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Politics / Re: Mrs. Buhari Will Vote For Jonathan - Obasi by yesir: 8:25pm On Jan 17, 2015
temitemi1:
God forbid n Nigerians also forbid buhari rule in Nigeria... GEJ till 2019!!!
you are a fool........

1 Like 1 Share

Politics / Re: Reason President Jonathan Visited Maiduguri by yesir: 6:57am On Jan 16, 2015
temitemi1:
Dem sey him no go d place but now him don go dem still dey talk... GEJ ride onnNnnnnnnnnnnn...
let him visit Chibok. ..period
Politics / Re: February Poll: Jonathan Angry With Ministers, Aides Over Apc’s Attacks by yesir: 7:17am On Jan 10, 2015
dre11:


http://thenationonlineng.net/new/february-poll-jonathan-angry-ministers-aides-apcs-attacks/
INEVITABLE CHANGE;

We must VOTE rightly in 2015.

If SOMEONE is;

J = Just
O = On
N = Negative
A = Assignments
T = To
H = Harm
A = All
N = Nigerians

THEN we must also find someone who will

B = Bring
U = Us
H = Hope
A = And
R = Remove
I = Incompetence
CHANGE in 2015...is inevitable.

Pls be patriotic and send to others.

13 Likes 3 Shares

Politics / Gmb's Age Issue by yesir: 2:46pm On Jan 07, 2015
Dele Momodu
The Publisher of Ovation
Magazine, Mr. Dele Momodu, says
the All Progressives Congress
presidential candidate, Maj.Gen.
Muhammadu Buhari (retd.), is not
too old to be the President of
Nigeria.
Momodu said in a series of
messages on Twitter on Tuesday
that when the late sage, Chief
Obafemi Awolowo, contested in
the presidential election in 1983,
he was 74 years old.
He added that when the first
Premier of the Eastern Region, Dr.
Nnamdi Azikiwe, contested the
1979 election, he was 75.
He, therefore, wondered why
Buhari, who is 72, was being
victimised.
Giving further examples, Momodu
said former United States
President, Ronald Reagan, was 70
when he emerged President in
1981 and served for eight years
till he was 78.
He told his followers on the social
media site that age was not a limit
to good leadership.
He said, “In 1983, Chief Obafemi
Awolowo contested at the age of
74 while Chief Nnamdi Azikiwe
contested in 1979 at the age of
75. Why is Buhari different?
“An actor, Ronald Reagan, became
the American President at the age
of 70 and served two terms of
four years each and then retired at
the age of 78.
“I used to worry about age but I
am convinced that leadership is
about responsibility and the old
and the young could be good or
bad.
“Moraji Desai became the Prime
Minister of India at the age of 81,
Atal Bihari Vajpayee at the age of
74 and they demonstrated great
wisdom in nation building.”
Politics / Re: Rivers State Prepares For APC Presidential Rally. by yesir: 4:53pm On Jan 04, 2015
temitemi1:
Waiting for ur stage drama with ur general without certificate grin grin... Come feb ameachi go run comot for Nigeria... GEJ till 2019!!!
... TemiTemi1, stop giving urself hypertension. ..GMB2015

3 Likes 1 Share

Politics / Re: I Consulted Pastor Adeboye Before Accepting To Be Buhari’s Runningmate- Osinbajo by yesir: 4:37pm On Jan 04, 2015
temitemi1:
U are nt a stooge but a very stupidy LACKEY... GEJ till 2019!!!
TemiTemi1-u need deliverance from d oil theft u are into
Business / Re: Oil Slump: FG May Borrow From World Bank, Others by yesir: 1:57pm On Jan 02, 2015
correctguy0900:


go bk to history and check d inflation rate at d time GMB assumed office and when he exited.
I see you a a FoooooooooL, cos u want use inflation rate to divert d issues at hand. I see u gaining from this corrupt govt.... just zip ur mouth if u dnt hv anything to say. . big fool
Business / Re: Oil Slump: FG May Borrow From World Bank, Others by yesir: 1:46pm On Jan 02, 2015
Ayekotoo:
Buhari came in 1983 to kick out a clueless civilian govt that was sailing the ship of the country towards a water fall. He did miracle in just 20 months. Now he is coming again as a civilian president to resue us from this financial terrorist called Ngozi Okonjo Iweala. 2015 will be like 1983 again.
A nation that budget of almost 90% recurrent expenditure in the current 2015 fiscal year MUST borrow. they should not deceive us that the loan is for infrastructure development but POLITITIANS' DEVELOPMENT. .. a visionless. leader and financial terrorist

1 Like 2 Shares

Politics / Re: The Trouble With The Buhari Manifesto BY ABIMBOLA ADELAKUN by yesir: 4:36pm On Jan 01, 2015
temitemi1:
GEJ till 2019!!!
TemiTemi1, stop deceiving yourself. ....if. you are currently gaining from d loot stop deceiving us...I beg of you

