PLEASE TAKE TIME TO READ

This thread is in response to the Thread by Obiagelli's https://www.nairaland.com/2265908/buharis-social-program-very-possible. In her bid to defend the Social policy of Mr Buhari, Obiagelli insulted the intelligence of Nigerians with respect to what is accrued to the Federal Government in revenue per fiscal year. Let us start by putting things in order...

Nigeria's Revenue:
Nigeria's revenue is accrued through oil export, non oil export, oil tax and non oil tax. The Federal Inland Revenue Service is statutory responsible for the collection of both oil profit tax and non oil tax. The money for oil export goes directly to the Federation Account via the NNPC. The money generated via non oil export goes directly to the federation account through relevant Agencies.

Oil Revenue:
The total sum realised through Oil export(after operational cost) and oil profit tax is known as "Oil Revenue"

Non Oil Revenue
While the sum realised through export of other commodities(after operational cost) and the money realised from non oil profit tax is called "Non Oil Revenue".

What Did Nigeria Earn Between January 2014 and January 2015?
Nigeria Total Earning:
Jan 2014 - June 2014 = N5.109trn

June 2014 - Jan 2015= N3.676trn

Total: N8.785trn

Total Oil Revenue (Oil Export Earning + Oil taxes)
= 70% of Total Revenue ie N6.15trn

*Total Non Oil Revenue (Non Oil Export + Non oil taxes)
= 30% of N8.785trn ie N2.635 trn

Jan 2014- June 2014 = N1.08trn*
July 2014 - Jan 2015= N1.556trn [N2.635trn]

Understanding FIRS 2014 Report:
FIRS announced that the sum of N4.69trn was generated in 2014. The report indicated that N2.45 trillion, representing 52.96 per cent, was collected from petroleum profit tax while N2.24 trillion, representing 47.04 per cent, was collected from non-oil taxes during the period.
Analysis
This sum(N4.69trn) is not independent of the published N8.785trn that Nigeria was said to earn between Jan 2014 and January 2014. It is a part and parcel of the total revenue.

How Much Did FG Get In 2014?
There is a consolidated Sharing formula between FG, States, LGs and Oil Producin States(13%) after operational and other associated cost has been deducted.
FG Earnings In 2014
1st Qtr: N912 billion
2nd Qtr: N864.2 billion
3rd Qtr: N924.68 billon
4th Qtr: N617.186 billion
Total 2014= N3.318trn

2014 Budget: N4.6trn
FG Projected Earning for 2014= N3.73tr
Real Earning = N3.318trn
Deficit in 2014 Fiscal Year: N1.282trn

What this means is that the money accrued to the FG was not even enough to fund 2014 budget. We had a deficit of N1.282trn.
Also note that the fall in oil price affected our earning.

Looking At 2015 Budget:
The 2015 budget(as adjusted) stand at N4.3trn.
Projected Revenue For 2015= N3.603trn
Deficit: N1.297trn (N4.3trn - N3.603trn)

This means the 2015 budget will be run on deficit of N1.297trn (as confirmed by the Senate).

Looking At Buhari's Proposal
With Buhari's proposed N1.89tr Social program, it invariably means an additional N1.89trn will be added to the projected deficit of N1.29 trn ie N3.187trn if he is to go ahead with paying of N5000 to 25 million unemployed annually, from where will he be able to make up the HUGE deficit?.

Analysing The Argument of The Pro-Buharis
Some Pro-Buharis claim that the project will be done in phase of 5m people per year. However, the problem of "How to identify these 5m beneficiaries" and what will be the for selection?
Anyway, that is for another day. Let's go by their argument...
Unemployment benefit: 5m * N5000 = N300 billion.

*The N300b is for the payment benefit alone*. Add that to logistics, overhead and operational cost that the program will incur (approx 50% ie N150billion) annually.

Total: N300b + N150b = N450b

Feeding for 40m Public School Children = N373 billion.

Subtotal: N823 billion.

Where Will Buhari Source For the estimated N823 billion?

- Remove Subsidy? Total package for petrol and kerosene subsidies plus SURE-P fund = N166.5b. That is clearly not up to 30%.

- Invest All Capital Expenditure + Subsidy? This will be a very silly move though. But adding Capital Expenditure and Subsidy will total N866.9 billion. Just a little above the projected N823billion.
Going this route means there will be no project for road, no infrastructure and other capital projects. In fact, it is synonymous to eating the present away.

