casualobserver:


For all his flaws, He is the most qualified of all the Nigerian presidents to date on finance, budgeting and accounting.

AmuDimpka:
And who said that this one is an accountant


This is the first time I year am accountant say budget deficit isn't bad

If this kan win eeeeehhhh bubu will be a saint

YorubaNiBaba:


https://dailypost.ng/2023/01/13/budget-deficits-not-necessarily-bad-tinubu-reacts-to-2023-appropriation/

Johnthejohn:
What does Tinubu know about budget

casualobserver:


Of course the caveat here is that so long as the borrowing is invested properly.

G00DHardDick:
Of course, the Budget won't be bad because you're coming to steal, destroy and cripple down Nigeria. Idiot man. Thank God PO is on board to cut down the unnecessary and irrelevant expenses of govt.

This is exactly why Nigeria urgently needs Peter obi to rescue us from these clueless old ancestors criminals. vote labour party vote obi

casualobserver:
ok he is the most knowledgeable on finance, budgeting and accounting of all past Nigerian presidents and the leading aspirants.

casualobserver:
Obasanjo got us debt relief...to what avail? all the saving was looted with nothing to show in infrastructure...electricity zero, roads zero, refineries zero, rail zero...upon all he even sold over 150 govt owned companies. Peter Obi saved money for Anambra...to what avail? People who understand money, debt and budgeting know that for a country badly in need of development, you borrow as much as you can and invest in infrastructure and social programs. The more you borrow the less there is to steal, the more you save the more there is to steal. the more you borrow the more your successor have to engage their brains to generate revenue, the more you borrow the more you can invest in creating future wealth.

Ofcourse the caveat here is that so long as the borrowing is invested properly. However in the case of Nigeria, you save money you are just saving money for your succesor to loot without doing any work. If your successor is going to loot at least leave him/her with a debt burden (hopefully for visible infrastructure) so that if he want to loot he has to work to generate increased revenue, because debt is always deducted at source from FAAC.

Johnthejohn:
What does Tinubu know about budget

Ballo1292:
He is guru in accounting and any accountant had both micro and macroeconomics as their core course while in school.

oyebanji44:


Did you know if the money wasn't enough

vhykeeytor:

Buhari did not construct the 2nd Niger bridge with any loan. The money used to construct the second Niger bridge was the repatriated fund from Abacha Loots. Infact the United State gave the condition that the money must be used for infrastructure if they are to return the loot.

oyebanji44:
Good point from tinubu


As long as it is used for the intended purpose..

Like what buhari did to the south easterner by constructing the second Niger bridge ..

Is it wise ,for any one of them to criticise buhari for borrowing loan..

Ballo1292:


This rubbish you spew was borne out of hatred and couldn't stand the test reasonable rationality.

He is guru in accounting and any accountant had both micro and macroeconomics as their core course while in school.

Johnthejohn:
What does Tinubu know about budget

Obaofaba:
Jagaban is my president....


The man is very vast with productive agendas, he knew and understand Nigeria more than any of his challengers.

He has men in every local government area in Nigeria.

His cabinet members has been known already.

Positive results will start showing from 29th May.

casualobserver:


For all his flaws, He is the most qualified of all the Nigerian presidents to date on finance, budgeting and accounting.

reddingtonblack:




You should have taken your time to digest what TInubu is saying, borrowing or collecting loan is not bad itself, countries & large scale firms sort for loan all the time to finance projects, now what you use the loan to do is what is subjective to bad or good which i agree with Tinubu.

Borrowing loan to finance recurrent expenditure is counter-productive and i guess the point Tinubu is trying to make is that how about borrowing money to finance projects
& infrastructures that will be inaugurated into generating income/revenue should be the ideal.
Imagine someone collecting loan to finance a wedding or burial, then he cries loan is bad buh when you borrow money to acquire asset, the asset itself can service its loan & repay on a short or long run depends.

IbeOkehie:


Government investment almost always results in waste, corruption and inefficiency. Government can do nothing well.

So the best advice one can give to the next government is to give over the economy to the private sector and abolish all forms of price regulation, including forex regulation.

Thanks.

Johnthejohn:
What does Tinubu know about budget

oyebanji44:
Good point from tinubu


As long as it is used for the intended purpose..

Like what buhari did to the south easterner by constructing the second Niger bridge ..

Is it wise ,for any one of them to criticise buhari for borrowing loan..

Fujiyama:


^^^
You are still repeating the error sir. As long as Bola Tinubu has never been president, then you cannot describe him as shown above. You may describe him as being the most knowledgeable (on finance etc.) of all the leading aspirants (a highly debatable assertion) but you cannot include past presidents in the comparison because he has never been president.



^^^
Ok...I'm still trying to get what your point is...

