luvinhubby:
Putting saved money into a wealth fund is investment.

Obiagelli:


This aint kindergarten class, bring up facts. Tantrums wont work here

caleb404:

Who has time to entertain you? Me??
Abeg swerve make I see road jare.

Obiagelli:

Capital expenditure for 2015 was 8.9%, you miraculously omitted that from your analysis. Something has got to fill up 21% increase in capital expenditure.

Loans and oil are not the major source of funding this budget.

U aint debating a dummy, try again

Obiagelli:

Still nothing up there but tantrums. Same ol emptiness

Obiagelli:

Does not make it any less savings.

caleb404:


You must really be filled up of shit. We fold our hands and watch your personal messiah destroy Nigeria fully. We're all in this together. All these ones u dey form na urself u dey fool.

Negative news everyday. Can't you bow your head in shame and keep quiet? More prominent slaves and zombies have kept shut. Keep fooling yourself. We're all watching and wondering how erstwhile sensible folks turned zombies. Shame, Shame, Shame!

adconline:



GMB increased the size of budget to 64% from 3.9tn in 2015 to 6.0tn in 2016 by borrowing ie N2.5tn. Capital budget is restored to 30%, really?? It was around 37% during OBJ time when National budget was around N2tn.

So GMB is borrowing to fund recurrent expenditure??
Another profligate budget... 30% capital budget is peanut compared to 2013 when it was about 31%; it was 24% in 2014 ; 2015 is about 18% -- all these when the national budget was less than 4tn. Only 30% of 2.5tn borrowed funds would be used for capital projects which means for every N100 borrowed, N70 is for "chopping" money for politicians and their cronies while N30 would be for capital projects. -

N750bn would be used for capital projects while N1.75tn will be "chopped" by politicians, mind u neither federal minimum wage nor workforce has increased to warrant FG to add 1.7tn to already bloated FG's recurrent expenditure.

obayaya:


It does..

Because the governors' forum can wake up one day and compel you to share the ECA.. And Even secure court orders in that regard.. We've seen Amaechi led Governors' forum do it..

I think that's the point luvinhubby is trying to make

Sealeddeal:
Bia Obiagelli,
It is difficult defending Mrs Kemi Adeosun. She is an underdog. Alot of Financial experts in this forum is better than her and that why her statements are being punctured easily. By merely looking at the budget breakdown and funding,it is easy to know when Mrs Adeosun is talking nonsense.The loan will partly fund recurrent expenditure save if the government do not intend to fully implement the Recurrent expenditure of which imply that government is planning to owe workers salaries. I dont blame Mrs Adeosun,it is Gov. Ibekunle Amosun that set her up.

Obiagelli:
Nigeria 2008
external debt: $3 billion ( corrected)
external reserve: $40 billion
Soveign wealth: $19 billion




Nigeria 2015 (4yrs of record oil prices)

external debt: $9.7 billion
external reserve: $19 billion
Soveign wealth: $1 billion

Obiagelli:

Loans are tied to projects, specific projects.
The government is in the verge of doubling IGR. It is all left to be seen.
What makes kemi an underdog?

Btw i am yet to see any of you give alternative suggestion. This economy is desperate for stimulant, it needs massive funding

yaki84:





u guys hv one spectacular gene running thru ur veins, Lying gene.
external reserve 19billion dolls?
under gej or pmb cos we all knw reserve was 30billion dolls plus some fraction when gej left office.
wetin baba dullard carry money do?

Obiagelli:
Nigeria 2008
external debt: $3 billion ( corrected)
external reserve: $40 billion
Soveign wealth: $19 billion




Nigeria 2015 (4yrs of record oil prices)

external debt: $9.7 billion
external reserve: $29 billion (corrected)
Soveign wealth: $1 billion

Obiagelli:


My error, intended to type $29 billion

“With those efforts and strong
determination, we have seen our
foreign reserves moving from about
$29.1bn when his Excellency took
over on 29th of May to $31.89 billion
that it is at this time.

https://www.naij.com/483629-nigerian-foreign-reserves-increases-in-just-one-month.html

Sealeddeal:
If Buhari Led administration is mindful of reduction in cost of governance,he would have found a way of reducing the public spending. From the budget,it is clear that this government is a regime committed to wastefulness.There are enormous amount of money placed in recurrent that are unnecessary.why not channel it Capital projects? Can we stimulate economy when the president want to spend Billions for feeding? What is government doing with Payment of N5000 to vulnerable nigerians that will cost us billions? Is that how to stimulate economy? You see the stimulation of economy is not about borrowing to fund Recurrent expenditure. Borrowing to fund Capital projects is not bad. There is no Change in this administration.With this budget outlook,this regime will not be better than the past ones.Nigerians,therefore,has been short changed.

yaki84:





go now n check d current figure it is below 29billion dolls, d last time I saw d updat it was 28+billion dolls.
stop adding figures n when it backfire u blame gej.
try to speak d truth for once.

Ioannes:
well I guess the only consolation in all these is that there won't be massive stealing of the loan under buhari as we witnessed with jona and baba iyabo.

borrowing is the only way to keep the country afloat with the oil price tending towards $0.

Obiagelli:

It got to 40% under Obj kudos to him but a certain slowpoke (rip) and his drunkard took us 10yrs backwards. In any case it took Obj 2terms to achieve this.


Even after reading that the loans are tied to specific project, you still came up.this crap.

Just btw, what was the value of the naira in 2014 compared to 2016. calculate the budge in dollars and see for your self.

Ioannes:
well I guess the only consolation in all these is that there won't be massive stealing of the loan under buhari as we witnessed with jona and baba iyabo.

borrowing is the only way to keep the country afloat with the oil price tending towards $0.

adconline:

Keep yapping and being selective in ur responses. It was around 40% under Obj without borrowing and increasing national debt.
It was 31% in 2013; 24% in 2014; 18% in 2015-all without borrowing and doubling national.
But GMB is borrowing to fund recurrent expenditure. He's increasing the already bloated FG expenditure by 70%..

gurunlocker:
by the time they will be going back to daura in 2019, Nigeria will be in serious debt.... change scam.

adconline:

Keep yapping and being selective in ur responses. It was around 40% under Obj without borrowing and increasing national debt.
It was 31% in 2013; 24% in 2014; 18% in 2015-all without borrowing and doubling national.
But GMB is borrowing to fund recurrent expenditure. He's increasing the already bloated FG expenditure by 70%..

adconline:

Keep yapping and being selective in ur responses. It was around 40% under Obj without borrowing and increasing national debt.
It was 31% in 2013; 24% in 2014; 18% in 2015-all without borrowing and doubling national.
But GMB is borrowing to fund recurrent expenditure. He's increasing the already bloated FG expenditure by 70%..

Obiagelli:

It got to 40% under Obj kudos to him but a certain slowpoke (rip) and his drunkard took us 10yrs backwards. In any case it took Obj 2terms to achieve this.


Even after reading that the loans are tied to specific project, you still came up.this crap.

Just btw, what was the value of the naira in 2014 compared to 2016. calculate the budge in dollars and see for your self.