- Will He Borrow? Borrowing to fund Social Welfare program is synonymous to eating away the future. That means indebting our future and a panacea to economic collapse likened to what happened to Greece if not worse. It also means increasing our already projected deficit of N1.29 trillion

What is the fate of this Social program? Feasible, Laudable or Laughable?

Reference:

http://allafrica.com/stories/201412240321.html
http://www.nigerianmuse.com/20141122005245zg/nm-projects/revenue-allocations-to-nigerias-federal-state-and-local-governments/faac-revenue-allocation-fg-states-councils-share-n593-33bn-for-october-2014/
http://article.wn.com/view/2014/12/23/FG_States_LGs_share_N628775_Billion_Federation_Allocation_in/
http://www.punchng.com/business/business-economy/non-oil-revenue-declined-by-n329bn-in-h1-2014/
http://www.noodls.com/view/A7A6C2B8BB0338D8B90249EFB82B7D2D56ABEB30?4407xxx1419359653
http://nairametrics.com/non-oil-export-earnings-fall-in-january/
http://businessnews.com.ng/2015/02/25/faac-fg-states-lgs-share-n500bn-january/
http://www.vanguardngr.com/2014/05/new-2014-budget-entry-throws-senate-confusion/
http://www.thisdaylive.com/articles/senate-nigeria-to-run-2015-budget-in-deficit/199264/
http://www.premiumtimesng.com/news/headlines/173682-budgit-analysis-2015-budget-shows-nigerian-govt-not-committed-austerity-measures-oil-price-falls.html/attachment/budgt

Lets see where this takes us. I love debates.

following...

some people get time walahi. They just dey go do research to claim they are right.

Where are the economists food don land.Where are the PDP economists and APC economists.The viewers want a good and fair logic based on statistics not sentiments and personal attacks like those below me.

Sit your ass down and let the administration come on board before you start your opposition work. You still have 4 years ahead to tackle the administration, you better don't dissipate your energy too early.

You just seem to me like those people that will be running full speed at the start of a 10,000metres marathon only to drop off mid-way.

The administration is yet to come on board, you are already being pessimistic.

will be back...

The truth is that I did not read anything you wrote up there because I know it is just a vein attempt to prove that Nigeria is doomed.

The only question I would ask you is,

If you were wrong about GEJ winning the March 28 presidential election, what makes you think you will be right about this one (the assumption that GMB's policy wont pull through)?


The fact is that you have never been in the corridor of power and have no idea how things work except from the things you're fed with by the media. Same with all of us.

Way forward: Wait for the regime to commence work and if you like, keep praying things don't work out.

Reality: GMB will be president for the next four years and whatever you do or say cant UN-VOTE him.

[s]

barcanista:
This thread is in response to the Thread by Obiagelli's https://www.nairaland.com/2265908/buharis-social-program-very-possible. In her bid to defend the Social policy of Mr Buhari, Obiagelli insulted the intelligence of Nigerians with respect to what is accrued to the Federal Government in revenue per fiscal year. Let us start by putting things in order...

Nigeria's Revenue:
Nigeria's revenue is accrued through oil export, non oil export, oil tax and non oil tax. The Federal Inland Revenue Service is statutory responsible for the collection of both oil profit tax and non oil tax. The money for oil export goes directly to the Federation Account via the NNPC. The money generated via non oil export goes directly to the federation account through relevant Agencies.

Oil Revenue:
The total sum realised through Oil export(after operational cost) and oil profit tax is known as "Oil Revenue"

Non Oil Revenue
While the sum realised through export of other commodities(after operational cost) and the money realised from non oil profit tax is called "Non Oil Revenue".

What Did Nigeria Earn Between January 2014 and January 2015?
Nigeria Total Earning:
Jan 2014 - June 2014 = N5.109trn

June 2014 - Jan 2015= N3.676trn

Total: N8.785trn

Total Oil Revenue (Oil Export Earning + Oil taxes)
= 70% of Total Revenue ie N6.15trn

*Total Non Oil Revenue (Non Oil Export + Non oil taxes)
= 30% of N8.785trn ie N2.635 trn

Jan 2014- June 2014 = N1.08trn*
July 2014 - Jan 2015= N1.556trn [N2.635trn]

