MizMyColi:


I endorse this post 100%

PassingShot:

My points are well stated.
1. Nothing wrong in using $38 for benchmark. As we speak, crude price is $38.10 per barrel.

2. Our debt to GDP ratio is well within reasonable limit despite the borrowing. Besides, PMB is borrowing for capital projects unlike GEJ that borrowed for recurrent expenditures. I hope you know which makes economic sense.

3. The budget is not heavily relied upon crude sales. Crude income is just 13% of our budget now, unlike when it was 53% in 2015. Therefore further slump in crude will not result in failure of the budget. For the budget to fail, other factors other than crude will have to be responsible.

4. The president clearly said his team will work to reduce our debt to GDP to a single digit by 2018 (not sure of the exact % he said now).

Read my article again and counter it or accept that you were wrong.

IsraeliAIRFORCE:
I am surprise how passingshot is brandishing stats made posssible by the administration he is quick to dismiss.

Buhari be will judged by number of people his administration lifted from poverty and the number of enterpreneurs he made and encouraged.

GEJ administration cut national poverty rate almost by half and I expect Buhari to reduce it to single digit in four years.

#NB: I don't know what is happening, I just bought PMS N135 per litre

MizMyColi:


I didn't perse because he was speaking from both sides of the mouth; like someone who didn't want to please and at the same time didn't want to displease.

That said, when it comes to figures, I am not always quick to speak, because I am much more talented in words than figures. I'm looking forward to reviews from an expert opposition figure.

Though going by how you held brief for the president, I'd say your article is well thought out and I cannot readily fault it.

Btw, how can they budget 5 billion for National Population commission and just 280 million for the police service?

Misplaced priorities?

PassingShot:

I like the strategy you're employing. I wish Barcanista will employ this strategy of "Escapism"

Tunami:
i think apc and pdp have some some paid e-warriors in nairaland.

PassingShot:

I like the strategy you're employing. I wish Barcanista will employ this strategy of "Escapism"

LogoDWhiz:



I guess it's for the census

TonyeBarcanista:

Few weeks ago I did tell you that there is no way Nigeria can raise N2trillion from tax.... I even went on to say that government will borrow if she is to fund the N6trillion 2016 budget. You argued but today you are defending borrowing.

I don't think you follow trend on the crude oil issue. By 2016 Iran will be pumping a lot in the market. Same with Saudi Arabia(continuous pumping) and new entrants Russia and USA. Do you know the implication? Oil slump, more competitors and less buyers in the market. I don't need to tell you the implication with respect to our revenue.

As for tax, low revenue mean a reduced petroleum profit tax and company tax. It means less money will be domicilled in our banks, that also means less tax from financial institutions. Should oil company and the banks downsize, it means reduced income tax as well. When you keep talking of our GDP, have you asked what drives the GDP? Is it not majorly oyel and its offshoot? Is Nigeria a producing country? Think.

What happens when government borrows more to plunge us into more debt when the the prospect of increasing our GDP is technically non-foreseeable? What do you think will happen say 2017 and 2018? Will they borrow?

MizMyColi:


I didn't perse because he was speaking from both sides of the mouth; like someone who didn't want to please and at the same time didn't want to displease.

That said, when it comes to figures, I am not always quick to speak, because I am much more talented in words than figures. I'm looking forward to reviews from an expert opposition figure.

Though going by how you held brief for the president, I'd say your article is well thought out and I cannot readily fault it.

Btw, how can they budget 5 billion for National Population commission and just 280 million for the police service?

Misplaced priorities?

TonyeBarcanista:

I don't just blab for blabbing sake. Neither do I wail for wailing sake... I question whatever I'm not comfortable with but at the same time hope for the success of the government. You will make a fatal error to group me as one of those that by default is set as "opposing" everything without cause, the hardliners that forget to apply wisdom.

MizMyColi:


Escapism from what please?

PassingShot:

Without needing to go back and forth, the only parameter that settles your concern is the debt to GDP ratio. Is our debt profile at 14% of GDP too high or what? What is your point exactly. How the loans will be financed is clearly stated in the budget, yet you come up with question as this.

Na wa for you ooo.

PassingShot:

What's your point in relation to the topic?

PassingShot:

Barca, should the govt have elected to cut spending and plunge the economy further? That is the question.

MizMyColi:

But it has been postponed...

TonyeBarcanista:

Woman, if you want to attack my person be bold enough to do it directly(though I will ignore). Using indirect means doesn't tell good of your person.

My disagreement with you came because I refused to support Saraki and other PDP thieves facing trial. I left the SCN for you guys yet you won't mind your lane.

I'm not a sycophant and not a political jobber seeking patronage from any corrupt personality. I play politics according to my conscience dictates with the interest of Nigeria and my conscience as the motivator. I have a reputation beyond Nairaland to protect and have proved critics several times that Nigeria comes first for me.

I will advice that you face your lane and respect yourself. If however you choose otherwise, I will ignore you. Using indirect means doesn't tell good of you.

For the record, I DON'T seek your patronage.


