mej67:
Someone tell this woman to shut up

PapaBrowne:
Apparently we have the wrong Finance Minister.
In times of Economic crisis, you need the best of heads and this lady doesn't appear like one of them.

Borrow locallyThe question is when the local economy is comatose, how would the populace buy bonds to borrow the FG money. You buy bonds when there is excess liquidity and you want to save long term. There is no money in the system, hence there is gonna be little or no investment in bonds. Worse still, Nigeria has been taken off the Emerging Markets Bond Index, so no Foreign money coming into our bonds. When that happened, the FG said, to hell with JP Morgan.


Economic management is the job of an Economist. This lady, although with a basic education in Economics is an Accountant by experience and nothing more. The ministry of Finance manages our economy. She would have been better off as an Auditor General. Financial Management in economic terms is a totally different ball game. And bad enough, her highest degree is a Post Graduate Diploma.

You set out a 6 trillion Naira budget with an oil price benchmark of $38 when oil is trading at $36 and going downhill. First error.
You decide you will raise a chunk of you finance form custom duties and taxes. You fail to realise that because the economy is weak and dollar rate is high, there would be much less importation, hence reduction in your income from customs.
Also you forget that taxes are on profits, so with a weak economy most companies would declare losses which means they would have no tax to give to you.

I fear for Nigeria. APC has already started out on a terribly wrong footing. First it appear to have no direction at all. And secondly it has the wrong kind of people running its affairs. In a time of crisis, you need the best brains AND especially those fit for purpose. Kemi Adeosun is not capable of running our economy especially in a time like this.
.

PapaBrowne:
Apparently we have the wrong Finance Minister.
In times of Economic crisis, you need the best of heads and this lady doesn't appear like one of them.

Borrow locallyThe question is when the local economy is comatose, how would the populace buy bonds to borrow the FG money. You buy bonds when there is excess liquidity and you want to save long term. There is no money in the system, hence there is gonna be little or no investment in bonds. Worse still, Nigeria has been taken off the Emerging Markets Bond Index, so no Foreign money coming into our bonds. When that happened, the FG said, to hell with JP Morgan.


Economic management is the job of an Economist. This lady, although with a basic education in Economics is an Accountant by experience and nothing more. The ministry of Finance manages our economy. She would have been better off as an Auditor General. Financial Management in economic terms is a totally different ball game. And bad enough, her highest degree is a Post Graduate Diploma.

You set out a 6 trillion Naira budget with an oil price benchmark of $38 when oil is trading at $36 and going downhill. First error.
You decide you will raise a chunk of you finance form custom duties and taxes. You fail to realise that because the economy is weak and dollar rate is high, there would be much less importation, hence reduction in your income from customs.
Also you forget that taxes are on profits, so with a weak economy most companies would declare losses which means they would have no tax to give to you.

I fear for Nigeria. APC has already started out on a terribly wrong footing. First it appear to have no direction at all. And secondly it has the wrong kind of people running its affairs. In a time of crisis, you need the best brains AND especially those fit for purpose. Kemi Adeosun is not capable of running our economy especially in a time like this.
.

NavierStokes:
APC believes GEJ and Iweala inflated the size of the economy, but then decide to borrow based on a debt to GDP ratio of 12[-]. Their hypocrisy and[b] villification of the previous administration [/b]is revealed with each passing day.

7lives:


Every oil producing country have a SWF sovereign wealth fund account, Norway alone have as much as $830 billion wetin PINDEEPIN save for Nigeria?
In my opinion baba should do whatever he can to keep the country afloat while he recovers the looted billions.

PapaBrowne:
Apparently we have the wrong Finance Minister.
In times of Economic crisis, you need the best of heads and this lady doesn't appear like one of them.

Borrow locallyThe question is when the local economy is comatose, how would the populace buy bonds to borrow the FG money. You buy bonds when there is excess liquidity and you want to save long term. There is no money in the system, hence there is gonna be little or no investment in bonds. Worse still, Nigeria has been taken off the Emerging Markets Bond Index, so no Foreign money coming into our bonds. When that happened, the FG said, to hell with JP Morgan.


Economic management is the job of an Economist. This lady, although with a basic education in Economics is an Accountant by experience and nothing more. The ministry of Finance manages our economy. She would have been better off as an Auditor General. Financial Management in economic terms is a totally different ball game. And bad enough, her highest degree is a Post Graduate Diploma.

You set out a 6 trillion Naira budget with an oil price benchmark of $38 when oil is trading at $36 and going downhill. First error.
You decide you will raise a chunk of you finance form custom duties and taxes. You fail to realise that because the economy is weak and dollar rate is high, there would be much less importation, hence reduction in your income from customs.
Also you forget that taxes are on profits, so with a weak economy most companies would declare losses which means they would have no tax to give to you.

I fear for Nigeria. APC has already started out on a terribly wrong footing. First it appear to have no direction at all. And secondly it has the wrong kind of people running its affairs. In a time of crisis, you need the best brains AND especially those fit for purpose. Kemi Adeosun is not capable of running our economy especially in a time like this.

PapaBrowne:
Apparently we have the wrong Finance Minister.
In times of Economic crisis, you need the best of heads and this lady doesn't appear like one of them.

Borrow locallyThe question is when the local economy is comatose, how would the populace buy bonds to borrow the FG money. You buy bonds when there is excess liquidity and you want to save long term. There is no money in the system, hence there is gonna be little or no investment in bonds. Worse still, Nigeria has been taken off the Emerging Markets Bond Index, so no Foreign money coming into our bonds. When that happened, the FG said, to hell with JP Morgan.


