biafranqueen:

wettin u talk the cabinet is here he just wanna cut cost so its just him and two others running the government.

Whynotthetruth:


Bro, that you don't understand a system doesn't make it a lie...It is rather better for you to ask questions or read up on your own to understand same...so that you can talk or argue as an informed individual...

Let me help you a bit...

1)Money was borrowed to augment accrued share of federal government from federation account to meet its obligations...

2)Revenue comes in monthly...And budgets are based on expected revenue...with provisions made for financing of deficits...

3)Have you ever imagined where the money they shared yesterday came from?...What about the NLNG tax they are forcing buhari to also share?...do you know how much we make monthly?...

4)$30billion is in our external reserve...which is managed by CBN... it is saved for emergencies and also as a guide or shock absorber to monetary/currency brouhaha...

5)Over $2billion is in our Excess Crude Account(ECA)...which is a saving account where all extra money made from crude sales above the budgeted benchmark are saved...

6)Other ministries, agencies etc have their allocations too based on budgets for the fiscal year...Funds are released to them as the president deems fit based on scale of
preference...Funds released to them are domiciled in their account and not necessarily finished immediately... They use these monies based on need assessment taking cognizance of budget as passed...

7)Hope it is clear to you now?...Quit being arrogant especially when issues you know nothing about is being discussed...

Appleyard:



Trash upon trash!

When i see trollers posts like these, i feel ashamed and wonder how we can actually get it right in this country, when some people so resolvely stand in anthemic posture to support their own decline and possible destruction.

Yes! Monies are made every month, and d total sums are shared between the various tiers of government: who on earth did not know that?
The money shared by d 3Tiers yesterday emanated from this process. But does it change d fact dat money was VIRTUALLY not left in the accounts? Must we explain what is meant by d use of d word ''virtually? Okay,let me help u.
It conotes that the REALITY FALLS FAR BELOW WHAT WAS EXPECTED UNDER NORMAL CIRCUMSTANCES IN A GIVEN SITUATION.

Now get these to ur pumped up egoism and learn wisdom:

THE STATE OF NIGERIA'S ACCOUNT BASES SINCE DEMOCRATIC INCEPTION.


1. PRESIDENT OLUSEGUN OBASANJO (1999-2007)
EXTERNAL DEBT:
Inherited: $30 billion
Cleared : $18 billion
Paid: $ 12 billion Dollars
Left: $3,348.22bn-2007
[url] http://www.financialnigeria.com /development /developmentreport_category_item _detail.aspx?categoryid=5& item=174
[/url]

FOREIGN RESERVE
Inherited: $3.7 billion (1999)
Left: $45.0 billion (2007)

NB: As at 2003, Oil Price Per Barrel was $30 and it was at $90 when he left.

2. UMARU MUSA YAR ADUA (2007 - 2009)

EXTERNAL DEBT:
Inherited: $3,348.22 billion
Left: $3.94 billion Dollars
http://www.dmo.gov.ng /oci/News/docs/Fact%20on %20%20Nigeria%20External%20D ebt%20Stock.pdf

EXTERNAL RESERVE
Inherited: $45.0 billion
GrewTo: $63 billion in September, 2008
http://www.nigerianmuse.com /20090102021223zg/nigeria- watch/nigeria-s-foreign-reserves- dip-to-52-7-billion/

Left: $47. 7 billion (As at Dec 31st 2009 when Jonathan took over as "Overseer" )
http://www.vanguardngr.com /2011/03/state-of-nigerias- external-reserves-worrisome- cipm-president /#sthash.cXXdNcoU.dpuf

N/B:
The reserve grew when the price of Crude Oil was $147 per barrel
It Slided in Mid 2008 during the recession, when the crude price fell to $35 per barrel in 2009, till his death.

3. PRESIDENT GOODLUCK JONATHAN:

EXTERNAL DEBT
Inherited: $3.94 billion Dollars
As At Now:$9.3 billion Dollars
http://www.dmo.gov.ng /oci/edebtstock /docs/External%20Debt%20Stock% 20as%20at%2030th%20June_%2 02014.pdf

FOREIGN RESERVE:
Inherited: $47. 7 billion (As At December 31st, 2009)
As At Now: $30.BILLION http://www.cenbank.org/intops /Reserve.asp
N/B:
Of the $9.3 billion EXTERNAL DEBT,Federal Government’s owes $6.36b, while ALL 36 States plus FCT owes $3.0 billion
As at 2010, Oil Price was at $89 per barrel
As at 2011, It was $103 per barrel
As at Now it is $100 per barrel

http://en.wikipedia.org /wiki/World_oil_market_chronolo gy_from_2003

Meaning, Jonathan have access to more money than Yar Adua, but he depleted the Foreign Reserve and stil Plunge Us into Further Debt With NOTHING to show.

