klas:

The tragedy is in fighting without a cause. You asked what are the legislators going to do with the 'extra' money. There is no extra money .

The budget is a deficit budget. Higher expenditure than the projected revenue which is to be financed by borrowing. What the legislators are asking for is that the deficit gap be reduced by increasing the benchmark by $5/barrel instead of transferring the artificial excess to excess crude account which will be spent without recourse to the national assembly and at the same time borrowing to finance the approved budget.

CBN and finance ministry have been speaking grammar on the advantages of saving and borrowing at the same time as opposed to the assembly stand of reduced saving and reduced borrowing. Afterall na person wey chop bellyful dey save excess.

jimei0602: I love you more and more each day, as time goes by.
[img]http://www.forexchartingsoftware.info/iPhone.gif[/img]

Captainajama: I hereby declare the FOO.L DEMDEM persona non grata on nairaland.

Pupita: You guys should leave DEMDEM ,you are hurting his ego. Focus on the budget and the ways we ordinary Nigerians can ensure effective implementation this time. It is our money we are talking about here o!

Captainajama: I hereby declare the FOO.L DEMDEM persona non grata on nairaland.

Mandelaguy: I was just a second away from doing same.Hahahahahahaha,so see what I am talking about? Thought I was the only reasonable person here.

Pupita: You guys should leave DEMDEM ,you are hurting his ego. Focus on the budget and the ways we ordinary Nigerians can ensure effective implementation this time. It is our money we are talking about here o!

Demdem:



Fools will always think alike. Not surprised

Demdem: Nigeria has always had beautiful budgets. It didnt start today neither will it end today also. Implementation has always been our problem. even budget 2012 wasnt bad at all except the recurrent part IMO however what is our story today?

Demdem:

Can u kindly tell me where i lost it on this thread? The liars exhibited his traits and i corrected them with facts. i even went ahead to salute the early presentation of the budget. what else do u want. be careful where u thread, these ones are noted to be liars here on NL. anyway, na ur choice sha afterall, its a free world.

Bukkyade: This is the first time in the history of this country when budget is coming this early.
This is the first time in the history of this country when a budget is presented with an account of performance of the previous budget in key areas.
The entire NASS were impressed and clapped thunderously to the key performances on critical areas like power and NIPP power stations. Railway rehabilitation involving Itakpe-Warri, Lagos-Kano, Abuja metropolitan railway co. Inland waterways in Onitsha and ports sanitisazation, reconstruction of 11 existing terminals and award for construction of 5 new major airports innLagos, Kano, Port HarvourtAbuja and Enugu. The ongoing construction of Benin-Ore, Kano-Maidugri, Abuja-Lokoja. The president also hinted of the proposed award for rehabilitation of Enugu-PORTHARCOURT expressway

The president gave details of how he is going to consolidate on these achievements with a reduction in recurrent expenditure.
So many incentives for growth of local industries with zero percent duties on so many imports

Mandelaguy: When you go to market and fight with everyone,who is wrong? When everyone is called foo.l by you,who is a foo.l?

Its interesting to note that by everyone u mean mandelaguy, captainrubbish and propably pupita. Wonderfull

How come mandelaguy and captainrubbish registered on NL on the same day

https://www.nairaland.com/mandelaguy
https://www.nairaland.com/captainajama

Infact Pupita came on-board like 5days after

https://www.nairaland.com/pupita


Uuuunnhmmmmmmmmmmm, i think i am dealing with the 40 Laptop squad

gees_02:

seems like uu're stuck on pessimism. uu neva seem to have anything good to say about our country and our president. Just so uu know, ur criticism hasn't done much good either !!!

Bukkyade: This is the first time in the history of this country when budget is coming this early.
This is the first time in the history of this country when a budget is presented with an account of performance of the previous budget in key areas.
The entire NASS were impressed and clapped thunderously to the key performances on critical areas like power and NIPP power stations. Railway rehabilitation involving Itakpe-Warri, Lagos-Kano, Abuja metropolitan railway co. Inland waterways in Onitsha and ports sanitisazation, reconstruction of 11 existing terminals and award for construction of 5 new major airports innLagos, Kano, Port HarvourtAbuja and Enugu. The ongoing construction of Benin-Ore, Kano-Maidugri, Abuja-Lokoja. The president also hinted of the proposed award for rehabilitation of Enugu-PORTHARCOURT expressway

