re Jonathan & Okonjo poor managers or currupt public officers? Many of us do not know but Nigeria makes an average of $20billion dollars (N3 trillion) in oil and gas revenue a year. Nigeria also makes N5 trillion from Federal taxes. From Customs duty, Nigeria makes another one trillion. That is a total of N9trillion. If you add a typical year of $10 billion in Excess Crude Account, you are looking at an annual income of over N10trillion.In a typical year, Nigeria budgetsN4.9 trillion. N10 trillion in revenue minus N4.9 trillion budgeted you have about N5trillion out there for politicians to play with. If we were to share the N10 trillion naira revenue amongst 170 million Nigerians,every citizen should get N59,000.00 naira each. A typical family of six will get N354,000.00 a year.And if Jonathan closes the loophole through which N750billion is lost in stolen crude oil,even if it is by 50%, an additional N370 billion will come in. Last December, Ngozi Okonjo-Iweala announced proudly that Jonathan’s government has recovered N29 billion naira from oil marketers out of N234 billion certified as stolen. Again if Jonathan ends the waste from oil subsidy, at over N600 billion a year, Nigeria will get an additional revenue of one trillionnaira a year for a grand total ofN11 trillion each year.Meanwhile, Nigeria’s external debt has been on the increase since Ngozi Okonjo Iweala came back. It is projected to hit $20billion in external debt and N6trillion in domestic debt next year. That means, in less than 10years after Ngozi Okonjo Iweala paid $12.4 billion of Nigeria’s money to the Paris and London Clubs to fulfill her now abandoned goal of having Nigeria as a debt free nation, Nigeria’s debt is back in full.President Jonathan is lucky that Nigerians are too busy with more important things – fighting over Chelsea and Manchester United and Arsenal and the decision the coaches of each team make each Saturday and how the European league referees perform on the pitch. So far, Nigerians have abandoned their own team, their own coaches, their own referees,their own pitch and the matches that affect their lives the most.The day Jonathan’s luck will run out is the day Nigerians will grab a calculator and add up these billions and trillions. Until then, it is mere exaggeration when I say; I come to bury Jonathan not to praise him.
Posted on: Thu, 05 Sep 2013 09:18:10 +0000
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