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N7trn Budget Can't Make Huge Impact - Osinbajo - Politics - Nairaland

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N7trn Budget Can't Make Huge Impact - Osinbajo by BeeBeeOoh(m): 5:04am On Dec 02, 2016
Vice President Yemi Osinbajo yesterday confirmed that the Federal Government has proposed about N7 trillion as budget estimate for the 2017 fiscal year but said it could not make a huge difference in a N90 trillion economy like Nigeria’s.

Daily Trust had exclusively reported on Thursday that President Muhammadu Buhari proposed a N7.2 trillion budget for 2017.

Speaking yesterday after visiting two agricultural factories in Sagamu, Ogun State, Osinbajo said the Federal Government believed very strongly that it could not deliver on its economic agenda without a serious partnership with the private sector.



He stated: “Our entire budget size for 2016 is something in the order of just over N6 trillion, and we will probably be moving to about N7 trillion in the 2017 budget. But N7 trillion is certainly not the kind of money. It does sound like a fair amount of money, but certainly, it is not the kind of size that can really make a huge difference in a N90 trillion economy such as we have.

“So, the real issue is that the contribution of the Federal Government is catalytic, the Federal Government can only make some catalytic contributions in terms of infrastructure and some incentives for the private sector.

“The real contribution is going to come from the private sector and that is why these partnerships are absolutely important to us, and what we are looking at is some game-changing type of projects, such as we have here. The types of projects that can make a real difference, because when we are talking about backward integration, the whole rural value chain.”

The vice president said President Buhari had talked very much about diversifying the economy as a way out of the current recession, saying “It’s the right and proper thing to do for the country.”

Osinbajo said: “When we’re saying agriculture is the way to go, from agriculture, we can employ a lot of people and then the whole value chain, from farm to table; we can do so much. That requires serious investment, it requires the types of enterprises where significant amounts of resources will have to come, in order to make that difference. So, we’re trying to partner with the kinds of serious investors, serious businesses that can really make a difference.

“And I think that this project is one such investment that I believe will make a significant difference. From listening here today, especially all about the local products, the crops and grains that are going to be used in this factory; Sourgum, the feed mill factory, wheat; all these are for us right on point. With some of what we’re getting, the better yields coming from the wheat that we see today, we think that what you’re doing is going to be really tied to that, because we must be self-sufficient, even in wheat production.

“We thought that was impossible a few years ago, but what we’re seeing now is that there are actually better yielding seeds that we can lay our hands upon, that can increase the yield, especially in wheat, and I think that this tied very well with that. At the moment, there is a shortage of animal feed everywhere, especially because of the shortage of maize. So, the feed mill is going to be absolutely important in achieving some of our objectives.

“The sorghum mill is really a big attraction, so we think that what you are doing is really spot on, it’s really the right way to go and we’re committed to supporting the Honeywell Group in ensuring that this happens and we’ll do all that’s required to make sure that this projects succeeds. We think that there are very very important synergies with other areas of the economy as well and we naturally expect that lots of jobs will come from this, as that is important to us here will be plenty of industrial opportunities, quality jobs that’ll mean more taxes as well.”

http://www.dailytrust.com.ng/news/general/n7trn-budget-can-t-make-huge-impact-osinbajo/174160.html

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by Nobody: 5:07am On Dec 02, 2016
Osinbajo and his team are clueless.


I am sure the implementation of 2016 budget is not up to 30%

40 Likes

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by madridguy(m): 5:18am On Dec 02, 2016
In Sai Baba we trust.

2 Likes 1 Share

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by Flexherbal(m): 5:41am On Dec 02, 2016
Politicians !
Re: N7trn Budget Can't Make Huge Impact - Osinbajo by Mynd44: 6:33am On Dec 02, 2016
Re: N7trn Budget Can't Make Huge Impact - Osinbajo by Ikwokrikwo: 6:35am On Dec 02, 2016
Excuses never end

17 Likes 1 Share

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by ivandragon: 6:38am On Dec 02, 2016
the VP is being factual. but it is not enough to commission investments without sustaining the socioeconomic environment to ensure the business prospers (a la Erisco).

& this has been the case since the 80s & which is why its silly to heap all blame on the immediate past administration.

this regime should first of all, get its governance issues right. its fighting loosing battles on too many fronts.

its priority right now should be to bring the nation together & harness its potentials in a fair, humane & productive manner.

19 Likes 1 Share

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by nan4jos: 6:44am On Dec 02, 2016
We hear
Re: N7trn Budget Can't Make Huge Impact - Osinbajo by freeze001(f): 7:00am On Dec 02, 2016
D budget never even reach Senate hand, they are already preparing Nigerians for more motion without movement, perpetually stuck in a rut. Osunbade is of course the mule used to deliver such dead messages as usual.