Çc: Passingshot and Truckpusher please take note!

Who is this one fuming for now?

Abeg face front joor! What brought SCN into this now? I spoke based on the thread you created and you're here ranting like a 3-year old. Abeg spare me your life story.

Someone accused me of taking sides on the budget issue based on what I told him earlier and I proceeded to make him understand that I haven't formed an opinion especially seeing as you weren't quite direct with your write up as you came off like someone who was trying hard not to please and at the same time not to displease....more like speaking from both sides of the mouth.

There, I said it again.
Get a rope and hang me

MizMyColi:


But it has been postponed...

LogoDWhiz:



Ohh. If that's the case, then they have a big question to answer

Yhunoos:


I believe the fund is meant for the necessary preparations for the 2017 census


According to the chairman of NPC

“Now, the reality on ground is that the re­quired minimum of two years to plan for census, even if the mon­ey required is giving to us today, we would not be ready by 2016 to do a good job.

Read more:

http://nationalmirroronline.net/new/why-we-postponed-2016-population-census-npc/&sa=U&ved=0ahUKEwj4vKjb2PzJAhWCHw8KHTPvDBsQFggHMAA&usg=AFQjCNHWm0Am0szVU9Ow0n-T6MqcgQrgww

TonyeBarcanista:

Now you are asking the right question. If you really check, we spend so much on recurrent expenditure, inflated budgets by government ministries and agencies, multiple award of contracts and direct embezzling. Of the recurrent expenditure, the bulk of them goes to political officeholders, DGs and CEOs of government parastatals as well as benefits accrued to former leaders and their family. If we can cut the benefits of political officeholders by 60%, curb the menace of fraud and contract inflation as well as going after yams eaters, Nigeria will have lots of monies freed up for capital project. We could borrow say 500 billion or less to suplement whatever we have. Invest in capital project and forget about social benefit for now. Also removing subdidy(its a must) will help free hundreds of billions for projects. I don't think accruing more burden will be of long term good. Think

MizMyColi:


Who is this one fuming for now?

Abeg face front joor! What brought SCN into this now? I spoke based on the thread you created and you're here ranting like a 3-year old. Abeg spare me your life story.

Someone accused me of taking sides on the budget issue based on what I told him earlier and I proceeded to make him understand that I haven't formed an opinion especially seeing as you weren't quite direct with your write up as you came off like someone who was trying hard not to please and at the same time not to displease....more like speaking from both sides of the mouth.

There, I said it again.
Get a rope and hang me

MizMyColi:
If you notice, I've not said anything on this budget issue, more like forming an opinion.

I am more interested in its implementation.

Only then can I comfortably laud the president without worrying that I might have to chew my words tomorrow.

I have seen enough from APC to know that they are very good at making promises on paper.

Implementation however, is a different ball game.

TonyeBarcanista:

You don't have to sound funny. Respect yourself and maintain your lane. I don't care whether you are pleased or not(I didn't even mention you). I believe you are matured enough to mind yourself.

As for me, I'm to old to be repeating myself. A word should be fine for the sane.

Swwweeeerrrrveeeee ---->>>

Built2last:
Too much noise on this budget. What I want is a better Nigeria in 2016.

The common man cares less about budget figures or how much is to be borrowed.

They voted for good electricity , good health care, education, portable water. Employment and enviable economy.

The silly battle and war of words between APC nd PDP on this budget is meaningress.

PassingShot:

You make it look so simple and easy. I laugh you is Chinese

1. Blocking of leakages and cutting wastages is the primary reason the budget we now have is 13.5% dependent on oil income. So, that side has been taken care of.

2. You and I know that cutting benefits of political office holders is beyond the president. He cannot single-handedly do that in a democracy. It is RMFAAC that does that and that has equally been looked into (if not even completed as we speak).

The fact remains that we cannot have the budget we need to revive the economy without borrowing. GEJ that didn't need to borrow even borrowed, yet you criticize a government that clearly knows its onions for borrowing to revive the comatose economy.

The good news is that our bedt is within acceptable fiscal limit and the president will work to reduce it further, not to increase it as he pledged.

Think.

PassingShot:

Surprised you act as if you don't know importance of a good budget. Without a good budget, all the stuffs you mentioned will forever remain a mirage just as they've been since many decades back.

Defending the 2016 budget may not have been necessary if some persons have not made an attempt to rubbish it despite that it remains the best ever in Nigeria's history.

IsraeliAIRFORCE:


From inception I already know the budgeting style and political-economics of defunct ACN which APC adopted after the merger.

The best recorded budget proposal/actual percentage performance was by Lagos State on average of 79% per annum while the worst can be attributed to Osun State where the expected actual may be in the region of 40 - 45% per annum hence I don't see any big deal on this blotted budget which the certainty of the revenue to prosecute it, is still under probability which risk factor is within "inadvisable" if 100% attainment is the target.

As I said before job creation, poverty reduction and building effective middle class / entrepreneurs will be the bases of my scorecard

If I may ask, we were previously told that it will be zero based budgeting which I said was unconstitutional. What happened?