₦airaland Forum

Geniro:
Zombie identified.

Yes, yes.

We smelled you coming from afar.

adisarasaq:
I know this will happen since i read it yesterday, they are always looking for way to castigate this government. The prof is talking about our budget system entirely not just this one.

Exactly.

They were caught napping by PMB with an unprecedented budget the likes of which PDP had never seen during all the oil boom years.

They cannot fathom how PMB did it without much oil money.

They look at 6 trillion and wail that not a kobo will they benefit, as against when their rapacious appetite ate budget after budget.

They also sense their doom in this budget, as there's hope for Nigeria.

If 50% of this budget is implemented, it'd still be bettter than their misadventures.


Seeing APC has the financial possibilities of implementing some of the promised change, PDP is jittery.

If PMB implemented the budget and Nigerians are happy, through what cracks would PDP infuse their odorous propaganda?

Suddenly 2019 is looking not so good for them.

jstriker442:
u say we shud borrow, hw do we pay ??

'' dwindling oil prices ''

Like I keep saying, other sources of funds are picking up.

The most inspiring thing about the budget is not the total amount being higher than ever, nor the hefty capital vote, or the zero based philosophy.

It's actually the fact that for the first time ever, oil revenues are less than 15% of the budget.

What does that mean?

It means there's life after oil after all. And it also means PMBs corruption war is working. In just 7 months FIRS, Customs and other revenue generation agencies are finally shedding corruption and working.

Hopefully by next year the non oil component will rise, and perhaps other sectors would make some input into the pool.

anonimi:
I thought he also shared two SUVs and $300,000 with Sai Booboo, not so anymore



www.nairaland.com/attachments/3209654_emmy20151220190316_jpegc47d052d19c3ecab65ee8172a4d0da23

I've not seen anywhere Dasuki himself said he gave PMB money, beyond the rumors swirling in papers. The onus is on Dasuki to prove it, the way FG proved Dasuki did share out millions to PDP.

Secondly, yes PMB did collect 2 armored vehicles from the NSA. All former heads of state are entitled to such vehicles, and the NSA is the only official constitutionally empowered to license all armored cars in Nigeria. The ONSA traditionally provides such vehicles to all former HOS.

Thus, there's no crime committed by PMB in collecting his dues, especially as PDP earlier wrecked his SUVs when their footsoldiers attacked him in kaduna.

djkirkoo2:
Buhari is yet to borrow? like seriously? Grow up papa bornboy

Shush!

Grown men are talking.

Shut up and listen, or crawl back to the gutter from whence you were adopted, vermin.

fasho01:
I agree with most of what you've stated out. I just hope there is a sincere will to do the right thing. Indeed we all hope for a better Nigeria and pray things work out well.

Amen.

yanabasee:
From your analysis, you didn't consider TIME.. How long will it take Buhari to smoothen every hardship?

Why are we asking this question 7 months into a 4 year term? This government will officially take off once tha budget is passed, since that's effectively the time its programs can be implemented.

If GEJ couldn't fix the mess in 6 years with oil at over $100, I wonder why we place so much expectation on PMB barely 7 months in with oil at less than $40.

yanabasee:
Venezuela borrowed about $1.5billion and was said to pay back in 2016 using OIL. But as the oil price is decreasing it's going to be very difficult for Venezuela to meet up with it's debts.

Venezuela used its oil revenue as a bulwark. Nigeria is projecting non oil incomes as payment mechanism.

yanabasee:
The (to be) loan cash is not going to be used to invest on other section of the country's economy....

Really?

Out of about 2 trillion to be borrowed, 1.8 trillion is going to capital expenditures.

Last year with all the borrowings, only 557 billion went to capital.

fasho01:
The truth is we don't need more borrowing to improve the
economy and better the lives of ordinary people

Yes we do. Our main revenue stream, oil, has gone down.

fasho01:
as evidenced between 2007 & 2015

Actually that's the period we even had our highest borrowings. We borrowed to fund recurrent consumption, we borrowed to pay salaries, we even borrowed ostensibly to fund the war against BH but ended up being largesse to PDP via Dasuki. And this borrowing was against a backdrop of rising oil revenues.

fasho01:
and in truth, if the the crop of people that now constitute the FG had allowed fuel subsidy removal, we wouldn't have been deep into this economic mess as we are in now.

It was the organized labor and virtually every Nigerian that resisted subsidy removal, mostly because of the duplicity of FG and poor presentation of the deal. Also, subsidy was partially removed by GEJ and the savings seemingly ploughed back into Sure P, only to end up doing absolutely nothing and the funds vanishing into thin air.

fasho01:
For me, it's not about political party or about whose regime we accumulated a massive pile of debt. All I'm interested in is what will be good for us collectively and I think yet more borrowing is not the way forward.

Our main source of revenue is dwindling, our income-generating agencies are rife with corruption, our economic system is consumption based, our government structure is bloated and parasitic. Our civil service is vast and unproductive.