1 Like 1 Share

Politics / 2015 Budget: President To Spendn456.98m On Honoraria by yesir: 10:38am On Dec 31, 2014
2015 budget: President to spend
N456.98m on honoraria
DECEMBER 31, 2014 BY NIYI
ODEBODE AND EVEREST
AMAEFULE
82 Comments
President Goodluck Jonathan
The Office of the President will
spend N456.98m on honoraria
and sitting allowances in 2015.
This is different from the N348,
342,741 projected to be spent by
the State House on honoraria and
sitting allowances during the same
year.
Details of the 2015 budget
proposals obtained by The PUNCH
in Abuja on Tuesday also show
that the office of the President will
spend N1.93bn on travels and
transport.
The document is not specific on
who can receive honoraria but the
President plays host to former
Heads of State and governors who
make up the Council of State.
It was also learnt that honoraria
could be stipends paid to
members of committees set up by
the government.
There was no provision for
honoraria for the office of
President in the 2014 budget
proposal but the State House
received a provision of N320,
222,500 for it and sitting
allowances.
The breakdown of the expenditure
on travels and transport shows
that the office of the President will
be spending N1, 306,834,350 on
local travels and transport and the
sum of N621, 067,913 on
international travels and transport.
The travel bill of the President for
2014 was higher than the
provision for 2015. The 2014
budget made a provision of N2,
378,862,017 for the Office of the
President for local and
international travels.
For 2015, it is N1,927,902,263 for
local and international travels.
For foodstuffs/catering materials
supplies, a provision of N142,
472,537 was made for the Office
of the President.
The 2015 budget proposal
includes a provision of N131,
911,315 for fuel and lubricants for
the State House.
The breakdown shows that plant/
generator fuel will consume N35,
344,855; motor vehicle fuel, N85,
843,802 and cooking gas/fuel,
N10, 102,858.
For 2014, the State House
received lesser provision of N122,
855,267 for fuel and lubricants.
This was broken down into motor
vehicle fuel, N79, 950,407; plants
and generators, N33, 476,963, and
cooking gas/fuel cost, N9,
427,898.
A provision of N60, 847,647 was
made for the Office of the
President for advertisement and
publicity.
For the State House,
N287,514,283 provision is made
for welfare packages;
N174,537,975 for refreshment and
meals; N215, 635,715 for
foodstuffs and catering services;
N31,582,475 for medical
expenses; and N35,495,233 for
publicity and advertisement.
As of press time; it could not be
ascertained whether these
provisions would be reworked
downwards to reflect the austerity
measures announced by the
Federal Government to enable the
country to glide through sliding
prices in the international oil
market.
Coordinating Minister of the
Economy and Minister of Finance,
Dr. Ngozi Okonjo-Iweala, had
while presenting the 2015 budget
breakdown, announced additional
measures to check the
consumption pattern of Nigerians.
She explained that the measures
would commence from the
beginning of the second quarter
of 2015 and would considerably
boost the ratio of non-oil
revenues to oil revenues.
Giving details of the measures and
how much they will contribute into
the nation’s treasury, she
explained that the government
intended to generate more
revenue through the strengthening
of tax administration.
This, she said, would be achieved
if the better-off in the society
contributed a bit more towards
easing the pains felt from the
economic crunch.
As a short term measure, she said
a 10 per cent import surcharge
would be imposed on new private
jets. This is estimated to yield
about N3.7bn revenue for the
nation in 2015.
Similarly, the minister explained
that 39 per cent import surcharge
would be imposed on luxury
yachts which is estimated to
potentially raise N1.6bn in 2015;
while another five per cent import
surcharge would be placed on
luxury cars and this is estimated
to yield about N2.6bn of
additional revenue.
In the same vein, she said a
surcharge on business and first
class tickets on airlines would be
imposed on travellers. She
however, did not stipulate the rate
to be applied for this class of levy
and how much it will generate.
Others are the imposition of three
per cent luxury surcharge on
champagnes, wines and spirits
expected to generate about
N2.3bn in 2015; and a one per
cent mansion tax on residential
properties within the Federal
Capital Territory with a value of
N300m and above.
This property tax for luxury
building within the FCT, according
to the minister, is estimated to
yield additional N360m.
All these surcharges, she noted,
would yield a total of about
N10.56bn in 2015.
She had said, “We should see
these challenging times as times
of opportunities to further move
this economy on the right path.
“Luckily, this administration had
taken to diversification seriously
and had begun to make inroads
prior to this time.
“The non-oil sector, whose growth
has averaged about eight per cent
in the last few years, is the
primary driver of growth in the
economy unlike the oil sector
which is actually contracting.
“In the short term, we are
determined to improve tax
revenues not by increasing tax
rates as many have advised, but
rather as a pro-people
administration, by strengthening
our tax administration.
“We aim to plug leakages,
increase the tax base and improve
tax collection efficiency. A 10 per
cent import surcharge would be
imposed on new private jets which
is estimated to yield about N3.7bn
in 2015.”
In the area of tax waivers and
exemptions, the finance minister
lamented that analysis had shown
that about 30 per cent of those
that received tax waivers from
government especially under the
pioneer status scheme now abuse
the system.[b]2015 budget: President to spend
N456.98m on honoraria
DECEMBER 31, 2014 BY NIYI
ODEBODE AND EVEREST
AMAEFULE
82 Comments
President Goodluck Jonathan
The Office of the President will
spend N456.98m on honoraria
and sitting allowances in 2015.
This is different from the N348,
342,741 projected to be spent by
the State House on honoraria and
sitting allowances during the same
year.
Details of the 2015 budget
proposals obtained by The PUNCH
in Abuja on Tuesday also show
that the office of the President will
spend N1.93bn on travels and
transport.
The document is not specific on
who can receive honoraria but the
President plays host to former
Heads of State and governors who
make up the Council of State.
It was also learnt that honoraria
could be stipends paid to
members of committees set up by
the government.
There was no provision for
honoraria for the office of
President in the 2014 budget
proposal but the State House
received a provision of N320,
222,500 for it and sitting
allowances.
The breakdown of the expenditure
on travels and transport shows
that the office of the President will
be spending N1, 306,834,350 on
local travels and transport and the
sum of N621, 067,913 on
international travels and transport.
The travel bill of the President for
2014 was higher than the
provision for 2015. The 2014
budget made a provision of N2,
378,862,017 for the Office of the
President for local and
international travels.
For 2015, it is N1,927,902,263 for
local and international travels.
For foodstuffs/catering materials
supplies, a provision of N142,
472,537 was made for the Office
of the President.
The 2015 budget proposal
includes a provision of N131,
911,315 for fuel and lubricants for
the State House.
The breakdown shows that plant/
generator fuel will consume N35,
344,855; motor vehicle fuel, N85,
843,802 and cooking gas/fuel,
N10, 102,858.
For 2014, the State House
received lesser provision of N122,
855,267 for fuel and lubricants.
This was broken down into motor
vehicle fuel, N79, 950,407; plants
and generators, N33, 476,963, and
cooking gas/fuel cost, N9,
427,898.
A provision of N60, 847,647 was
made for the Office of the
President for advertisement and
publicity.
For the State House,
N287,514,283 provision is made
for welfare packages;
N174,537,975 for refreshment and
meals; N215, 635,715 for
foodstuffs and catering services;
N31,582,475 for medical
expenses; and N35,495,233 for
publicity and advertisement.
As of press time; it could not be
ascertained whether these
provisions would be reworked
downwards to reflect the austerity
measures announced by the
Federal Government to enable the
country to glide through sliding
prices in the international oil
market.
Coordinating Minister of the
Economy and Minister of Finance,
Dr. Ngozi Okonjo-Iweala, had
while presenting the 2015 budget
breakdown, announced additional
