Re: Buhari Presents 2017 Budget To N’Assembly Today by Atiku2019: 7:28am On Dec 14, 2016 |
OnankpaBa:
and the empty brain man is ruling you with full brain. chai, see life.
That's why we are all going to correct this erroneous mistake called PMB in 2019 1 Like |
|
Re: Buhari Presents 2017 Budget To N’Assembly Today by Nobody: 7:29am On Dec 14, 2016 |
abeg who the first one EPP?
I just dey pray make God intervene |
Re: Buhari Presents 2017 Budget To N’Assembly Today by Luckylife(m): 7:29am On Dec 14, 2016 |
If you don't know where you are coming from how can you guess where you are going. What is the percentage of 2016 budget implemented by APC government? 1 Like |
Re: Buhari Presents 2017 Budget To N’Assembly Today by oluwaSmith1(f): 7:29am On Dec 14, 2016 |
ok |
Re: Buhari Presents 2017 Budget To N’Assembly Today by porshuch: 7:30am On Dec 14, 2016 |
We are waiting for the empty budget. |
Re: Buhari Presents 2017 Budget To N’Assembly Today by Nobody: 7:30am On Dec 14, 2016 |
Atiku2019:
That's why we are all going to correct this erroneous mistake called PMB in 2019 wetin mak u tink atiku will contest 2019? sincerely DAT man wise to act too quickly |
Re: Buhari Presents 2017 Budget To N’Assembly Today by ONeMAnMOPOL: 7:32am On Dec 14, 2016 |
DONSMITH123: John Ameh and Olalekan Adetayo
President Muhammadu Buhari will today (Wednesday) present the 2017 Appropriation Bill to a joint session of the National Assembly.
The document will be the second one to be presented by the President after his inauguration in May 2015.
Buhari, who will be accompanied by top government officials, is expected to present the document at 10am.
The Federal Executive Council had on November 30 approved the document for presentation to the National Assembly.
Speaking to State House correspondents at the end of the council’s meeting, the Minister of Budget and National Planning, Udo Udoma, refused to give details of the budget proposal as approved by the council.
He said it was only the President who would unveil the document on the floor of the National Assembly.
“The 2017 budget has been approved by the Federal Executive Council and the details will be revealed when the President presents the budget to the National Assembly,” Udoma said.
The budget of N6.07tn for 2016 was predicated on a benchmark price of $38 per barrel of crude oil and N197 to a dollar exchange rate.
Meanwhile, members of the House of Representatives have said that the key parameters of the 2017-2019 Medium Term Expenditure Framework upon which the budget will be based are not sustainable, asking the Federal Government to seek more realistic solutions to the economy.
They voiced their opinions as they debated the MTEF in Abuja on Tuesday, less than 24 hours to the presentation of the 2017 budget estimates to the legislature by the President.
The development came as the Speaker, Mr. Yakubu Dogara, declared a public hearing on the controversial Oil Prospecting License 245 open, saying that the House was prepared to assist the government to resolve the issues surrounding the lucrative oil well.
Nigeria is believed to have lost over $1.1bn on the OPL 245, better known as Malabu oil deal.
The MTEF’s crude oil production, benchmark and exchange rate projections for 2017 did not receive the full backing of members.
The government plans to spend over N7tn next year, but revenue projection is around N4.9tn, a figure that also accommodates a huge deficit.
The Majority Leader of the House, Mr. Femi Gbajabiamila, while leading the debate, urged his colleagues to accept the projections.
Gbajabiamila argued that a sudden rise in oil price by about $20 in the past few days suggested that the government could sustain a benchmark of $42.5 proposed in the MTEF.
He also stated that ongoing negotiations between the government and militants in the Niger Delta were indications that peace could return to the region to make the 2.2 million barrels’ daily production projection realisable.
But, other lawmakers called for a review of the projections.
For instance, the Chairman, Committee on Financial Crimes, Mr. Kayode Oladele, said the fact of oil price gaining extra $20 did not justify retaining $42.5 as the benchmark price for the 2017 budget.
He said the price could suddenly drop below $60 or $50, making whatever gains achieved useless.
