₦airaland Forum

Everfrank:
1. 04/04/2016 is Monday 2. 06/06/2016 is Monday 3. 08/08/2016 is Monday 4. 10/10/2015 is Monday 5. 12/12/2015 is Monday 6. The calendar of 2016 and 1994 are one and the same. 7. The dates and days are the same. 8. Even the festivals are the same. Who said you can't get what you lost 22 years ago?

Interesting

Even when they have many branches, Na their pikin or kinsman dey dey in charge of where money dey quick to fall out eg London, america, south Africa,Lagos, Abuja and port harcourt .

No siddon dey look we dey....

Beautiful

kenkruse:
RELIGION! Opium of the People. if you understand the meaning

Weed of the people lmfao!

All Join

ibedun:
Biafraqueen (I like this name) the trouble is, if you are caught stealing a single kobo, that will tarnish your reputatition and image so much so that all the millions you made from hard work and intellect will be suspect. The non existent bullet proof BMW exposed Maduka as a rapacious THIEF.

He is a big time crook and an accomplice in the crime of treasury looting! He is a THIEF.

I'm a business man, I've seen people come and buy stuff for N50000 and tell you to scribble N65000 on the receipt.
if you don't agree then you don't make sales.
All I can do to protect myself is to make sure the buyer writes stuff like "15000" collected by me...

90% of govt officials are guilty of this, its funny believing someone like fashola dug 2 bore holes with N139 million.

Bros lagos is water land, it will interest you to know that I can dig 140 boreholes for LASG with that amount

Happy for him

cool

she no get chill at all

5th?

yemi and chidinma

Why not enyimba fc, rangers, sunshine fc, wikki tourists et al?

Nice

Tor Shikena

Coscharis Be Anyi...

The hustle for contracts is real....overhaul my foot.

Oya!

Tor Shikena

warrior01:
Thank God he is not from the East, This thread would have reached 7 pages by now. Some people are so disappointed right now.

I tell ya....

switesthart:
Y do they all look like zombies?

That's what they are ; Zombies

Hmmmm....this dude is long

Tor Shikena

donholy28:
still searching for d stun

me too

Issorai

Wishing them all the best

ok

•Spending plan based on oil price of just $38 a barrel
•Government will stick to borrowing limit of 3% of GDP


Nigeria’s government said it will boost spending by a fifth in next year’s budget without overstepping borrowing targets, even as oil revenue in Africa’s largest economy is set to fall.

Under a three-year economic plan approved by the cabinet, expenditure will rise to 6 trillion naira ($30.2 billion), Budget and Planning Minister Udoma Udo Udoma told reporters late on Monday in the capital, Abuja. Lawmakers last week authorized anincrease of 466 billion nairain this year’s budget of 4.5 trillion naira to pay for fuel subsidies and for troops fighting an Islamist insurgency in the northeast.

Africa’s largest oil producer is struggling to cope with a slump in the price of crude, which is the source of 70 percent of government revenue. Economic growth is set to slow to 3.9 percent this year from 6.3 percent in 2014, according to the median estimate of 10 economists surveyed by Bloomberg.

While the budget next year will be “expansionist,” the spending plan is based on an oil price of just $38 a barrel because of “uncertainties,” Udoma said. The crude output target is set at 2.2 million barrels a day, he said. The benchmark price in this year’s budget, approved in April, was $53 a barrel.

All the additional expenditure planned for next year will go toward capital projects, such as infrastructure, rather than recurrent spending on government salaries, which has eaten up the majority of Nigeria’s past budgets, he said.

‘Prudent Budget’

Udoma didn’t specify when the budget proposal will be sent to lawmakers for approval.

The government will try to boost its income by increasing revenue from industries other than oil, cutting costs and improving the collection of taxes and fees, said Udoma


The “level of borrowing that we anticipate and we’re projecting will be well within the maximum that we allow, which is 3 percent of gross domestic product because we want a prudent budget,” Udoma said. He didn’t provide further details about how the budget will be financed.

President Muhammadu Buhari, who won elections in March, said he inherited depleted government coffers and a bureaucracy that multiple probes have blamed for looting billions of dollars of oil revenue. Vice President Yemi Osinbajo said in an interview in October that the government plans tospend its way out of a slowing economy and that an infrastructure fund will be created with public and private financing.

“Our concern still remains on how the government plans to finance this budget,” Olumide Awe and Seun Olanipekun, analysts at Lagos-based Investment One, said in a research note. “The current low interest rate environment suggests the government may borrow locally to finance the potential deficit.”

Exchange Rate

The 2016 budget’s projected exchange rate will be the central bank’s official one, which has fixed the naira at about 198 to 199 per dollar since March, despite the unofficial, or parallel market, falling to a record low last week of 253.

The Central Bank of Nigeria, with Buhari’s backing, has choked off supply of foreign exchange to banks and their customers to defend the naira, even as major oil exporters such as Russia and Colombia have let their currencies slide. The restrictions prompted JPMorgan Chase & Co. to remove Nigeria from its local-currency emerging-market bond indexes, tracked by more than $200 billion of funds, in September, triggering a selloff in the nations’ assets.

“Abuja looks set to record a fairly large fiscal deficit next year, which will likely be financed by increased borrowing,” Cobus de Hart, an analyst at NKC African Economics in South Africa, said in a client note on Tuesday. “Authorities may again decide to foray into international debt markets.

http://www.bloomberg.com/news/articles/2015-12-08/nigeria-boosts-2016-budget-by-a-fifth-even-as-oil-revenue-slumps

cc mynd44, Lalasticlala

I love the Tangle, wouldn't hurt to be a space hog once in a while.
The unraveling knot seems perfect

SurefireAsoOke:
Nice innovation.... Hope it won't be affected by the picture below






For Aso-Oke, Check my signature

Lol! I guess only advanced societies would find these kind of road beneficial