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Nairaland Forum / Nairaland / General / Politics / MTEF: FEC Approves N6tr Expenditure For 2016 (29396 Views)
FEC Approves N80bn For Second Niger Bridge, Roads Construction In 12 States / MTEF: FEC Approves N6tr Expenditure For 2016 / Independence Anniversary Expenditure For The Past 5 Years. - Nasir El-rufai (2) (3) (4)
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Re: MTEF: FEC Approves N6tr Expenditure For 2016 by ikennaoma(m): 8:33am On Dec 08, 2015 |
Let's hope smth good comes out of this regime. |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by elampiro(m): 10:24am On Dec 08, 2015 |
Bevista: Wow! 1 Like |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by elampiro(m): 10:26am On Dec 08, 2015 |
Meriekriss: The figures he posted were proposed. Proposed vs Proposed. So there is nothing like waiting for actual. 1 Like |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by elampiro(m): 10:39am On Dec 08, 2015 |
According to OPEC website, oil price averaged $107.46 in 2011 $109.45 in 2012 $105.87 in 2013 $96.29 in 2014 $52 in 2015 8 Likes |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Meriekriss: 11:08am On Dec 08, 2015 |
elampiro: Anyone can come out and propose even unrealistic stuffs. The same way they proposed 5000k for the poorest and free school meals even wen it was glaring that it couldn't be achieved.. No point dancing over 8T budget proposal when no efforts have been made to diversify the economy.. The oil is even projected to get worse next year.. So am just being realistic here.. 4 Likes |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by elampiro(m): 11:33am On Dec 08, 2015 |
Meriekriss: OK. But proposed budget are usually not far from actual. |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Meriekriss: 11:54am On Dec 08, 2015 |
elampiro: Really? Despite last administration proposing 5T,they still had deficit of over 1T despite higher price of crude oil then. I just think one should be realistic when proposing sha.. It's easier to propose.. Implementation is the main issue.. 1 Like |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by baralatie(m): 11:57am On Dec 08, 2015 |
Bevista:If you want me to explain it to you. Will you believe? The 6trillion that fg is proposing is only possible with heavy borrowing of extra $10-$12billion dollars 6 Likes |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by elampiro(m): 12:01pm On Dec 08, 2015 |
Meriekriss: I didn't get what you meant in your first paragraph. Can you throw more light on the exact figures proposed by last administration visavis the final actual budget approved? I agree there should be realistic proposal, but that has to be determined by those scrutinizing it for approval in the Senate/House of reps. So the figures pushed forward will have to be defended. Last year Okonjo Iweala had to reduce the proposed budget twice as oil kept falling, then finally increased it a little with heavy borrowing to support. |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Bevista: 12:18pm On Dec 08, 2015 |
baralatie:And assuming you were right, is that a lot more than what GEJ and his bandits were borrowing - even with record high oil prices? 9 Likes 2 Shares |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by deking(m): 12:22pm On Dec 08, 2015 |
@ $38 per barrel and 2.2million b/d considering 260 days the Govts daily earnings from oil will be $38 X 2.2M X 260 =$21736 Million @ N196 = $1 This gives $21736 Million X 196 = N4260256 million i.e N4.260256T With this figures and considering the other loopholes that have been blocked this is more than a possible feat. The government doesn't have to borrow if the price of petrol continues to hover around the 43$ benchmark. 5 Likes |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by baralatie(m): 12:27pm On Dec 08, 2015 |
Bevista:On the contrary the Jonathan administration did not have to borrow to that extentextent.let me break it down. 1,The fed budget is designed to be 53% oil revenue to 47% non oil revenue 2,the acruable revenue for federal budget is #3.6 trillion with a zero subsidy but its budget expenditure is #4.4 trilliontrillion 3,from 2 oil is to bring #1.9trillion @$65/ barrel( but av is $40-$43/barrel) 4.optimum output is 2,03-2.1 millions barrels per day. |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by baralatie(m): 12:31pm On Dec 08, 2015 |
deking:Good now you have arrived at #4.3 trilliontrillion.federal govt is only entitled to 53%=roughly #2,15trillion over a year, states and l.g share the remaining oya carry calculator. 2,15/12 months 4 Likes |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by baralatie(m): 12:51pm On Dec 08, 2015 |
seunmsg:It is the other way round.@ $70 benchmark for #4.4trillion is far healthier than a $38 dollar benchmark for a #6 trillion budget |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by baralatie(m): 12:53pm On Dec 08, 2015 |
chinchum:Me I thought $30 is a good way but who knows.. |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by deking(m): 1:00pm On Dec 08, 2015 |
baralatie: I am pretty sure the plan is to improve other major sources of revenue earnings for the government. Don't forget that MTN still dey owe us oooo lol. ![]() 5 Likes |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Bevista: 1:02pm On Dec 08, 2015 |