Oladele said, “Let us look at the daily oil production of 2.2 million barrels; it has not been achieved this year and there are no signs that things will change.
“We can’t even rely on the $42.2 benchmark price because prices are likely to drop.”
Oladele also said the exchange rate of N290 to $1 was not sustainable, adding, “The market rate today is N490/$1, which makes the projection in the MTEF unrealistic.”
Another member, Mr. Shehu Garba, described the MTEF as a document that contained “so many illogical issues.”
“We cannot continue to use figures that are unrealistic. Which of the three exchange rates will be used for investment in Nigeria?” Garba queried.
The Minority Leader of the House, Mr. Leo Ogor, also faulted the MTEF and asked how the government planned to finance the budget deficit.
Ogor noted, “We have not achieved 2.2 million barrels per day of crude in the last five years. Then, there is the budget deficit. We are looking at a revenue of N4.9tn or so, but we want to spend more than N7tn.
“Where is the money going to come from to finance the budget?”
However, the Deputy Speaker, Mr. Yussuff Lasun, advised members to downplay emphasis on the benchmark and the exchange rate, and focus more on the government’s plan to diversify the economy.
“What is more important to us is that this government is serious about diversifying the economy. Let us allow the government to use whatever proceeds from oil to diversify our economy,” Lasun said.
The document was later passed for second reading.
Speaking at the hearing on the OPL 245, Dogara recalled that efforts by successive governments to resolve the controversies had failed, making Nigeria to appear before the international community as a country that was not serious with its anti-corruption crusade.
However, he expressed confidence in the current administration to end the controversies.
Cc: lalasticlala, seun, mynd44
http://punchng.com/buhari-presents-2017-budget-nassembly-today/ Yam budgets DONSMITH123: John Ameh and Olalekan Adetayo
President Muhammadu Buhari will today (Wednesday) present the 2017 Appropriation Bill to a joint session of the National Assembly.
The document will be the second one to be presented by the President after his inauguration in May 2015.
Buhari, who will be accompanied by top government officials, is expected to present the document at 10am.
The Federal Executive Council had on November 30 approved the document for presentation to the National Assembly.
Speaking to State House correspondents at the end of the council’s meeting, the Minister of Budget and National Planning, Udo Udoma, refused to give details of the budget proposal as approved by the council.
He said it was only the President who would unveil the document on the floor of the National Assembly.
“The 2017 budget has been approved by the Federal Executive Council and the details will be revealed when the President presents the budget to the National Assembly,” Udoma said.
The budget of N6.07tn for 2016 was predicated on a benchmark price of $38 per barrel of crude oil and N197 to a dollar exchange rate.
Meanwhile, members of the House of Representatives have said that the key parameters of the 2017-2019 Medium Term Expenditure Framework upon which the budget will be based are not sustainable, asking the Federal Government to seek more realistic solutions to the economy.
They voiced their opinions as they debated the MTEF in Abuja on Tuesday, less than 24 hours to the presentation of the 2017 budget estimates to the legislature by the President.
The development came as the Speaker, Mr. Yakubu Dogara, declared a public hearing on the controversial Oil Prospecting License 245 open, saying that the House was prepared to assist the government to resolve the issues surrounding the lucrative oil well.
Nigeria is believed to have lost over $1.1bn on the OPL 245, better known as Malabu oil deal.
The MTEF’s crude oil production, benchmark and exchange rate projections for 2017 did not receive the full backing of members.
The government plans to spend over N7tn next year, but revenue projection is around N4.9tn, a figure that also accommodates a huge deficit.
The Majority Leader of the House, Mr. Femi Gbajabiamila, while leading the debate, urged his colleagues to accept the projections.
Gbajabiamila argued that a sudden rise in oil price by about $20 in the past few days suggested that the government could sustain a benchmark of $42.5 proposed in the MTEF.
He also stated that ongoing negotiations between the government and militants in the Niger Delta were indications that peace could return to the region to make the 2.2 million barrels’ daily production projection realisable.
But, other lawmakers called for a review of the projections.
