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Nairaland Forum / Nairaland / General / Politics / MTEF: FEC Approves N6tr Expenditure For 2016 (29395 Views)
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MTEF: FEC Approves N6tr Expenditure For 2016 by realjoker(m): 7:42pm On Dec 07, 2015 |
The Federal Executive Council (FEC) presided by President Muhammadu Buhari on Monday approved N6 trillion expenditure for 2016 Budget under the Medium Term Expenditure Framework (MTEF). Source: http://thenationonlineng.net/mtef-fec-approves-n6tr-expenditure-for-2016/ 3 Likes 1 Share |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by SeverusSnape(m): 7:43pm On Dec 07, 2015 |
I thought the set of confused people said it gonna be 8 trillion ![]() ![]() 29 Likes 2 Shares |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by BeeBeeOoh(m): 7:44pm On Dec 07, 2015 |
This poster ^ has something to say.. 10 Likes |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by jbbaba(m): 7:47pm On Dec 07, 2015 |
ALL IS WELL |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by divinehand2003(m): 7:48pm On Dec 07, 2015 |
8 trillion was initially proposed For 2016, now it's 6 trillion during the FEC meeting presided over by PMB. After the review by the NASS, it might further slump down to 4 trillion. We are watching in 3D as usual. 21 Likes 5 Shares |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by 4Play(m): 7:53pm On Dec 07, 2015 |
Looks like Nigerian fiscal policy is going to go the Osun way, i.e., debt fuelled spending. I say this because fiscal revenue remains disappointing 6 months into the new regime. If revenues next year would be high enough to meet such spending, it should be happening already. 29 Likes 1 Share |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Elslim: 7:57pm On Dec 07, 2015 |
wailers food is ready 5 Likes 1 Share |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by chinchum(m): 7:57pm On Dec 07, 2015 |
i will recommend 30 dollars /barrel as budget benchmark, instead of 38 dollars per barrel. As at today, oil is now under 40 dollars /barrel, it has achieved a 11 year low(since 2004), and i see it going towards 25 dollars/barrel, iran will be pumping more fuel in to the oil export market in 2016. Nigeria must look beyond oil to a great extent in 2016. 47 Likes 4 Shares |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Nobody: 8:17pm On Dec 07, 2015 |
Where is lalasticlala sef? 1 Like 3 Shares |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by realjoker(m): 8:23pm On Dec 07, 2015 |
Space booked |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by likila: 8:32pm On Dec 07, 2015 |
Elslim: this wan go sweet so? 5 Likes |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by tbaba1234: 8:33pm On Dec 07, 2015 |
4Play: Devalue the currency and borrow... That is the most likely way. 3 Likes |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by gebest: 8:42pm On Dec 07, 2015 |
38 dollars what ![]() ![]() 37 Likes |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by greatiyk4u(m): 8:43pm On Dec 07, 2015 |
The Change is becoming clearer as the day goes on 12 Likes 3 Shares |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Freegift75: 8:46pm On Dec 07, 2015 |
All we need is change |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Nobody: 8:59pm On Dec 07, 2015 |
Good 1 Like |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Sweetguy25: 10:49pm On Dec 07, 2015 |
I predicted it my thread that the 2016 budget will be about 6-7 trillion. https://www.nairaland.com/2272158/how-buharis-tenure-end-2019 4 Likes 1 Share |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Josele01(m): 10:59pm On Dec 07, 2015 |
How about a breakdown? |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Bevista: 11:04pm On Dec 07, 2015 |
I'll help with some figures of the budget proposals of the FG from 2011, just to provide some perspective: 2011 Budget Proposed - N4.97Trillion Oil Price Used - $75 Oil Production - 2.3mbbls/day 2012 Budget Proposed - N4.75Trillion Oil Price Used - $70 Oil Production - 2.48mbbls/day 2013 Budget Proposed - N4.98Trillion Oil Price Used - $79 Oil Production - 2.53mbbls/day 2014 Budget Proposed - N4.91Trillion Oil Price Used - $75 Oil Production - 2.39mbbls/day 2015 Budget Proposed - N4.49Trillion Oil Price Used - $53 Oil Production - 2.28mbbls/day 2016 Budget Proposed - N6.0Trillion Oil Price Used - $38 Oil Production - 2.2mbbls/day I am interested in seeing the revenue details from the budget to know exactly how government intends