₦airaland Forum

Bodexman:
The national Assembly should go on lockdown for a year. Let them find jobs or return to their businesses for now. The expenses they rake is too much and there's no money for now.

You can't be putting on agbada well starched & iron and the people you claim you're representing are suffering.

Let's see down and face the glaring reality before us. We can't continue like this.

FG discloses how it will finance N5.36 trillion budget deficit
FG intends financing the N5.36 trillion budget deficit through domestic, foreign loans and proceeds from privatisations.



Federal Government of Nigeria has said that it would finance the N5.36 trillion budget deficit through domestic, foreign loans and proceeds from privatisations. This was disclosed by the Minister of Finance, Zainab Ahmed after the Federal Executive Council meeting on Wednesday.

The Minister told Reuters that the cabinet approved a revised budget of N10.52 trillion at the meeting, against the N10.59 trillion approved earlier. Ahmed added that expenditures related to COVID-19, which was not included in the budget, has been added to it.

The revised budget, which requires the approval of the National Assembly, was based on assumption that crude oil price would be at $25 per barrel, the output of 1.94 million barrels per day and an exchange rate of N360 to $1.

Meanwhile, it appears the government has changed its mind over budget reduction, as it acted differently from what it said about two months earlier. The finance minister had said in March that the N10.59 trillion budget would be reduced by 15% due to the global oil prices crisis, which is about N1.58 trillion. But Ahmed announced only a reduction of N71.5 billion only.

READ ALSO: Buhari administration on track to double Nigeria’s fiscal deficit


“It is not good to keep on borrowing on a yearly basis to finance deficit budget when a lot of very valuable national assets are lying fallow and moribund. Proceeds from outright privatisation or concession of the moribund assets should serve as the best alternative in funding yearly budget deficits since the assets are more or less becoming national liabilities.

“There are about 600 state-owned enterprises in the country which gulp not less than $3 billion on a yearly basis with little or no returns into the public purpose,” he said.

https://nairametrics.com/2020/05/13/fg-discloses-how-it-will-finance-n5-36-trillion-budget-deficit/

GodPunishBiafra:
Is that why IPPIS keeps cutting people's money?


January, salary was 210k,
February = 193k
March = 184k
April = 167k

All this cutting done with impunity...

Bodexman:
The national Assembly should go on lockdown for a year. Let them find jobs or return to their businesses for now. The expenses they rake is too much and there's no money for now.

You can't be putting on agbada well starched & iron and the people you claim you're representing are suffering.

Let's see down and face the glaring reality before us. We can't continue like this.

Creamychris:
Good morning please... are an academic or non academic staff? I have not received any credit alert for April salary payment.

AsawanaDgreat:
As usual, you people will borrow the rest from China to finance the budget.

LibertyRep:
If the kids are so hungry that the government has to feed them, it implies that their parents are poor. Shouldn't a responsible government be thinking of how to lift these parents out of poverty so that they can feed their kids themselves?

With a start up of 50k, the #670m will be able to raise13400 petty traders DAILY! who will in turn be able to cater for their kids. In a month, about 400 000 people would have been touched. Whatever the Government gets in repayment would be used to cater for new beneficiaries until it goes round.

Isn't this better than the controversial and possibly corruption-ridden feeding program?

If the NASS failed to arrest this situation, I will conclude that they are complicit in this mismanagement of our scarce resources.

Phonematters:
Why is that even the truth sounds like scam in this country ?

LibertyRep:
If the kids are so hungry that the government has to feed them, it implies that their parents are poor. Shouldn't a responsible government be thinking of how to lift these parents out of poverty so that they can feed their kids themselves?

With a start up of 50k, the #670m will be able to raise13400 petty traders DAILY! who will in turn be able to cater for their kids. In a month, about 400 000 people would have been touched. Whatever the Government gets in repayment would be used to cater for new beneficiaries until it goes round.

Isn't this better than the controversial and possibly corruption-ridden feeding program?

If the NASS failed to arrest this situation, I will conclude that they are complicit in this mismanagement of our scarce resources.

AsawanaDgreat:
As usual, you people will borrow the rest from China to finance the budget.