measures to check the
consumption pattern of Nigerians.
She explained that the measures
would commence from the
beginning of the second quarter
of 2015 and would considerably
boost the ratio of non-oil
revenues to oil revenues.
Giving details of the measures and
how much they will contribute into
the nation’s treasury, she
explained that the government
intended to generate more
revenue through the strengthening
of tax administration.
This, she said, would be achieved
if the better-off in the society
contributed a bit more towards
easing the pains felt from the
economic crunch.
As a short term measure, she said
a 10 per cent import surcharge
would be imposed on new private
jets. This is estimated to yield
about N3.7bn revenue for the
nation in 2015.
Similarly, the minister explained
that 39 per cent import surcharge
would be imposed on luxury
yachts which is estimated to
potentially raise N1.6bn in 2015;
while another five per cent import
surcharge would be placed on
luxury cars and this is estimated
to yield about N2.6bn of
additional revenue.
In the same vein, she said a
surcharge on business and first
class tickets on airlines would be
imposed on travellers. She
however, did not stipulate the rate
to be applied for this class of levy
and how much it will generate.
Others are the imposition of three
per cent luxury surcharge on
champagnes, wines and spirits
expected to generate about
N2.3bn in 2015; and a one per
cent mansion tax on residential
properties within the Federal
Capital Territory with a value of
N300m and above.
This property tax for luxury
building within the FCT, according
to the minister, is estimated to
yield additional N360m.
All these surcharges, she noted,
would yield a total of about
N10.56bn in 2015.
She had said, “We should see
these challenging times as times
of opportunities to further move
this economy on the right path.
“Luckily, this administration had
taken to diversification seriously
and had begun to make inroads
prior to this time.
“The non-oil sector, whose growth
has averaged about eight per cent
in the last few years, is the
primary driver of growth in the
economy unlike the oil sector
which is actually contracting.
“In the short term, we are
determined to improve tax
revenues not by increasing tax
rates as many have advised, but
rather as a pro-people
administration, by strengthening
our tax administration.
“We aim to plug leakages,
increase the tax base and improve
tax collection efficiency. A 10 per
cent import surcharge would be
imposed on new private jets which
is estimated to yield about N3.7bn
in 2015.”
In the area of tax waivers and
exemptions, the finance minister
lamented that analysis had shown
that about 30 per cent of those
that received tax waivers from
government especially under the
pioneer status scheme now abuse
the system.[/b]2015 budget: President to spend
N456.98m on honoraria
DECEMBER 31, 2014 BY NIYI
ODEBODE AND EVEREST
AMAEFULE
82 Comments
President Goodluck Jonathan
The Office of the President will
spend N456.98m on honoraria
and sitting allowances in 2015.
This is different from the N348,
342,741 projected to be spent by
the State House on honoraria and
sitting allowances during the same
year.
Details of the 2015 budget
proposals obtained by The PUNCH
in Abuja on Tuesday also show
that the office of the President will
spend N1.93bn on travels and
transport.
The document is not specific on
who can receive honoraria but the
President plays host to former
Heads of State and governors who
make up the Council of State.
It was also learnt that honoraria
could be stipends paid to
members of committees set up by
the government.
There was no provision for
honoraria for the office of
President in the 2014 budget
proposal but the State House
received a provision of N320,
222,500 for it and sitting
allowances.
The breakdown of the expenditure
on travels and transport shows
that the office of the President will
be spending N1, 306,834,350 on
local travels and transport and the
sum of N621, 067,913 on
international travels and transport.
The travel bill of the President for
2014 was higher than the
provision for 2015. The 2014
budget made a provision of N2,
378,862,017 for the Office of the
President for local and
international travels.
For 2015, it is N1,927,902,263 for
local and international travels.
For foodstuffs/catering materials
supplies, a provision of N142,
472,537 was made for the Office
of the President.
The 2015 budget proposal
includes a provision of N131,
911,315 for fuel and lubricants for
the State House.
The breakdown shows that plant/
generator fuel will consume N35,
344,855; motor vehicle fuel, N85,
843,802 and cooking gas/fuel,
N10, 102,858.
For 2014, the State House
received lesser provision of N122,
855,267 for fuel and lubricants.
This was broken down into motor
vehicle fuel, N79, 950,407; plants
and generators, N33, 476,963, and
cooking gas/fuel cost, N9,
427,898.
A provision of N60, 847,647 was
made for the Office of the
President for advertisement and
publicity.
For the State House,
N287,514,283 provision is made
for welfare packages;
N174,537,975 for refreshment and
meals; N215, 635,715 for
foodstuffs and catering services;
N31,582,475 for medical
expenses; and N35,495,233 for
publicity and advertisement.
As of press time; it could not be
ascertained whether these
provisions would be reworked
downwards to reflect the austerity
measures announced by the
Federal Government to enable the
country to glide through sliding
prices in the international oil
market.
Coordinating Minister of the
Economy and Minister of Finance,
Dr. Ngozi Okonjo-Iweala, had
while presenting the 2015 budget
breakdown, announced additional
measures to check the
consumption pattern of Nigerians.
She explained that the measures
would commence from the
beginning of the second quarter
of 2015 and would considerably
boost the ratio of non-oil
revenues to oil revenues.
Giving details of the measures and
how much they will contribute into
the nation’s treasury, she
explained that the government
intended to generate more
revenue through the strengthening
of tax administration.
This, she said, would be achieved
if the better-off in the society
contributed a bit more towards
easing the pains felt from the
economic crunch.
As a short term measure, she said
a 10 per cent import surcharge
would be imposed on new private
jets. This is estimated to yield
about N3.7bn revenue for the
nation in 2015.
Similarly, the minister explained
that 39 per cent import surcharge
would be imposed on luxury
yachts which is estimated to
potentially raise N1.6bn in 2015;
while another five per cent import
surcharge would be placed on
luxury cars and this is estimated
to yield about N2.6bn of
additional revenue.
In the same vein, she said a
surcharge on business and first
class tickets on airlines would be
imposed on travellers. She
however, did not stipulate the rate
to be applied for this class of levy
and how much it will generate.
Others are the imposition of three
per cent luxury surcharge on
champagnes, wines and spirits
expected to generate about
N2.3bn in 2015; and a one per
cent mansion tax on residential
properties within the Federal
Capital Territory with a value of
N300m and above.
This property tax for luxury
building within the FCT, according
to the minister, is estimated to
yield additional N360m.
All these surcharges, she noted,
would yield a total of about
N10.56bn in 2015.
She had said, “We should see
these challenging times as times
of opportunities to further move
this economy on the right path.
“Luckily, this administration had
taken to diversification seriously
and had begun to make inroads
prior to this time.
“The non-oil sector, whose growth
has averaged about eight per cent
in the last few years, is the
primary driver of growth in the
economy unlike the oil sector
which is actually contracting.
“In the short term, we are
determined to improve tax
revenues not by increasing tax
rates as many have advised, but
rather as a pro-people
administration, by strengthening
our tax administration.
“We aim to plug leakages,
increase the tax base and improve
tax collection efficiency. A 10 per
cent import surcharge would be
imposed on new private jets which
is estimated to yield about N3.7bn
in 2015.”
In the area of tax waivers and
exemptions, the finance minister
lamented that analysis had shown
that about 30 per cent of those
that received tax waivers from
government especially under the
pioneer status scheme now abuse
the system.
Politics / Re: The Bricklayer’s Breakdown Of Nigeria’s Proposed 2015 Budget by yesir: 6:41am On Dec 30, 2014
Reddit:
Posted By CHUBA EZEKWESILI
on December 29, 2014