Records at the Debt Management Office now show that the latest domestic debt of the Federal Government as of March 31, 2015 had risen to N8,507,545,474,000 (N8.51tn).
This means that in the last five years, the Federal Government had borrowed N5.04tn from domestic lenders. It also means that within the period, the domestic debt of the Federal Government grew by 157.48 per cent, with virtually NOTHING to show for it.

So, when people are talking there is virtually no money left, you should ask or read to understand why, not being arrogant and puffy!

Goodluck!

barcanista:
Yes, Mr President deserves some commendation on his recent feat. Mr President has been talking and campaigning since May 29 amid cheers by his supporters. We all should rise up and give President Muhammadu Buhari ovation. I will tell you why the President deserves such honor..

1. Mr President directionless?
Just yesterday (June 22) he ordered for the dismantling of Military check points nationwide. 24hrs later he reversed himself after the Governors "talked sense into him".

2. An Empty Treasury?
Same yesterday President Buhari met with Aso Rock's Press corps and informed them that the government of exPresident Jonathan left a "virtually empty" treasury. The President however forgot to tell the press corps that exPresident Jonathan left $29.865 billion in External Reserve (as of March 2015). www.thisdaylive.com/articles/nigeria-s-external-reserves-fall-below-30-billion/205171/
Mr President also forgot to tell Nigerians that Jonathan left $2.07billion in Excess Crude Account as at May 2015 www.dailypost.ng/2015/05/25/excess-crude-account-okonjo-iweala-exposes-governors/
How can Mr President say the treasury is almost empty when we have almost $30b in External reserve and $2b in ECA?

3. Mr President Agrees To Share Excess Crude Account:
Mr President has agreed in principle to set up a committee headed by Mr Osinbajo in order to "SHARE" the money in the Excess Crude Account. Mr President did not ask the states what they did with the N2.925trn they received from the ECA between 2011 and 2014 after cajoling exPresident Jonathan( N966.6 billion in 2011, N816.3 billion in 2012, N859.4 billion in 2013 and N282.8 in 2014)www.dailypost.ng/2015/05/25/excess-crude-account-okonjo-iweala-exposes-governors/.
Funny enough the same President that was talking of "virtually" empty treasury 24 hours ago is talking of "Sharing" the left over 24hrs later.

4. Buhari to Recover Stolen Money...Really?
It was shocking to hear that Buhari has vowed to recover "stolen" wealth. The same Buhari that would rather withdraw the N21billion corruption charges against Timpre Sylva instead of forcing him to vomit it? Or the same Buhari that instead of pursuing the N15billion corruption case against Abdulaziz Nyako rewarded him with Senatorial seat? Or the Buhari that would rather fraternise with exGov Murtala Nyako instead of taking back the multibillions he stole from Adamawa state.

5. The DSS No Longer Relevant Under Mr President
The Department of State Security is statutory responsible for internal intelligence. No serious leader can afford to shut out his country's internal intelligence unit during security meeting especially at a time of insurgency. But our dear president has never deemed it fit to invite the DG of DSS to ANY security meeting since he came to power. How will the President understand the status of the intelligence gathered to properly strategise against the insurgents and overall security without the input of the nations internal intelligence agency?


Don't you think President Muhammadu Buhari deserves a standing ovation?

mandarin:


Barcanista, I can ,understand that you are intended of being a strong opposition to the current government which in itself is a good thing as it will afford the populace to think with open minds but sometimes brother do it with sense and earn my respect. Please, research well before you post anything at least for the sake of your followers.

Buhari said he met an almost empty treasury for a country that sold crude oil above $80 for over 4years. Tell me the excess crude account should be that meagre? honestly you should bury your head in shame.
The President has not made any appointment into EFCC and so those appointed by GEJ are still there, you cannot say he is a party to setting Sylva free, just wait till the reform hit you in the face and PDP guys will have to cough out what they have swallowed and i believe those in APC too will also follow suit.
Barcanista,try and improve on your presentation and stop whipping emotions, i take you to be more mature and professional

Appleyard:



Trash upon trash!

When i see trollers posts like these, i feel ashamed and wonder how we can actually get it right in this country, when some people so resolvely stand in anthemic posture to support their own decline and possible destruction.

