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Nairaland Forum / Nairaland / General / Politics / Interrogating The Budget Of Buharinomics, By Femi Aribisala - Premium Times (11693 Views)
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Re: Interrogating The Budget Of Buharinomics, By Femi Aribisala - Premium Times by micayo(m): 9:54pm On Jan 06, 2016 |
obailala: You don't understand yourself. You beefing on people who are way out of your league. Smarter, greater and better than you in everything. You supporting a government that doesn't work and blame those who have to guts to stand up against them with great eloquence greater than that of yours or any other pathetic loser. 2 Likes 1 Share |
Re: Interrogating The Budget Of Buharinomics, By Femi Aribisala - Premium Times by vislabraye(m): 10:18pm On Jan 06, 2016 |
erunz: And some people will shout wailing wailer fir pointing out this anomaly. Shame on the zombies. |
Re: Interrogating The Budget Of Buharinomics, By Femi Aribisala - Premium Times by vislabraye(m): 10:23pm On Jan 06, 2016 |
Bevista: Just make it brief. How can you defend the presidency for allocating a higher budget than what we used to have ? How can information get more money than agriculture. |
Re: Interrogating The Budget Of Buharinomics, By Femi Aribisala - Premium Times by shammah1(m): 11:03am On Jan 07, 2016 |
You're the one that needs to wake up. There's nothing like hate there. The facts and figures are there. Femi nailed it. Stop patronizing lies and fake change. The budget is so ridiculous and sham ALVA001: |
Re: Interrogating The Budget Of Buharinomics, By Femi Aribisala - Premium Times by Image123(m): 11:15pm On Jan 10, 2016 |
If there is anybody I can vouch for in Buhari’s Cabinet, it is Senator Udoma Udo Udoma. I have known him, and his best friend Keem Bello Osagie, for 30 years. All three of us are graduates of Oxford University, England, although I was there before him and Keem. Udoma is as sharp as a razor; he is one of the most intelligent people I know. Better still, he is a man of unimpeachable integrity. Udoma cannot be bought. He has a very successful law practice; the last thing he would do is fiddle with public funds.This comedian Aribisala should go and sit down, or maybe cool off in detention or something. All he managed to tell us here is that he also went to Oxford. All the other flattery of Udoma is not selling. It is contradictory to what follows next. Udoma is smart, sharp, trusted, can't be bought but is in charge of all you are writing against. Senseless and caseless. An unintelligent way to absolve his so called friend of blame. Planning in a hurryA round of foolish rant begins. If the President has not yet presented the appropriation bill, this fellow will be among the chief wailers complaining about slowness and ministers not hitting the ground running. It is not compulsory or in the constitution that ministers must be put in government June. What if the President himself was sworn in in November for instance, we must wait six months before the next year budget or there are no persons working in that ministry and office? Udoma is not complaining or resigning but this busy body is. Also, counter trading is not antediluvian. Countries all over the world are involved in counter trading. Even the past PDP government did some counter-trading. This man should focus on his seminary work and stop displaying his rustiness all the time. Pretend BudgetActually, there is no pretense. Anybody that reads the appropriation bill document sent or listened to the President's speech will see that there was no mincing of words. There were comparison with the previous budgets, there was talk about us been in hard times and there is a lot of borrowing stated to be done. That is not a pretense of been rich. That is the reality we face. Anybody that uses his brain will realise that our economy needs money to be pumped into it to resuscitate. The oil is not expected or depended on for the lionshare of the nation's income again. Oil is just about 30% of the budget estimates for revenue. This is a very neat trick. In 2015, the total federal budget was N4.45 trillion naira. In 2016, in the middle of an economic downturn, this has been increased dramatically to N6.08 trillion. The new 2016 budget is based on the price of oil being $38 a barrel, ignoring the fact that the price has already fallen below that to $36. Indeed, the IMF projects the price might fall even further in 2016 by $5 to $15; bringing it down to as low as $20. But the government is not prepared to contemplate that eventuality. How can the APC enjoy the trappings of power if, after so long in the political wilderness, its turn is now to be constrained by austerity?30% of total budget is not a major constraint. The FG is planning to source 70% from other sources and means. The money from oil also factors on plugging leakages of corruption in the oil sector, pipeline vandalism, increase in production etc. It all balances even when the crude price drops. This is even better than the sham the harvard professor coordinating minister presented to us for 2015 budget. You can recall that she initially proposed at $78 per barrel. After different complaints, she came down to $65 per barrel and went about defending it talking about her having intelligence report. They also fixed at about N165 to a dollar after devaluing currency to 199naira to a dollar. Thanks to the Senate that finally approved a $53 per barrel budget, that is about $25 removed for her. Yet 2015 still saw us selling oil for way lower. The Harvard professor and other so called professionals budgeted at oil revenue to be 1.92trillion naira and non-oil to be 1.68trillion naira. So the generated revenue had about 