The theme of 2014’s Budget was ‘inclusive budget’. Whether it was indeed inclusive or not is debatable. Given the current economic climate, 2015’s budget radically departs from that narrative – it is barely inclusive. This is bad, but there’s good news…The proposed 2015 budget is one largely based on faith; so given our religious propensity, we should be quite familiar with it. Fret not, you’ll need that faith when you understand the composition of our 2015 budget.

Wait First. What Exactly is This Budget Thing?

For those who know, feel free to skip this. For those that don’t, you’ll need this part to understand the ‘wisdom’ of Nigeria’s 2015 budget. A national budget is simply an estimate of a government’s anticipated revenue and expenditure during the year. The Nigerian Government plans to spend N4.3trillion in 2015.

The budget consists of two major parts: the recurrent and the capital cost. Recurrent consists mainly of expenditure on wages, salaries and statutory transfers, purchases of goods and services, and debt service. Clearly, recurrent cost keeps the Government running and the civil servants happy. This is great for those in Government, but for the overall economy and the people, the benefits are negligible. To the economy, recurrent cost is like when that Uncle comes during Christmas to give you money for biscuit and sweet. You spend it and that’s the end. The effects are direct, but neither long lasting nor inclusive.

Capital expenditure typically consists of infrastructures such as bridges, hospitals, schools, etc. It’s through capital expenditures that infrastructure and other critical services that touch majority of the people are provided. The only way you’ll directly feel the impact of the budget as a citizen is through the capital expenditures – not monetarily, but through an improvement in quality of living. Capital expenditure is like what your mother spends on your education – you might not appreciate it, but it goes a long way.

So What Does the Budget Have to Do With This Austerity Thing We Keep Hearing About?

Austerity measures are policies used to tighten government expenditure, close loopholes that cause revenue losses and a gross reduction of budget deficits during adverse economic conditions. Why does Nigeria need austerity measures? Nigeria is kinda broke due to falling oil price. You can read more on how we got into this mess here.

Austerity measures are created to ‘trim the fat’ of government, so money goes to crucial areas that encourage economic development. This means that recurrent costs like high wages and salaries, duplicate workers, unnecessary spendings on travels and new goods get cut.

Ohhh. So The Budget Should Ideally Spend More on Capital Than on Recurrent, Right?

Well…not exactly. In fact, not at all. For all the talk about austerity measures, Nigeria’s recurrent cost rose. The budget showed that Recurrent Expenditure takes 91% of the budget, rising from N2.468tn to N2.616tn.

Spending more on Capital cost than recurrent might be the most economic prudent decision, but it never happens. Even in the good old days of higher oil revenue, Capital expenditure suffered. Capital expenditure dips from N1.55tn in 2014 to N387bn in 2015. That’s from 24% to 9% of overall budget. Sadly, capital expenditure is like the unappreciated house-help that does all the work and yet doesn’t get Christmas clothes.

Governments find cutting capital costs easier cause there’s little direct impact on the pocket of citizens as compared to cutting recurrent cost. The Nigerian Government is one of the largest employer of labor in the country, so it would be politically suicidal to go on a firing spree during this election period. Moreover, it’s simply hard to get the same people setting their wages to cut it down. Also, with a new presidential private jet and the usual 150 billion for the National Assembly included in the 2015 Budget, it seems the angel of austerity spared top Government officials just like the angel of Death spared the Israelites in Egypt.

