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

MizMyColi:


5 billion naira, for ordinary preparation?
You people should fear God o.

MizMyColi:


Kindly ignore my earlier post.


I just looked up the Budget for 2014 for NPC and it is almost the same
http://www.google.com/url?q=http://www.budgetoffice.gov.ng/pdfs/2014_budget_proposals/43.%2520Summary_National%2520Population.pdf&sa=U&ved=0ahUKEwj9hae03vzJAhUFKQ8KHYAKA5sQFggPMAI&sig2=SyVSXSk5sz9ezuwqJBoNbQ&usg=AFQjCNFmV0AbPaiqin4gsMtGcNH9P4Sdaw

Now here's the catch...
There's an Item by Item breakdown there in the budget proposal.
If APC had done same, we won't be talking much.

Still doesn't change my stance though...
On the rationale behind awarding 5Billion to NPC and a paltry 280 million to the POLICE. POLICE o.

Built2last:


PassingShot, sometimes you sound like some of us never voted PMB or campaigned for him. Some of us who are economists and have practiced for atleast a decade will wear our binoculars of optimism and objectivity in analysing the budget. With a view to reshape any anormalys through public opinion. Each time you tow the line of defense you clearly paint a picture of perfection in the system. Thereby making those who have genuine objections to government policis keep quiet. The budget was prepared by humans for humans. Is it the best budget ever? Wisdom will require that we wait till October 2016 to judge it. Any good economist can prepare a good budget. Let's wait till October please. Democracy rides on personal and public opinion. To that end Barcanista and his likes are entitled to their opinions and views as Nigerians

You can't boost investors confidence with current iliquidity in the system. The policies on Fx in the guise of stabilising foreign reserve and boosting naira is crude economics in 21st century realities. We can't attract investors with current policies. Only private sector will guaranty the needed jobs which current policies negate.

Let's wait till 2016 November to appraise the budget to give failure or pass mark

S123612:


Let me ask you something passingshot. If Nigeria is a Plc owned by you, and you find yourself in the present situation we are in now as a country, will you borrow?

MizMyColi:


Kindly ignore my earlier post.


I just looked up the Budget for 2014 for NPC and it is almost the same
http://www.google.com/url?q=http://www.budgetoffice.gov.ng/pdfs/2014_budget_proposals/43.%2520Summary_National%2520Population.pdf&sa=U&ved=0ahUKEwj9hae03vzJAhUFKQ8KHYAKA5sQFggPMAI&sig2=SyVSXSk5sz9ezuwqJBoNbQ&usg=AFQjCNFmV0AbPaiqin4gsMtGcNH9P4Sdaw

Now here's the catch...
There's an Item by Item breakdown there in the budget proposal.
If APC had done same, we won't be talking much.

Still doesn't change my stance though...
On the rationale behind awarding 5Billion to NPC and a paltry 280 million to the POLICE. POLICE o.

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?

sweetgala:


Many people are praying for the FG to fail at budget implementation. What they benefit from it I don't know.

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 I 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!

Mynd44:

That escalated quickly.

Ease up man. Aint no reason to get agitated

NgeneUkwenu:


I have advised her to stick to the romance section..

Back to the topic: What should the Government have done in face of the dwindling price of Crude oil to Fund the budget without borrowing?

TimeManager:
First, I Commend OP For This Rejoinder Which I Considered Not Neccessary For The Sake Of Rebuttal. However, I Am Eagerly Awaiting NOI's View On This Budget. This Budget Is Comprehensive To Say The Least But Hard For Any Wailing Sentiments.


First, This Is A Medium Term Expenditure Budget- This Must Sink in.
Must We Refuse To Borrow Because Of An Outstanding? Is The Debt : GDP Healthy?


Do We Have The Benchmark Of $38 In The Region Of Safety? Absolutely Yes.
A 30% Capital Expenditure, So Much Expectations For A Non-oil Revenue Projection. A Rare Kind. I Couldn't Care less About Those Who Squibbles On This Budget, I Care More About The Masses That It Would Benefit.


No Lie Only Truth!

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.

