₦airaland Forum

President Muhammadu Buhari has proposed N8.83 trillion naira budget for 2019 to the joint session of the National Assembly.

The presentation of the budget was presented under a rowdy session with opposition lawmakers repeatedly booing the President as he listed his achievements.

The budget proposal was prepared based on the following assumptions: Oil price: $60 per barrel of oil production rate: 2.3 million barrels per day exchange rate: N305 to $1 Real GDP growth: 3.01 per cent inflation rate: 9.98 per cent.

The proposed budget shows that about a quarter of the sum (N2.14 trillion) will be used for debt servicing while capital expenditure is expected to gulp N2.031 trillion.

See more breakdown below.

Recurrent – N4.04 trillion
Debt service – N2.14 trillion
Statutory transfer – N492.36 billion
Sinking fund – N120 billion
Capital expenditure – N2.031 trillion

More details later…

SOURCE: http://www.nigerianeye.com/2018/12/breaking-buhari-proposes-n883-trillion.html

BUHARI!!!

While the budget presentation was on with the noisy Ayes and Nays in competition, I was looking at Saraki. Some questions kept bothering me:

What happened to massive NASS budget? Why is Saraki unable to pay his workers?

Fellow country men and women, we need to keep these people far awày from the national treasury if Nigeria will.make.progress.

Debt servicing higher than capital expenditure

Debt servicing economy.... little wonder we are were we wear were wea. What am i saying sef

Reeling out Trillions of Naira every year without corresponding effect on the Life of Nigerians.

Insanity is doing the same thing over and over again and expecting different a results.

This is not about APC or PDP. Nigeria is simply not working with the current arrangement. The unemployment rate is rising daily and the Population is increasing without corresponding increase in revenue and resources of the Nation.

Imaging a man who earns 200 thousands Naira a month with 4 children and after 16 years he has a total number of 10 children with the same amount of money. If he does not create additional avenue to support his family, he will find it difficult to meet up.

Jibril must go back to Sudan....



Incompetent morons

Haahaaaa

Budget keeps increasing yearly with little or no impact on our Economy

Imagine using quarter the budget to service debt
This country is a shit hole

2019 just do fast and come

Failed government.

I'm a good artist with a good fan trick, lemme be ur driver, take u to the alter, girl I cannot lie ur smiling is brighter, follow me on twitter, I will cook dinner, got a good partner, inside me he's eager...i fb @kayman_007

Atiku/Obi is the SUREST way to go for every;

Reasonable
Sincere
Progressive
Unbiased
Sane
Visionary
Lively and
Non-gullible Nigerian who Loves the Unity and Prosperity of this great Nation.

Support PDP if you belong to any /all of the above categories.

#Donotreinforcefailure #LetsgetNigeriaworkingagain

Looters will be wiped out and their agents castrated

Nigeria is doomed, debt service is greater than capita expenditure.

K

K

Where will the money come from? He will go borrowing again. Was 2017 and 2018 budgets eve. Implemented? I don tire for Jubrin Al Sudan's matter.

Anyway he's going back to Daura abi Sudan, come 2019.

nimisola:
President Muhammadu Buhari has proposed N8.83 trillion naira budget for 2019 to the joint session of the National Assembly.

The presentation of the budget was presented under a rowdy session with opposition lawmakers repeatedly booing the President as he listed his achievements.

The budget proposal was prepared based on the following assumptions: Oil price: $60 per barrel of oil production rate: 2.3 million barrels per day exchange rate: N305 to $1 Real GDP growth: 3.01 per cent inflation rate: 9.98 per cent.

The proposed budget shows that about a quarter of the sum (N2.14 trillion) will be used for debt servicing while capital expenditure is expected to gulp N2.031 trillion.

See more breakdown below.

Recurrent – N4.04 trillion
Debt service – N2.14 trillion
Statutory transfer – N492.36 billion
Sinking fund – N120 billion
Capital expenditure – N2.031 trillion

More details later…

SOURCE: http://www.nigerianeye.com/2018/12/breaking-buhari-proposes-n883-trillion.html

.



Stupidity at its peak from this government. How is he going to source for the founding when dept its on the rise. China is tired of borrowing us money o

Every Nigerian may owe a million dollars to international debtor agencies before President Buhari leaves office, the way he is going.

Budget of borrowing to service debt and sharing money in the market economy
I spit on whoever had a hand in taking Nigeria through this trashy path in 2015.

optimismlaz:
Nigeria is doomed, debt service is greater than capita expenditure.

..
Mr. Nairaland Economist

optimismlaz:
Nigeria is doomed, debt service is greater than capita expenditure.

And so what?

Ibramamahi:
Debt servicing economy.... little wonder we are were we wear were wea. What am i saying sef

Our breakeven oil price is $140

Oil is $57 as at yesterday,, and has never been above $80 since Bubu took over.

Of course....we had to take loans.

sai baba


Till 2029

Ok. It is noted.

jubrin deceiving nigerians.

iaamxavier:
Budget keeps increasing yearly with little or no impact on our Economy

Imagine using quarter the budget to service debt
This country is a shit hole

2019 just do fast and come

Oil is at $57 as at yesterday,

Our breakeven is $140 per barrel.

We need oil to be at $140 to have a balanced budget WITHOUT borrowing.

Mind you, if PDP was in power right now, I would be making the same argument.

Either we take the hard path of becoming an induistrial nation which means more years of hardship before things get better...or we keep up the illusion of being a rich nation...while oil stays low.