In the short run, it might be the easier and more politically-expedient move to sacrifice capital expenditure on the altar of recurrent cost, but its not the smartest move. The overall health of the economy suffers from this move. It’s like your mother spending on your Christmas cloth rather than keeping money for your January school fees. It’s sweet now, but painful later.

So How Does the Government Plan to Fund the Budget?

A budget is only as useful as the amount you have. If you like, write a long list, when you go to the market with only N10, you’ll only come out with pure water. Similarly, with our falling oil revenue, Nigeria desperately needs to find money from other sources. Nigeria plans to sponsor the budget with oil revenue and make up the rest of the revenue by diversifying its non-oil revenue sources, and broadening and updating its sources of tax receipts.

This is the part where the budget’s theme goes from ‘austerity budget’ to ‘faith budget’. Nigeria’s budget benchmark is set at $65 per barrel, however, the price of oil is currently at $59 and could fall further. In fact, Saudi Arabia has their 2015 budget benchmark at $60. They’re obviously less optimistic than we are. If they’re right, it means we’ll make less money than we’re expecting. It’s like buying the iPhone 6 on credit, only to find out that your dad gave you money for a Techno phone.

There’s also a tad bit too much optimism on the non-oil revenue front. The Federal Government expects to bring in N1.68tn for 2015. Given that revenue generated in 2013 was N1.07tn, our 2015 target might be a bit too optimistic. Perhaps if independent revenue agencies and MDAs get squeezed, we could pull in N1.2tn. Remember, this is also by faith.

Also, increasing taxes should bring in some money. The tax on luxury items such as private jets, luxury yachts, luxury cars, business and first class airline tickets, champagnes, wines and spirits adds to N10.56 Billion in a year. I’m uncertain how much it does, but just for some perspective, N21 Billion was donated to the President’s election campaign in one night.

So What Happens If the Revenue Doesn’t Add Up?

When this happens to a Government, the next step is typically to borrow in order to cover the budget cost. If oil prices stay below $65 per barrel, we shall borrow. If our volume of crude oil sold falls below our target, ‘borrow borrow’ will continue. And if we do not meet our quite optimistic non-oil revenue target, we will continue borrowing. Our domestic debt has risen from N4.55trillion in 2010 to N7.65trillion as at September 2014…and things were still a bit economically smooth back then.

Yes. That’s a lot of borrowing. The Government knows this and has tried to stem it. After the curtailing of international travels, reduction of procurement and upgrade of buildings, and a partial implementation of the Steve Oronsaye report, the Government will save N82 billion next year. Aunty Ngozi try small, but a glance at the composition of the budget still ‘dey turn belle.’

So What’s The Implication?

The budget report mentions several government efforts at diversification of revenue, but the act of slashing capital expenditure introduces a conundrum. For us to increase our non-oil revenue, we must diversify. However, diversification of the economy can only occur if capital spending is high, not when you slash it – which is exactly what we’re doing.

The budget depicts the future economic plan of a government for its country. If so, then Nigeria’s proposed 2015 budget goes a step backward into our past to highlight our addiction to extravagantly large governments and our nonchalance for strategic long-term investment.

We’ve treated the economy the same way we treat our roads. We wait for it to have huge potholes, then kill a bus load of (preferably prominent) people before it gets fixed. Meanwhile, those who drive down the road do so by faith, hoping not to get killed. Currently, we’re staring at the potholes littering our economy’s future and there’s need to not only avoid them, we’ve got to fix them. This 2015 budget might just optimistically dodge these holes, but it’ll do little to fix them. Merry Christmas and a Happy New Year to all! With a budget like this, you’ll need all the happiness you can get in 2015.

NB: I’m sure there’s a legitimate reason the budget presentation looks like a cake…

Source
How do u define a govt who
have jst increased its
feeding allowance from a
billion to 4bn
How else do u describe a
govt that's planning to buy
another aircraft in spite of
the duelling oil revenue and
economic challenges
How else do u define a govt
with a whooping 91% for
Re-current expenditure
How else do u define a govt
whose head said "Common
Stealing, you call it
corruption"
How else do u define a govt
whose economic
performance is looking so
good on paper but its not
reflecting on the lives of the
people"
How do u define a govt who
have Created more
Billionaires than others..
Lets vote for change..
Nigeria has potentials, we
can do alot better than this
vote GMB 2015
Vote Change
Politics / Re: APC Begins ‘walk The Ward’ Campaign by yesir: 8:26pm On Dec 27, 2014
I see that you are to old to change in the ways you see tins. ..I see u as very controversial person.. ....CHANGE YOUR THINKING PLZZZ
Politics / The Bitter Truth About GEJ 2015 Campaign. Fundraising by yesir: 7:44pm On Dec 26, 2014
BE AS CHEAP AS YOU WANT BUT
KNOW YOUR WORTH -
N21,000,000,000 ÷ 170,000,000
Nigerians = N123.52 PDP just
raised N21bn to purchase or hire
170m Nigerians for another four
year term of a bumpy ride. Of
course, I'm not suggesting you
should not collect your meager
share of N123.52k but be mindful
of the sales agreement. You
should know, N123.52 = 1. Four
years school fees of your
children. 2. Four years upkeep of
your family. 3. Four years
hospital bills of your family. 4.
Four years security maintenance
for your family. 5. Four years
electricity provision for your
family. 6. Four years water supply
for your family. 7. Four years
payment for the needed good
roads you always dream of. 8.
Four years provision to restore
the productivity of your farm. 9.
Four years cost of restoring your
lost business. 10. Four years
allowance that will make you feel
like a human being. While
somewhere in the villa, N123.52 =
1. The cost of purchasing an
annual budget averaging N4trn
which translates into N23,529.41
per 170m Nigerian mostly to be
pocketed selected few. In simpler
terms PDP is buying N23,529.41
from you at a discount rate of
N123.52 2. Four years cost of
lawlessness that will sustain the
near zero life expectancy in
Nigeria. 3. Four years cost of
watching suspected criminals
parading your streets with blaring
siren and Military/Police escort -
harassing you off the roads you
purchased with your meager
share of N123. 52 4. Four years
cost of watching a minister who
just supervised the murder of
your child in a stampede at an
interview center for non existent
jobs sleeping before an
investigative panel to find out
what happened because he knew
nothing is going to happen. 5.
Four years cost of watching
thieves going after people who
blew whistle on them. 6. Four
years cost of watching $20bn
growing wings and flying away
where nobody could find it. 7.
Four years cost of watching thugs
and fake men of God buying
private jets, building multibillion
mansions and private
universities. 8. Four years cost of
watching a handful insurgents
operating with better weapons
than a federal army supposedly
operating within an annual budget
of N1trn. 9. Four year cost of
watching your dignity
depreciating in airports across
the globe because everybody
hates a Nigerian. 10. Four years
cost of watching your child/wife
dies for as little as N5000
because you can't afford to go to
India or even Ghana for better
health care. 11. Four years cost
of watching your children rot
away at home because
universities are permanently on
strike. 12. Four years cost of
watching TAN insulting your
sensibility by telling you all the
above is your imagination. BE
WISE AND KNOW WHAT YOU ARE
SELLING AND BUYING!

