This government must sha find avenue to steal. Upon all the COVID and borrowing funds, dem still need more to steal.

We're awaiting the said rationale behind the resurface of forgone subsidy

What's the confusion

So long as government controls or sets the price of fuel there is a subsidy in existence.

For subsidy to be no longer on existence, it would be the marketers and fuel depot owners that would be setting the price instead of NNPC

Note. Anyone who abuses me will be reported to the moderators immediately.

I expect you to disagree with me. But don't use intemperate language doing so. You can be civil in your speech.

Thank you. You are free to disagree with me. But no abuse please

below...why subsidy underrecovery has to GO...

I can still remember Buhari and APC promises concerning Fuel subsidy pre 2015 election.

ThatFairGuy1:
We're awaiting the said rationale behind the resurface of forgone subsidy

If government removes subsidy for real, the price of fuel would be above 300 naira per liter.

That's why they don't want to remove it. Too politically expensive.

But since subsidy is associated with corruption it is better to lie that it has gone, than to tell the truth

Only time subsidy goes is when the crude oil price is too low for it to make sense, like what happened recently

Buhari will ruin Nigerians is an understatement that man knows nothing at all
When Atiku said he will privatize NNPC so many where screaming left and right because they don’t know the kinda fraud that takes place behind the scene in NNPC ... government can’t control NNPC

Buhari will ruin NIGERIANS

The reason why government refuses to remove subsidy is because if they do, the price of fuel would be above 300 per liter, like it is in Niger, Benin and Sierra Leone, where there is no subsidy

Removing subsidy is politically expensive, despite the fact that there are long term benefits of lower oil prices, more investment in oil, more jobs , and more refineries and no more scarcity

But APC does not want to be put out of office , so they keep on paying the useless subsidy

Too much confusion in the policies of this government. Best thing is to continue subsidy till dangote refinery comes on stream in 2022 then deregulate

micfoley:
Too much confusion in the policies of this government. Best thing is to continue subsidy till dangote refinery comes on stream in 2022 then deregulate

Yeah, once dangote comes on stream, deregulation is inevitable

Unless you want him to run the refinery at a loss, which won't leave his creditors happy...

kikero:


I am going to report you to the moderators.

Why are you insulting me? You could have made your point without insult.

Good luck

Mokason28:

Good luck

Be more civil in your replies next time.

I did not insult you, yet you chose to call me a goat.

Better be civil please

if you are surprised, na you sabi

What's confusing about it

This government was never transparent!!! Their foundation was built on lies and shamelessness

Them no even send! You will still see some zombies robots here defending their shamelessness

All these joke of governance is on them
Modified:

kikero:


So you don't support the removal of subsidy then.

The problem is, subsidy should have gone since 2006.
,
We spend more on subsidy than we do on education and health all because prices have to be kept low.

I didn't like PDP, but I consider GEJs attempt to partially remove subsidy in 2012 as the right decision. If he had even gone one step further and removed th the thing totally, yes high prices for fuel, but by now, jobs, more investment and refineries, and better economy

And no more smuggling

The same old stories!!!

GEJ wanted to remove subsidy APC staged protest everywhere claiming that there's no subsidy

Then it was sold for N87

Now, they came in, the first thing they did "the party of progressives" was to remove the subsidy and fuel now sells for N145

So which subsidy are they talking about again

Do they think we are foolish or what

Mtcheeeeeew

The only truth now is that we have been scammed by APC!!!

Wiseandtrue:
if you are surprised, na you sabi

What's confusing about it

This government was never transparent!!! Their foundation was built on lies and shamelessness

Them no even send! You will still see some zombies robots here defending their shamelessness

All these joke of governance is on them

So, do you think that government should remove subsidies, and allow marketers to.control the price of fuel,.while privatizing NNPC?

I introduce you to the almighty.

The God of Abraham, Isaac and Jacob. The one who is sitted between awesome cherubims, far above principalities and powers.

The enthroned and the dethroner of Kings. The I am that I am.

I am talking about the God of the spirit of all flesh. Jehovah Adonai himself.