Understanding FIRS 2014 Report:
FIRS announced that the sum of N4.69trn was generated in 2014. The report indicated that N2.45 trillion, representing 52.96 per cent, was collected from petroleum profit tax while N2.24 trillion, representing 47.04 per cent, was collected from non-oil taxes during the period.
[/b]Analysis[/b]
This sum(N4.69trn) is not independent of the published N8.785trn that Nigeria was said to earn between Jan 2014 and January 2014. It is a part and parcel of the total revenue.
How Much Did FG Get In 2014?
There is a consolidated Sharing formula between FG, States, LGs and Oil Producin States(13%) after operational and other associated cost has been deducted.
[/b]FG Earnings In 2014[/b]
1st Qtr: N912 billion
2nd Qtr: N864.2 billion
3rd Qtr: N924.68 billon
4th Qtr: N617.186 billion
Total 2014= N3.318trn
2014 Budget: N4.6trn
FG Projected Earning for 2014= N3.73tr
Real Earning = N3.318trn
Deficit in 2014 Fiscal Year: N1.282trn
What this means is that the money spent by the FG was not even enough to fund 2014 budget. We had a deficit of N1.282trn.
Also note that the fall in oil price affected our earning.
Looking At 2015 Budget:
The 2015 budget(as adjusted) stand at N4.3trn.
Projected Revenue For 2015= N3.603trn
Deficit: N1.297trn (N4.3trn - N3.603trn)
This means the 2015 budget will be run on deficit of N1.297trn (as confirmed by the Senate).
Looking At Buhari's Proposal
With Buhari's proposed N1.89tr Social program, it invariably means an additional N1.89trn will be added to the projected deficit of N1.29 trn ie N3.187trn if he is to go ahead with paying of N5000 to 25 million unemployed annually, from where will he be able to make up the HUGE deficit?.
Analysing The Argument of The Buharists
Some Buharists claim that the project will be done in phase of 5m people per year. However, the problem of "How to identify these 5m beneficiaries" or the criteria comes with selection?
Anyway, that is for another day. Let's go by their argument...
Unemployment benefit: 5m * N5000 = N300 billion.
*The N300b is for the payment benefit alone*. Add that to logistics, overhead and operational cost that the program will incur (approx 50% ie N150billion) annually.
Total: N300b + N150b = N450b
Feeding for 40m Public School Children = N373 billion.
Subtotal: N823 billion.
Where Will Buhari Source For the estimated N823 billion?
- Remove Subsidy? Total package for petrol and kerosene subsidies plus SURE-P fund = N166.5b. That is clearly not up to 30%.
- Invest All Capital Expenditure + Subsidy? This will be a very silly move though. But adding Capital Expenditure and Subsidy will total N866.9 billion. Just a little above the projected N823billion.
Going this route means there will be no project for road, no infrastructure and other capital projects. In fact, it is synonymous to eating the present away.
- Will He Borrow? Borrowing to fund Social Welfare program is synonymous to eating away the future. That means indebting our future and a panacea to economic collapse likened to what happened to Greece if not worse. It also means increasing our already projected deficit of N1.29 trillion
What is the fate of this Social program? Feasible, Laudable or Laughable?

[/s]

This your obsession with GMB has no equal!

Your life must be very pathetic I swear. Why don't you wait for the administration to be sworn in and start work before you start the rubbish you've chosen to embark on?

Your die-hard supporters must by now be ashamed of you already!

Lalasticlala, Seun, Ishilove, please stop giving this guy unnecessary attention by moving silly threads as this to the front page.

Stop feeding his over bloated ego please!

Modified*
Just as I expected, here is one of the few reasonable PDP supporters:

zimoni:
Leave this man alone nah. Since when did you become an economist?

He's won, he and his party have four years to deliver otherwise people shall vote them out like they did to PDP.

I believe PDP shall be back in 2019 or latest 2023.

Leave Buhari alone jarey. Let's see whether he's going to deliver or fail. Let him preside over the affair first before we judge him, I think it's too early to condemn his policy. Let's see the magic he's going to perform before we criticize him.

One thing is certain, PDP shall be back.

PDP Power.

Let us not forget that General Buhari/Osinbajo also promised to pay allowance to the elderly and disabled

Osinbajo, January 8, 2015
“The elderly and the physically challenged would also not be left out as our government would be giving them allowances.”
www.punchng.com/politics/buharill-create-720000-jobs-osinbajo/

This is a subject for another day

cc Truckpusher Anonimi Tomakint Biafranqueen Phockphockman Mogidi Altwireless Peppyluv02 Whynothetruth Mzmycoli


Special cc: Seun Lalasticlala Ishilove (Please do the needful)

Don't sweat! You're about to know PDP Government have been scamming you since 1999.
We won't be spending 90% of our budget servicing the extravagant lifestyles of few people. Keep that in mind.

