dividend

Johnrake69:
Where is the money? Why are we still borrowing billions of dollars to fund the budget?

1. Our budget is N8trillion, one trillion is just 1/8th of it.
2.We even need far more than that.
3.Our major income earner is oil. We need oil to be at $120 per barrel to balance the books...and even then we need to borrow some money.
4.Oil is at $60, and it was once at $29. That leaves a deficit of $60 per barrel of oil sold...which has to be made up by borrowing.
5.That is why if APC is serious, they must urgently make our economy an industrial economy. We should be exporting industrial goods, not relying on oil.

Wow... That's a welcome development

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9jakohai:


1. Our budget is N8trillion, one trillion is just 1/8th of it.
2.We even need far more than that.
3.Our major income earner is oil. We need oil to be at $120 per barrel to balance the books...and even then we need to borrow some money.
4.Oil is at $60, and it was once at $29. That leaves a deficit of $60 per barrel of oil sold...which has to be made up by borrowing.
5.That is why if APC is serious, they must urgently make our economy an industrial economy. We should be exporting industrial goods, not relying on oil.

Even if you break the head of a wailer and put all this information there and many more, a wailer will still not understand.
Is a wailer, is a wailer....

MrMoney007:
Everyday fools in government will be deceiving and distracting their fellow fools with imaginary pronouncement of money.

If these huge funds they recover everyday can't be felt in the economy, there is no money anywhere.

I asked again, where is the money?

It's not imaginary. This money are actually paid mostly by importers of goods. Since they increased import duty by 100% to fustrate importers why wont revenue increase?

The higher Dem generate ...the more Dem syphone..

ManirBK:
GOOD DEVELOPMENT WAILERS OVER TO YOU!

Yet another bogus paper achievement!

I am so sure the amount withheld by the custom officer is greater than the amount remitted

9jakohai:


1. Our budget is N8trillion, one trillion is just 1/8th of it.
2.We even need far more than that.
3.Our major income earner is oil. We need oil to be at $120 per barrel to balance the books...and even then we need to borrow some money.
4.Oil is at $60, and it was once at $29. That leaves a deficit of $60 per barrel of oil sold...which has to be made up by borrowing.
5.That is why if APC is serious, they must urgently make our economy an industrial economy. We should be exporting industrial goods, not relying on oil.

Despite these needs,
Could that be the reason why the government cabal men told The NNPC that their account should be excluded from the TSA?

Just asking

I WOULD HAD BEEN SHOUTING HALLELUJAH, BUT KNOWING NIGERIAN CUSTOMS, HALF OF DAT REVENUE MUST HAD BEEN GOTTEN ILLEGALLY.

Lomprico2:

Yet another bogus paper achievement!

U DEY MIND DAT CUCUMBER

BuhariCarryGo:



https://www.dailytrust.com.ng/customs-generates-n1-01trillion-revenue-exceeds-n770-5bn-year-target-by-24.html

Congratulations to the Comptroller General of Customs on feat achieved so far while not dwelling in particular on the huge economic benefits in the increased revenue generation

But emphatically on the call upon all the stakeholders to eschew sabotage most especially on the side of the traders, importers and the exporters deeply involved in the business leading to the service provision by the Nigerian Custom Service and of course the office of the Comptroller General while not leaving out the officers and Men of the service.

And His call on them to embrace the spirit and values of patriotism in all their dealings as this particular line is a recommendation that needed to be retained and taken into consideration in totality of it meaning.

It is also worthy of Note the overwhelming reduction in the number of casualties to the bearest of 6 for a clip of the modus operandi isn't worth it at all given risky operative situation on display therein.

The family of the deceased are however comforted while urging the Service Authority to do everything possible within the dictate of the service to the bereaved families not have any cause regret over their spouses involvement with the service as a venturing.



PROPHET TB JOSHUA

LOVELY UNITARY GOD

It would have been more but for thousand of unmanned borders.