Yes! Monies are made every month, and d total sums are shared between the various tiers of government: who on earth did not know that?
The money shared by d 3Tiers yesterday emanated from this process. But does it change d fact dat money was VIRTUALLY not left in the accounts? Must we explain what is meant by d use of d word ''virtually? Okay,let me help u.
It conotes that the REALITY FALLS FAR BELOW WHAT WAS EXPECTED UNDER NORMAL CIRCUMSTANCES IN A GIVEN SITUATION.

Now get these to ur pumped up egoism and learn wisdom:

THE STATE OF NIGERIA'S ACCOUNT BASES SINCE DEMOCRATIC INCEPTION.


1. PRESIDENT OLUSEGUN OBASANJO (1999-2007)
EXTERNAL DEBT:
Inherited: $30 billion
Cleared : $18 billion
Paid: $ 12 billion Dollars
Left: $3,348.22bn-2007
[url] http://www.financialnigeria.com /development /developmentreport_category_item _detail.aspx?categoryid=5& item=174
[/url]

FOREIGN RESERVE
Inherited: $3.7 billion (1999)
Left: $45.0 billion (2007)

NB: As at 2003, Oil Price Per Barrel was $30 and it was at $90 when he left.

2. UMARU MUSA YAR ADUA (2007 - 2009)

EXTERNAL DEBT:
Inherited: $3,348.22 billion
Left: $3.94 billion Dollars
http://www.dmo.gov.ng /oci/News/docs/Fact%20on %20%20Nigeria%20External%20D ebt%20Stock.pdf

EXTERNAL RESERVE
Inherited: $45.0 billion
GrewTo: $63 billion in September, 2008
http://www.nigerianmuse.com /20090102021223zg/nigeria- watch/nigeria-s-foreign-reserves- dip-to-52-7-billion/

Left: $47. 7 billion (As at Dec 31st 2009 when Jonathan took over as "Overseer" )
http://www.vanguardngr.com /2011/03/state-of-nigerias- external-reserves-worrisome- cipm-president /#sthash.cXXdNcoU.dpuf

N/B:
The reserve grew when the price of Crude Oil was $147 per barrel
It Slided in Mid 2008 during the recession, when the crude price fell to $35 per barrel in 2009, till his death.

3. PRESIDENT GOODLUCK JONATHAN:

EXTERNAL DEBT
Inherited: $3.94 billion Dollars
As At Now:$9.3 billion Dollars
http://www.dmo.gov.ng /oci/edebtstock /docs/External%20Debt%20Stock% 20as%20at%2030th%20June_%2 02014.pdf

FOREIGN RESERVE:
Inherited: $47. 7 billion (As At December 31st, 2009)
As At Now: $30.BILLION http://www.cenbank.org/intops /Reserve.asp
N/B:
Of the $9.3 billion EXTERNAL DEBT,Federal Government’s owes $6.36b, while ALL 36 States plus FCT owes $3.0 billion
As at 2010, Oil Price was at $89 per barrel
As at 2011, It was $103 per barrel
As at Now it is $100 per barrel

http://en.wikipedia.org /wiki/World_oil_market_chronolo gy_from_2003

Meaning, Jonathan have access to more money than Yar Adua, but he depleted the Foreign Reserve and stil Plunge Us into Further Debt With NOTHING to show.

Records at the Debt Management Office now show that the latest domestic debt of the Federal Government as of March 31, 2015 had risen to N8,507,545,474,000 (N8.51tn).
This means that in the last five years, the Federal Government had borrowed N5.04tn from domestic lenders. It also means that within the period, the domestic debt of the Federal Government grew by 157.48 per cent, with virtually NOTHING to show for it.

So, when people are talking there is virtually no money left, you should ask or read to understand why, not being arrogant and puffy!

Goodluck!

Whynotthetruth:


I laughed off at your style of trying to play smart but by half with favourable figures and generalizing where it covers your deceit especially with you being blind to anything that justifies the debts...Anyway, issue of debt burden has been cleared here severally...So I won't argue back and forth with you...Subject of discuss here is what is in the treasury...And till you prove to me how $30billion dollars which is more seven times our annual budget is virtually empty treasury or how over $2billion dollars that can finance our national budget, is virtually empty treasury or how our investment in SWF whose dividends would soon start pouring in is virtually empty treasury then we have no discussion here....

dustmalik:

Don't mind the senseless dolts.

Alphaoscar:




You have been hammering over this sovereign wealth fund as if it is a FG's sole property. FYI, no President can't take out of that money without giving the states their own share. Go and read about that sovereign wealth fund get the hell outa my mentions.