Doom sayer crew.GMB hasnt been sworn in,why the rush to throw him under the bus?Looking for a bad name to hang a dog?

How do you know his social programme isnt feasible?Are you privy to some 1st hand information we dont know?

Why havent you nitpic GEJ/PDP's manifesto?Or did GEJ fulfilled the phantom"fresh air"he promised in 2011?

If you are going to cry more than the bereaved,wait till he is sworn in atleast.

Turncoat.

It's laughable, All I see is an Utopian project by the Buhari led APC government. Not feasible if I may say
Just one of those empty promises.

ozoigbondu:
Where are the economists food don land

Where are the pro-Buhari people? I love things like this... #BabaOneChance

The ultimate aim is to provide short term relief for those looking for work and to get them into work as fast as possible. Are you aware that Nigeria collects less than 40% of taxes due to her annually? If the country is able to collect 70% of taxes due to the country, we will not rely on oil revenues. Also, are you aware that Public Primary and Secondary Education is largely the responsibility of the State and Local governments?

following

Obyyyyyyyyyyyyy
Obyyyyyyyyyyyyyyyyyyyyyy
Obyyyyyyyyyyyyyyyyyyyyyy nawww,

Come and do justice...

Like d poster above said,APC won't be servicing d extravagant lifestyle of some....

In yrs time,barcanista wud be like GEJ created d conducive environment in which APC and GMB used in making Nigeria a better place...

GOD bless Nigeria..
No to xenophobia

dustydee:
The ultimate aim is to provide short term relief for those looking for work and to get them into work as fast as possible. Are you aware that Nigeria collects less than 40% of taxes due to her annually? If the country is able to collect 70% of taxes due to the country, we will not rely on oil revenues. Also, are you aware that Public Primary and Secondary Education is largely the responsibility of the State and Local governments?

In my earlier thread https://www.nairaland.com/2265570/buhari-social-program-laudable-laughable I spelt it clearly that the FG have no business with running of public Primary schools. However, the GMB incoming administration made pledge of Feeding Primary school pupils across the country, we MUST hold them accountable to their promise.

stabillo:
It's laughable, All I see is an Utopian project by the Buhari led APC government. Not feasible if I may say
Just one of those empty promises.

I am actually waiting for the Pro Buhari people to realise their folly. Last night I was so ashamed that some people were celebrating Ignorance in public glare. As in it was pathetic

barcanista:
In my earlier thread https://www.nairaland.com/2265570/buhari-social-program-laudable-laughable I spelt it clearly that the FG have no business with running of public Primary schools. However, the GMB incoming administration made pledge of Feeding Primary school pupils across the country, we MUST hold them accountable to their promise.

No doubt, the people must hold their government accountable. I sincerely hope they fulfil most of their promises unlike the outgoing government that failed to fulfil most of their campaign promises.
The most difficult one to fulfil will be the social scheme most of the others are easily achievable if the will is there.

Why are we just going back nd forth on this issue......im sure putting this as one of their campaign strategies was a collective decision by people who know all these y'all are writing....nt just a one man decision.......they arent as stupid or dumb as we might think......lets give them time to prove they can do it...lets not be pessimistic #my 2kobo on the matter

I don't just know wat to say..but it's a surety APC led govt will fail woefully ...the CHANGE they asked for is going to affect Nigeria badly...i don't have much to say...

GEJ remains my President till 2019

barcanista:
PLEASE TAKE TIME TO READ

This thread is in response to the Thread by Obiagelli's https://www.nairaland.com/2265908/buharis-social-program-very-possible. In her bid to defend the Social policy of Mr Buhari, Obiagelli insulted the intelligence of Nigerians with respect to what is accrued to the Federal Government in revenue per fiscal year. Let us start by putting things in order...

Nigeria's Revenue:
Nigeria's revenue is accrued through oil export, non oil export, oil tax and non oil tax. The Federal Inland Revenue Service is statutory responsible for the collection of both oil profit tax and non oil tax. The money for oil export goes directly to the Federation Account via the NNPC. The money generated via non oil export goes directly to the federation account through relevant Agencies.

