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Nairaland Forum / Nairaland / General / Politics / Nigerian Senate Increases And Passes 2020 Budget (16843 Views)
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Re: Nigerian Senate Increases And Passes 2020 Budget by Coldie(m): 4:10pm On Dec 05, 2019 |
Before Buhari tenure will end half of those senators will be behind bars |
Re: Nigerian Senate Increases And Passes 2020 Budget by Homers123(m): 4:11pm On Dec 05, 2019 |
Same old same old. |
Re: Nigerian Senate Increases And Passes 2020 Budget by Sheriman(m): 4:11pm On Dec 05, 2019 |
Na This kind of People Boko Boys suppose go bomb make them all Die Patapata... |
Re: Nigerian Senate Increases And Passes 2020 Budget by Doyin2(m): 4:13pm On Dec 05, 2019 |
That is the way to go,interdependence,progressive cooperation between executive and legislature. It is only in the case of corruption and constitutionality that there should be independence and non cooperation. Otherwise both legislature and executive should always work in the same direction for the people and common goal. Those who think the legislature is there to antagonise and abuse the executive(as championed by the likes of Dino Melaye),should have their brain examined. 2 Likes 1 Share |
Re: Nigerian Senate Increases And Passes 2020 Budget by Alvin212(m): 4:14pm On Dec 05, 2019 |
Lol Who budget EPP You guys should sod off |
Re: Nigerian Senate Increases And Passes 2020 Budget by Cherrybae1(f): 4:15pm On Dec 05, 2019 |
Madness at its peak what nonsense, Buhari is fucking up and down |
Re: Nigerian Senate Increases And Passes 2020 Budget by Doyin2(m): 4:21pm On Dec 05, 2019 |
shiwex: Never mind,UK was not built in a day. We shall get there,it does not have to be in our life time. 4 Likes 1 Share |
Re: Nigerian Senate Increases And Passes 2020 Budget by Godhatesodomy: 4:22pm On Dec 05, 2019 |
wow |
Re: Nigerian Senate Increases And Passes 2020 Budget by grandstar(m): 4:27pm On Dec 05, 2019 |
The exchange rate used for the budget is N305 while the rate at the import-export window is about 360. The government deliberately shortchanges itself of N55 per dollar. So, let's imagine the dollar portion of the budget is $15b, which means the government is deliberately throwing away N825Billion, or about $2.3bn a year. Lamido Sanusi has been unwavering in condemning this financial tragedy which has put him in the bad books of the Presidency. Buhari who is the architect of this noxious forex policy now wants to borrow $29bn from abroad! The nerve! You're imprudent with what you have and yet, have the boldness to request for such a monstrous loan. Apart from the new tragedy of borrowing $29bn, will he now use the same nonsensical pricing on this loan? That will be the biggest tragedy of all time. 3 Likes 2 Shares |
Re: Nigerian Senate Increases And Passes 2020 Budget by webngnews: 4:27pm On Dec 05, 2019 |
Hmmm |
Re: Nigerian Senate Increases And Passes 2020 Budget by urahara(m): 4:30pm On Dec 05, 2019 |
grandstar: Why is it that anytime they are passing budget they always state the exchange rate ? Is it that the money is in dollars which they will then change to naira ? |
Re: Nigerian Senate Increases And Passes 2020 Budget by grandstar(m): 4:30pm On Dec 05, 2019 |
shiwex: To add salt to the wound, the U.K budget deficit is higher than Nigeria's entire budget. Insult upon injury, raised to the power disgrace. 3 Likes 1 Share |
Re: Nigerian Senate Increases And Passes 2020 Budget by Modikko(m): 4:34pm On Dec 05, 2019 |
It is shameful how people commend on threads or topics they are not too familiar with. I still can’t understand why people will not learn before contributing to issues. People should go and learn “Budget”Basic 101 how it works and how it is funded. |
Re: Nigerian Senate Increases And Passes 2020 Budget by hopexter(m): 4:35pm On Dec 05, 2019 |
shiwex: Stop comparing an accient country like UK to a 59 year old country like Nigeria. ![]() 1 Like |
Re: Nigerian Senate Increases And Passes 2020 Budget by grandstar(m): 4:38pm On Dec 05, 2019 |
urahara: 75% of the budget is received in dollars. This is the money gotten from crude oil. You know crude oil is sold in dollars so the earnings are from dollars. Of course, not all the oil earnings is paid to government. So, let's say crude oil is $55 per barrel, about $30 may come to government. Remember, oil companies will have their own share. I think what is paid to the government coffers is the petroleum profit tax. There may be other taxes but I don't want to write what I'm not sure of. 2 Likes |
Re: Nigerian Senate Increases And Passes 2020 Budget by OyiboOyibo(m): 4:38pm On Dec 05, 2019 |
shiwex: Which weed are you on? Oshogbo or ogbomoso 2 Likes |
Re: Nigerian Senate Increases And Passes 2020 Budget by amaridigital(m): 4:50pm On Dec 05, 2019 |