19 Likes 2 Shares

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by Boleyndynasty2(f): 7:33am On Dec 02, 2016
undecided undecided we don't need huge impact, a tiny little change will be appreciated. Stop with all the excuses already. lipsrsealed undecided

4 Likes

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by drss2(m): 9:02am On Dec 02, 2016
duara govt at war with itself. sad tufiakwa!!!

3 Likes

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by Godprotectigbos(f): 9:28am On Dec 02, 2016
osinbande

5 Likes 2 Shares

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by richidinho(m): 9:32am On Dec 02, 2016
Even Jonathan's tiny budget......

Someone shld help me complete it grin

5 Likes 1 Share

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by onatisi(m): 9:36am On Dec 02, 2016
Just 2 trillion naira can change Nigeria production output if judiciously and effectively spent.

16 Likes 3 Shares

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by BeeBeeOoh(m): 10:03am On Dec 02, 2016
onatisi:
Just 2 trillion naira can change Nigeria production output if judiciously and effectively spent.

Our problem in this country is that we have thieves as leaders & representatives. Just imagine, N6.06trn of 2016 budget has gone down the drain & they've presented N7trn+(another budget of change with no impact) budget again.

Lalasticlala, Mynd44

8 Likes 1 Share

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by Pavarottii(m): 10:03am On Dec 02, 2016
Normal of APC! Already telling us to anticipate their failure.

The irony about this whole thing is that zombies still don't believe. That buhari and his friends are bunch of Fraudsters.

6 Likes

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by dunkem21(m): 11:53am On Dec 02, 2016
By 2019, our budget will be in the league of N30trillion.. yet, nothing to show..


God bless GEJ.



The poster below sha.. Sorry o cheesy

5 Likes

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by davibid: 11:54am On Dec 02, 2016
angry

6 Likes 1 Share

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by jmoore(m): 11:54am On Dec 02, 2016
Sell all zombies into slavery, you can get $1 trillion from it. undecided

2 Likes

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by proxitaly: 11:54am On Dec 02, 2016
How will it make impart? When a lawyer is the head of the economic team and the chairman don't have certificate?

6 Likes

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by MrImole: 11:54am On Dec 02, 2016
Who are these people?

1 Like

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by Iamvictor(m): 11:55am On Dec 02, 2016
Which budget is making any impart since you people took the mantle of leadership of this country?

6 Likes

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by gurunlocker: 11:55am On Dec 02, 2016
One thing I'm sure of is that the 4 years of APC will be a waste and set this country back 30 years......

2 Likes

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by AreaFada2: 11:56am On Dec 02, 2016
ivandragon:
the VP is being factual. but it is not enough to commission investments without sustaining the socioeconomic environment to ensure the business prospers (a la Erisco).

& this has been the case since the 80s & which is why its silly to heap all blame on the immediate past administration.

this regime should first of all, get its governance issues right. its fighting loosing battles on too many fronts.

its priority right now should be to bring the nation together & harness its potentials in a fair, humane & productive manner.

You might as well be talking to a stone than this current FG. shocked

5 Likes

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by ephi123(f): 11:56am On Dec 02, 2016
Na so.

Already preparing excuses even before they've started 2017 angry

2 Likes

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by lomprico(m): 11:56am On Dec 02, 2016
i am not understanding o!

PDP steal scatter! yet we no suffer like this.
PDP never passed a budget as high as the 2016 budget plus their "tif tif", yet we no suffer like this.

now osibade is saying 7 trillion budget will not get anywhere in fixing the economy. where is the money going??
because things are getting worse in all sectors everyday and these evil leaders are claiming all loopholes are blocked. yet we were far batter during when they claimed Pdp were looting us dry.

i am still not undastanding o!

6 Likes

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by Chikelue2000(m): 11:56am On Dec 02, 2016
D worst mistake of dis administration is making people of no worth to preside over heavy matters. Who is Osinbade to head d economic team?

2 Likes

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by Poorboy: 11:57am On Dec 02, 2016
Hmmm ok ooo
Re: N7trn Budget Can't Make Huge Impact - Osinbajo by justicejay(m): 11:57am On Dec 02, 2016
Pastor una too don join lie mohammed group of school abi?
And why won't dat be enough? Was it the same reason made
Sachet water #20
Gala turn #60
Handkerchief #70
Sandine #300?

2 Likes

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by klax(m): 11:58am On Dec 02, 2016
Biko what kind of govt us this So in the name of almighty God so how much trillion or quadrillion will be enough for Buhari and APC

God why did you punish us this much by allowing Nigerians to vote for this kind of govt God why God why Pls why

2 Likes

Re: N7trn Budget Can't Make Huge Impact - Osinbajo by seunaj: 11:59am On Dec 02, 2016
When this year's budget was presented personally by PMB, the hope was so high and we all called it BUDGET OF CHANGE. I am sorry, we haven't seen the Change yet, perhaps it has been a budget of negative change. 7trillion or 10trillion, I think the major problem of this administration has been implementation. Nothing has changed, except for the worse.

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