For instance, the Chairman, Committee on Financial Crimes, Mr. Kayode Oladele, said the fact of oil price gaining extra $20 did not justify retaining $42.5 as the benchmark price for the 2017 budget.
He said the price could suddenly drop below $60 or $50, making whatever gains achieved useless.
Oladele said, “Let us look at the daily oil production of 2.2 million barrels; it has not been achieved this year and there are no signs that things will change.
“We can’t even rely on the $42.2 benchmark price because prices are likely to drop.”
Oladele also said the exchange rate of N290 to $1 was not sustainable, adding, “The market rate today is N490/$1, which makes the projection in the MTEF unrealistic.”
Another member, Mr. Shehu Garba, described the MTEF as a document that contained “so many illogical issues.”
“We cannot continue to use figures that are unrealistic. Which of the three exchange rates will be used for investment in Nigeria?” Garba queried.
The Minority Leader of the House, Mr. Leo Ogor, also faulted the MTEF and asked how the government planned to finance the budget deficit.
Ogor noted, “We have not achieved 2.2 million barrels per day of crude in the last five years. Then, there is the budget deficit. We are looking at a revenue of N4.9tn or so, but we want to spend more than N7tn.
“Where is the money going to come from to finance the budget?”
However, the Deputy Speaker, Mr. Yussuff Lasun, advised members to downplay emphasis on the benchmark and the exchange rate, and focus more on the government’s plan to diversify the economy.
“What is more important to us is that this government is serious about diversifying the economy. Let us allow the government to use whatever proceeds from oil to diversify our economy,” Lasun said.
The document was later passed for second reading.
Speaking at the hearing on the OPL 245, Dogara recalled that efforts by successive governments to resolve the controversies had failed, making Nigeria to appear before the international community as a country that was not serious with its anti-corruption crusade.
However, he expressed confidence in the current administration to end the controversies.
Cc: lalasticlala, seun, mynd44
http://punchng.com/buhari-presents-2017-budget-nassembly-today/ Yam budgets |
Re: Buhari Presents 2017 Budget To N’Assembly Today by TINALETC3(f): 7:34am On Dec 14, 2016 |
must u quote everything?? ONeMAnMOPOL:
Yam budgets
Yam budgets |
Re: Buhari Presents 2017 Budget To N’Assembly Today by OnankpaBa(m): 7:35am On Dec 14, 2016 |
Atiku2019:
That's why we are all going to correct this erroneous mistake called PMB in 2019 Atiku hope will be shattered before that time. he will have no choice than to jump into another ship |
Re: Buhari Presents 2017 Budget To N’Assembly Today by jchuchu(m): 7:37am On Dec 14, 2016 |
Useless dullard
D ostrich man at it again
Stup1d country 1 Like |
Re: Buhari Presents 2017 Budget To N’Assembly Today by porshuch: 7:38am On Dec 14, 2016 |
Failure is written all over the budget. Where is the Lagos calabar rail? Have dey started it? What of electricity nko? Abi witches and wizard don kolobi that one. Shame on PMB |
Re: Buhari Presents 2017 Budget To N’Assembly Today by DONSMITH123(m): 7:41am On Dec 14, 2016 |
|
Re: Buhari Presents 2017 Budget To N’Assembly Today by Atiku2019: 7:45am On Dec 14, 2016 |
askibee:
wetin mak u tink atiku will contest 2019? sincerely DAT man wise to act too quickly He's the only Politician right now that has the political clout to slug it out with PMB 1 Like |
Re: Buhari Presents 2017 Budget To N’Assembly Today by Ebullience(m): 7:46am On Dec 14, 2016 |
Hope the budget will not be padded this time around |
Re: Buhari Presents 2017 Budget To N’Assembly Today by Nobody: 7:49am On Dec 14, 2016 |
Atiku2019:
He's the only Politician right now that has the political clout to slug it out with PMB I agree with you no doubt they are bird of feathers but don't you tink its unwise? as far as I am concern buhari will push fr his two terms and rule d way he dim fits except God intervene if he his not doing well, I mean am not saying he his not doing well am only going by the law which says pray fr ur leaders and wish dem well |
Re: Buhari Presents 2017 Budget To N’Assembly Today by kassy777: 7:53am On Dec 14, 2016 |
2 Likes |
Re: Buhari Presents 2017 Budget To N’Assembly Today by buchilino(m): 7:54am On Dec 14, 2016 |
Flexherbal: Another budget. Ok. Hope they use it to better the country! SINCE 1999, TELL ME WHICH BUDGET HAS REALLY AFFECTED D LIVES OF D MASSES POSITIVELY. |
Re: Buhari Presents 2017 Budget To N’Assembly Today by DedeNkem: 7:55am On Dec 14, 2016 |
What did he do with 2016 budget? |
Re: Buhari Presents 2017 Budget To N’Assembly Today by DedeNkem: 7:57am On Dec 14, 2016 |
Atiku2019:
That's why we are all going to correct this erroneous mistake called PMB in 2019 You're very dumb for supporting Atiku. One of the most corrupt politicians in Nigerian history! Shame on you!! |
Re: Buhari Presents 2017 Budget To N’Assembly Today by buchilino(m): 7:58am On Dec 14, 2016 |
Luckylife: If you don't know where you are coming from how can you guess where you are going. What is the percentage of 2016 budget implemented by APC government? A THIEF TRYING 2 PROBE ANOTHER THIEF. HOW IRONIC. |
Re: Buhari Presents 2017 Budget To N’Assembly Today by linusbnn(m): 7:59am On Dec 14, 2016 |
|
Re: Buhari Presents 2017 Budget To N’Assembly Today by alizma: 7:59am On Dec 14, 2016 |
God bless Buhari
God bless Nigeria.
those who don't know the meaning of this will still complain. |
Re: Buhari Presents 2017 Budget To N’Assembly Today by Godmyrefuge1(m): 7:59am On Dec 14, 2016 |
his travell budget alowance must be there. |
Re: Buhari Presents 2017 Budget To N’Assembly Today by Atiku2019: 8:01am On Dec 14, 2016 |
DedeNkem:
You're very dumb for supporting Atiku. One of the most corrupt politicians in Nigerian history! Shame on you!! Yes I'm Dumb... Good Morning Bro NgeneUkwenu how's your day Going? |
Re: Buhari Presents 2017 Budget To N’Assembly Today by Femich18(m): 8:02am On Dec 14, 2016 |
Budget of change... Hope we won't hear stories o missing budget,padded budget ET Al now o |
Re: Buhari Presents 2017 Budget To N’Assembly Today by KillJoy62(m): 8:08am On Dec 14, 2016 |
better place a tracking device on it dis time, we no wan hear say dis one don lost. lols |
Re: Buhari Presents 2017 Budget To N’Assembly Today by greatiyk4u(m): 8:08am On Dec 14, 2016 |
|
Re: Buhari Presents 2017 Budget To N’Assembly Today by mjay26(m): 8:12am On Dec 14, 2016 |
to me this the most insulted regime..... Well he deserve what z served, PMB has insulted age, experience, reputation.. He seems act like knw alot by himself now he should most of nysc has made knw his secret of wining, 4 me accepting the clarions 2 serve in one of ks state i notice even an individual can atlist have mininum of ten PVC with only 1 identifying both his face n finger print, the other just the face n we filing incident form...do otherwise n lose ur life, he is nothing bt the head of corruption. Budget or no budget am less concern he should do his worst or better still shearing weapon till further notice mr Angel in agbada... And some mumu wil be here saying what there dont knw. |
Re: Buhari Presents 2017 Budget To N’Assembly Today by Godmyrefuge1(m): 8:13am On Dec 14, 2016 |
thunder strike anybody who shout big thief atiku for 2019, atiku ti ku |
Re: Buhari Presents 2017 Budget To N’Assembly Today by OnankpaBa(m): 8:18am On Dec 14, 2016 |
Godmyrefuge1: thunder strike anybody who shout big thief atiku for 2019, atiku ti ku amen |
Re: Buhari Presents 2017 Budget To N’Assembly Today by thunder74(m): 8:28am On Dec 14, 2016 |
He will still postpone it |