baralatie:Click the link below, then scroll down to "Fiscal Balance". http://www.ey.com/GL/en/Services/Tax/International-Tax/Alert--Nigerian-Government-presents-2015-Budget -------- Also note that the figures you presented was the proposal from the Executive. Recall that NASS ended up increasing the budget while also reducing benchmark oil price from $65 to $53, resulting in a deficit of N1.075T. Read below. http://www.vanguardngr.com/2015/08/oil-crash-dwindling-revenue-threaten-nigerias-2015-budget-4/ ------ I'll be happy to discuss further after you are done with those 2 links. |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by baralatie(m): 1:06pm On Dec 08, 2015 |
deking:If mtn pays $3 billion that is good o Which company will pay for 2017? Already fed tax revenue dropped this gear compared to last year! Customs and NPA might be a slight repreive but govt salaries and wages will also go up and cancel those earnings. I want to see the breakdown of how the arrived at #6tr.I think salaries and wages from all mdas shot the fed bill higher |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by baralatie(m): 1:13pm On Dec 08, 2015 |
Bevista:What questions do you have with the report it is very clear and supports all I have been saying |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by omeke12(m): 1:20pm On Dec 08, 2015 |
I couldn't vote for Jonathan to continue cos I detested what my country was turning into under his administration so I never voted.. ... anytime I state this fact the first question I get is... "why didn't U vote for APC?" ... I voted for APC in the Lagos Governorship election but didn't in the presidential elections not because I disliked their Ideology or mantra ( I craved for 'change') but because I couldn't convince myself (for d sake of my present and future family) to vote for Buhari because.. .. 1...Buhari was a former President, former minister of petroleum and so many other top offices he held back then and yet he still tags himself as 'poor', borrowing money then to buy nomination forms. I'm not saying he should have embezzled our money but...for God's sake, it takes wisdom, vision and creativity to be a rich and successful man. Buhari couldn't create an empire with the "little" salary he made those days then I strongly don't believe he can change d fortunes of Nigeria. it was shameful during asset declaration when I saw the wealth our VP has amassed for himself and his family, comparing it with that provided by our president who is meant to lead us out of brokeness. .. 2...Buhari has been contesting for presidency since 2003 and all those while as an aspirant, he never influenced katsina, Nigeria or Africa In any positive way, (he has no known charity foundation in his name), the only time one hears of Buhari then is when he makes Violence Inciting comments that leads to loss of lives especially in the north.... .... please fellow Nigerians, don't expect much from our president, he doesn't really have much to offer just pray for God to give him WISDOM and POWER not to lead us astray... ...Remember Nigeria is our country. 7 Likes 1 Share |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Nobody: 1:21pm On Dec 08, 2015 |
divinehand2003: The remaining 2 trillion was to be funded by MTN fine, but they didn't pay When they pay we will balance it to 8 trillion ![]() ![]() ![]() |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by operadolfc: 1:22pm On Dec 08, 2015 |
HAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA SIX TRILLION..!!!!!!!!!! |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Nobody: 1:23pm On Dec 08, 2015 |
[s] SeverusSnape:[/s] some av eyes but cant see ![]() |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Meriekriss: 1:24pm On Dec 08, 2015 |
elampiro: Exactly my point.. Currently, this administration is only banking on TSA and low crude oil price which they are even finding it difficult to find buyers. So my point is not presenting a budget that's unrealistic and painting a picture that it can be achieved.. Then later, when the reality dawns, the masses will descend on them the way they are doin now with regards to their promises. 1 Like |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Bjergtrolde: 1:24pm On Dec 08, 2015 |
baralatie: +5trillion MTN fine ![]() |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Nobody: 1:25pm On Dec 08, 2015 |
. |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by toprealman: 1:26pm On Dec 08, 2015 |
And Bamaga Tukur and a few others cornered #1 trillion . smh |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Bevista: 1:27pm On Dec 08, 2015 |
baralatie:You did not read anywhere in the report (the Vanguard link) where it said that we operating a budget deficit of N1.075T? |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Btruth: 1:28pm On Dec 08, 2015 |
chinchum:........it's time for massive agricultural projects. banks should be prepared to lend toward agriculture with a very low interest. "Ti ebi ba ti kuro ninu ise, ise bu she". ![]() 1 Like |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by redcliff: 1:30pm On Dec 08, 2015 |
ril19: lmao! 1.4trn is more than 15 percent i guess. |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by seunmsg(m): 1:30pm On Dec 08, 2015 |
baralatie: Oil is not the only source of funding the national budget. And besides, GEJ never remitted all the earnings from crude sale during his regime. Go and pick up a copy of PWC's report on the forensic audit of NNPC and digest the details. I don't have the time to argue about what is obvious. 2 Likes |
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