9jakohai:


1. Our budget is N8trillion, one trillion is just 1/8th of it.
2.We even need far more than that.
3.Our major income earner is oil. We need oil to be at $120 per barrel to balance the books...and even then we need to borrow some money.
4.Oil is at $60, and it was once at $29. That leaves a deficit of $60 per barrel of oil sold...which has to be made up by borrowing.
5.That is why if APC is serious, they must urgently make our economy an industrial economy. We should be exporting industrial goods, not relying on oil.

What you have listed make lots of sense. Buh if you look at the proposed budget it's nothing buh waste.
No wonder Dino Melaye termed it Boju Boju budget.
Every year we keep buying catering equipment, computers, cars, furniture etc. If those yearly items are cleared that budget shouldn't be more than #4trillion

We can't keep borrowing to fund corruption.

And please oil never sold for $120 under GEJ. Today Nigerians buy premium motor spirit at #145 even when the prices of crude oil is down to $60.

I don't know if you're currently in Nigeria. If you noticed, the queues are back in our filing stations some states gets the products for almost #300 per litre. We are back to square one.

In summary, there is no sincerity on the part of the government. If PMB had implemented 10% of the things he said during his campaign we would have seen real changes.

A big kudos to the Nigerian customs. this goes to show that every sector of the Nigerian economy can work perfectly if only people would be dedicated to achieve the feat.

jamesibor:
This is rather a poor performance considering that they generated above N900bn in 2014 when the dollar was at N155. Now that dollar has more than doubled, that earning should have at least been almost double since customs duty is paid as a percentage of the cost of import which is in dollars and then converted to naira using current exchange rate.

Poor performance all in all.

Zombies led by sarrki and seunmsg over to you.

And you forgot that the increase in dollar price discouraged lots of import operations?

9jakohai:


1. Our budget is N8trillion, one trillion is just 1/8th of it.
2.We even need far more than that.
3.Our major income earner is oil. We need oil to be at $120 per barrel to balance the books...and even then we need to borrow some money.
4.Oil is at $60, and it was once at $29. That leaves a deficit of $60 per barrel of oil sold...which has to be made up by borrowing.
5.That is why if APC is serious, they must urgently make our economy an industrial economy. We should be exporting industrial goods, not relying on oil.

Of Course you do have valid points but 1 out of 8 is meaningful enough comparing the prevailing circumstances surrounding the generation itself that is isn't about free will of compliance but mostly by forceful aggression and implementation of the laid down rules of engagement in that clime of import and export zone activities.


The ultimate point of yours as submitted actually caught Our (GOD) attention and thus, if We (GOD) may ask, Is it truly possible at this stage of Our National life actually export goods other than Agricultural produce?

The answer is a capital No right? If yes, then it means that yourself actually made that reference out of making known your view though else it should have specified your particular finished goods or product/Commodity you have in mind.

Above all, There is a Divine and Heavenly respite in the direction of huge revenue generation though as it is more or less a SPIRITUAL EXPORT COMMODITY IN Truth if such expression can be used in describing it.


And it can summarily be captured as the below which is why We need to change our orientation and understanding most especially Our negative online expressive tendencies that reflects a total collapse of moral values, respect for elders, constituted Authorities and Our diverse cultural heritage that should have been the strongest point for defining Our Unity in diversity.

The message though, If given the maximum awareness it deserves for the Nigerian youths to sheath their swords of tribal bigotries and disunity to stand up in Love, Speak with One voice and give or point Our fingers to the direction We (GOD) have given Nigeria the Authority over going by it status as the SEAT OF PARADISE KINGDOM ON EARTH FOR SURELY THIS WORLD IS STILL THE SAME PARADISE WE PROMISED EXCEPT THAT IT REQUIRES TO UNDERGO THE NECESSARY AND DESERVING TRANSFORMATION IN TRUTH AWAY FROM THE PRESENT STATUS.