The one in whose presence mountains skip like ram. The Jehovah Elohim.

There is only one God. You serve him through his son, Jesus.

There is only one true God. That's why the devil has more than 5000 gods to confuse humans.

Your job is to find the true God out of the 5000 because your soul depends on it.

One day, you shall stand before the real and true God....in awe and reverence, giving accounts in front of the terrible throne, your soul shaking in reverence and fear...


You think there is no God?

Drop this body in death First.

That second, you will know what's up.

Are you serving the true God?

Be dead sure. Your soul depends on this.

Be critical. Look at your religion very critically because you are on your own on that great day. No one will stand for you.

kikero:


So, do you think that government should remove subsidies, and allow marketers to.control the price of fuel,.while privatizing NNPC?

If Buhari had any form of integrity, subsidy shouldn't even come up at all!!

Nigerians shouldn't face any form of hardship under his regime!!!

That was his promise and a man of integrity always keep his words!!!

I didn't expect that we will be discussing this under his regime!!!
Modified:

Proudlyngwa:


the subsidy under GEJ and PMB are two different things, that of GEJ was apure scam being run by deziani.

I support the gradual removal of subsidy
are nigerians completely prepared for it that i cannot answer

so we now have different definition of subsidy

Now you have brought in another angular scam (gradual removal of subsidy)

What deceit will you guys come with again after this

Kai!!! Na wa oooooo

Can't seem to understand what this means.

Abracadabra!

Corruption season 19..

It's movie in this country. Already got my popcorn and coke...

As usual some people will be in SHOCK

Waiting for h ell rufai and co to occupy Nigeria

Buhari abeg e don do you.. no ruin us patapata



Meanwhile, check my signature

Na wah

Naija I hail thee

This government is really enjoying the doggy style on us.




Fvck APC
Fvck booohari


By the way
If you're reading This


Fvck you





Queenoffucks

Confused. Confusing. Confusion. Association of Political Confusionists

Tackling Diversions By Revenue-Generating Agencies
August 29, 2020

Email: yemi.adebowale@thisdaylive.com

The situation at the Department of Petroleum Resources (DPR), as reflected in its recent presentation to the Senate’s Joint Committee on Finance and Planning, represents the corruption, mismanagement and ineptitude in virtually all federal revenue-generating agencies. The DPR, one of the agencies that have failed to remit good money to the Federation Account as expected, was queried by the Senate for sending a meagre N44.5 billion into the Consolidated Revenue Fund out of the N2.4 trillion it generated in 2019. The situation at the DPR is mind-boggling.

The agency’s Head of Planning, Mr. Johnson Ajewole, who stood in for his DG, Sarki Auwalu, during the enquiry at the Senate, confirmed the frightening gap between what was realised and what they remitted. The DPR management deducted N88 billion from the N2.4 trillion generated last year as 4 per cent approved collection fee. A monstrous N88 billion as cost of collection in one year? I wonder who approved this.

The DPR could not even convincingly account for the remaining unremitted collections, as it simply said overhead and operational costs swallowed the remaining money, without specific figures tied to them. We are talking about over N2 trillion balance here; that’s about 20 per cent of Nigeria’s budget 2020. The Head of Finance and Accounts of the DPR, Mrs. Lilian Ufondu confirmed that the agency had already collected N1.13 trillion in the first eight months of this year for the federal government and it is projecting N3.4 trillion as revenue for 2021. The bulk of these are usually diverted.

Also recently, a N7 billion under-remittance by the National Agency for Food, Drug Administration and Control (NAFDAC) was confirmed. The agency collected the revenue and claimed it was spent on inspection of factories. Over N7 billion spent on inspection! The Chairman of the House Committee on Finance, James Faleke scolded NAFDAC: “In the past few weeks, we have been talking about Chinese loans when the money is there in the system. We have the money in Nigeria but we are not doing the needful. We are not remitting what we are supposed to remit. The private sector will not remit the taxes and you, government agencies, being paid salaries, will not remit. Where will the government get money to fund the capital projects when we have deficit budget every year.”

