abbeg:
I know.That's why I specified they were prototypes before.Soon we'll manufacture them in numbers if all turns out well.

Jonraid:
*ESTIMATES*

Total budget 28B USD

Recurrent expenditure

The 2019 Nigeria's budget proposal.

Here is a look at Nigeria's recurrent expenditure in a country projected to hit 200m as of 2019!

A substantial part of the recurrent cost proposal for 2019 is for the payment of salaries and overheads in Ministries providing critical public services such as

a. N569.07 billion for the Ministry of Interior;(1.5B USD)....They are kidding much!

b. N435.62 billion for the Ministry of Defence;(1.2B USD)....Their superior military!

c. N462.24 billion for the Ministry of Education; (1.28B USD)....No words

d. N315.62 billion for the Ministry of Health. (875M USD)

What a joke!

Key macroeconomic figures

Revenue – Where government is making money

Nigeria is estimating a total revenue at N6.97 trillion(19.4B USD when the estimate is rounded off to 7 trillion Naira) - (which is 3% lower than the 2018 estimate of N7.17 trillion), consisting of oil revenue projected at N3.73 trillion(10.3B USD) while non-oil revenue is estimated at N1.39 trillion(3.8B USD).Non oil revenues 3.8B

Projected revenue from taxes

Companies Income Tax (CIT) - N799.52 billion (2.2B USD) This comes from their companis which are 4-6 times bigger than Kenya's

Value Added Tax (VAT) - N229.34 billion (636m USD)

Customs Duties - N302.55 billion. (838M USD)

Independent Revenues to N624.58 billion. (1.7B usd)

Other revenues expected in 2019 include various recoveries of N203.38 billion(563M USD), N710 billion(11.9B USD) as proceeds from the restructuring of government’s equity in Joint Ventures and other sundry incomes of N104.11 billion(288m USD)

By implication, this shows Africa's largest economy with crude oil as its cash cow will still do below average on its diversification policies as oil

takes center stage in government revenue.

All this are estimates which are greatly hinged on oil income,gdp growth of more than three percent(they will certainly do a best of 2% as of 2019 ),an exchange rate of 305 to the dollar and an inflation of 9.98%

Here is the breakdown of all that!

The 2019 budget is placed on the following assumptions (I love the word assumptions! )

a. Oil price benchmark of $60 per barrel; (Will this be the case? )

b. Oil production estimate of 2.3 million barrels per day, including condensates;

c. An exchange rate of N305/$;

d. Real GDP growth of 3.01%; and

e. Inflation Rate of 9.98%.

I'm not so impressed! With a 350 billion GDP Nigeria's budget should be kicking as**

darfay:



I like how you look stupid even without trying
The budget you posted is only for federal government(states and local government would have everything in its budget from education to health etc)
Who told we can't generate a revenue of #7trillion about $20b
Firs the body in charge of federal taxes generated #5.3 last year which is projected to increase #8trillion this year which almost this size of this years budget.

https://www.premiumtimesng.com/news/headlines/304675-firs-generates-n5-3-trillion-in-2018-highest-in-nigerias-history-official.html
Note Nigeria generated federal taxes of 5.2trillion in 2012(which was about $33.3billion)

Customs generated #1.3 trillion which is expected to increase to #1.5 this year(revenue from customs and taxes alone surpasses the budget estimates)

https://leadership.ng/2018/11/20/customs-to-surpass-n1-3trn-revenue-target/


Operating surplus of government agencies
https://leadership.ng/2018/11/20/customs-to-surpass-n1-3trn-revenue-target/

On a realistic projected income from oil
$50 a barrel @ 2million a day for 365days
=$36.5billion
13% derivation for Niger delta =$4.745billion
56%(31.755)=$17.78 for federal government

The above mentioned are more than enough for the federal government to run a surplus this year

PROVERBZ:
Waooo, Nigerian Army shows Boko Haram that, they are still in charge. just watch and see https:///b1EbfFjjIl


recent video from the same baba iswaps claimed to have captured

rvp2018:
What big deal the economy is growing, banks are innovating and growing.Imf took their cover & we didn't die.The pressure on interest rate cap should be kept a little longer so they can see innovate more.Gov is borrowing cheaply.All the digital creditors are filling the void for high interest lending.Kuria is just a hired gun by bankster and his motion won't see the light of day.