HAVE A GO AT THE MESSAGE

*2. It shall be Monthly payment*

*3. There is the choice of composite payment of any of the combination of 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, or 12 months depending on the matter of convenience*

*4. Beneficiaries includes*

*~Elderly*

*~Widows*

*~Orphans*

*~physically challenged*

*~less privileged*

*5. PAYMENT SCHEDULE*

*A. Payment are to be made to the beneficiaries directly as can be seen around.*

*B. In the case of difficulty in locating the beneficiaries, Payments can be made to the Spiritual Leaders in PASTORS, EVANGELIST, IMAMS, ALFA etc for onward delivery to the beneficiaries as they could even be CHURCH MEMBERS or belonging to the COMMUNITY MOSQUE around Mankind.*

*C* *Like it had been revealed already that special living environment shall be provided for the aforementioned categories of beneficiaries relative to the SPECIAL FUND RAISING MECHANISM during the #PILGRIMAGE/#HAJJ exercises, It shall indeed be given adequate attention to absolutely in other to give room for the corporate organization's humanitarian services and Community development/service responsibilities discharge of their own form of tithe/offering related activities and the ease of locating the aforementioned beneficiaries as well.*

*That would even make it easier for them to capitalize on the advert opportunities that such arrangement can offer in ramification of Time, Energy and financial implication of locating the beneficiaries indeed.*


*B*

*OFFERINGS/SADAKAT/GIFT/SEED_SOWING etc*

*1. This is NOT COMPULSORY*

*2. The value is limitless. ie Any amount can be given or paid*

*3. Same beneficiaries are applicable as well as the SPIRITUAL LEADERS MENTIONED ABOVE TOO*

*4. NO TIME FRAME for it as it can be paid secondly, minutely, hourly, daily, weekly, monthly or yearly as the spirit directs and the heart pleases*

*5. But remember that We (GOD) are more pleased in seeing MANKIND obey Our (GOD) COMMANDMENT OF LOVING YOUR NEIGHBOR AS YOURSELF in sharing your gifts and possessions with One another as YOUR? NEIGHBORS ARE MORE OR LESS EVERYONE MENTIONED ABOVE ALREADY as that is also a part of WORSHIP on Our part*

*IT IS WITH THE WARMEST OF REGARDS AND THE BEST OF HUMBLENESS IN HUMILITY THAT THE ABOVE IS REACHING MANKIND THIS MORNING.*

*WISHING YOU ALL STAY BLESSED WHILE LOOKING FORWARD TO YOUR FULL COOPERATION IN OBEDIENCE AS THE OBEDIENT & FAITHFUL SERVANTS THAT YOU ARE.*




*#PROPHET_TB_JOSHUA*

*#LOVELY_UNITARY_GOD*

webincomeplus:

And you forgot that the increase in dollar price discouraged lots of import operations?

That's why earnings for 2015 and 2016 were abysmally low. Imports have picked up this year.

I know because I'm an importer and the records are there for anyone to access.

ManirBK:
GOOD DEVELOPMENT WAILERS OVER TO YOU!

If you are wise, you will be asking why we are still taking a loan despite these stories of

- revenue collected,
- loot recovered,
- unpaid subsidies saved
- bank stamp duty
- TSA savings

barawo bubu and the 40 thieves cabal presidency of the All Poverty Congress, APC have plunged us in recession and borrowing loans upandan

Why is no one asking why we are in recession despite budgets as follows:

2015 - N4.5 trillion
2015 - N2.1 trillion supplementary requested / N575 billion approved
2016 - N6.06 trillion
2017 - N7.3 trillion


Sources: http://www.reuters.com/article/nigeria-budget-idUSL5N0YB49M20150520
http://dailypost.ng/2015/11/18/buhari-seeks-n2-1trn-supplementary-budget-for-2015/
http://www.vanguardngr.com/2015/12/senate-approves-n575bn-supplementary-budget-for-buhari/
http://www.vanguardngr.com/2016/05/buhari-signs-n6-06trn-2016-budget-change/

www.nairaland.com/attachments/3366370_125927734333042835425381910869646342089244n1_jpeg1d4b88cded8ebcb69839caf542969a5a

Johnrake69:




And please oil never sold for $120 under GEJ. Today Nigerians buy premium motor spirit at #145 even when the prices of crude oil is down to $60.

I don't know if you're currently in Nigeria. If you noticed, the queues are back in our filing stations some states gets the products for almost #300 per litre. We are back to square one.

In summary, there is no sincerity on the part of the government. If PMB had implemented 10% of the things he said during his campaign we would have seen real changes.