HzRF:

Buahri should have met billion of acct in the FG acct right?
Let me ask
Are we making enough money as expected?
If no
Should GEJ left d Fg acct buzzing with billion without paying salaries, contractors, MDS and earn salaries and allowance?
He should have left his responsibilities just for his successor to meet billion in Fg acct?
Is Fg acct as savings account Lyk ECA, SWF
why is buahri complaining wen we produce 3m barrels /per day


Buhari knws oil price has fell yet salaries didn't decrease, d cost of cement, asphalt etc didn't decrease
Hw will he expect to meet billion in Fg acct
Wen they are not savings acct

jpphilips:



Na ur papa dey produce 3mbbls for Nigeria abi?

jpphilips:



SWF is the FG's share of the ECA in part so it solely belongs to the FG.
Keep your ignorance to yourself.

Appleyard:



Trash upon trash!

When i see trollers posts like these, i feel ashamed and wonder how we can actually get it right in this country, when some people so resolvely stand in anthemic posture to support their own decline and possible destruction.

Yes! Monies are made every month, and d total sums are shared between the various tiers of government: who on earth did not know that?
The money shared by d 3Tiers yesterday emanated from this process. But does it change d fact dat money was VIRTUALLY not left in the accounts? Must we explain what is meant by d use of d word ''virtually? Okay,let me help u.
It conotes that the REALITY FALLS FAR BELOW WHAT WAS EXPECTED UNDER NORMAL CIRCUMSTANCES IN A GIVEN SITUATION.

Now get these to ur pumped up egoism and learn wisdom:

THE STATE OF NIGERIA'S ACCOUNT BASES SINCE DEMOCRATIC INCEPTION.


1. PRESIDENT OLUSEGUN OBASANJO (1999-2007)
EXTERNAL DEBT:
Inherited: $30 billion
Cleared : $18 billion
Paid: $ 12 billion Dollars
Left: $3,348.22bn-2007
[url] http://www.financialnigeria.com /development /developmentreport_category_item _detail.aspx?categoryid=5& item=174
[/url]

FOREIGN RESERVE
Inherited: $3.7 billion (1999)
Left: $45.0 billion (2007)

NB: As at 2003, Oil Price Per Barrel was $30 and it was at $90 when he left.

2. UMARU MUSA YAR ADUA (2007 - 2009)

EXTERNAL DEBT:
Inherited: $3,348.22 billion
Left: $3.94 billion Dollars
http://www.dmo.gov.ng /oci/News/docs/Fact%20on %20%20Nigeria%20External%20D ebt%20Stock.pdf

EXTERNAL RESERVE
Inherited: $45.0 billion
GrewTo: $63 billion in September, 2008
http://www.nigerianmuse.com /20090102021223zg/nigeria- watch/nigeria-s-foreign-reserves- dip-to-52-7-billion/

Left: $47. 7 billion (As at Dec 31st 2009 when Jonathan took over as "Overseer" )
http://www.vanguardngr.com /2011/03/state-of-nigerias- external-reserves-worrisome- cipm-president /#sthash.cXXdNcoU.dpuf

N/B:
The reserve grew when the price of Crude Oil was $147 per barrel
It Slided in Mid 2008 during the recession, when the crude price fell to $35 per barrel in 2009, till his death.

3. PRESIDENT GOODLUCK JONATHAN:

EXTERNAL DEBT
Inherited: $3.94 billion Dollars
As At Now:$9.3 billion Dollars
http://www.dmo.gov.ng /oci/edebtstock /docs/External%20Debt%20Stock% 20as%20at%2030th%20June_%2 02014.pdf

FOREIGN RESERVE:
Inherited: $47. 7 billion (As At December 31st, 2009)
As At Now: $30.BILLION http://www.cenbank.org/intops /Reserve.asp
N/B:
Of the $9.3 billion EXTERNAL DEBT,Federal Government’s owes $6.36b, while ALL 36 States plus FCT owes $3.0 billion
As at 2010, Oil Price was at $89 per barrel
As at 2011, It was $103 per barrel
As at Now it is $100 per barrel

http://en.wikipedia.org /wiki/World_oil_market_chronolo gy_from_2003

Meaning, Jonathan have access to more money than Yar Adua, but he depleted the Foreign Reserve and stil Plunge Us into Further Debt With NOTHING to show.

Records at the Debt Management Office now show that the latest domestic debt of the Federal Government as of March 31, 2015 had risen to N8,507,545,474,000 (N8.51tn).
This means that in the last five years, the Federal Government had borrowed N5.04tn from domestic lenders. It also means that within the period, the domestic debt of the Federal Government grew by 157.48 per cent, with virtually NOTHING to show for it.

So, when people are talking there is virtually no money left, you should ask or read to understand why, not being arrogant and puffy!

Goodluck!

jpphilips:

These are the kinda people who deserve to be posting on nairaland not rabbits.