to fund the budget. My first instinct, though, is that leackages in revenue generating agencies (like NCS, NPA, NNPC, etc) have been blocked and all funds channeled into the TSA. That the government has been able to come up with that size of budget - even in the face of declining oil prices & lower oil production levels - without depreciating the official exchange rate of the Naira - is truly remarkable. How GEJ (with benchmark oil price of over $75 throughout his term) was not able to come up with a budget of up to N5T beggars belief. One can now say without equivocation that, had PMB met an oil price of $75, we would be talking about a N10T budget. Kindly note that during GEJ term, oil price was actually higher ($105) than the budget benchmark and yet our Foreign Reserves and ECA was declining. 160 Likes 30 Shares |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Standing5(m): 11:06pm On Dec 07, 2015 |
How much did the Otuoke man run with annually? The man who jacked up defence budget from $1B to $4B annually and still needed to shift election for marcineries to come fight BH. Buhari show them how with intergrity small 'change' can be used to effect real Change. 55 Likes 3 Shares |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by fistonati(m): 11:07pm On Dec 07, 2015 |
And there's no money. God dey |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by ril19(m): 11:10pm On Dec 07, 2015 |
About 15 Percent Of That Sum (1.4trn) Will Be Coming From The Coffers Of Empty Hen [sic]. #NaJokeO ![]() 19 Likes |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by ril19(m): 11:15pm On Dec 07, 2015 |
1 Like 1 Share |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Nobody: 11:16pm On Dec 07, 2015 |
SeverusSnape:Always wailing....wail on bro,it is in you.. 40 Likes 1 Share |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Meriekriss: 7:46am On Dec 08, 2015 |
Bevista: Let's wait till this administration achieve the 6T budget before we question why GEJ did that or this.. Check my signature for your total interior decoration solutions 18 Likes |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Bevista: 7:46am On Dec 08, 2015 |
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Re: MTEF: FEC Approves N6tr Expenditure For 2016 by seunmsg(m): 7:55am On Dec 08, 2015 |
SeverusSnape: A N6trillion budget with a $38 crude benchmark show genuine honesty and sincerity when compared to the N4trillion budget we had for 5 years under GEJ with crude oil benchmark averaging $70. 30 Likes 1 Share |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by Fkforyou(m): 8:03am On Dec 08, 2015 |
With this bench mark I think N6trn is impressive.... 3 Likes 1 Share |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by ayemerbarth: 8:05am On Dec 08, 2015 |
How come it's exactly 6 trillion? Maybe the billions and millions on top means nothing to them. This budget is inconclusive on arrival. Common sense would ve been when benchmark was 75 dollar per barrel, budget was 4.75trillion. When it's now 38, budget would have been divided by 2 to give 2.37 trillion approximately. Only in this govt we see dwindling oil prices and high budget figures at the same time. Wonders ll never seize in Naija. 3 Likes 1 Share |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by seunmsg(m): 8:15am On Dec 08, 2015 |
Bevista: Okonjo Iweala and Jonathan are the biggest criminals to have governed this country. Close to 50% of our earnings was undisclosed and kept away from the national budget. They simply mismanaged trillions of naira without budgetary appropriation. Even with the N4trillion estimate, our budget never performed beyond 50% at best. Though we have not seen the breakdown of how the N6trillion PMB budget will be funded, what is obvious to all discerning mind is that we now have a president who will not hide away the country's revenue earnings. All loopholes of revenue misappropriation is being blocked. The era of extra budgetary spending is over as all revenues generated will be brought to account in the national budget. 43 Likes 5 Shares |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by ayemerbarth: 8:20am On Dec 08, 2015 |
What is budget actually? What we have is estimate for now. Let see what happens in the red chambers. They ll soon come out to deny this figure. |
Re: MTEF: FEC Approves N6tr Expenditure For 2016 by vedaxcool(m): 8:23am On Dec 08, 2015 |
I guess the budget will be directed more towards diversification of the economy |
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