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Nairaland Forum / Nairaland / General / Politics / Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects (18544 Views)
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Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 11:58am On Feb 02, 2016 |
luvinhubby:Does not make it any less savings. 4 Likes |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by caleb404: 12:00pm On Feb 02, 2016 |
Obiagelli: Who has time to entertain you? Me?? Abeg swerve make I see road jare. 1 Like |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 12:04pm On Feb 02, 2016 |
caleb404:Still nothing up there but tantrums. Same ol emptiness 6 Likes |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by adconline(m): 12:29pm On Feb 02, 2016 |
Obiagelli: 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. 10 Likes 1 Share |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by caleb404: 12:41pm On Feb 02, 2016 |
Obiagelli: 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! 6 Likes |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by obayaya(m): 1:19pm On Feb 02, 2016 |
Obiagelli: 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 4 Likes |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 1:32pm On Feb 02, 2016 |
caleb404: Still empty rants. 4 Likes |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 1:44pm On Feb 02, 2016 |
adconline: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.
4 Likes |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 1:56pm On Feb 02, 2016 |
obayaya:I understand that, but my point is that its all government savings just different technicalities. Just like fixed deposit vs savings account, in the end it is savings |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Sealeddeal(m): 2:25pm On Feb 02, 2016 |
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. 10 Likes |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 2:31pm On Feb 02, 2016 |
Sealeddeal: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 3 Likes |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by yaki84: 2:37pm On Feb 02, 2016 |
Obiagelli: 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? 4 Likes |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Sealeddeal(m): 2:45pm On Feb 02, 2016 |
Obiagelli: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. 6 Likes 1 Share |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 2:49pm On Feb 02, 2016 |
yaki84: 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 2 Likes |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by obasiken: 2:52pm On Feb 02, 2016 |
Obiagelli: Please stop lying. |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by yaki84: 2:58pm On Feb 02, 2016 |
Obiagelli: 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. 5 Likes |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 3:00pm On Feb 02, 2016 |
Sealeddeal:As much as i have my problems with several cases of waste in this budget, we have to give the government time to implement his policies. Budget is draw from down to up, a lot of the spendings are tabled up by mdas, it will take at least to years to cut down recurrent expenditure expecially in an economy in recession. I believe we can help our most vunrable and i defend anytime anyday the feed of school kids 2 Likes |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 3:02pm On Feb 02, 2016 |
yaki84: I have not added figures anywhere, if anything else, i have understated figures |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by mmsen: 3:39pm On Feb 02, 2016 |
Turning Nigeria into Ogun state. 2 Likes 1 Share |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 3:41pm On Feb 02, 2016 |
Ioannes:Can you please explain already the multiplicites of fraud in the budgets for the Education sector, as uncovered by the senate budgetary commitee totaling over #10b? We await the gross looting that your gods and saviors are bent on unleashing on this nation. 1 Like |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by 989900: 3:43pm On Feb 02, 2016 |
It doesn't matter if we borrow all the money in the world; what matters is, what are we using the borrowed money for? |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by gurunlocker: 3:44pm On Feb 02, 2016 |
by the time they will be going back to daura in 2019, Nigeria will be in serious debt.... change scam. |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by IVORY2009(m): 3:52pm On Feb 02, 2016 |
Chai!! Chai!! Lai Mohammed junior sister is here ![]() ![]() |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by adconline(m): 4:02pm On Feb 02, 2016 |
Obiagelli: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%.. 2 Likes |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by onatisi(m): 4:02pm On Feb 02, 2016 |
Ioannes:Keep deceiving yourself . By June this year you will know better |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by onatisi(m): 4:04pm On Feb 02, 2016 |
adconline:Don't mind them. They will soon feel the effects very soon then they will join the wailers club |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by onatisi(m): 4:05pm On Feb 02, 2016 |
gurunlocker:
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Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 4:07pm On Feb 02, 2016 |
adconline:How much was a barrel of oil in those year? 1 Like |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by jonced(m): 4:07pm On Feb 02, 2016 |
how will these loans be repaid? The repayment explanation is vague at best. We need a detailed repayment plan as we cannot rely on oil proceeds anymore. Or is it a case of subsequent governments headache? |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by Nobody: 4:09pm On Feb 02, 2016 |
adconline:How much was a barrel of oil in those year? Btw i will remind you next year when some of those recurrent expenditure is cut down by downsizing the civil service. I know you will wail as usual 1 Like |
Re: Adeosun Explains Nigeria’s Borrowing Plans To Fund Capital Projects by adconline(m): 4:10pm On Feb 02, 2016 |
Obiagelli:You are bereft of how budget works.. Those projects are part of his 30% capital expenditure.. If he's borrowing N2.5tn to fund capital projects, that would mean that capital projects are over 40% whereas govt id proposing 30% on capital projects.. Your numbers don't add up. Btw, dollar to Naira conversion is N197 and it has no effect on the budget.. A reminder that Naira has lost value againt $ by 40% since last May. 2 Likes |
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