Oil Revenue:
The total sum realised through Oil export(after operational cost) and oil profit tax is known as "Oil Revenue"

Non Oil Revenue
While the sum realised through export of other commodities(after operational cost) and the money realised from non oil profit tax is called "Non Oil Revenue".

What Did Nigeria Earn Between January 2014 and January 2015?
Nigeria Total Earning:
Jan 2014 - June 2014 = N5.109trn

June 2014 - Jan 2015= N3.676trn

Total: N8.785trn

Total Oil Revenue (Oil Export Earning + Oil taxes)
= 70% of Total Revenue ie N6.15trn

*Total Non Oil Revenue (Non Oil Export + Non oil taxes)
= 30% of N8.785trn ie N2.635 trn

Jan 2014- June 2014 = N1.08trn*
July 2014 - Jan 2015= N1.556trn [N2.635trn]

Understanding FIRS 2014 Report:
FIRS announced that the sum of N4.69trn was generated in 2014. The report indicated that N2.45 trillion, representing 52.96 per cent, was collected from petroleum profit tax while N2.24 trillion, representing 47.04 per cent, was collected from non-oil taxes during the period.
[/b]Analysis[/b]
This sum(N4.69trn) is not independent of the published N8.785trn that Nigeria was said to earn between Jan 2014 and January 2014. It is a part and parcel of the total revenue.

How Much Did FG Get In 2014?
There is a consolidated Sharing formula between FG, States, LGs and Oil Producin States(13%) after operational and other associated cost has been deducted.
[/b]FG Earnings In 2014[/b]
1st Qtr: N912 billion
2nd Qtr: N864.2 billion
3rd Qtr: N924.68 billon
4th Qtr: N617.186 billion
Total 2014= N3.318trn

2014 Budget: N4.6trn
FG Projected Earning for 2014= N3.73tr
Real Earning = N3.318trn
Deficit in 2014 Fiscal Year: N1.282trn

What this means is that the money spent by the FG was not even enough to fund 2014 budget. We had a deficit of N1.282trn.
Also note that the fall in oil price affected our earning.

Looking At 2015 Budget:
The 2015 budget(as adjusted) stand at N4.3trn.
Projected Revenue For 2015= N3.603trn
Deficit: N1.297trn (N4.3trn - N3.603trn)

This means the 2015 budget will be run on deficit of N1.297trn (as confirmed by the Senate).

Looking At Buhari's Proposal
With Buhari's proposed N1.89tr Social program, it invariably means an additional N1.89trn will be added to the projected deficit of N1.29 trn ie N3.187trn if he is to go ahead with paying of N5000 to 25 million unemployed annually, from where will he be able to make up the HUGE deficit?.

Analysing The Argument of The Buharists
Some Buharists claim that the project will be done in phase of 5m people per year. However, the problem of "How to identify these 5m beneficiaries" or the criteria comes with selection?
Anyway, that is for another day. Let's go by their argument...
Unemployment benefit: 5m * N5000 = N300 billion.

*The N300b is for the payment benefit alone*. Add that to logistics, overhead and operational cost that the program will incur (approx 50% ie N150billion) annually.

Total: N300b + N150b = N450b

Feeding for 40m Public School Children = N373 billion.

Subtotal: N823 billion.

Where Will Buhari Source For the estimated N823 billion?

- Remove Subsidy? Total package for petrol and kerosene subsidies plus SURE-P fund = N166.5b. That is clearly not up to 30%.

- Invest All Capital Expenditure + Subsidy? This will be a very silly move though. But adding Capital Expenditure and Subsidy will total N866.9 billion. Just a little above the projected N823billion.
Going this route means there will be no project for road, no infrastructure and other capital projects. In fact, it is synonymous to eating the present away.

- Will He Borrow? Borrowing to fund Social Welfare program is synonymous to eating away the future. That means indebting our future and a panacea to economic collapse likened to what happened to Greece if not worse. It also means increasing our already projected deficit of N1.29 trillion

What is the fate of this Social program? Feasible, Laudable or Laughable?

These are the reality Nigerians refuse to face. They rather believe Jonathan was hiding their money in his bank account. Maybe, when their messiah tells them, there is no money and Nigeria is a poor Church rat Nation, they will begin to apply their senses.