Tell me how we can sustain or even develop this system without funds. Where the only option is to borrow, shouldn't we, as long as the will is there to do the right thing?

Let's be optimistic about PMB's intentions. We all hope for a better Nigeria. But we won't get it if we all decide to be armchair cynics and critics hoping it all fails.

If he does fail, then by all means he shall bear our wrath. But until so, we owe Nigeria our hopes and prayers, because win or lose...it affects us all.

kodded:
you guys have not answered my question

according to that dulllard of a president, Jonathan left him with a empty treasury and nigeria is broke


so where will the money come from

remeber he will also pay N5000 to the 25 million vulnerable Nigerians In 2016

Don't you understand how a budget works?

We're selling oil daily, collecting taxes, fees, fines and levies daily. Come on, it's in the presentation where all the funds are coming from. Oil is less than 15% of the income, which is a good sign the non oil revenue streams are picking up.

Were you under Obiora's skirts during Econs 101?

yanabasee:
And come 2016... The oil price is predicted to reduce to $15 per barrel and this will be very difficult for Nigeria with the said debt (loan) that Buhari will incur upon Nigeria...with the hope of paying back using "OIL" as our ONLY source of revenue.

This will reflect exactly what Venezuela is passing through right now.....

How can a President who took an oat to protect the people and make life easy for them, tell the people that NIGERIANS WILL EXPERIENCE HARDSHIP COME 2016. It shows that, this administration has NO economical plan(s) or whatsoever to redeem us from any hardship...

No jobs anymore, the little companies around have been reducing their staffs and even federal/state government staffs are owed. What is going on?

Let's use you as a case study to answer your question:

You've a large family. You've got to feed them 3 times a day, pay school fees, utilities etc.

Let's say you earn 100k a month. but of this you can only save 1k every month after meeting your obligations.

But lately your employer is having some financial problems due to poor sales, and your salary is cut down to 30k.

Obviously this cannot even pay your transport to and from work.

Thus, you brainstorm on your fate, and hit the brilliant idea to farm the little piece of land in your compound and also open a small kiosk for your wife in order to supplement your income.

Now remember, you need farm implements, seeds, water hose etc. You also need to buy wood, aluminun, nails etc to construct the kiosk. Then you need to buy stock.

And all you've is 30k. And your family still needs to feed.

Therefore, the only option before you is to borrow enough to feed your brood, get your farm and shop going. Hopefully, both ventures would be successful enough that you won't need to bother much with your dwindling salary.

The above is a very crude and simple way of realizing that in order to develop other revenue streams to supplant oil, Nigeria must spend.

We don't have the cash to do much. Thus, we've to borrow.

Every one borrows, even the US. The problem was that all these years government was borrowing not ro invest in infrastructure, but to sponsor its gargantuan luxury hunger.

We borrow to consume. All those jets and yachts and cars and girls cost money.

Also, the amount PMB is borrowing is still many percentage points lower than the GDP. That's a healthy ratio.

Mr Motor Mouth at it again.

Unemployment is eating away this man's already diminished sense.

kodded:
concerning the 500 000 teachers


let me say each teacher wll receive N50 000 a month



N50 000 × 12 months (1 year) = N600 000

N600 000 × 500 000 (teachers) = N300 000 000 000





am I the only one who believe that this project is as unrealistic as the N5000 promised to the unemployed youths

Yes you are.

If Dasuki can share out N500,000,000,000 in dollars to PDP and Diezani stole 2,000,000,000,000 without the country grinding to a halt, of course the money can be paid. Heck, Ibori alone stole more than that amount.

How dare he give them rice without chicken?

Eyya.

Kpele.

GEJ owes you and he's gone.

If only you had Dasuki's phone number.

So while you're covertly enabling APC to boot out PDP, you were equally sharing obscene millions to PDP to remain in power.

So to which party lay your loyalty?

This man ought to be shot.

INTROVERT:
Mr. Good luck, cool as you like, cool as a cucumber.

Dumb as one, too.

DropShot:
That you were paid on 15th or even 10th at some point didn't make it your right at at those dates. You only enjoyed magnanimity of your employers then and perhaps things were very rosy for them. What do you mean by the bold? It makes no sense bacause we can as well argue that the employee should be paid his yearly wage in January since he will eventually do the work. It is not alled "monthly salary" for no reason.

Dolt, contracts are different kettle of fish. Contractors get mobilization fees as per contract agreement and get paid based on progress made as per letters of the contract. Do you live from hand to mouth that's making you want to kill yourself on top the matter?

Never argue with zombies.

You're better off talking sense to a brick wall.

ayemerbarth:
This guys travel abroad on the permission of those atm holders copy their pin, withdraw dollars, stuff them in his luggage and return to Naija to sell in black market. That is why only abokis ll ve dollars even when the CBN has none. Only a genius ll understand this.think of this. If you can withdraw 500,000 dollars with the help of various atm at an official rate of 199 naira to a dollar in the states come back to naija sell at 270 in black market that is 35million profit.

You can't exit and enter either country with that much cash.

