Prior to the 2019 election, president Buhari assures the Nation that he still possess the magic of the 80's in making Nigeria one of the best economic Nation in the world. Unfortunately, many of those promises had suddenly turn to an heresy.

However, the recent comment by the president on the state of the economy is quiet appalling which necessitates these 3 key questions.


1. Some months ago, the president told Nigerians that the recovered loot is large enough to fund our budget. Since we proposed to borrow money to fund our budget, this means the huge recovered loot are still intact for economic use. Where are this funds?

2. The minister of Information once told us backed by the finance minister that the TSA gathered so far is about 1Trillion naira. What is the purpose of this fund?

3. Minister of state for petroleum highlighted the numbers of barrel we are producing per day to about 1.2 million thereabout, if you multiply 1.2million barrel $48 by 30 × 12 months we get a reasonable input. Where are this funds channel to? custom alone generate 2 trillion naira in a year, let alone our port authorities. Where are this funds channel to. Is Nigeria really broke?


My take

With the state of the economy where money is not fully in circulation, what is the purpose of keeping those funds while Nigerians suffers hunger. From the police, civil servants etc are exposed to months of unpaid salaries while we have some money kept in some coven for "Mirage use".

Nigeria is not broke...we are saving, as the past administration couldn't save

Abeg make we spend the money before hunger kill us, the money not meant to subsidies religion alone. Common Noddles self don increase, rice self na no go area. Oba of Lagos self don join wailers, Father Mbaka don take style dey lament.

Stoical:
Nigeria is not broke...we are saving, as the past administration couldn't save

Buhari is more of a miser than an ecconomist

kinibigdeal:
Prior to the 2019 election, president Buhari assures the Nation that he still possess the magic of the 80's in making Nigeria one of the best economic Nation in the world. Unfortunately, many of those promises had suddenly turn to an heresy.

However, the recent comment by the president on the state of the economy is quiet appalling which necessitates these 3 key questions.


1. Some months ago, the president told Nigerians that the recovered loot is large enough to fund our budget. Since we proposed to borrow money to fund our budget, this means the huge recovered loot are still intact for economic use. Where are this funds?

2. The minister of Information once told us backed by the finance minister that the TSA gathered so far is about 1Trillion naira. What is the purpose of this fund?

3. Minister of state for petroleum highlighted the numbers of barrel we are producing per day to about 1.2 million thereabout, if you multiply 1.2million barrel $48 by 30 × 12 months we get a reasonable input. Where are this funds channel to? custom alone generate 2 trillion naira in a year, let alone our port authorities. Where are this funds channel to. Is Nigeria really broke?


My take

With the state of the economy where money is not fully in circulation, what is the purpose of keeping those funds while Nigerians suffers hunger. From the police, civil servants etc are exposed to months of unpaid salaries while we have some money kept in some coven for "Mirage use".

oil company gets Lion share of the 1.2 billion down from quota of 2.1 billion mind you.

Why are you lying
Which federal servant is being owed

kinibigdeal:
Prior to the 2019 election, president Buhari assures the Nation that he still possess the magic of the 80's in making Nigeria one of the best economic Nation in the world. Unfortunately, many of those promises had suddenly turn to an heresy.

However, the recent comment by the president on the state of the economy is quiet appalling which necessitates these 3 key questions.


1. Some months ago, the president told Nigerians that the recovered loot is large enough to fund our budget. Since we proposed to borrow money to fund our budget, this means the huge recovered loot are still intact for economic use. Where are this funds?

2. The minister of Information once told us backed by the finance minister that the TSA gathered so far is about 1Trillion naira. What is the purpose of this fund?

3. Minister of state for petroleum highlighted the numbers of barrel we are producing per day to about 1.2 million thereabout, if you multiply 1.2million barrel $48 by 30 × 12 months we get a reasonable input. Where are this funds channel to? custom alone generate 2 trillion naira in a year, let alone our port authorities. Where are this funds channel to. Is Nigeria really broke?


My take

With the state of the economy where money is not fully in circulation, what is the purpose of keeping those funds while Nigerians suffers hunger. From the police, civil servants etc are exposed to months of unpaid salaries while we have some money kept in some coven for "Mirage use".

1) U can't spend money without the national assembly approving it and those money recovered still have cases in court, so we have to wait for the judiciary to finish the process before we share

2)The TSA is a federation account, all the money there belong to the federation not the federal government, States, agencies, universities, polytechnic funds are there
So that 2.5 trillion is very small money.... Please when ever u hear big money just divide it by our population so u understand how small it is

3) the oil revenue is shared, Nigeria gets 55% and out of this the NDDC is founded, the 13% is removed and the rest shared, between state fedral and local government

Now look at our budget and tell urself would this money found this budget??
That's y we say we are broke

mrvitalis:

1) U can't spend money without the national assembly approving it and those money recovered still have cases in court, so we have to wait for the judiciary to finish the process before we share

2)The TSA is a federation account, all the money there belong to the federation not the federal government, States, agencies, universities, polytechnic funds are there
So that 2.5 trillion is very small money.... Please when ever u hear big money just divide it by our population so u understand how small it is

3) the oil revenue is shared, Nigeria gets 55% and out of this the NDDC is founded, the 13% is removed and the rest shared, between state fedral and local government

Now look at our budget and tell urself would this money found this budget??
That's y we say we are broke

Who is now approving the money being spent by this regime when the budget is not yet recognized? Who approved those bail out funds. Bro, your point one is out of it as the president possess some executive power to do that


As per your second point, you seems not to understand yourself fully well. That was the purpose of TSA before PMB took over power. You don't need to divide it when we are not sharing the money per population, you add to the nation targets.
Maybe you should ask the banks, schools and whatever. They can't even assess the funds, and that is why banks are having problem now


What happen the percentage gotten by the FG