PDP accuses Buhari of planning to borrow N5 billion daily in 2016

Olisa Metuh, Spokesman, PDP

The opposition Peoples Democratic Party, PDP, has accused President Muhammadu Buhari of planning to borrow at least N5 billion per day to finance the N6.08 trillion 2016 budget.

The spokesperson of the party, Olisa Metuh, who spoke with reporters on Tuesday in Abuja, said a breakdown of the N1.84 trillion to be borrowed by Mr. Buhari to fund the budget shows that Nigeria would be borrowing N5 billion a day for the next 365 days, starting from January I, 2016, without corresponding provision for economic production and a clear repayment plan.

“Some people may be wondering why we raised an alarm about the budget. The reason is simple. When we analysed the budget, we discovered it is a misshapen attempt at a Keynesian economics of applying deficit spending to stimulate growth even when studies have proven that GDP growth rates decrease by over 50% when debt goes from low or moderate to high. But then we know the borrowing here is to pay huge campaign debt and fund a political war chest.

“By every standard, this budget is a booby trap against the nation. When you break down the proposed N1.84 trillion borrowing, you discover that it amounts to borrowing N5 billion every day for the 365 days in 2016. The questions are: for what specific projects are they borrowing N5 billion per day and how do they intend to pay back?” Mr. Metuh said.

The PDP spokespersons said Mr. Buhari should explain to Nigerians how his government intends to pay back the loan.

“Is it by continuous borrowing to service the interests, and does he intend to accumulate colossal debt for future generations of Nigerians?

“The truth is that this administration cannot justify this proposal. There is no known economy in the world where you can justify borrowing N1.84 trillion without specific projects and precise repayment outline.

“This is worse still in an oil-driven, mono-economy at a time crude oil is selling at $30 dollars per barrel and is speculated to go down to about $20 dollars or even lower in the next one year. The idea can only come when you diversify the economy and boost production capacity in manufacturing and other critical sectors, a direction, which the budget clearly failed to provide.

“From all indicators, the borrowing will be negative. They are driving us to be like Greece, and to plunge us into unnecessary debt,” he said.

Mr. Metuh also said when the PDP took office in 1999, the party succeeded in the cancellation of inherited debts. He said Mr. Buhari is now seeking to accumulate more debt for the country.

He warned that no country would be ready to cancel Nigeria’s debt again.

“More importantly, we are really worried about negative economic policies of the present administration and the copying of strategies that failed in other economies.

“Recall that we had earlier alerted on the negative consequences of the retrogressive foreign exchange controls wherein this government is making it impossible for honest Nigerians to engage in free trade and regulate their personal activities.

“There seems to be the erroneous belief that the controls will create foreign exchange stability or strengthen the Naira by limiting foreign currency outflows. This policy had badly affected other countries in the recent past; including Argentina, whose new government had to reverse the policy to save their economy. Why then are we copying a policy that failed in other countries?

“In practice, the kind of crude controls the Federal Government is implementing have been proven ineffective in preventing capital flight. By limiting the local availability of foreign exchange, the controls have instead increased the demand for foreign exchange, putting greater pressure on the naira and achieving the exact opposite of what the government in its naivety believed would happen.

“The negative impacts of the ill-conceived controls include the hindering of international trade and discouraging of foreign investment,” Metuh said.

He said current measures are crippling the private sector in Nigeria because businesses are being killed as a result of unavailability of foreign exchange.

Mr. Metuh challenged the Federal Government to a public and open debate on the budget.


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  • AGA

    APC cannot do worst than what you Pdpigs put this country in your 16 years of mismanagement, we are solidly behind Mr president Buhari and his policies.

    • ‘elewele

      Nigerians are lost. They can’t assess anything by itself. Tell Nigerians
      that their country has been falling off the cliff since Buhari resumed on
      29th May. Nigerians will retort in speculation that it would have been
      worse under Jonathan, but that’s nonsense retort that’s aiding the
      deepening of the Nigerian mess, because it is a license to Buhari
      to continue incompetently to make the Nigerian situation worse,
      after Jonathan was voted out for making Nigeria bad. Secondly,
      there’s no way of knowing what Nigeria would have looked like
      under Goodluck Jonathan today, so no fact can be asserted on
      that point with any truthful confidence except as mere guesswork.
      Jonathan is used as Buhari’s alibi for Nigeria’s current messiness.
      Nigerians who buy into that idle talk have nothing in their heads.