UyiIredia:


You are too kind. When better countries struggle at making planes na Naija. Next 2 centuries we cannot assemble helicopters talkless of build planes.

sufferNsmiling:


See what boko haram is doing to your military slaughtering them

sufferNsmiling:
See video of nigerian soldiers fighting themselves for food and water


https://www.youtube.com/watch?v=6f5aubn3j5Y&app=desktop

Ibrahimanis:

Will you stop spreading fake news?
Apart from the burial picture, the first picture is not even Nigerian camo. c*nt,
the other picture clearly said "allege". retard.

And if you have an iota of decency you will remove these pictures immediately. F*cking bastard

darfay:



I like how you look stupid even without trying
The budget you posted is only for federal government(states and local government would have everything in its budget from education to health etc)
Who told we can't generate a revenue of #7trillion about $20b
Firs the body in charge of federal taxes generated #5.3 last year which is projected to increase #8trillion this year which almost this size of this years budget.

https://www.premiumtimesng.com/news/headlines/304675-firs-generates-n5-3-trillion-in-2018-highest-in-nigerias-history-official.html
Note Nigeria generated federal taxes of 5.2trillion in 2012(which was about $33.3billion)

Customs generated #1.3 trillion which is expected to increase to #1.5 this year(revenue from customs and taxes alone surpasses the budget estimates)

https://leadership.ng/2018/11/20/customs-to-surpass-n1-3trn-revenue-target/


Operating surplus of government agencies
https://leadership.ng/2018/11/20/customs-to-surpass-n1-3trn-revenue-target/

On a realistic projected income from oil
$50 a barrel @ 2million a day for 365days
=$36.5billion
13% derivation for Niger delta =$4.745billion
56%(31.755)=$17.78 for federal government

The above mentioned are more than enough for the federal government to run a surplus this year

sufferNsmiling:
See nigerian soldiers running away from boko haram. They said they do not have appropriate weapons now please tell me does nigeria have a military


https://www.youtube.com/watch?v=Kvd3YgkcMW4&app=desktop

Ibrahimanis:

Let am go. I don tire for their matter I swear.

Total States' budget is almost the same size as Federal budget 2018

Then the local government's, let's say 500m naira each that's 500m x 774 = 3 trillion+ in naira.

But I can't come and go and kill myself

They can say what they want.

Jonraid:
This are facts sourced from your budget proposal tabled in parliament!

https://www.reuters.com/article/nigeria-budget/update-1-nigerias-president-presents-8-83-trln-naira-budget-for-2019-idUSL8N1YO3TE

The 2019 budget has been prepared on the following assumptions:

$60 per barrel of oil
2.3 million barrels per day
N305 to $1 exchange rate
Real GDP growth of 3.01 per cent
Inflation rate of 9.98 per cent

On subsidy, Mr Buhari said it was abused in the past but his government has made NNPC the sole importer and now, the under recovery is from NNPC account while false claim by marketers is removed.

A total of N8.83 trillion is proposed as 2019 budget – Buhari

The breakdown:

Recurrent – N4.04 trillion
Debt service – N2.14 trillion
Statutory transfer – N492.36 billion
Sinking fund – N120 billion
Capital expenditure – N2.031 trillion

https://www.premiumtimesng.com/news/headlines/301857-buhari-presents-2019-budget-to-national-assembly-live-update.html

sufferNsmiling:


Please look at the snapshot again

Jonraid:
Their military men look like the terrorists themselves.Who dresses them?

Ibrahimanis:

and like I said earlier, I know Nigerian camo when I see one. Do what you want.

NairobiWalker:
An Idiot Tanzanian on this thread is very quiet.

Jonraid:
*proposed

Your proposals are always higher than what you actually put on the ground!

Ibrahimanis:

yeah genius *proposed*
What is a budget before if not proposed?

If deficit is what you are talking about then look yourself in the mirror before calling someone ugly.