Till then is time to have some fun with the foools waiting for government to give them free money and feed their children.

barcanista:
I am actually waiting for the Pro Buhari people to realise their folly. Last night I was so ashamed that some people were celebrating Ignorance in public glare. As in it was pathetic

You're the ignorant one here for the following reasons:

1. You assume you know but you know not

2. You assume that the FG cannot in actual sense increase its earnings whereas it is highly possible

3. You believe all the figures given by the outgoing regime which has lost all credibility to the extent that very few people now believe those figures given in the past.

4. You failed to factor in what can be saved by blocking leakages and limiting corruption/looting.

5. Finally, you are unnecessarily proud, arrogant and an unrepentant sore loser!

barcanista:
PLEASE TAKE TIME TO READ

This thread is in response to the Thread by Obiagelli's https://www.nairaland.com/2265908/buharis-social-program-very-possible. In her bid to defend the Social policy of Mr Buhari, Obiagelli insulted the intelligence of Nigerians with respect to what is accrued to the Federal Government in revenue per fiscal year. Let us start by putting things in order...

Nigeria's Revenue:
Nigeria's revenue is accrued through oil export, non oil export, oil tax and non oil tax. The Federal Inland Revenue Service is statutory responsible for the collection of both oil profit tax and non oil tax. The money for oil export goes directly to the Federation Account via the NNPC. The money generated via non oil export goes directly to the federation account through relevant Agencies.

Oil Revenue:
The total sum realised through Oil export(after operational cost) and oil profit tax is known as "Oil Revenue"

Non Oil Revenue
While the sum realised through export of other commodities(after operational cost) and the money realised from non oil profit tax is called "Non Oil Revenue".

What Did Nigeria Earn Between January 2014 and January 2015?
Nigeria Total Earning:
Jan 2014 - June 2014 = N5.109trn

June 2014 - Jan 2015= N3.676trn

Total: N8.785trn

Total Oil Revenue (Oil Export Earning + Oil taxes)
= 70% of Total Revenue ie N6.15trn

*Total Non Oil Revenue (Non Oil Export + Non oil taxes)
= 30% of N8.785trn ie N2.635 trn

Jan 2014- June 2014 = N1.08trn*
July 2014 - Jan 2015= N1.556trn [N2.635trn]

Understanding FIRS 2014 Report:
FIRS announced that the sum of N4.69trn was generated in 2014. The report indicated that N2.45 trillion, representing 52.96 per cent, was collected from petroleum profit tax while N2.24 trillion, representing 47.04 per cent, was collected from non-oil taxes during the period.
[/b]Analysis[/b]
This sum(N4.69trn) is not independent of the published N8.785trn that Nigeria was said to earn between Jan 2014 and January 2014. It is a part and parcel of the total revenue.

How Much Did FG Get In 2014?
There is a consolidated Sharing formula between FG, States, LGs and Oil Producin States(13%) after operational and other associated cost has been deducted.
[/b]FG Earnings In 2014[/b]
1st Qtr: N912 billion
2nd Qtr: N864.2 billion
3rd Qtr: N924.68 billon
4th Qtr: N617.186 billion
Total 2014= N3.318trn

2014 Budget: N4.6trn
FG Projected Earning for 2014= N3.73tr
Real Earning = N3.318trn
Deficit in 2014 Fiscal Year: N1.282trn

What this means is that the money spent by the FG was not even enough to fund 2014 budget. We had a deficit of N1.282trn.
Also note that the fall in oil price affected our earning.

Looking At 2015 Budget:
The 2015 budget(as adjusted) stand at N4.3trn.
Projected Revenue For 2015= N3.603trn
Deficit: N1.297trn (N4.3trn - N3.603trn)

This means the 2015 budget will be run on deficit of N1.297trn (as confirmed by the Senate).

Looking At Buhari's Proposal
With Buhari's proposed N1.89tr Social program, it invariably means an additional N1.89trn will be added to the projected deficit of N1.29 trn ie N3.187trn if he is to go ahead with paying of N5000 to 25 million unemployed annually, from where will he be able to make up the HUGE deficit?.

Analysing The Argument of The Buharists
Some Buharists claim that the project will be done in phase of 5m people per year. However, the problem of "How to identify these 5m beneficiaries" or the criteria comes with selection?
Anyway, that is for another day. Let's go by their argument...
Unemployment benefit: 5m * N5000 = N300 billion.

*The N300b is for the payment benefit alone*. Add that to logistics, overhead and operational cost that the program will incur (approx 50% ie N150billion) annually.

Total: N300b + N150b = N450b

Feeding for 40m Public School Children = N373 billion.