1 Like

Politics / Re: President Jonathan Gives Emotional Speech On APC, Amaechi’s Comment by yesir: 6:31pm On Dec 26, 2014
BE AS CHEAP AS YOU WANT BUT
KNOW YOUR WORTH -
N21,000,000,000 ÷ 170,000,000
Nigerians = N123.52 PDP just
raised N21bn to purchase or hire
170m Nigerians for another four
year term of a bumpy ride. Of
course, I'm not suggesting you
should not collect your meager
share of N123.52k but be mindful
of the sales agreement. You
should know, N123.52 = 1. Four
years school fees of your
children. 2. Four years upkeep of
your family. 3. Four years
hospital bills of your family. 4.
Four years security maintenance
for your family. 5. Four years
electricity provision for your
family. 6. Four years water supply
for your family. 7. Four years
payment for the needed good
roads you always dream of. 8.
Four years provision to restore
the productivity of your farm. 9.
Four years cost of restoring your
lost business. 10. Four years
allowance that will make you feel
like a human being. While
somewhere in the villa, N123.52 =
1. The cost of purchasing an
annual budget averaging N4trn
which translates into N23,529.41
per 170m Nigerian mostly to be
pocketed selected few. In simpler
terms PDP is buying N23,529.41
from you at a discount rate of
N123.52 2. Four years cost of
lawlessness that will sustain the
near zero life expectancy in
Nigeria. 3. Four years cost of
watching suspected criminals
parading your streets with blaring
siren and Military/Police escort -
harassing you off the roads you
purchased with your meager
share of N123. 52 4. Four years
cost of watching a minister who
just supervised the murder of
your child in a stampede at an
interview center for non existent
jobs sleeping before an
investigative panel to find out
what happened because he knew
nothing is going to happen. 5.
Four years cost of watching
thieves going after people who
blew whistle on them. 6. Four
years cost of watching $20bn
growing wings and flying away
where nobody could find it. 7.
Four years cost of watching thugs
and fake men of God buying
private jets, building multibillion
mansions and private
universities. 8. Four years cost of
watching a handful insurgents
operating with better weapons
than a federal army supposedly
operating within an annual budget
of N1trn. 9. Four year cost of
watching your dignity
depreciating in airports across
the globe because everybody
hates a Nigerian. 10. Four years
cost of watching your child/wife
dies for as little as N5000
because you can't afford to go to
India or even Ghana for better
health care. 11. Four years cost
of watching your children rot
away at home because
universities are permanently on
strike. 12. Four years cost of
watching TAN insulting your
sensibility by telling you all the
above is your imagination. BE
WISE AND KNOW WHAT YOU ARE
SELLING AND BUYING!
Politics / Re: President Jonathan Gives Emotional Speech On APC, Amaechi’s Comment by yesir: 6:29pm On Dec 26, 2014
BE AS CHEAP AS YOU WANT BUT
KNOW YOUR WORTH -
N21,000,000,000 ÷ 170,000,000
Nigerians = N123.52 PDP just
raised N21bn to purchase or hire
170m Nigerians for another four
year term of a bumpy ride. Of
course, I'm not suggesting you
should not collect your meager
share of N123.52k but be mindful
of the sales agreement. You
should know, N123.52 = 1. Four
years school fees of your
children. 2. Four years upkeep of
your family. 3. Four years
hospital bills of your family. 4.
Four years security maintenance
for your family. 5. Four years
electricity provision for your
family. 6. Four years water supply
for your family. 7. Four years
payment for the needed good
roads you always dream of. 8.
Four years provision to restore
the productivity of your farm. 9.
Four years cost of restoring your
lost business. 10. Four years
allowance that will make you feel
like a human being. While
somewhere in the villa, N123.52 =
1. The cost of purchasing an
annual budget averaging N4trn
which translates into N23,529.41
per 170m Nigerian mostly to be
pocketed selected few. In simpler
terms PDP is buying N23,529.41
from you at a discount rate of
N123.52 2. Four years cost of
lawlessness that will sustain the
near zero life expectancy in
Nigeria. 3. Four years cost of
watching suspected criminals
parading your streets with blaring
siren and Military/Police escort -
harassing you off the roads you
purchased with your meager
share of N123. 52 4. Four years
cost of watching a minister who
just supervised the murder of
your child in a stampede at an
interview center for non existent
jobs sleeping before an
investigative panel to find out
what happened because he knew
nothing is going to happen. 5.
Four years cost of watching
thieves going after people who
blew whistle on them. 6. Four
years cost of watching $20bn
growing wings and flying away
where nobody could find it. 7.
Four years cost of watching thugs
and fake men of God buying
private jets, building multibillion
mansions and private
universities. 8. Four years cost of
watching a handful insurgents
operating with better weapons
than a federal army supposedly
operating within an annual budget
of N1trn. 9. Four year cost of
watching your dignity
depreciating in airports across
the globe because everybody
hates a Nigerian. 10. Four years
cost of watching your child/wife
dies for as little as N5000
because you can't afford to go to
India or even Ghana for better
health care. 11. Four years cost
of watching your children rot
away at home because
universities are permanently on
strike. 12. Four years cost of
watching TAN insulting your