Kenya's deficit is higher than Nigeria's.

sufferNsmiling:


my friend you are a stark illiterate watch the videos most of the nigerian soldiers do not wear uniform. Just look at the ones running away from boko haram look at the ones complaining where are their uniforms. Most nigerian soldiers do not wear uniforms in the war torn areas so that boko haram cannot sportier they are nigerian soldiers easily so the worst civilian clothes so there is easier to run away when a attack takes place all the need to do is throw away their weapons and claim they are civilians.

Ibrahimanis:

yeah genius *proposed*
What is a budget before if not proposed?

If deficit is what you are talking about then look yourself in the mirror before calling someone ugly.

Kenya's deficit is higher than Nigeria's.

Jonraid:
It's higher but we still cover it? It has reduced though this year which is good news.

Your total budget is nothing more than 15 trillion Naira(the proposed 2019 budget) which is actually a big shame considering your high GDP and population. You can prove me wrong,I'm always on the ready to learn!

Jonraid:
This are facts sourced from your budget proposal tabled in parliament!

https://www.reuters.com/article/nigeria-budget/update-1-nigerias-president-presents-8-83-trln-naira-budget-for-2019-idUSL8N1YO3TE

The 2019 budget has been prepared on the following assumptions:

$60 per barrel of oil
2.3 million barrels per day
N305 to $1 exchange rate
Real GDP growth of 3.01 per cent
Inflation rate of 9.98 per cent

On subsidy, Mr Buhari said it was abused in the past but his government has made NNPC the sole importer and now, the under recovery is from NNPC account while false claim by marketers is removed.

A total of N8.83 trillion is proposed as 2019 budget – Buhari

The breakdown:

Recurrent – N4.04 trillion
Debt service – N2.14 trillion
Statutory transfer – N492.36 billion
Sinking fund – N120 billion
Capital expenditure – N2.031 trillion

https://www.premiumtimesng.com/news/headlines/301857-buhari-presents-2019-budget-to-national-assembly-live-update.html

Jonraid:
The 'assumptions' are dead on arrival

I can't see this happening

The 2019 budget has been prepared on the following assumptions:

$60 per barrel of oil....Really?
2.3 million barrels per day....You'd struggle here!
N305 to $1 exchange rate....It's not happening!
Real GDP growth of 3.01 per cent...2.5% should be a more realistic target!
Inflation rate of 9.98 per cent.....*facepalm*

Ibrahimanis:

Yeah yeah yeah.
From its a shame that Nigeria's budget is about same size as Kenya's to it is a shame that Nigeria's budget is about 15 trillion (about 40billion plus).

As at now the total 2019 budget is 15.737trillion naira (FG + 33 states apart from local governments. Remaining three states to submit their budget to their respective state assembly.

darfay:



I like how you look stupid even without trying
The budget you posted is only for federal government(states and local government would have everything in its budget from education to health etc)
Who told we can't generate a revenue of #7trillion about $20b
Firs the body in charge of federal taxes generated #5.3 last year which is projected to increase #8trillion this year which almost this size of this years budget.

https://www.premiumtimesng.com/news/headlines/304675-firs-generates-n5-3-trillion-in-2018-highest-in-nigerias-history-official.html
Note Nigeria generated federal taxes of 5.2trillion in 2012(which was about $33.3billion)

Customs generated #1.3 trillion which is expected to increase to #1.5 this year(revenue from customs and taxes alone surpasses the budget estimates)

https://leadership.ng/2018/11/20/customs-to-surpass-n1-3trn-revenue-target/


Operating surplus of government agencies
https://leadership.ng/2018/11/20/customs-to-surpass-n1-3trn-revenue-target/

On a realistic projected income from oil
$50 a barrel @ 2million a day for 365days
=$36.5billion
13% derivation for Niger delta =$4.745billion
56%(31.755)=$17.78 for federal government

The above mentioned are more than enough for the federal government to run a surplus this year

It's best you digest what I wrote or do I need to draw a map

Jonraid postf=74975268:

Your proposed budgets turn out not to be the actual for the most of the time.

The 'assumptions' are just dreams!