Subtotal: N823 billion.

Where Will Buhari Source For the estimated N823 billion?

- Remove Subsidy? Total package for petrol and kerosene subsidies plus SURE-P fund = N166.5b. That is clearly not up to 30%.

- Invest All Capital Expenditure + Subsidy? This will be a very silly move though. But adding Capital Expenditure and Subsidy will total N866.9 billion. Just a little above the projected N823billion.
Going this route means there will be no project for road, no infrastructure and other capital projects. In fact, it is synonymous to eating the present away.

What is the fate of this Social program? Feasible, Laudable or Laughable?

The more you talk, the more you show nuisance of yourdelf.


How did you arrive at 1.8 trillion for Buhari's social program.


The program will only cost 700b a year and not the trash you posted.

https://www.nairaland.com/2266200/barcanista-buharis-social-program-more

The great thing this election is going to produce is an ideological debate in Nigeria. We have to now discuss government and its responsible. Also, who bears the cost of government nanny state programs and why. Money will become a central topic in the country in a way its has never been. I have to thank the Nigerian people for giving us this chance.

APC come and perform your miracles.

dustydee:

No doubt, the people must hold their government accountable. I sincerely hope they fulfil most of their promises unlike the outgoing government that failed to fulfil most of their campaign promises.
The most difficult one to fulfil will be the social scheme most of the others are easily achievable if the will is there.

Lol, Buhari administration should not expect scrutiny of his proposed programs. Last night some of his supporters took the entire Nigerians for fools with their gigantic and ignorant calculation including a Supermod here. I suppose Buhari and his crew are yet to understand how things work or they deliberately scammed us.

Barcanista, you have hit the nail on the head.

We already have a budget deficit of about N1.4trillion and somebody wants to add additional spending of N1.9trillion to that.

So the question still remain: where will Buhari get additional N3.3trillion to finance the budget and his welfare programmes?

Instead of the 'chained agents' to answer this question, they will rather abuse the OP.

I have addressed this in my other post: VAT would be increased from 5% to 10% or 15% and income taxes too would be increased. So it won't be out of place if I tell Nigerians to get ready for the impending inflation.

The discussion now should be how to combat the impending inflation and the attendant austerity?

I have already moved on from Buhari's welfare policies and budget because I know it is not only unachievable but it's also a blatant lie

crownprince102:

The more you talk, the more you show nuisance of yourdelf.


How did you arrive at 1.8 trillion for Buhari's social program.


The program will only cost 700b a year and not the trash you posted.

https://www.nairaland.com/2266200/barcanista-buharis-social-program-more

It's like you miss the beginning or you lack comprehension. Read the Part 1 and you will know how the N1.87 trillion was arrived at.
https://www.nairaland.com/2265570/buhari-social-program-laudable-laughable

atlwireles:
The great thing this election is going to produce is an ideological debate in Nigeria. We have to now discuss government and its responsible. Also, who bears the cost of government nanny state programs and why. Money will become a central topic in the country in a way its has never been. I have to thank the Nigerian people for giving us this chance.

APC come and perform your miracles.

Lemme call on my Big Bro Dearpreye

I realize this program is not feasible and I hope the Buhari administration does not waste money trying to implement it. Seriously, why did Nigeria vote out the present government when their policies - rail, automobile, power, road, agricultural, housing - were just gaining steam; real policies that would have changed the country.

Bayswater:
Barcanista, you have hit the nail on the head.

We already have a budget deficit of about N1.4trillion and somebody wants to add additional spending of N1.9trillion to that.

So the question still remain: where will Buhari get additional N3.3trillion to finance the budget and his welfare programmes?

Instead of the 'chained agents' to answer this question, they will rather abuse the OP.

I have addressed this in my other post: VAT would be increased from 5% to 10% or 15% and income taxes too would be increased. So it won't be out of place if I tell Nigerians to get ready for the impending inflation.

The discussion now should be how to combat the impending inflation and the attendant austerity?

I have already moved on from Buhari's welfare policies and budget because I know it is not only achievable but it's also a blatant lie

Bros, even if he's to increase VAT to 10% or 15% he won't still be able to raise the said amount. I will really like to see those people that were celebrating at their ignorance on Obiagelli's thread last night including my friend OAM4J.

If he should go ahead to implement it, we will experience "massive" Hyperinflation and a total collapse to our economy. Zimbabwe will be coming to our aide