Babzrockman:
Am staying in airport road kano. Am looking for my Gtbank ATM. May be he wants to hack those cards in Dubai. Then return to Nigeria and begin to scatter areas.

Nope.

Two possibilities.

1. He's an importer, or represents one, who wants to beat the dollar crunch by opening many accounts just to buy goods offshore.

2. He's fronting for some looters who use multiple accounts to transfer their loot offshore by using the debit cards to withdraw local currency abroad and stash same in foreign accounts.

fasho01:
Although coming from a man known with much talking, there is an element of truth in what he's saying, laced with facts. Let's just be optimistic that our economy will be diversified and the budget will work.

Where's the truth?

He even indicted his own party when he said as at 2007 Nigeria was debt-free. Between 2007 and 2015 the country has accumulated a massive pile of debt.

Well, buhari just came on board and is yet to borrow a kobo.

All the borrowing was by GEJ.

VintageCocktail:
Obsessive compulsive disorder is a serious mental illness whereby a person often have obsessive thought and then acts on the thought continuously and repeatedly.

And that's the mental illness that the igbos are suffering from: obsessively thinking about breaking free from Nigeria and repeatedly acting on the thoughts with negative results.

This article's title is misleading.

The prof made his comments before PMB even presented the budget, and all he "slammed" was the entire historical budgeting process and implementation in Nigeria, not PMB's budget.

Sensationalist OP.

NgeneUkwenu:
Well tested hands like the hands Of Dasuki, Dokpesi, and Deziani Mmadueke??

PDP is just a Useless and Moronic party controlled by touts..

Just Take A look at the Useless faces behind the Moronic party!

Why is everyone looking so downcast in the first pic?

obaiIaIa:
Niger Delta money...chai

Income from oil is not up to 15% of the budget.

cao:
Wow, I see the parrot's feathers have been ruffled. Anywho parrot away Mr. Parrot.

teehee!

cao:
You appear to enjoy repeating other people, I didn't know you were a parrot. We appear to have a parrot on NL, apparently NL really is the place to be. Anywho, break's almost over.

Petty tyrant!

Think i'm scared of your being a "mud"?

I've been active in the games section since 2005, when you were still crawling in your diapers with fellow rugrats being awed by your colorful Lego.

Search Neoteny and see for yourself.

I've survived Seun, I'll surely survive an insipid little upstart.

Careful how you wield your powers else you hurt yourself.

cao:
Technically, I could police you in this section, but I'm on my lunch break...

NWA says...fucck tha police.

signz:
666

I'm feeling sorry for the four-hundred-and-nineteenth person.

jcmaiah:
Its wickedness to even produce that drink! I am aware the true worth of that drink no pass £100.

You're even generous.

£2 for the empty bottle

£5 for chardonnay grapes

50p for a handful of yeast.

50p label

£8 total.

thisisayus:
OK, na to dey condemn CVS all the goddamn time!
Person way go employ u go employ u. I know someone who has never prepared a cv yet she's working with a bank after 1month of graduation.
So save me the bullshit!

Absolutely true.

All these are delay tactics, they get you so worried about how your CV looks you spend more time working on the perfect CV and less time looking for actual work.

You worry about the font, the line spacing, bullet points, indentation, whether you can fit all content on one page, spelling errors, etc.

Meanwhile, while you're worrying over your CV, about 20 incompetent arseholes with sloppy CVs and good connections have been employed.

oduastates:
Many people dey fall my hand.
Ekwesili is even using Russia as example.
That is a country with over 12 times the landmass of Nigeria. a country as scientifically and technologically advanced to rival any on the planet.
Russia has the Base to produce most of what it consumes ; if not all.
All they had to do is reduce or restrict imports and look inwards.
Honestly speaking, the Nigerian non-economy built on the foundation on corruption need to be dismantled first and rebuilt.
In a country with this much poverty, can anyone explain why prices rival those of more advanced and richer countries?
Is it not for this bogus illusion of wealth that smaller and poorer countries are able to build better infrastructure for less.
Yesterday, one person was complaining on twitter that he could not pay his children tuition oversea because of the restrictions.
I was like, are these guys for real?
I support the restrictions they are in order.
Look inwards.
It seems to me that most are not even aware of the dire strait Jonathan and Iweala left the country and what is about to hit them if oil prices continue to fall.
Obasanjo avoided those reckless policy prescriptions from the worldbank and IMF, Knowing fully well that the Nigeria would either be used as a dumping ground for poisonous chicken or the excess that cannot be sold at home by advanced countries or used by developing ones as an experimental ground on their way to the first world.
Mass corruption,reckless increase in the size of the government and foolish government policies leading to the enlargement of the appetite of the country for foreign imports.
Guess what, the per capita money coming from the Niger delta and diaspora keeps shrinking year by year and cannot pay for that appetite.

Exceptionally good points.

Russia doesn't just rely on oil. It also exports food, gas and weapons.

cao:
Wow, that's new...

"You cannot police me, so get off my areola"