Economic management is the job of an Economist. This lady, although with a basic education in Economics is an Accountant by experience and nothing more. The ministry of Finance manages our economy. She would have been better off as an Auditor General. Financial Management in economic terms is a totally different ball game. And bad enough, her highest degree is a Post Graduate Diploma.

You set out a 6 trillion Naira budget with an oil price benchmark of $38 when oil is trading at $36 and going downhill. First error.
You decide you will raise a chunk of you finance form custom duties and taxes. You fail to realise that because the economy is weak and dollar rate is high, there would be much less importation, hence reduction in your income from customs.
Also you forget that taxes are on profits, so with a weak economy most companies would declare losses which means they would have no tax to give to you.

I fear for Nigeria. APC has already started out on a terribly wrong footing. First it appear to have no direction at all. And secondly it has the wrong kind of people running its affairs. In a time of crisis, you need the best brains AND especially those fit for purpose. Kemi Adeosun is not capable of running our economy especially in a time like this.
.

PapaBrowne:
Apparently we have the wrong Finance Minister.
In times of Economic crisis, you need the best of heads and this lady doesn't appear like one of them.

Borrow locallyThe question is when the local economy is comatose, how would the populace buy bonds to borrow the FG money. You buy bonds when there is excess liquidity and you want to save long term. There is no money in the system, hence there is gonna be little or no investment in bonds. Worse still, Nigeria has been taken off the Emerging Markets Bond Index, so no Foreign money coming into our bonds. When that happened, the FG said, to hell with JP Morgan.


Economic management is the job of an Economist. This lady, although with a basic education in Economics is an Accountant by experience and nothing more. The ministry of Finance manages our economy. She would have been better off as an Auditor General. Financial Management in economic terms is a totally different ball game. And bad enough, her highest degree is a Post Graduate Diploma.

You set out a 6 trillion Naira budget with an oil price benchmark of $38 when oil is trading at $36 and going downhill. First error.
You decide you will raise a chunk of you finance form custom duties and taxes. You fail to realise that because the economy is weak and dollar rate is high, there would be much less importation, hence reduction in your income from customs.
Also you forget that taxes are on profits, so with a weak economy most companies would declare losses which means they would have no tax to give to you.

I fear for Nigeria. APC has already started out on a terribly wrong footing. First it appear to have no direction at all. And secondly it has the wrong kind of people running its affairs. In a time of crisis, you need the best brains AND especially those fit for purpose. Kemi Adeosun is not capable of running our economy especially in a time like this.

According to Mrs Adeosun, “the deficits in the 2016 budget – which I based on an oil price of $38 per barrel – will more than double to N2.2 trillion.

mazeltov:
leave kemi Adeosun out of this, we shall deal with her later - so tell us your own solution to the problems and flaws you have listed in your statement or what are the possible way out to the problems you have highlighted

adconline:
They lied that the budget was going to be financed by blocking leakage and loopholes.. Now it has dawned on them that there are no magic wands to get that done.. They shouted additional revenue , but have refused to show new revenue sources.. These partisan brigands are on Utopian crack!! N2tn added to the 2016 budget is 50% and there is no sane govt that increases its budget by borrowing to fund recurrent expenditure..
BTW, borrowing locally and internationally is going to cause the Naira to further depreciate. Intl lenders must insist on NO curenncy control and removal of subsidies.. Hard times are upon us!!

Boss13:
I also doubt we have a 12% debt:GDP ratio.

PapaBrowne:
Apparently we have the wrong Finance Minister.
In times of Economic crisis, you need the best of heads and this lady doesn't appear like one of them.

Borrow locallyThe question is when the local economy is comatose, how would the populace buy bonds to borrow the FG money. You buy bonds when there is excess liquidity and you want to save long term. There is no money in the system, hence there is gonna be little or no investment in bonds. Worse still, Nigeria has been taken off the Emerging Markets Bond Index, so no Foreign money coming into our bonds. When that happened, the FG said, to hell with JP Morgan.


Economic management is the job of an Economist. This lady, although with a basic education in Economics is an Accountant by experience and nothing more. The ministry of Finance manages our economy. She would have been better off as an Auditor General. Financial Management in economic terms is a totally different ball game. And bad enough, her highest degree is a Post Graduate Diploma.

You set out a 6 trillion Naira budget with an oil price benchmark of $38 when oil is trading at $36 and going downhill. First error.
You decide you will raise a chunk of you finance form custom duties and taxes. You fail to realise that because the economy is weak and dollar rate is high, there would be much less importation, hence reduction in your income from customs.
Also you forget that taxes are on profits, so with a weak economy most companies would declare losses which means they would have no tax to give to you.

I fear for Nigeria. APC has already started out on a terribly wrong footing. First it appear to have no direction at all. And secondly it has the wrong kind of people running its affairs. In a time of crisis, you need the best brains AND especially those fit for purpose. Kemi Adeosun is not capable of running our economy especially in a time like this.
.

porka:


Don't mind them Sir.

They thought that Nigeria's economy is like Lagos State where you direct LASTMA to confiscate people's vehicles in order to generate 'IGR'.

They are now discovering that it's one thing to target MTN for N1trn fine to fund your budget, it's another thing for MTN to be cowed like an average Lagos motorist would.