but what has happened is that up to N7 billion were moved from buying vehicles and spread to offices.

“It also increased the spending that is due to renovations within the Villa.

“They are going to renovate the Villa with N3.9 billion: what else do you want to renovate there that Nigerians will see in the Year 2016?” he asked.

However, in his contribution, Sen. Ahmed Lawan (APC Yobe North) blamed the previous administration for the lack of funds due to the embezzlement witnessed in previous governments.

He said that this was the 17th budget he would be debating as a legislator and noted that not more than 40 per cent implementation was achieved in the last 16 years.

“The proposal before us is the first budget where the executive has deemed it necessary to give ordinary Nigerians genuine hope.

“N500 billion allocated for school feeding and social SAFTEY NET is commendable.

“It is time to say oil should not continue to play dominant role as we have suffered economically and politically: it is time to diversify this economy.

“The direction of the executive is the way to go. `That is, we should make every effort to have the real sector-agric mining and manufacturing.

“The budget deserves the support of everyone, including my colleagues on the other side. When we were in the opposition we supported the PDP, they should support us,” he said.


www.nairaland.com/attachments/3317046_budgettt_jpegd73bb73944448e30966f27bc22a4c756


http://www.vanguardngr.com/2016/01/602809/

www.nairaland.com/attachments/2829595_img16797799937954_jpeg_jpegf12ec4c2cf413bca7562fe43c2669fe4

sarrki:
We need more people like you to tackle the emergency enemies of state turned financial experts

They are here already giving fake analysis

Those ones are only bellyaching for the loss of their beloved Jonothing and PDP. But no amount of their bucket of tears will bring back their IB hero and PDP

sarrki:
We need more people like you to tackle the emergency enemies of state turned financial experts
They are here already giving fake analysis

Shey na we send your barawo bubu and his 40 thieves cabal presidency to pad the budget
Fake analysis ko, fake eyelashes ni.

Why is no one asking why we are in recession despite budgets as follows:

2015 - N4.5 trillion
2015 - N2.1 trillion supplementary requested / N575 billion approved
2016 - N6.06 trillion
2017 - N7.3 trillion


Sources: http://www.reuters.com/article/nigeria-budget-idUSL5N0YB49M20150520
http://dailypost.ng/2015/11/18/buhari-seeks-n2-1trn-supplementary-budget-for-2015/
http://www.vanguardngr.com/2015/12/senate-approves-n575bn-supplementary-budget-for-buhari/
http://www.vanguardngr.com/2016/05/buhari-signs-n6-06trn-2016-budget-change/

www.nairaland.com/attachments/3366370_125927734333042835425381910869646342089244n1_jpeg1d4b88cded8ebcb69839caf542969a5a


www.nairaland.com/attachments/3475931_apc_jpegac400acfc063c990eecab1effb6ce5fc

sarrki:
Baba don't waste your time educating them
Someone is about to spam this thread now
Anonimi is here already

Why are you afraid na?
Guilty conscience needs no accusation.


www.nairaland.com/attachments/4180477_1392483210143001453357818500537568220443822n_jpeg744fcdbcdbc4f5b147d46800faffe62b


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The looting party did not provide a proper handover to the new Govt. Moreover, ministries were merged like the case of power, works and housing.

deji17:
The looting party did not provide a proper handover to the new Govt. Moreover, ministries were merged like the case of power, works and housing.

No proper handover? Since 2015? Three years after?
Wow, that is a new one.
Just when I thought the blames and excuses of the All Poverty Congress, APC zombies had been exhausted.
BTW, who asked vision-less illiterate old soldier to merge three ministries? Was it you, misitah financial budgetary expert?


www.nairaland.com/attachments/3403303_bruce_pngac5e04247d6bc83591bbe237085cb4b8


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anonimi:
No proper handover? Since 2015? Three years after?
Wow, that is a new one.
Just when I thought the blames and excuses of the All Poverty Congress, APC zombies had been exhausted.
BTW, who asked vision-less illiterate old soldier to merge three ministries? Was it you, misitah financial budgetary expert?


www.nairaland.com/attachments/3403303_bruce_pngac5e04247d6bc83591bbe237085cb4b8


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I am sure that apart from calling yourself a zombie, there is nothing worthwhile in your head. So Ministers has not been appointed for the past 3 years? For how long will you continue to mourn your loss of 2015 election? 2019 is almost here, are you prepared to wail till 2023 and beyond? The choice is yours wailing zombie. Obama blamed George Bush until his last year in office.

deji17:
I am sure that apart from calling yourself a zombie, there is nothing worthwhile in your head. So Ministers has not been appointed for the past 3 years? For how long will you continue to mourn your loss of 2015 election? 2019 is almost here, are you prepared to wail till 2023 and beyond? The choice is yours wailing zombie. Obama blamed George Bush until his last year in office.