      • David Musaed

        Your whole family will fall but Nigeria will rise above all haterz. Bast@rd

      • Peter_Edo

        i pity you.

  • Bashir

    The budget is before the National assembly and so already opened to debate. PDP can provide this robust challenge through their members in the Ass’y

    • Julius

      They cant. The lack the knowledge and the capacity to do that. They are mad because Buhari will share no money with them.

  • JasV

    Which one is better? To borrow 5billion naira daily and use it wisely or to steal 5billion naira every hour from the treasury as you bastards did before God cleared you and your descendants out of His sight. Your punishment has not started yet.

    • Peter_Edo

      abeg ask them!

    • bjay

      Borrow 10billion a day use it well is better steal 100 million

    • Akinwande Kolawole

      What kind of judicious spending is this;

      ~~ N13, 525, 001 for newspapers, magazines & periodicals

      ~~Purchase of BMW Saloon cars – N3,630,000,000

      Local travel & transport (others) for Mr President – N714,540,706,197

      Food stuff & other catering materials & supplies (Mr President) – N114,967,140

      ~~Construction/Provision of recreational facilities – N764,671,015′

      ~~Purchase of health/medical equipment for State House Clinic – N3,219,555,017

      ~~Installation of electrical lighting and fittings – N618,604,265

      ~~International Travel & transport (others) – N701,166,070

      Purchased of c-caution, fire extinguisher, tow ropes – N27,000,000

      Honorarium & Sitting Allowance (Mr Vice President) – N9,813,643

      Construction/Provision of recreational facilities – N764,671,015

      ~~Miscellaneous – Honorarium & sitting allowance N169,396,805
      Refreshment & Meals N104,744,097

      ~~Linking of cable to drivers rest room at Villa Admin – N322,421,971

      ~~Purchase of fixed assets
      motor vehicles – N3,889,015,000
      buses-N362,000,000

      ~~Fuel and Lubricants – N90,499,510

      office furniture-N67,129,08

      ~~Kitchen equipment -N89,172,300

      ~~N485, 259,859 for materials & supplies. This is made up of stationery, computer supplies, books, newspapers & magazines/periodicals, etc

      ~~N107, 998,869 for travels & transport

      ~~Maintenance of motor vehicle/transport equipment – N202,328,275

      ~~Other maintenance services N53,189,85

      ~~Maintenance of office building/residential quarters – N278,041,172

      PRESIDENCY CUTTING COST BY SPENDING MORE?

      2015 Budget for Presidency: N24.5 Billion

      2016 Budget for Presidency: N39.1 Billion
      Difference: N14.7b

      Sure you are okay?

  • Dan D. Blocker

    @JasV1:disqus

    History will vindicate me. When Nigeria fails and is unable to function well anymore,
    history will note my dissent here that what’s been going on in Nigeria since June 2015
    is NOT the meaning of change, but a thoroughgoing worsening of Nigeria on all indices.
    No sensible person borrows 5 billion Naira everyday and expects to prosper in future.
    Alas, the media is hostage if not barnacled to today’s power interest as the media
    only stutter – unable to speak out clearly – like accomplices to a nation’s ruin.

    • JasV

      Where were you when the government was borrowing and at the same time stealing at a rate faster than cancer cells can eat up the immunized system of the thieves? Let history vindicate but God will justify this government. Watch the next twelve months.

    • JasV

      Nothing wrong with borrowing as long as it is done for good purpose and
      better still for projects that will enable repayment. Think of how
      unproductive and demoralized as a workforce Nigerians will be if
      salaries are not paid. The past government was borrowing into their
      rotten stomachs.
      Additionally the most progressive, well developed
      country that I know is USA, but who is the greatest debtor? To make
      matters worse they are a debtor to one of the most communist country in
      the world. In my view emphasis should be on what are we borrowing for
      and how is it being used. Lastly the rogues, the poverty stricken
      descendants of those who never saw wealth before and accidentally saw
      it, abused it, raped it, misused it must keep their mouths shut. The
      last government not only borrowed, it borrowed and stole at the same
      time.

