Billyonaire: The Medium Term Expenditure Framework 2012 – 2014 obtained by one of our correspondents in Abuja on Monday showed that out of a proposed expenditure of N4.83tn in 2013, the Federal Government would resort to the domestic debt market to borrow N633.85bn.

Any intelligent reader will understand that the writer is biased. But according to his data:

Between 2012 to 2014
Proposed Expenditure N4.83tn and govt "to borrow" N633.85, "based on" 'Niger Delta' oil benchmark price of $72 per barrel. (If price of oil goes up, they no go borrow) Una for go explore your own state resources help Nigeria now, Niger Delta oil money no reach to spend on infrastructure and we wan borrow. If Groundnut and cocoa is helping, may be we suppose no borrow.

Billyonaire: The Medium Term Expenditure Framework 2012 – 2014 obtained by one of our correspondents in Abuja on Monday showed that out of a proposed expenditure of N4.83tn in 2013, the Federal Government would resort to the domestic debt market to borrow N633.85bn.

Any intelligent reader will understand that the writer is biased. But according to his data:

Between 2012 to 2014
Proposed Expenditure N4.83tn and govt "to borrow" N633.85, "based on" 'Niger Delta' oil benchmark price of $72 per barrel. (If price of oil goes up, they no go borrow) Una for go explore your own state resources help Nigeria now, Niger Delta oil money no reach to spend on infrastructure and we wan borrow. If Groundnut and cocoa is helping, may be we suppose no borrow.

Billyonaire: Who is Bakare to be taken seriously ?

GAR3TH: They do realize that they can raise that money by cutting unnecessary overhead cost in government. For god sake 72% of the N4.7 trillion federal budget is recurrent expenditures. Why put the country in more debt when you can easily pay the deficit by cutting and stopping your corrupt ways.

dedeike: The problem is that most people on Nairaland do not have the patience to read thru a post before making comments.
They come with a made up mind that nothing good will happen, so they just take a glance at the headline and jump into a spree of insults and abuses.

Any objective mind who reads thru will first of all acknowledge that the FG has started early enough to make projections for the 2013 budget. It is a welcome development given our history of carelessness and late planning.

Then to the crux of the matter. The minister says our domestic debt profile has increased and we may record a huge budget deficit that may require borrowing for 2013 not 2012.
She went further to explain that the huge debt profile was due to increasing wage bil since 2005. We all know that GEJ has not been president since 20005 so it will be most unfair to isolate the president for bashing.

On the other hand, she revealed that there was over 200% increase recently. The question then is, why this astronomical rise in debt profile?
We would all recall that president GEJ increased minimum wage from N8,000 to N18,500. Even corpers now earn N19,000 monthly. All these increments will definitely increase our wage bill.
It's not rocket science to understand this.
,

ypzilanti: Many people do not understand the level of decline we are facing as a nation.

It has got to the point where anyone with the means should have a plan B just in case.

dedeike: The problem is that most people on Nairaland do not have the patience to read thru a post before making comments.
They come with a made up mind that nothing good will happen, so they just take a glance at the headline and jump into a spree of insults and abuses.

Any objective mind who reads thru will first of all acknowledge that the FG has started early enough to make projections for the 2013 budget. It is a welcome development given our history of carelessness and late planning.

Then to the crux of the matter. The minister says our domestic debt profile has increased and we may record a huge budget deficit that may require borrowing for 2013 not 2012.
She went further to explain that the huge debt profile was due to increasing wage bil since 2005. We all know that GEJ has not been president since 20005 so it will be most unfair to isolate the president for bashing.

On the other hand, she revealed that there was over 200% increase recently. The question then is, why this astronomical rise in debt profile?
We would all recall that president GEJ increased minimum wage from N8,000 to N18,500. Even corpers now earn N19,000 monthly. All these increments will definitely increase our wage bill.
It's not rocket science to understand this.
,

CyberG: Where are the bigoted, narrow minded Nigerians from the SS/SE mostly, who voted 98% for this retrogressive bastard retardeen slow president?? Have you gotten your airports, floating cities in the Niger Delta, etc yet? One man once paid about $12 B dollars to take Nigeria off the debt books just a few years ago and now, the country is > 3X more indebted with the foreign reserve and ECA almost wiped out? Yet, no new roads, constant power, better security, etc. what did the Jonadaftest retardeen do with all the money? Cassava bread and $ 1 B feeding bill? Una go suffer die foolish people!!

CyberG: Where are the bigoted, narrow minded Nigerians from the SS/SE mostly, who voted 98% for this retrogressive bastard retardeen slow president?? Have you gotten your airports, floating cities in the Niger Delta, etc yet? One man once paid about $12 B dollars to take Nigeria off the debt books just a few years ago and now, the country is > 3X more indebted with the foreign reserve and ECA almost wiped out? Yet, no new roads, constant power, better security, etc. what did the Jonadaftest retardeen do with all the money? Cassava bread and $ 1 B feeding bill? Una go suffer die foolish people!!

Kobojunkie: Does it matter what states are heavily indebted here? The problem is much of the borrowing here is for Federal projects, which remain waste pipes.

kingoflag:

You oga still dey chop $30,000/day meals abi? How much was the cost of Breakfast, Lunch and Dinner for EVERYONE in your family today?

But you wan dey here dey defend the indefensible all because of greed, myopic thinking, and the crumbs youre being given by those who run the bakery.

SMH youre a loser, dude, kill urself.

chucky234: You were patient enough to read but ended up posting a ridiculous comment,how many states currently pays the minimum wage you are talking about?
Before you look forward to 2013 as proposed why didn't you take a second to ponder at our domestic debt which stands at N5.97tn with N1.21tn of that coming between March 2011 and 2012, always think before coming out here to sell your ignorance in the open.
Mumu agbaya ode olodo.

 
https://www.youtube.com/watch?v=mEVqeaFHsHE

Demdem:



Billygoat, i know its a proposal like this one i highlighted before:

The MTEF document also showed that the Federal Government would spend N1.69tn on personnel as against the N1.65tn it proposed on the same item in 2012.

Does this makes sense especially from a govt that tells us recurrent expenditure will constantly go down. BillyGoat, use ur brain, if at al u av one.

dedeike: The problem is that most people on Nairaland do not have the patience to read thru a post before making comments.
They come with a made up mind that nothing good will happen, so they just take a glance at the headline and jump into a spree of insults and abuses.

Any objective mind who reads thru will first of all acknowledge that the FG has started early enough to make projections for the 2013 budget. It is a welcome development given our history of carelessness and late planning.

Then to the crux of the matter. The minister says our domestic debt profile has increased and we may record a huge budget deficit that may require borrowing for 2013 not 2012.
She went further to explain that the huge debt profile was due to increasing wage bil since 2005. We all know that GEJ has not been president since 20005 so it will be most unfair to isolate the president for bashing.

On the other hand, she revealed that there was over 200% increase recently. The question then is, why this astronomical rise in debt profile?
We would all recall that president GEJ increased minimum wage from N8,000 to N18,500. Even corpers now earn N19,000 monthly. All these increments will definitely increase our wage bill.
It's not rocket science to understand this.
,