1. Note that i said we need oil to be at $120 per barrel....not that oil sold for $120 under GEJ.
2.Under GEJ, oil was between $107 in 2011 and $96 on the average in 2014. Yet, we need oil to be at $120 per barrel to balance the books. The reason why things looked good under GEJ was because of heavy dipping into our foreign reserve..NOT THE EXCESS crude account...which dropped from $47bn in 2011 to $28bn by 2015.If it wasn't for Emefielle's belt tightening....
3.I live in Nigeria...and see queues.
4.Why do we have queues?
.. Because govt subsidises fuel. So long as govt sets prices, there is a subsidy.
..Because oil has fallen, we don't have enough money to fund subsides...
...Because we are consuming more fuel than we can produce at home, we have to import..which depletes foreign exchange.(Emefielle is really a good manager.)
...Because of the fall in oil revenue...the naira value is falling..meaning less forex to keep the value of the naira up....which means we need more naira to get one dollar
...And, paradoxically, because oil has risen from $28 in 2016 to $64 now..the cost of imported fuel has gone up from N132 in 2016 to N141 today. Meanwhile, NNPC is forcing independent marketers to sell fuel at N145
...INDEPENDENT marketers have in one month seen their profits drop by 10 naira per liter...and they still have to pay staff. Naturally they can no longer afford to sell fuel at N145...meaning they hoard fuel...or increase prices anyway.(This happened during the last admin. Fuel sold for N97 , later N87...meaning marketers then made just N2 profit per liter...no wonder some people were selling fuel at N100-170, even N200.)

There is a solution that has existed since the early 1990's...and that is deregulation. In other words, govt allows marketers set their prices. Because it means that PMS could retail for as high as N200-300, this govt won't touch it with a nine foot stick.BUT..long term, it could allow for investment to flow in, and for a price fall eventually...We deregulated GSM...and we had to put up with N7000 SIM before investment and market forces, and technology kicked SIM prices to N500 today.

Sorry for long story.

jamesibor:


That's why earnings for 2015 and 2016 were abysmally low. Imports have picked up this year.

I know because I'm an importer and the records are there for anyone to access.

Imports might have picked up in the sense that importers have started business again. But in terms of quantity, many haven't bounced back.

For example, car dealers are still importing cars, but the quantity has reduced drastically. Not just because of dollar increase, but also because internal demand for goods is low.

webincomeplus:

Imports might have picked up in the sense that importers have started business again. But in terms of quantity, many haven't bounced back.

For example, car dealers are still importing cars, but the quantity has reduced drastically. Not just because of dollar increase, but also because internal demand for goods is low.

All in all, the marginal increase eis still poor when you convert the figure to dollars.

Fukafuka:

That thief
How much was he generating then
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9jakohai:


1. Note that i said we need oil to be at $120 per barrel....not that oil sold for $120 under GEJ.
2.Under GEJ, oil was between $107 in 2011 and $96 on the average in 2014. Yet, we need oil to be at $120 per barrel to balance the books. The reason why things looked good under GEJ was because of heavy dipping into our foreign reserve..NOT THE EXCESS crude account...which dropped from $47bn in 2011 to $28bn by 2015.If it wasn't for Emefielle's belt tightening....
3.I live in Nigeria...and see queues.
4.Why do we have queues?
.. Because govt subsidises fuel. So long as govt sets prices, there is a subsidy.
..Because oil has fallen, we don't have enough money to fund subsides...
...Because we are consuming more fuel than we can produce at home, we have to import..which depletes foreign exchange.(Emefielle is really a good manager.)
...Because of the fall in oil revenue...the naira value is falling..meaning less forex to keep the value of the naira up....which means we need more naira to get one dollar
...And, paradoxically, because oil has risen from $28 in 2016 to $64 now..the cost of imported fuel has gone up from N132 in 2016 to N141 today. Meanwhile, NNPC is forcing independent marketers to sell fuel at N145
...INDEPENDENT marketers have in one month seen their profits drop by 10 naira per liter...and they still have to pay staff. Naturally they can no longer afford to sell fuel at N145...meaning they hoard fuel...or increase prices anyway.(This happened during the last admin. Fuel sold for N97 , later N87...meaning marketers then made just N2 profit per liter...no wonder some people were selling fuel at N100-170, even N200.)