I get the impression (correct me if I'm wrong) that you disagree with Peter Obi's decision to avoid debt. Do you believe his administration should have borrowed instead? And what kind of borrowing - local currency debt or foreign currency debt?

Ballo1292:


This rubbish you spew was borne out of hatred and couldn't stand the test reasonable rationality.

He is guru in accounting and any accountant had both micro and macroeconomics as their core course while in school.

Johnthejohn:
What does Tinubu know about budget

vhykeeytor:


Whatever that's remaining would be collected at toll fee for years to come. It's a PPP...project. the government was struggling to meet up his own funding before the repatriated abacha loot came. Any money borrowed by this government was spent on hospital bill for the president, bogus allowance for politicians, payment of salaries, servicing of debt, payment of the scam called subsidies, sponsoring of pilgrimage, etc..

casualobserver:


When you hear someone talking about avoiding debt or who seems to think being debt free is a good thing or an unhealthy aversion to debt, it shows the person has no real understanding g of wealth creation. Don’t be confused buying and selling especially when you have sole distributor ship for sale whole country will make you wealthy without really understanding wealth creation and finance especially public development finance.

Debt is an instrument of wealth creation. Debt for investment is good debt for consumption is bad. So when you talk about debt, you have to distinguish what kind of debt you are talking about. Debt to pay fuel subsidy is suicidal and it is the root of our problems under Buhari. The debt incurred on subsidy every year is enough to build 1 refinery a year! If he had incited debt to fix our refineries, we wouldn’t import fuel, forex demand will be less inflation would be lower and there would be less need for subsidy because we aren’t importing fuel. Debt to build rail roads and schools is good debt because it will pay itself with a more efficient economy a better educated population who will earn more and pay more taxes.

When I see someone with an aversion for debt for debt sake or who talks about saving and cutting wastage to fuel Nigerians growth, I know the person is not serious. The is only 1 way to solve Nigerians problems going forward. Raise revenues, stop subsidies and heavy debt hopefully financed with increased taxes/ revenues. Anyone who thinks they can take Nigeria forward by cutting wastage is a clown. At most you save $1b a year. Nigeria needs to find $500-$1trillion over the next 10 years to arrest the rot. Your savings is not going to make a dent. Only carefully targeted debt investment and massive revenue increase can solve the problem.

Any clown telling you he won’t travel with entourage is just playing to the gallery, I am not saying he should cut down on entourages but how much does entourage cost? I will sell this guest house, I will sell that guest house is just insulting the intelligence of those who have any. It is not the money you save from cutting down your entourage or cutting down the presidential fleet that will make any difference to the development of the country.


Obasanjo sold all govt official quarters only for the same govt to give allowances far in excess of what it costs to run those official quarters.


Elon must is the richest man in the world he borrowed money to buy Twitter. Dangote is the richest black man in Africa, he borrowed money to build his refinery. They are both likely going to get richer as a result. There is debt and there is debt. When you hear someone talking about saving when you are undeveloped or having an aversion for debt for debt sake..trust me the person has no clue.

You need to find a way to raise revenues by or inject an average of $50b a year in the public and social infrastructure of the economy and someone is talking about savings….that’s a sign of small mindedness…..someone guaranteed to keep the country in poverty..

Johnthejohn:
What does Tinubu know about budget

casualobserver:


ok he is the most knowledgeable on finance, budgeting and accounting of all past Nigerian presidents and the leading aspirants.

Obasanjo got us debt relief...to what avail? all the saving was looted with nothing to show in infrastructure...electricity zero, roads zero, refineries zero, rail zero...upon all he even sold over 150 govt owned companies. Peter Obi saved money for Anambra...to what avail? People who understand money, debt and budgeting know that for a country badly in need of development, you borrow as much as you can and invest in infrastructure and social programs. The more you borrow the less there is to steal, the more you save the more there is to steal. the more you borrow the more your successor have to engage their brains to generate revenue, the more you borrow the more you can invest in creating future wealth.

Ofcourse the caveat here is that so long as the borrowing is invested properly. However in the case of Nigeria, you save money you are just saving money for your succesor to loot without doing any work. If your successor is going to loot at least leave him/her with a debt burden (hopefully for visible infrastructure) so that if he want to loot he has to work to generate increased revenue, because debt is always deducted at source from FAAC.

YorubaNiBaba:


https://dailypost.ng/2023/01/13/budget-deficits-not-necessarily-bad-tinubu-reacts-to-2023-appropriation/

aujile:

I agree with your points but...
No matter how good they are, if you fail to cut cost, you may still find it difficult to come out of the problem. Year in year out, our budget is always the same (a recurrent budget). More money is being spent on things that don't bring returns.