53% expected from oil. Compare to Buhari's 2016 budget that expects about 36% from oil. Only a joker will not see the evident change and less dependence on oil. Therefore, observe the following contradictions. In the middle of looming economic adversity, the government has decided to be even more profligate than the previous administration. For example, in 2014, the budget for Aso Rock was N12 billion. In 2015, President Jonathan judiciously reduced this to N6.6 billion. But in 2016, Buhari has raised this by 50 percent to N18 billion. One of the more ludicrous aspects of this is the N3.6 billion earmarked for the purchase of an unspecified number of BMW saloon cars! These are all mere speculation and beer parlor talk without proof. The appropriation bill is easy for anyone to download and verify. A so called pastor should not be lying unnecessarily. The presidency's non-debt recurrent expenditure is about 20billion while capital expenditure is about 19billion. Total recurrent was about 24billion in 2015. |
Re: Interrogating The Budget Of Buharinomics, By Femi Aribisala - Premium Times by Image123(m): 11:15pm On Jan 10, 2016 |
If you were of the view that the president has spent too much of his honeymoon period gallivanting abroad this year, think again. N1.4 billion has been allocated for his travel expenses in 2016; N470 million more than that of Jonathan in 2015. The maintenance of the 10 aircraft presidential fleet that the president attacked as wasteful when he was asking Nigerians for our votes will cost N3.6 billion in 2016. N764 million is budgeted for the construction of recreational facilities just for Mr. President.Most of these are more lies, kindly wait for the budget to come out before all these unfounded speculation and gimmick. Voodoo BuharinomicsAnother set of lies and half-truths from a so called christain and man of God. capital expenditure for ministry of agriculture is 47billion while Information &Culture is about 6billion, these are the real monies for work/change. The half truth quoted is recurrent expenditure, these are largely monies like salaries paid to workers from two ministries merged to one. This shows more the folly of the past governments in employing so many unnecessary people doing virtually nothing into these ministries. If the FG sacks them, it is still chief wailers like these that will complain first. If the FG reduces their salaries and allowances, it is wailers that will complain most and the others like the State governments will follow suit, they are already threatening with minimum wage reduction in their states. Principally, the government has decided to go a-borrowing. It proposes to borrow N1.88 trillion in 2016; 30.9 percent of the total budget; N1 trillion more than was borrowed in 2015. This is where the whole thing gets even more ludicrous.These is a set of silly rants, we clearly do not have money. That certainly means that we have to borrow even though we do not want to. The past government borrowed even when they did not HAVE to. They borrowed in the midst of plenty, they borrowed to pay salaries and to feed on their greed, they borrowed to buy arms, they borrowed while oil sold for over $110 per barrel. that is the complaint, they borrowed when we should have been saving and left the country in huge debts and problems. For any meaningful change to occur, the present government has to initially borrow. And of course service the debts, i hope this man knows the meaning of debt servicing. This is an indictment on the previous government, thank God we voted them out. What the government now proposes to do is to increase even that usually unspent money, without first fixing the underlying lack of capacity-utilisation. Since the government actually has no structural anti-corruption policy, beyond declaring its enemies guilty without trial, all that might happen here is that we are simply making more money available for graft.You must have heard of zero budgeting, read up on it. Then there is the brilliant idea of employing 500,000 graduates as teachers in the rural areas. Quite apart from the difficulty of assembling and equipping these graduates, the cost of the project is prohibitive. A modest 50,000 monthly wage bill will come to N300 billion per annum, while the total amount allocated for education is N369 billion.Wailers must wail. See someone wailing about plan to employ half a million graduates. these are the same set that will complain with the other side of their brain/mouth that the APC has not employed millions of graduate annually. There is no difficulty in assembling or equipping job seekers. Bring out the vacancy and watch them assemble. Just fix logistics and planning, that's all. There is a special interventions funds budgeted for these kind of projects BTW about 600billion naira or so. And BTW, i am sure the government will not be paying salaries for these people from January. The programme may like start around the middle of the year with training and prunning and then they perhaps resume work around september, starting a new session. No need to jump the gun and be all pessimistic. Nigeria can be great but we need less of foolish criticisms and more of constructive and sincere criticism and encouragement where needs be. The way things are going with the so called opposition makes one afraid for Nigeria. because the opposition is so plain silly and ridiculous, and that will backfire badly/terribly if they are wrong. What will happen then is a literal worship of the current FG, mass hype, sycophancy and a tendency for the dreaded third or everlasting term for our only 'messiah'. The PDP and co should kindly get their acts together so that we avoid this. |
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