WHAT THEY DONT WANT YOU TO KNOW BUT IS ALREADY HAPPENNING IN NIGERIA...Ali Momoh. That 20% of the current budget is marked out for servicing loans because of the dwindling revenue base which the falling oil prices has precipitated thus reducing the orgy of stealing which your president has relegated to the 3rd tier of problems crippling our already damaged corruption riddled country. There is no better way to sell to the people of Nigeria what the Government has in stock moving forward right now than the 2015 budget. But wait a minute, close to 20 percent of the budget is for debt servicing, less than a trillion of the budget of NGN 4.4 trillion is earmark for capital expenditure. Actually the initial budget proposal was NGN 4.8 trillion but reduced and capital expenditure suffered the reduction. The benchmark, dont let talk about that. Now the emphasis is on non oil revenue especially taxes. Am not too sure, the structure for massive mobilization anticipated especially in the area of capacity can be achieved within the budget year. so what will happen to the good people of Nigeria, your guess is as good as mine! increase in the poverty level, borrow, borrow, borrow to fund recurrent expenditure and more debt which might become unsustainable
Posted on: Thu, 25 Dec 2014 22:20:55 +0000
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