      • NoSpinEd

        When you borrow money from any bank at a given interest rate, you or future generations will be compelled to pay more back than you borrowed even if you had the greatest of intentions. Greece is in real trouble today for this very reason. The US is not that far behind, that is what the endless debate about the deficit in the US Congress is all about. It only makes sense to borrow when you have the discipline and know-how to generate enough income to cover your principle and interest and have a lot left over to maintain a robust economy. How are we going to generate that level of income?
        I am glad that the opposition has finally come up with a substantive issue worthy of a healthy and (hopefully) non-partisan national debate.

    • Paul Young

      You will be ashamed

    • Amir

      You voted for continuity of the Dumbo order. What you are seeing now is different, yet you are looking for change, perhaps with your lantern! Even if a Shakespeare CD is inserted in your brain, you’ll still fail literature. Kpele!!

  • evidence

    This is how buhari and his military co travelers ‎racked up the Paris Club debt that Nigerians paid for under Obasanjo, now buhari wants to plunge Nigeria into another debt crisis. 
    Borrowing trillions to fund social welfare, instead of capital projects that would be of economic value,  on a benchmark of $38 dollar for crude when a barrel is now $30 is economic harakiri. 

    • i still dey laugh

      THIS OLISAH METUH NO KNOW BOOK! SEE HIS MOUTH ASKING WHICH PROJECTS
      PRESIDENT BUHARI WANTS TO DO BY BORROWING FIVE BILLION NAIRA EVERY DAY.
      DID BUHARI SAY THE BORROWING IS FOR ANY PROJECT? THE ₦5BILLION DAILY DEBT
      IS TO PAY CIVIL 67% OF PUBLIC SERVANTS SALARY AND OVERHEADS- SIMPLE!

  • ‘Toni Eremosele

    I am in a hurry and off to the train station. Just a quick one. Nigeria will become a failed state
    in 2016 if Buhari borrows 5 billion Naira a day for recurrent expenditure against falling oil price,
    because imports will become so dear against local currency that government expenditure
    will become un-affordable. Anyone that can reason logically should actually know this fact.
    Nigeria did not enter into this mess under Goodluck Jonathan for lack of debts and therefore,
    debts were not what Nigeria needed since Jonathan was kicked out to remedy Buhari’s vacuity.

    • aisha ani

      Goodluck Jonathan, left the debt.

      • Questandquest

        @aishaani:disqus

        You alright so? I beg this is comprehension disgracing you here. Read the Premium Times story again.
        People are talking of a man that wants to mortgage Nigeria irresponsibly, you are talking another thing.
        Where is the productive activity in the 2016 budget for good CHANGE – just point to it, we are all ears.

        • aisha ani

          The question is are you alright?

        • Amir

          You are used to Jonathan’s simplistic word document template as budget where every year the same items reoccur. The guy told you 30% is for capital expenditure, yet you are asking about productive activity. Na wao. PDPigs sef? Think about a balance sheet, where does capital expenditures sit in a company’s manufacturing expenses? Ask your neighbors for help. Ideas are not painful to the brain.

      • Burning spear

        already Buhari has borrowed over 5b dollars———————–we are going to service these debts with over 1,36 trillion naira monkey–whwere is the money going to come from? Just to serveice the debts-

    • Paul Young

      how is it for recurrent expenditures if 30% was budgeted for CAPITAL expenditure for the first time ever

      • Mathematician2000

        @disqus_uP68jp3KoD:disqus

        Good question. It means ₦70 in every ₦100 of that ₦1.8trillion loan will go to recurrent expenditure.

  • Ade Omowest

    Metuh should remember that Jonathan borrowed $1billion before elections to fund the procurement of military equipment to fight insurgents, but the money ended in the pockets of PDPig goons as being exposed now by Dasuki. Olisah Metuh should keep quite and allow Buhari and his team to work.

    • REDEEM

      Jonathan under dasuki spent security votes–not money for the yeye propaganda talks of APC–How could Buhari have fought the boko haram war–Did Buhari buy any arms till date? Free Dasuki for us to hear the truth period–do not keep him locked up in the gulag of buhari

      • Ade Omowest

        He will have his days in court.

  • bjay

    Please metuh allow buhari to govern this country because pdp rule for good sixteen years no direction , no good policy and the only economic policy the pdp give nigerians is to empty our treasure . so let buhari rule at least before sixteen years nigerians will no the best between pdp and apc.