The president gave details of how he is going to consolidate on these achievements with a reduction in recurrent expenditure.
So many incentives for growth of local industries with zero percent duties on so many imports

Demdem:

Its interesting to note that by everyone u mean mandelaguy, captainrubbish and propably pupita. Wonderfull

How come mandelaguy and captainrubbish registered on NL on the same day

https://www.nairaland.com/mandelaguy
https://www.nairaland.com/captainajama

Infact Pupita came on-board like 5days after

https://www.nairaland.com/pupita


Uuuunnhmmmmmmmmmmm, i think i am dealing with the 40 Laptop squad

Pupita: See mumu o! I was just telling you guys to focus on how to make things work and your ego made you read something else. Please read my post and stop starting fights with everyone,it will hurt you more.

Sky Blue:

Sound argument and sound logic. But what happens if oil prices don't hold above the $80 benchmark they are asking for? Will that not greatly hamper implementation since we would have to start running around for funding in such eventuality, or do we just assume we automatically move money from the excess crude account to finance the shortfall? Which state governor will agree to that?

Pupita: Idi.ots like you were floored and messed up by the famous 40! Can you thread where they do? Please link me to them, agbero like you!

I knew it.
Fool can u kindly show the house where the flooring took place?

Pupita: Idi.ots like you were floored and messed up by the famous 40! Can you thread where they do? Please link me to them, agbero like you!

Mandelaguy: Old news! Try another format,I am honoured to be associated with the famous 40 as was correctly posited by Pupita. You are a capital FOO.L demdem.

catch ya awaiting captain rubbish

Demdem:

catch ya awaiting captain rubbish

Mandelaguy: Running with his tails in between his legs....cowar.d,clown.

klas:

That is the problem that the national assembly is having with the operation of excess crude account. You will notice that national assembly turned blind eye to the operation of that account when OBJ introduced it without the backing of the law because then, it was truly excess. The revenue was far higher than the budgeted expenditure and since the constitution does not make express provision for savings (all monies in federation account must be shared (read spent)), the only means of circumventing that was to under-declare revenue.

Now this has been bastardized. Budgeted expenditure are deliberately made to be more than gross revenue yet govt wants to create the impression of saving by still under-declaring revenue and call it excess and at the same time borrow with interest to finance the deficit gap.

Recourse are made to excess crude fund even when oil price was not below the benchmark as had happened many times in the early life of this administration. The executive both at federal and states love this arrangement because it is a sort of extra-budgetary expenditure and still go ahead to borrow to finance the approved budget.

Mandelaguy: Running with his tails in between his legs....cowar.d,clown.

Pupita: This is what I am talking about, if you think yo are intelligent,engage in sound discuss and arguements, not like DEMDEM and other bunch of idi.iots who will add no value to important discussions. Mtcheeeeew! That is why women are smarter than you guys! Bunch of ego seeking bastar.ds!

Bukkyade: This is the first time in the history of this country when budget is coming this early.
This is the first time in the history of this country when a budget is presented with an account of performance of the previous budget in key areas.
The entire NASS were impressed and clapped thunderously to the key performances on critical areas like power and NIPP power stations. Railway rehabilitation involving Itakpe-Warri, Lagos-Kano, Abuja metropolitan railway co. Inland waterways in Onitsha and ports sanitisazation, reconstruction of 11 existing terminals and award for construction of 5 new major airports innLagos, Kano, Port HarvourtAbuja and Enugu. The ongoing construction of Benin-Ore, Kano-Maidugri, Abuja-Lokoja. The president also hinted of the proposed award for rehabilitation of Enugu-PORTHARCOURT expressway

The president gave details of how he is going to consolidate on these achievements with a reduction in recurrent expenditure.
So many incentives for growth of local industries with zero percent duties on so many imports

bubadaniel13: we are talking abt how excellent the prospects of the 2013 budget is,pls ignore pessimists like Demdem u no hear him name why are bothering ur self by arguing with him,u will just waste ur time just be hopeful for the better,Demdem is a bitter person I think his childhood has affected him so much to loose hope and confidence abt everything in this life...prayers can go a long way..

Demdem: Nigeria has always had beautiful budgets. It didnt start today neither will it end today also. Implementation has always been our problem. even budget 2012 wasnt bad at all except the recurrent part IMO however what is our story today?