At the Securities and Exchange Commission, N10.3 billion is spent annually on the salaries of about 600 staff. That’s an average of N15.7 million per person. SEC is one of the most lucrative places to work in Nigeria. Revenue of N8.36 billion generated in 2019 could not even cover its salaries. So, SEC hardly remits anything to the Consolidated Revenue Fund Account. That was why it projected a revenue of N8.3 billion in 2021 while its expenditure was put at N14.4 billion.

At the Nigeria Security and Civil Defence Corps (NSCDC), good money is made from sold confiscated items and executive services rendered by its operatives. This money is never remitted to the Federation Account.

The Nigeria Customs Service (NCS) is the biggest culprit when it comes to diversion and wastage of revenue. Last year, it deducted over N300 billion from revenue collected, under all manner of approvals – seven per cent cost of collection and another two per cent cost of collecting VAT. Customs expenditure in its approved 2020 budget is frightening. Personnel cost will gulp N98.61 billion while overhead cost will guzzle N15.95 billion while it voted N123.59 billion for capital cost. This year, the Nigeria Customs will consume N238 billion of the revenue it would collect for the FG.

I have persistently stated that this country has no business taking loans to fund its budget if the revenue-generating MDAs are well managed. With a good government, the corruption, mismanagement and ineptitude will be tamed, and these agencies will provide enough funds for our budgets.

The other day, I heard the Speaker of the House of Representatives, Femi Gbajabiamila raising the alarm over the continuous diversion of revenue by government agencies. He vowed that the House of Representatives would stop MDAs from diverting revenues they are supposed to remit to the Federation Account. Gbajabiamila also specified that the failings of the revenue-generating agencies pushed the federal government into seeking loans to finance infrastructural development.

He said: “We need to impose deep cuts in the cost of governance and improve internal revenue generation and collection so that we can free up resources that can then be deployed to fund policy initiatives that will enhance the lives of our people. The revenue-generating agencies of the Federal Government of Nigeria have a vital role to play in this regard. There has thus far been a consistent failure to adhere to the revenue remittance agreements to which many of these agencies have committed.

“We have credible reports that these desperately needed funds have in many cases, been diverted to finance unnecessary trivialities. At the same time, the Government is left scrambling for alternative sources to fund priority projects. We cannot afford this dynamic, and we will not tolerate it anymore.

The legislature remains the keeper of the public purse, with broad constitutional authority to act on behalf of the Nigerian people, to ensure that our collective resources are efficiently administered in service of the public good. Let no one be in doubt, the House of Representatives will not hesitate to act on our constitutional authority notwithstanding whatever objections may arise.”

Good that Gbajabiamila recognises that corruption in almost all the MDAs is depriving Nigeria huge revenue. It is not enough to just query these MDAs. The Speaker and his colleagues in the National Assembly should take pragmatic action to end this mess. They should back their tough talks with action, by putting pressure on the Executive to do the needful. A serious Executive, genuinely fighting corruption, would have ended poor remittance of revenue in weeks. Over five years after President Buhari commenced his so-called war against corruption, the story is the same in virtually all the MDAs. Yes, corruption in MDAs predates the Buhari government, but he told us that it won’t be business as usual under him. It was a sham.

Nigerians are agitated by the rising debt profile of the country, with many raising concerns over external loan agreements between Nigeria, global bodies and countries, especially China. Clearly, Nigeria does not need to seek external borrowings, especially from China, if the MDAs fully and honestly remit revenues collected on behalf of the federal government.

State governors should also show interest in the activities of federal revenue generating agencies because they are co-owners. These agencies belong to all the three tiers of government; not just the federal government. This is the truth. Governors must insist on full remittance of revenue collected to the Federation Account. All manner of crooked expenditure must also end.

https://www.thisdaylive.com/index.php/2020/08/29/tackling-diversions-by-revenue-generating-agencies/?fbclid=IwAR3bFTtnAhnTuvmOeLhtJSXww88C3inW8