sensibility by telling you all the
above is your imagination. BE
WISE AND KNOW WHAT YOU ARE
SELLING AND BUYING![b]BE AS CHEAP AS YOU WANT BUT
KNOW YOUR WORTH -
N21,000,000,000 ÷ 170,000,000
Nigerians = N123.52 PDP just
raised N21bn to purchase or hire
170m Nigerians for another four
year term of a bumpy ride. Of
course, I'm not suggesting you
should not collect your meager
share of N123.52k but be mindful
of the sales agreement. You
should know, N123.52 = 1. Four
years school fees of your
children. 2. Four years upkeep of
your family. 3. Four years
hospital bills of your family. 4.
Four years security maintenance
for your family. 5. Four years
electricity provision for your
family. 6. Four years water supply
for your family. 7. Four years
payment for the needed good
roads you always dream of. 8.
Four years provision to restore
the productivity of your farm. 9.
Four years cost of restoring your
lost business. 10. Four years
allowance that will make you feel
like a human being. While
somewhere in the villa, N123.52 =
1. The cost of purchasing an
annual budget averaging N4trn
which translates into N23,529.41
per 170m Nigerian mostly to be
pocketed selected few. In simpler
terms PDP is buying N23,529.41
from you at a discount rate of
N123.52 2. Four years cost of
lawlessness that will sustain the
near zero life expectancy in
Nigeria. 3. Four years cost of
watching suspected criminals
parading your streets with blaring
siren and Military/Police escort -
harassing you off the roads you
purchased with your meager
share of N123. 52 4. Four years
cost of watching a minister who
just supervised the murder of
your child in a stampede at an
interview center for non existent
jobs sleeping before an
investigative panel to find out
what happened because he knew
nothing is going to happen. 5.
Four years cost of watching
thieves going after people who
blew whistle on them. 6. Four
years cost of watching $20bn
growing wings and flying away
where nobody could find it. 7.
Four years cost of watching thugs
and fake men of God buying
private jets, building multibillion
mansions and private
universities. 8. Four years cost of
watching a handful insurgents
operating with better weapons
than a federal army supposedly
operating within an annual budget
of N1trn. 9. Four year cost of
watching your dignity
depreciating in airports across
the globe because everybody
hates a Nigerian. 10. Four years
cost of watching your child/wife
dies for as little as N5000
because you can't afford to go to
India or even Ghana for better
health care. 11. Four years cost
of watching your children rot
away at home because
universities are permanently on
strike. 12. Four years cost of
watching TAN insulting your
sensibility by telling you all the
above is your imagination. BE
WISE AND KNOW WHAT YOU ARE
SELLING AND BUYING![/b]BE AS CHEAP AS YOU WANT BUT
KNOW YOUR WORTH -
N21,000,000,000 ÷ 170,000,000
Nigerians = N123.52 PDP just
raised N21bn to purchase or hire
170m Nigerians for another four
year term of a bumpy ride. Of
course, I'm not suggesting you
should not collect your meager
share of N123.52k but be mindful
of the sales agreement. You
should know, N123.52 = 1. Four
years school fees of your
children. 2. Four years upkeep of
your family. 3. Four years
hospital bills of your family. 4.
Four years security maintenance
for your family. 5. Four years
electricity provision for your
family. 6. Four years water supply
for your family. 7. Four years
payment for the needed good
roads you always dream of. 8.
Four years provision to restore
the productivity of your farm. 9.
Four years cost of restoring your
lost business. 10. Four years
allowance that will make you feel
like a human being. While
somewhere in the villa, N123.52 =
1. The cost of purchasing an
annual budget averaging N4trn
which translates into N23,529.41
per 170m Nigerian mostly to be
pocketed selected few. In simpler
terms PDP is buying N23,529.41
from you at a discount rate of
N123.52 2. Four years cost of
lawlessness that will sustain the
near zero life expectancy in
Nigeria. 3. Four years cost of
watching suspected criminals
parading your streets with blaring
siren and Military/Police escort -
harassing you off the roads you
purchased with your meager
share of N123. 52 4. Four years
cost of watching a minister who
just supervised the murder of
your child in a stampede at an
interview center for non existent
jobs sleeping before an
investigative panel to find out
what happened because he knew
nothing is going to happen. 5.
Four years cost of watching
thieves going after people who
blew whistle on them. 6. Four
years cost of watching $20bn
growing wings and flying away
where nobody could find it. 7.
Four years cost of watching thugs
and fake men of God buying
private jets, building multibillion
mansions and private
universities. 8. Four years cost of
watching a handful insurgents
operating with better weapons
than a federal army supposedly
operating within an annual budget
of N1trn. 9. Four year cost of
watching your dignity
depreciating in airports across
the globe because everybody
hates a Nigerian. 10. Four years
cost of watching your child/wife
dies for as little as N5000
because you can't afford to go to
India or even Ghana for better
health care. 11. Four years cost
of watching your children rot
away at home because
universities are permanently on
strike. 12. Four years cost of
watching TAN insulting your
sensibility by telling you all the
above is your imagination. BE
WISE AND KNOW WHAT YOU ARE
SELLING AND BUYING!