There is a solution that has existed since the early 1990's...and that is deregulation. In other words, govt allows marketers set their prices. Because it means that PMS could retail for as high as N200-300, this govt won't touch it with a nine foot stick.BUT..long term, it could allow for investment to flow in, and for a price fall eventually...We deregulated GSM...and we had to put up with N7000 SIM before investment and market forces, and technology kicked SIM prices to N500 today.

Sorry for long story.

I understand your point. Buh you didn't address the issue of waste in governance. All these are as a result of bad leadership. I don't agree that we need oil at $120 to balance our books which is really not feasible.

We have to eliminate waste then focus on restructuring. There has to be productivity at the local government level. That's how China emerged. The governors of each state has to put the local communities to work instead of waiting to share oil money from Abuja.

This is the 21st century. The greatest resource today is human capital.

seunmsg:
This goes to show that it is not all about wearing heavily starched uniform but about competency and administrative acumen. Kudos to the Hammed Ali and his team. This also goes to show that the war against corruption is being won quietly. Under the past administration, they wouldn't even meet the target due to corruption not to talk of exceeding it.

seunmsg:
This goes to show that it is not all about wearing heavily starched uniform but about competency and administrative acumen. Kudos to the Hammed Ali and his team. This also goes to show that the war against corruption is being won quietly. Under the past administration, they wouldn't even meet the target due to corruption not to talk of exceeding it.

Heavily starched uniform.
This one got me rolling

Johnrake69:


I understand your point. Buh you didn't address the issue of waste in governance. All these are as a result of bad leadership. I don't agree that we need oil at $120 to balance our books which is really not feasible.

WE DO NEED OIL AT $120.
That is because of our large population and our sharing the national cake economy which stifles productivity.
Saudi needs oil at $70, Russia needs it at $99

We have to eliminate waste then focus on restructuring. There has to be productivity at the local government level. That's how China emerged. The governors of each state has to put the local communities to work instead of waiting to share oil money from Abuja.

This is the 21st century. The greatest resource today is human capital.

If by restructuring you mean each state increases industrial output and exports industrial goods, and makes itself attractive to industries to come and invest...then i am for it.

Desyner:
From money Nigerian spent buying the goods igbos imported.

Ur foolishness is devine, if u are not a kid you should know importers pay excessive custom duties

jamesibor:
This is rather a poor performance considering that they generated above N900bn in 2014 when the dollar was at N155. Now that dollar has more than doubled, that earning should have at least been almost double since customs duty is paid as a percentage of the cost of import which is in dollars and then converted to naira using current exchange rate.

Poor performance all in all.

Zombies led by sarrki and seunmsg over to you.

I was going to emphasize the above too (exchange rate), however, don't you think the exchange rate increase and recession would have affected the volume of imports?

The news while seemingly good, needs a rather in depth forensic analysis.

P.S. NCS generated N977b in 2014.

dreamworld:

Ur foolishness is devine, if u are not a kid you should know importers pay excessive custom duties

And if you aren't a bonafide retard, tell me who does the importer passes the cost to ?

I am waiting to see the divinity of your own intellect.

989900:


I was going to emphasize the above too (exchange rate), however, don't you think the exchange rate increase and recession would have affected the volume of imports?

The news while seemingly good, needs a rather in depth forensic analysis.

P.S. NCS generated N977b in 2014.

Whichever way you look at it, it's a poor performance.

[b][/b]

hypertension:
So, where is the money na? Things have not improved since the APC says we are out of recession.

Probably, in some places, things are okay; But for where i dey, this your One trillion revenue nor add anything to the situation.

We will continue to pray that you guy'z work something out. Because if this contry fails, na we (the masses) go suffer am pass oh..

Where is d money
Why not ask your useless Governors about it, who have suddenly gone mute after receiving December allocations and d 3rd tranche of Paris Club refund?
Why not ask your senators and reps who drain 20% of our yearly budget in d name of salaries and emoluments?