Is that what you tell your fellow Association of ProgreTHIEF Criminals, APC zombies? Obama blaming Bush until 2016 when he left office? Are you kidding
Interesting fact that those with nothing worthwhile in their heads will naturally follow an illiterate who confessed with his own mouth that he is clueless about the economics of making money as confirmed by Ebola Owu and their Asiwaju Asiwere national leader who packaged him as our saviour.

citizenisb:
Former President Olusegun Obasanjo says President Muhammadu Buhari may not do well in economy and foreign affairs, except in military matters.

“Buhari is not a very hot person on the economy and foreign affairs,” Obasanjo said.

The former President stated this on Monday at the third International Conference on African Development Issues — themed, “Driving inclusive and sustainable development in Africa: Models, methods and policies” — organised by Covenant University, Ota, Ogun State.

While reacting to a question posed to him by a member of the audience: “Is there any hope for Nigeria under the administration of President Muhammadu Buhari?”, Obasanjo replied, “Is there any hope for Nigeria under this administration? I came back from Geneva, Switzerland a few days ago to attend a conference titled, ‘Are elections giving democracy a bad name?’ We had an election, we elected a leader and the good thing about democracy is that the power you have to elect a leader is also the power you have to remove him. I am saying this because I said earlier that if you don’t see any leader that has done well in the 56 years of Nigeria’s independence, then let us forget about Nigeria.

“I will tell you what I know and I will tell you what I don’t know. I know Gen. Muhammadu Buhari. He served under me in the military. His characteristics that I know, his behaviour that I know, he has not deviated from them. He was never a perfect man, he is not a perfect man and no leader can ever be a perfect man because they are human beings. But if you read my book, what I said about him is correct. He is not a hot person when it comes to economy. He is not a very hot person when it comes to foreign affairs. But he will do well in matters of military and he will do well in fighting Boko Haram.”


http://www.punchng.com/buhari-not-sound-economy-foreign-affairs-obasanjo/

www.nairaland.com/attachments/6432793_screenshot20171219094227_jpege074d484d588f157559d133a2d470290


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anonimi:
Is that what you tell your fellow Association of ProgreTHIEF Criminals, APC zombies? Obama blaming Bush until 2016 when he left office? Are you kidding
Interesting fact that those with nothing worthwhile in their heads will naturally follow an illiterate who confessed with his own mouth that he is clueless about the economics of making money as confirmed by Ebola Owu and their Asiwaju Asiwere national leader who packaged him as our saviour.




www.nairaland.com/attachments/6432793_screenshot20171219094227_jpege074d484d588f157559d133a2d470290


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I understand your frustration. The loss of your IB hero must be painful. I know you are hurting and you will wail for a long time to come as there is no end in sight to your pain.

deji17:
I understand your frustration. The loss of your IB hero must be painful. I know you are hurting and you will wail for a long time to come as there is no end in sight to your pain.

Na me send you to support a dullard barawo and his recession breeding bandits


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anonimi:
Na me send you to support a dullard barawo and his recession breeding bandits


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There is no end in sight to your wailing. You are hurting and I understand your plight. This is a self inflicted pain that you have put yourself in

sarrki:
Am I to listen to a local analyst ?


I believe kemi Adeosun

Who asked u? Or are you also deji17 and u forgot to respond with the moniker I quoted?

Madam Kemi, please come and contest for Ogun governor in 2019

The govt of Buhari is the laziest govt ever ..Since coming onboard they have not been able to implement upto 50 percent of any budget and we are already entering an election year ...God will punish any Nigerian that advises another Nigerian to vote for thhis useless character called Buhari