kaludestiny10:

You forgot to also include 400 pieces of Toyota Camry, 2020 model.

I even forgot.
foolish Nigerians will be happy they are making more money but things continue to get worst.

I will believe them once I start seeing impact of the money they are generating in the life of common man

So only one section make this kind of money every day and this government are saying there's no money .

ManirBK:
6,000,000,000 x 366 =
2,196,000,000,000. Hope the
borders remain closed for a year.

Ali is a thief, nigeria was making 4-5billion daily prior to border closure, but now making only 6billion after all anti-protocols are being checked n u want us to applaud this shit?
Anything less than 20billiion is unacceptable.

Where is the money? this kind of money when check cannot be trace to any government account, at most, someone will only be arrested for spreading fake news and that will be the end of the story

Audio money.

If Nigeria makes 150billion monthly from customs only.

Then why is Buhari and his gang of criminals complaining of Nigeria being broke.

Another lie and misinformation for gullible zombies again

pacino26:
Someone remind me why our debt profile is still rising if the NCS is making this much daily?

Kindly raise a bond on the generated revenue and execute capital projects with it then.


Las las Na audio revenue.

1.Oil accounts for 80-90% of our income
2.For us to earn a sufficent income from oil, the oil price has to be above what is the breakeven price for Nigeria(the price at which exploration costs and taxes have been paid and we still have enough left over for a profit)
3. Nigeria's breakeven oil price has been high. In 2012 it was $120. In 2017 it is $139
4.Today, we need oil to sell above $140 per barrel to earn a sufficent profit.
5.Since 2009, oil has never risen above our breakeven oil price. (Debts were forgiven in 2006, and we paid off the difference..so debts prior to 2006 don't count)
6.Since 2015, oil has never risen above 80 dollars, and has gone as low as 30 dollars...meaning we lose 60-90 dollars per barrel of oil sold since 2015.
7.So, Nigeria has to take loans.
8.And no, it does not excuse government incomeptence.

Audio money

kittykollinxx:
Audio money! With all the generated and remitted funds, the country will still borrow to fund next year's budget

With all the money America makes why do they owe trillions of dollars?

[s]

voltron14:


With all the money America makes why do they owe trillions of dollars?

[/s]

[s]

Officialgarri:


You think the Government is dumb and doesn't have anything to gain when they declared the border be closed?

Government policies are beyond what you read on Nairaland.
Infact, it's a shame that a forum as big as Nairaland doesn't promote intelligent discussions, advantages and disadvantages of various policies.
Rather, it promotes mediocre, ignoramus and "first to comment" people.
No dedicated threads for experts in certain fields, no philosophy, no critical thinking.
I think twitter is better than here

[/s]

Officialgarri:


You think the Government is dumb and doesn't have anything to gain when they declared the border be closed?

Government policies are beyond what you read on Nairaland.
Infact, it's a shame that a forum as big as Nairaland doesn't promote intelligent discussions, advantages and disadvantages of various policies.
Rather, it promotes mediocre, ignoramus and "first to comment" people.
No dedicated threads for experts in certain fields, no philosophy, no critical thinking.
I think twitter is better than here

stop ranting! the Nigerian government is as dumb as fvck. does this borrow borrow government looks like anything that rakes in 6b daily? the worst part is that the money goes to the dullard's cabal, 6b daily yet NASS is crying for money, boko boys everywhere, bandits all over the country, roads are on potholes, maybe you should take a survey on how many Nigerians eat a good meal once a day and bring the report here, Mr critical thinker!

lexy2014:


D impact has been felt. Recent data released by d NBS shows that inflation has increased to 12%, an all time high

Negative impact

ManirBK:


https://thenationonlineng.net/border-closure-customs-rakes-in-n6b-daily/?

from borders only o.we never talk about petroleum,education and other taxes.yet we dey borrow money.so I ask,na counterfeit we dey generate?.

If this amount is made daily as claimed by one Agency, then why are we still borrow everyday?

johnmartus:
No wonder northern said no to restructuring.

Meaning?

2020 budgeted non-oil revenue is 5.5 trillion. So this almajiri is telling us that NPA alone is going to generate 2.2 trillion. That is 40% of the total non-oil revenue projection for whole country. Then VAT, Exports, etc are not included yet o.

Why then is the government borrowing more money upandan na

Government of propaganda, by propaganda, for gullible Buharists

ManirBK:
6,000,000,000 x 366 =
2,196,000,000,000. Hope the
borders remain closed for a year.

After 1 year, the same you will be here to tell us how PDP made sure there was no money to do anything.

Its so sad that not everyone understands this article. They used to collect 4 to 5billion daily but now collect 5 to 6billion. There is only a rise in about 1billion.

Does this warrant a total closure of land border?

Why not open up more ports in the country? You decongest Lagos and then you open up more source of revenue.
Then after this, you can shut all land border?

Why don't we first create palliative measures before we use sledgehammer.

We still haven't disabused our minds from Military mentality

ManirBK:
6,000,000,000 x 366 =
2,196,000,000,000. Hope the
borders remain closed for a year.

