Before Buhari tenure will end half of those senators will be behind bars

Same old same old.

Na This kind of People Boko Boys suppose go bomb make them all Die Patapata...

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.

Lol
Who budget EPP



You guys should sod off

Madness at its peak
what nonsense, Buhari is fucking up and down

shiwex:
Niger is a broke ass country.....ABUJA, Dec 5 (Reuters) - Nigeria's Senate on Thursday passed a record 10.59 trillion naira ($34.72 billion) budget for 2020,) $35b dollars for 200m people while uk will spend £134b for health service of 70million people. We don die in Niger

NHS England -134 billion GBP
2019
Total Public Spending
in the United Kingdom
Central Government and Local Authority
-5yr -1yr Fiscal Year 2020
Public Pensions £161 billion
National Health Care + £162 billion
State Education + £92 billion
Defence + £50 billion
Social Security + £126 billion
State Protection + £33 billion
Transport + £35 billion
General Government + £17 billion
Other Public Services + £118 billion
Public Sector Interest + £52 billion
Total Spending = £848 billion

Never mind,UK was not built in a day.

We shall get there,it does not have to be in our life time.

wow

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.

Hmmm

grandstar:
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.

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 ?

shiwex:
Niger is a broke ass country.....ABUJA, Dec 5 (Reuters) - Nigeria's Senate on Thursday passed a record 10.59 trillion naira ($34.72 billion) budget for 2020,) $35b dollars for 200m people while uk will spend £134b for health service of 70million people. We don die in Niger

NHS England -134 billion GBP
2019
Total Public Spending
in the United Kingdom
Central Government and Local Authority
-5yr -1yr Fiscal Year 2020
Public Pensions £161 billion
National Health Care + £162 billion
State Education + £92 billion
Defence + £50 billion
Social Security + £126 billion
State Protection + £33 billion
Transport + £35 billion
General Government + £17 billion
Other Public Services + £118 billion
Public Sector Interest + £52 billion
Total Spending = £848 billion

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.

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.

shiwex:
Niger is a broke ass country.....ABUJA, Dec 5 (Reuters) - Nigeria's Senate on Thursday passed a record 10.59 trillion naira ($34.72 billion) budget for 2020,) $35b dollars for 200m people while uk will spend £134b for health service of 70million people. We don die in Niger

NHS England -134 billion GBP
2019
Total Public Spending
in the United Kingdom
Central Government and Local Authority
-5yr -1yr Fiscal Year 2020
Public Pensions £161 billion
National Health Care + £162 billion
State Education + £92 billion
Defence + £50 billion
Social Security + £126 billion
State Protection + £33 billion
Transport + £35 billion
General Government + £17 billion
Other Public Services + £118 billion
Public Sector Interest + £52 billion
Total Spending = £848 billion

Stop comparing an accient country like UK to a 59 year old country like Nigeria.

urahara:


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 ?

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.

shiwex:
Niger is a broke ass country.....ABUJA, Dec 5 (Reuters) - Nigeria's Senate on Thursday passed a record 10.59 trillion naira ($34.72 billion) budget for 2020,) $35b dollars for 200m people while uk will spend £134b for health service of 70million people. We don die in Niger

NHS England -134 billion GBP
2019
Total Public Spending
in the United Kingdom
Central Government and Local Authority
-5yr -1yr Fiscal Year 2020
Public Pensions £161 billion
National Health Care + £162 billion
State Education + £92 billion
Defence + £50 billion
Social Security + £126 billion
State Protection + £33 billion
Transport + £35 billion
General Government + £17 billion
Other Public Services + £118 billion
Public Sector Interest + £52 billion
Total Spending = £848 billion

Which weed are you on? Oshogbo or ogbomoso

Doyin2:


Never mind,UK was not built in a day.

We shall get their,it does not have to be in our life time.

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?

grandstar:


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.

So when the govt collects all this dollars , they then change it to naira. Why arent they using 365 naira to 1 dollar ?

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!!

grandstar:


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.

Pls stop all this na

Doyin2:
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.

What do you think of the US congress/White house face off since the time of Obama till now

grandstar:
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.

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

helinues:
Good to know

Hope no budget padding this time around

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grandstar:
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.

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!

Agboriotejoye:

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

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.

Who noticed that zombies are absent on this thread?


Reason? It isn't Saraki, but the rubber stamp crew...

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.

Doyin2:


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 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 must critical factor in national budgeting is sincerity, accountability and proper execution.

The bench mark exchange rate is secondary.

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?

urahara:


So when the govt collects all this dollars , they then change it to naira. Why arent they using 365 naira to 1 dollar ?

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!

quaintbloke:


Before you try to sound more intelligent than yourself, you can't compare apples and grapes

He's not comparing, only proving Nigeria is a poor country.

7pages:
mumu people. always quick to increase audio budget that had no relevance In the common lives of average Nigerians



lord I won't question you why you created me in this continent but it pained me a lot

I think say na only me