.

DID U PEOPLE SEE WHAT I SAW IN THE PICTURE? WHY THE PERSON BEHIND PRESIDENT BUHARI WAS SMILING? HW WAS HAPPY BECAUSE HE HAS CALCULATED THE MONEY THAT HE WILL EMBEZZLE.. STUPID MAN

Few days to inauguration.

See that guy behind Mr President smiling......

"Chai! I go chop money walahi"

They should give us a breakdown... We need to know how the money is spent

akinhanger:
President Muhammadu Buhari has signed the 2019 Appropriation bill of N8.91 trillion into law few weeks after it was passed by the National Assembly.

The budget consists of N4.65 trillion recurrent expenditure, N2.94 trillion capital expenditure, statutory transfer of N502.58 billion, N2.25 trillion for debt servicing.

Hold up.
So almost 50% of the budget is recurrent expenditure and what is left of that, another almost 50% goes towards repayment of debts.
So only about 25% of the initial N8.91 trillion is going into development of this country if I'm not wrong.
No wonder we are f***ed in this country.

Can somebody reasonable whisper to Aisha Buhari, to quickly help us do the needful before this ole behind him start sharing at will, since they said the vampire can't hear or understand again.

2019 budget for June. Okay

2019 budget in June.

Bunch of eediots

See the elders of fools!

Their maga don pay

Nigerian politicians, crazy set of people..


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Let the looting begin!

It is very bad N8.9 trillion budget is very low. This is approximately N47089 per Nigerian annually if we live in an equal society. Nigeria need to stop depending on oil and look for other forms of resources. The Northern States and less performing states need to boost their economy and stop relying on Federal allocation. We are living in a ticking time bomb

Uncleodi:
Good.

At least, no reason not to hit the ground running after 29th May.

Budget ought 2 have been signed since January

What a budget! This is a sinkhole.

cooltola:
It is very bad N8.9 trillion budget is very low. This is approximately N47089 per Nigerian annually if we live in an equal society. Nigeria need to stop depending on oil and look for other forms of resources. The Northern States and less performing states need to boost their economy and stop relying on Federal allocation. We are living in a ticking time bomb

U made very valid points, but considering d size of d budget, no amount of money is ever enough. For us in this part of d world, poor budget implementation has always been d failure of budgets

What exchange rate is used in calculating the crude oil earnings part of the budget? The official rate of 305 or the investor window rate of about 360?

If it's the official window rate, that means the country is losing N59 on every dollar sold if you deduct the investment window rate from that of the official.

So, if the oil earning portion is $20bn, that means the government is losing $20b x59 = N1.18 trillion naira!

This is collosal amount just thrown away because Buhari does not want the 2 rates to merge.

I laugh when people say Buhari is prudent. A bad policy doea and can do far more damage than corruption. The foundation of a lot of corruption itself are bad policies.

Even this exchange policy promotes lots of corruption in the form of round tripping. A well connected personality simply buys forex at the official exchange rate and sells it at the investor rate. It is a huge source of corruption in this government. That is just one of the reasons why the country's corruption ranking barely budged from that of the Jonathan era.

30% capital..

We are getting there slowly but surely..

God bless my president. ...continue your good work sir.

grandstar:
What exchange rate is used in calculating the crude oil earnings part of the budget? The official rate of 305 or the investor window rate of about 360?

If it's the official window rate, that means the country is losing N59 on every dollar sold if you deduct the investment window rate from that of the official.

So, if the oil earning portion is $20bn, that means the government is losing $20b x59 = N1.18 trillion naira!



This is collosal amount just thrown away because Buhari does not want the 2 rates to merge.

I laugh when people say Buhari is prudent. A bad policy doea and can do far more damage than corruption. The foundation of a lot of corruption itself are bad policies.

Even this exchange policy promotes lots of corruption in the form of round tripping. A well connected personality simply buys forex at the official exchange rate and sells it at the investor rate. It is a huge source of corruption in this government. That is just one of the reasons why the country's corruption ranking barely budged from that of the Jonathan era.

Go and sit down..

Nobody can buy FX for N305 Naira...

Only banks buy FX for a maximum amount of $500k per day for all banks..

lexy2014:


U made very valid points, but considering d size of d budget, no amount of money is ever enough. For us in this part of d world, poor budget implementation has always been d failure of budgets

There is no population control in some states. Some states can't even generate N100 million annually which is very bad. This is the the problem when you have too many states e.g Zamfara State. Our budget cannot avoid 36 states. It is costly and not smart. Some small states should be aborbed by bigger state to eliminate cost and save money.

akinhanger:
President Muhammadu Buhari has signed the 2019 Appropriation bill of N8.91 trillion into law few weeks after it was passed by the National Assembly.

The budget consists of N4.65 trillion recurrent expenditure, N2.94 trillion capital expenditure, statutory transfer of N502.58 billion, N2.25 trillion for debt servicing.

In his remarks after passing the budget, Senate President Bukola Saraki praised the committee and fellow senators for their contributions to the passage of the bill and tasked executive to ensure its full implementation.

He said: “I want to thank our colleagues, particularly for their understanding and for us to be able to meet today’s deadline in passing the bill and (I) thank the Committee on Appropriation too.”

“I hope that with this budget passed, the Executive will also ensure the full implementation of the budget for the benefit of Nigerians as a whole.”

https://www.nairalink.fun/2019/05/Just-In-President-Buhari-Signs-2019-Budget-Of-N891trillion.html

BUDGET THAT IS BASED ON CRUDE OIL MENTALITY.

It is a shame that NORTHERN NIGERIA can not contribute financially to our national treasury 50 years after the British gave us Independence and left the rulership to Nigerians.

sometimes I wonder if these leader's think at all, how can I allocate #4tr to recurrent expenditures and #2tr to capital expenditures?
so they don't know that we don't need to be servicing unproductive men and women in the name of political aides again in this country?..... SMH

Alihamdulillah, the budget will be a source of succor and goodness for the commoners.

From billions to trillions yet the situation of the country is getting worse

budget of incompetence

usual crap.... #all Motion, no movement!