PassingShot:

1. No budget achieves 100% of its target. Check anywhere in the world and come back with the result.

3. Zero budgeting is still very much intact. It appears you don't understand how it works. Let me try:

What it means is that NO MINISTRY will be able to just decide to embark on any project based on its budget allocation. Whatever project a ministry intends to embark upon will have to be discussed at the FEC and weighed side by side with other projects from other ministries for cost, and need. Based on such exercise, the projects judged to be vital and important to the economy will be given priority over the other ones.

NgeneUkwenu:


Abeg free that emotional-wrenched woman! I have advised her to stick to the romance section..

Back to the topic: What should the Government have done in face of the dwindling price of Crude oil to Fund the budget without borrowing?

docadams:


Hmmmmmmm

Where are you headed with an emotional woman?

Mynd44:

That escalated quickly.
Ease up man. Aint no reason to get agitated

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 I 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!

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 ever . 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

TGM2015:

The only problem I had with the 2016 budget was with the bonded, Nigeria as at now don't need to spend is scare resources on welfarism of whatever form. APC and Presidency should understand that most of those who voted for Buhari vote not because they are promised N5,000 but that they get Nigeria out of her impunity and high level corruption. Paying N5,000 even 500,000 to everyone Nigerian will not guarantee their reelection if insecurity, unemployment and power issues and most recently fuel scarcity are not addressed. Good road network, heath centers, sound education administration that will curb the high exam malpractice level in our educational institutions so that our students graduate as an educated literate with sound independent mind of reasoning.
Above all, I pray don't see, for now, economically anything wrong with the borrowing as the total money to be borrowed is less than the budget amount for capital expenditures.

TGM2015:

The only problem I had with the 2016 budget was with the bolded, Nigeria as at now don't need to spend her scare resources on welfarism of whatever form. APC and Presidency should understand that most of those who voted for Buhari voted not because they are promised N5,000 but that they will get Nigeria out of her impunity and high level corruption. Paying N5,000 even N500,000 to every Nigerian will not guarantee their reelection if insecurity, unemployment and power issues and most recently fuel scarcity are not addressed. Good road network, heath centers, sound education administration that will curb the high exam malpractice level in our educational institutions so that our students graduate as an educated literate with sound independent mind of reasoning.
Above all, I don't see, for now, economically, anything wrong with the borrowing as the total money to be borrowed is less than the budget amount for capital expenditures.

We await 2017 when we fairly judge this administration on his budget of change, until then I keep observing.

Please if anyone has any means to contact Ibe our Minister of petroleum, Kindly inform him that investing in establishing more NNPC mega stations across the country can help to some extent curb the excesses of these greedy oil marketer and filling station managers who as at today still sell at 120 and above. Thank God our refineries are reported to now be working.

sauceEEP:

Are you guys fighting? I thought you both were once like bread and butter..?

baralatie:

You mean the borrowed is #1.84trillion less than the #2.2trillion deficient?

TonyeBarcanista:

The budget for capital project is N1.8 trillion. Proposed borrowing is N1.84 trillion.

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 I 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!

MizMyColi:

Kindly ignore my earlier post.

TimeManager:
First, I Commend OP For This Rejoinder Which I Considered Not Neccessary For The Sake Of Rebuttal. However, I Am Eagerly Awaiting NOI's View On This Budget. This Budget Is Comprehensive To Say The Least But Hard For Any Wailing Sentimen


First, This Is A Medium Term Expenditure Budget- This Must Sink in.
Must We Refuse To Borrow Because Of An Outstanding? Is The Debt : GDP Healthy?

Do We Have The Benchmark Of $38 In The Region Of Safety? Absolutely Yes.
A 30% Capital Expenditure, So Much Expectations For A Non-oil Revenue Projection. A Rare Kind. I Couldn't Care less About Those Who Squibbles On This Budget, I Care More About The Masses That It Would Benefit.

No Lie Only Truth!

aieromon:


For some time now,it seems you don't really make detailed analysis/research before making your opinions known.

Just saying......

TGM2015:


N1.84 trn was quoted to be capital expenditures as widely reported, I will not dispute that. But I knew the last time I scanned through the pdf format of the presented budget I saw two columns with capital related heading, the sum of which is more than 3 trn.
I just check my one drive space now found out that I am yet to upload it there, I will possibly make a second check on it and confirm my assertion, if otherwise I will confirm by Tuesday and if not will attached it pdf.
I just pray my downloading folder is not yet cleared as the PC has the company IT policy applied on the it.

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?