Read the article again sir. Your calculation doesn't take into account that the revenue before closure was 4 to 5 billion. If that is so, there is only a rise in 1billion which is 365billion in a year (1billion USD)

Meaning is that if every region control their resources no national cake again. And those who sponsoring bokoharram should ready for inevitable disaster await them.

alizma:

Meaning?

maxjax:
and dem still dey borrow

I tire ooo

Gnaeusmagnus:


Six billion may seem like a lot, but at the end of the day, our budget is about 11 trillion, when it should be something like 100 trillion if not more.

Nigeria's main source of income is oil Since 2014, oil has been selling at least 50-90 dollars per barell below the price we need it to make a profit. And as a result, we have had to take loans to keep the heads above water. And the loan taking won't stop until we have oil at $140 per barrel and above (which is where we need it to be).

And the loans past and present have to be paid. Note that Bubu is not only paying for loans he took , he is also paying back loans taken before he came into office.....

So a large chunk of that 6billion goes into paying loans.

When I tell people I don't vote for APC or PDP...they laff at me, and even accuse me of lying. Well, the solution to Nigeria's financial problem is to become an industrial nation which exports industrial products. And APC has no policy in that regard. Na to share oil money they do. Sadly PDP is like them in that regard.

These reasons and many more

Lot of people don't understand the real situation of Nigeria.

How do we get the right leaders, only if APC or PDP can mistakenly field the right person

Officialgarri:


You think the Government is dumb and doesn't have anything to gain when they declared the border be closed?

Government policies are beyond what you read on Nairaland.
Infact, it's a shame that a forum as big as Nairaland doesn't promote intelligent discussions, advantages and disadvantages of various policies.
Rather, it promotes mediocre, ignoramus and "first to comment" people.
No dedicated threads for experts in certain fields, no philosophy, no critical thinking.
I think twitter is better than here

I expected in ur comment to sell to the man those government's gains derived from the boarder closure since u r the government spokesman.
Y is this phantom figure not 'audio' money when Buhari will stil run to China to borrow money?
Just a few months ago, almost all the government agencies were given themselves a pat on the back for generating astromical revenues and yet the coutry is broke?

Yet they still want to borrow.

F00ls.

that figure is propaganda..lie lie

peeddy:
Who else is feeling that the amount mentioned is audio? If it's true as they are claiming it means with this and other revenue generating sectors of the economy should be enough to finance our budget and have more than enough to save and borrow other nations in need rather than constantly seeking for Chinese loan

Why then is the Government borrowing?

Gnaeusmagnus:


Six billion may seem like a lot, but at the end of the day, our budget is about 11 trillion, when it should be something like 100 trillion if not more.

Nigeria's main source of income is oil Since 2014, oil has been selling at least 50-90 dollars per barell below the price we need it to make a profit. And as a result, we have had to take loans to keep the heads above water. And the loan taking won't stop until we have oil at $140 per barrel and above (which is where we need it to be).

And the loans past and present have to be paid. Note that Bubu is not only paying for loans he took , he is also paying back loans taken before he came into office.....

So a large chunk of that 6billion goes into paying loans.

When I tell people I don't vote for APC or PDP...they laff at me, and even accuse me of lying. Well, the solution to Nigeria's financial problem is to become an industrial nation which exports industrial products. And APC has no policy in that regard. Na to share oil money they do. Sadly PDP is like them in that regard.

Your last paragraph is nothing but the truth... Funny enough, it is not even rocket science... It is simpler than most people dare to think or believe.

edoairways:

Seun your mentor had been vehemently criticized for this rather listen to complains, he is just silence about the whole thing

Shouldn't blame Mr. Seun.... He is all about profits!!! If the major visitors to his forum are bereft of needed mental space for such topics and discussions, it would be financially suicidal to major on them.

Create such threads, push them to FP, and see how few the pages will run with viewers with even fewer contributors... This is the exact opposite of threads on celebrities, IPOB, etc...

Gnaeusmagnus:


1.Oil accounts for 80-90% of our income
2.For us to earn a sufficent income from oil, the oil price has to be above what is the breakeven price for Nigeria(the price at which exploration costs and taxes have been paid and we still have enough left over for a profit)
3. Nigeria's breakeven oil price has been high. In 2012 it was $120. In 2017 it is $139
4.Today, we need oil to sell above $140 per barrel to earn a sufficent profit.
5.Since 2009, oil has never risen above our breakeven oil price. (Debts were forgiven in 2006, and we paid off the difference..so debts prior to 2006 don't count)
6.Since 2015, oil has never risen above 80 dollars, and has gone as low as 30 dollars...meaning we lose 60-90 dollars per barrel of oil sold since 2015.
7.So, Nigeria has to take loans.
8.And no, it does not excuse government incomeptence.

Thanks for the refreshing crash course on Petroleum Economics. Proactive thinkers have continually advocated for alternative income sources for the government. One thing that is clear is that no matter the price of crude in the international market, Nigeria still makes money just that such funds get into the hands of the anointed IOCs who determines and declare production costs per barrel (matter for another day)
What are we borrowing for; recurrent capital projects and government overhead costs right? They should wake up and come with better stories. We export and produce more crude than Qatar. Remind me of their exchange rate to our naira!

My brother eh naija matter tire me. Cheers

voltron14:


With all the money America makes why do they owe trillions of dollars?

With America owing money as we do, why are they light years ahead of us in development and governance!!!