1 Like 1 Share

Politics / Re: House-to-House Campaign Organization Dumps Jonathan, Adopts Buhari by yesir: 12:29pm On Dec 24, 2014
My candid advice for GEJ is to float a Commercial bank with his campaign donations so as to generate employment for d masses. I will complete d balance to make up d minimum capital base of N25b.... clueless leader who has no shoes and wants to take away our shoes. .. na so my people talk say when poor man see money him sense go vanish, anyway, I pity his supporters who has eyes not dat they cannot see, but they cannot easily see, not that they cannot hear, but they cannot easily hear. ....sentiment my foot... LONG LIVE.. GMB, long live Nigeria. ..this is not for APC, but for d candidacy

1 Like 1 Share

Politics / Re: Prof. Yemi Osinbanjo Gives Nigerians A Glimpse Into His Office (Pic) by yesir: 11:03pm On Dec 22, 2014
you are on point. WHERE ARE D EFCCs, ICPCs 2day. even if Obj witch hunt some governors, mention anyone of them that was not corrupt? imagine a minister asking court to stop being probed, Oduah's case was so glaring dat it could not be swept under d carpet, corruption is not stealing. ...WE MUST GO FOR THE NEEDED CHANGE, PUT SOUTH- SOUTH sentiment apart.

3 Likes 1 Share

Politics / Re: Is This Not WICKEDNESS? Youths Burn Brooms Together With APC Flags In Imo by yesir: 6:39am On Dec 21, 2014
the only thing PDP had to offer is corruption and bad governance. Rented adults who are clueless. .. name any Federal project in Imo state
Religion / Re: "What Does The Bible Say About The Virgin Mary?" by yesir: 1:57pm On Oct 12, 2014
these bible verses co.confirms the children of Mary after Jesus Christ. ..Mattrew 13v55.,john 2v12. , john 7v3. , john 7v5, Acts 10v14, 1Corinthians 9v5, Galatians 1v 19.. let's argue with the bible and not wat our fore-fathers had believed in, Christian is a way if life we r expected to live which is beyond religion
Health / Re: FG Confirms 10th Ebola Case In Lagos by yesir: 6:53pm On Aug 11, 2014
lord, have mercy.
Jobs/Vacancies / Vacancies In Mfb by yesir: 6:39pm On Aug 11, 2011
Our bank, a leading Microfinance Institution in Ogun State , is currently searcing for MARKETING EXECUTIVE/BIZ. DEV. OFFICERS with O.N.D or N.C.E. qualifications.
Applicant MUST resides within IJUBU-ODE NORTH EAST LOCAL GOVERNMENT.

SEND YOUR C.V. TO : osakin05@yahoo.com
Jobs/Vacancies / Re: FIRS Appointment At Last! by yesir: 5:18pm On May 04, 2011
congrat
Politics / Re: Benin Ore Road Has Been Fixed!(Some pictures) by yesir: 3:41pm On Apr 13, 2011
since the era of chief Anenih till date, how long will it take PDP to complete the road? do not just showcase as if it were a new project awarded within the current political dispensation, SAME TO PDP
Properties / Want To Invest Or Acquire A Microfinance Bank by yesir: 3:53pm On Mar 23, 2011
ARE YOU INTERESTED IN INVESTING OR ACQUIRING UP TO 80% OR MORE IN A FULLY LICENSED MICRO FINANCE BANK THAT HAS BEEN IN EXISTENCE FOR OVER 15 YEARS.

ONLY SERIOUS ENQUIRES WILL BE ENTERTAINED
PLEASE CALL: 08098571397
Business / Want To Invest Or Acquire A Microfinance Bank by yesir: 3:34pm On Mar 23, 2011
ARE YOU INTERESTED IN INVESTING OR ACQUIRING UP TO 80% OR MORE IN A FULLY LICENSED MICRO FINANCE BANK THAT HAS BEEN IN EXISTENCE FOR OVER 15 YEARS.

ONLY SERIOUS ENQUIRES WILL BE ENTERTAINED
PLEASE CALL: 08098571397
Business / Want To Invest Or Acquire A Microfinance Bank by yesir: 3:28pm On Mar 23, 2011
ARE YOU INTERESTED IN INVESTING OR ACQUIRING UP TO 80% OR MORE IN A FULLY LICENSED MICRO FINANCE BANK THAT HAS BEEN IN EXISTENCE FOR OVER 15 YEARS.

ONLY SERIOUS ENQUIRES WILL BE ENTERTAINED
PLEASE CALL: 08098571397
Jobs/Vacancies / Re: Urgent! Urgent! Urgent! by yesir: 4:36pm On Mar 18, 2011
guy,
stop mocking urself
d coy no get name and address?
Jobs/Vacancies / Urgent Vacancies In A Microfinance Bank ! by yesir: 10:53am On Feb 24, 2011
COMBINED BENEFITS MICROFINANCE BANK LIMITED located at Plot 6, Oladokun Avenue, Dankaro Estate, Off Odozi Street, Ojodu Abiodun.IFO LGA Requires Services of Qualified and Experienced Professionals for the following vacant positions:

• INTERNAL AUDITOR
• HEAD OF OPERATIONS
• BANKING OFFICER
• CUSTOMER CARE OFFICER
• MARKETING EXECUTIVES


Candidates applying for the position(s) (1) to (3) stated above must possess a Bachelors Degree/HND  and O.N.D. in Banking & Finance, Accounting or any related business field with a minimum of 3 years post NYSC working experience respectively. Additional qualifications and Microfinance Bank experience will be an added advantage.

PLEASE NOTE THAT THIS IS ONLY RESTRICTED TO THOSE RESIDING AROUND OJODU BERGER, ALAGBOLE AND AKUTE ENVIRONS.

Method of Application
Send your CV to: combinedbank@yahoo.co.uk

For more details please call: 01-8949035, 017339190, 01-8537870

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