Doyin2: Sad, very sad. UK budget is almost 30 times that of Nigeria and Nigeria's population is almost thrice that of the UK. Brazil's Budget was $780 Billion.last year. More than 22 times Nigeria's budget and Nigeria has more population than Brazil. Australia with population slightly above 25 million spent $485 Billion last year. That's 13 times the 2020 budget of Nigeria. We really need to find alternative source of generating income as Nigeria is set to replace the US as the world's third most populous country in the next 30 years. How are we going to provide jobs and infrastructure for the 405million Nigerians by 2050? 5 Likes 1 Share |
Re: Nigerian Senate Increases And Passes 2020 Budget by urahara(m): 4:51pm On Dec 05, 2019 |
grandstar: So when the govt collects all this dollars , they then change it to naira. Why arent they using 365 naira to 1 dollar ? |
Re: Nigerian Senate Increases And Passes 2020 Budget by Agboriotejoye(m): 4:51pm On Dec 05, 2019 |
So it's obvious now the reason why Buhari and his zombies did not like the saraki led nass was not due to corruption but instead, that he's not one of them. The nass budget which saraki made public is shrouded under a 500bn secret and no one is saying anything. I can't wait for when buhari will sign this budget and how zombies will hail him to know how mad and hypocritical they all are. The corruption ongoing in this admin cannot be measured by bare hands!! |
Re: Nigerian Senate Increases And Passes 2020 Budget by urahara(m): 4:55pm On Dec 05, 2019 |
grandstar: Pls stop all this na ![]() ![]() ![]() ![]() ![]() |
Re: Nigerian Senate Increases And Passes 2020 Budget by Agboriotejoye(m): 4:55pm On Dec 05, 2019 |
Doyin2:What do you think of the US congress/White house face off since the time of Obama till now |
Re: Nigerian Senate Increases And Passes 2020 Budget by Agboriotejoye(m): 5:02pm On Dec 05, 2019 |
grandstar:The reason for the multiple exchange rate is round tripping which is being carried out by members of the cabal. That's why emefiele was retained for being such a good boy |
Re: Nigerian Senate Increases And Passes 2020 Budget by gr8jobsng: 5:03pm On Dec 05, 2019 |
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Re: Nigerian Senate Increases And Passes 2020 Budget by Doyin2(m): 5:05pm On Dec 05, 2019 |
grandstar: Trash. This is FG budget at official rate of N305. A budget is an estimate of expected revenue and expenditure,it does not equate to actual revenue or spending. Even if you put it at N400,it does nothing to actual spending and revenue. The more reason why we normally compare actual to estimate, via budget variance analysis. The most critical factor in national budgeting is sincerity, accountability and proper execution. The bench mark exchange rate is secondary. Deliberately throwing away $2.3b can only be an absolute fiction of your imagination.It does not exist! 1 Like 1 Share |
Re: Nigerian Senate Increases And Passes 2020 Budget by grandstar(m): 5:05pm On Dec 05, 2019 |
Agboriotejoye: I don't think Buhari is aware of the roundtripping. Buhari is not smart. He retained Emefiele as governor because of his loyalty. If it was Sanusi as governor, Buhari would have cried. ![]() ![]() ![]() ![]() 2 Likes |
Re: Nigerian Senate Increases And Passes 2020 Budget by gurunlocker: 5:07pm On Dec 05, 2019 |
Who noticed that zombies are absent on this thread? ![]() Reason? It isn't Saraki, but the rubber stamp crew... 1 Like 1 Share |
Re: Nigerian Senate Increases And Passes 2020 Budget by ndcide(m): 5:08pm On Dec 05, 2019 |
Budget that wasn't scrutinized... Did MDA's even defend their budget? Isn't it shocking that no body spoke about the level of implementation of the previous budget. Particularly from APC? Not that when Buhari /APC is out of power, they will start talking. These conspiracy of silence will come around. Never forget that. |
Re: Nigerian Senate Increases And Passes 2020 Budget by grandstar(m): 5:10pm On Dec 05, 2019 |
Doyin2: I'm not a banker but the 305 rate isn't coincidental. It mirrors the official rate of 305. Or is it just by chance? |
Re: Nigerian Senate Increases And Passes 2020 Budget by grandstar(m): 5:16pm On Dec 05, 2019 |
urahara: It's Buhari's wish. He said he does not want people to suffer. He said he has not seen anywhere in the world that devaluation has helped. This is a man who thought East Germany existed as at 2015, 16 years after the fall of the Berlin wall! Was he even aware of tbat? I just pray he does not request an official visit to Czechoslovakia or the USSR! 2 Likes |
Re: Nigerian Senate Increases And Passes 2020 Budget by SocialJustice: 5:30pm On Dec 05, 2019 |
quaintbloke:He's not comparing, only proving Nigeria is a poor country. 3 Likes 2 Shares |
Re: Nigerian Senate Increases And Passes 2020 Budget by Mcuzy(m): 5:32pm On Dec 05, 2019 |
7pages:I think say na only me |
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