₦airaland Forum

tit:
whom is owing whom?

ENDTIMEISNEAR:
Let them continue blaming Gej till 2019 Uselesss tyrant dictator Buhari and his corrupt apc men has no economic plan to Nigerians . This Clueless Fulani man with no waec certificate should resign

Paperwhite:
He came in & immediately started a travelling frenzy as if he has never entered a plane before wherein he aimlessly wasted our national resources yet he was cheered on by his ass-lickers.Spent millions maintaining fleet of presidential jets he deceptively promised to downsized after ascending power hence adding more to the wastage. Fast forwarded,You foolishly went for a currency swap with China(an obsolete economic policy) & mortgage Nigeria's future Then now you turn around to blame Jonathan? Both Buhari & the APC are really suffering from paranoid delusion.

magmack:
Buhari should do his job or resign.

basilo101:
Obasanjo hired capable hands who helped us exit Paris club, Buhari should do same and stop crying like a baby

kahal29:
[b]
The recurrent expenditure, which has escalated and constituted a huge burden on our yearly budget rose from N950.32billion in 2006 to N1.372.20 trillion in 2008 and N2.593.62 trillion in 2015. This was not created by President Buhari.

Similarly, the total cash call (oil production cost) which rose from about N200 billion in 2006 to about N1.2 trillion in 2015 was not a creation of President Buhari. The cash call has remained another tale of burden on our yearly budget. Statutory transfers including that of the NASS are not left behind. Statutory transfers rose from just about N100 billion in 2006 to N375.62 billion in 2015. President Buhari was not the President then.

Debt servicing also rose from about N300 billion in 2006 to N953.62 billion in 2015. These expenditures have over the years constrained the budget and made it difficult to channel sufficient funds towards productive sectors that can sufficiently grow the economy. Domestic borrowing also skyrocketed during this period and created devastating consequences on the economy.

Government at that time continued to mop up money from commercial banks at a rate considered one of the highest in the world, while the real sector is left with nothing. And even when they were able to access funds, it came with an unbearable interest rate. President Buhari met this situation on ground. He did not create it, but is doing his very best to take us out of the economic quagmire. We should all support him.[/b]

eleojo23:
Of course he will not blame Buhari because doing so would mean admitting his regret for voting in this clueless government.

Just like some high ranking members of the Zombie kingdom on Nairaland.

Their pride won't let them admit it.

ADAMUdaCOWBOY:
In Nigeria we don't talk about cause, we only talk about effect. The average Nigerian does not have an analytical mind. If today the price of oil experiences a sudden up surge and buhari starts to spend wantonly, he will be a hero, even if no refinery is built, we will celebrate. If he opens our boarders so that rice floods in from Thailand to the benefit of Thailand and to the detriment of local farmers, we will celebrate. Well, Nigeria needs tough times like this to wake up, we need it for local factories and manufacturing industries to be birthed and thrive. I hope we learn in the end though, because I know how impervious we can sometimes be to wise instruction.

sunnyside16:
I don't think the FG can "force" state govt to do their bidding. But after all said and done, the monies goes to oblivion, we never get to see the impact just like the TSA

Inspectahdeck:
“So far, the federal payroll has been rid of about 40,000 ghost workers. More than eight billion naira stolen monthly has been saved.”

Do they call it saved? When it doesn't reflect in the economy. I call it managed funds.

Well good development.

Xapio:
Who wouldn't love the genius' government? ... When you become a millionaire with just $2,500 ...

tno4real:
Can u see foòls in action, you are happy that your countrylazy people isare sinking...mumù pple

tiwiex:
Haba bros. Buhari has to be better than you. Your appriach of sending people back home is so lame and archaic in thinking. Economic models change just the way we use email now and dont do post office. Same with economics. Remmitances was about $20b jusr over a year ago. I havent verified recent records but this post says $5b. That is the money all the people u want to send back send home every year. By the way, our annual budget at 300 to a $ requires $20b. It tells us that these people u villify so much contribute to ur stable economy more than oil. Before u say it is unsustainable, $20b into any economy? I would encourage more to travel sef. Also, India makes more money from remmitances than their popular IT industry. What I observe is that Buharis government wants to sow where they did not reap. They want dollars from work that does not concern them directly without considering d positive impact on d economy. In the process, they discouraged people from sending money home further hitting our dollar market.

You really didn't respond to the question other than talk about how our economy defies logic. It actually has logic. The model just changes which is why Nobels are awarded to the scholars and economists who observe these ecolving trends. It is this basic lack of understanding economics that got us here. One of the rules in economics is simple "if the decision makes u better off by even 100 naira, then do it" if not, leave am. These decisions were not thought through at all. this government just assumed money was flowing without considering d individual incentives making it so. They killed these incentives and are confused. The thought of getting free dollar from oil was all that was on their mind. When it did not happen, the panicked and started attacking all possible sources without thinking thru. Ghana is stealing our markets by the way. Keep blaming GEJ and Oil.

aresa:
Our non oil revenue actually almost doubled from last year's number...

Take your kabukabu story back to where you get it from....

Back to sender...

He said, “We have about $10bn stuck in one country or the other earned by our members. Some of them are not manufacturers; some are agriculturists or merchants of different products.
“They cannot bring it in because the business confidence, the manufacturing confidence, industrial confidence is negative. Until we do something to boost this confidence, all this money will be stuck abroad.
“Even Nigerians that are living in the Diaspora were able to bring in $23bn in 2013. Last year, we saw about $5bn; this year, it is going to be less than $3bn. This is what negative confidence can do to an economy"

princemillla:
I understand ur point bro
But the govt isn't really helping matters. We are not asking for too much but an intervention to aide us from this starvation.
The govt should come up. With a policy that will defend hunger in the land. If there is anything FG wishes to do, Nigerians don't care as long as it doesn't affect feeding.
There are many items we r not producing here that has been banned, and since custom are generating money now, it should be lifted. Atleast this will also bring more money