    • REDEEM

      Another Buhari mice with the Apes in APC back–with their lies—Monkey! Nigeria is dying dead under Buharis–Motor Park Economic Plans for the country. It was worst than this when he came over 30 years ago! Soon Buhari will turn 9ja into Chad–A man who foolishly prepared his budget around 38 dollars per barrel for my crude oil in the SS-needs to have his head examined-Whereas the price is about 30 dollars–Mrs. Madueke left 5.6b dollars—in NNPC for Buhari. Yet Buhari went out of his way to borrow from the world bank more than $2b for NNPC again-?–What did he do with the $5.6b the woman left for him in NNPC? -He blew away over 4.4trillion for this years budget-and went on to ask for more money–800b from the Senate—Revenue is now in the hands of REMITA–9ja now pays REMITA to collect revenue for her–who owns REMITA–? Yet-we still have no light— no water–roads—–no fuel—All Buhari does is to play the blame game on Jonathan! And some nitwits are saying Nigerians should exercise patience– with rogues like Buhari, ati Aisha his wife –Amaechi–tinubu- dambazua–prof Yakubu of INEC and fashola abi? Animals

  • Femi Aribisala

    APC’s bogus propaganda is partly responsible for the deaths and destruction in Kimba, Aladuwari and Maiduguri, the full extent of which are yet to be determined. The false victory procession of APC chieftains provoked the Boko Haram to contradict them at the cost of Nigerian lives. It is way too early to call for the impeachment of Mr. President. But it is high time to call for the retirement of Lai Mohammed. We must not allow this local “Comical Ali” to continue to use Nigerian lives to score cheap political points.

    While the APC was busy celebrating the fictitious death of Boko Haram, the New York-based Institute for Economics and Peace declared in its latest Global Terrorism Index that Boko Haram “has become the most deadly terrorist group in the world.” The day before Mohammed’s bombast, UNICEF declared that Boko Haram has succeeded in keeping over one million children out of school, warning that this is likely to add fuel to the insurgency by radicalizing the youth in the North-east.

    • Amir

      Online wailer! You go tire for propaganda. I do not know why party leadership have decided not to ever dignify, at least your age, with a response. You seem too inconsequential despite being online every week shouting yourself crazy. People who know you say your time at NIIA was riddled with gossiping about other staff, even with that must the world ignore you so disgracefully? Look no further: go for deliverance, for your white clothes may indeed be the stinking garment that attract only flies to you.
      For your reminder the article is PDP’s rant about the 2016 budget, not on BH. I know you have serious challenge with calculations, please ask your friends to help.

      • pheliciti

        The man ran and is now posting with his other moniker, Redeem. He should know that we are tired of the voices of bigoted clowns that oppose people just because of differences in religion or tribe. The UNICEF report and GTI reports were based on occurrences over a period of time and I fail to see why he didn’t point out his mentor’s role in getting us to where we are. Any sane mind knows that it’s easier to destroy that build and it would take more than 6months to repair a 16 yr damage. Perchance Aribisala and his cohorts should compare how much of OBJ/ Yaradua savings GEJ wasted and debt he incurred compared with what will be borrowed to jump start the economy. He won’t however, he’s blinded by hatred.

    • Burbank

      And GEJ lost.

  • Paul Young

    Whilst i agree that the foreign exchange policy wont stand the test of time, on the other hand i have no qualms with borrowing money to finance a budget with 30% capital expenditure for the first time in our history. I would love for all my brothers, sisters and neighbours to have good jobs, we all drive on good roads and not scared of armed robbers in the day or night, go to well equipped hospitals and have a standard of living comparable to even some parts of south africa. If that means the country has to settle huge debts then so be it. The debt is not even a fraction of what PDP stole in 16yrs so at least i am sure it can be paid in another 16yrs from now. Frankly olisa metuh and PDP have no moral right to criticise this budget. Assumption makes an ASS of all of us. If they take this loan and use it for political financing(like the PDP did) then we can criticise them and cry foul

    • Femi Aribisala

      It was Lai Mohammed who told Nigerians the promises of the APC during the election were actually not from the APC. The APC denied its key presidential campaign documents: “My Covenant with Nigerians” and “One Hundred Things Buhari Will Do in 100 Days.” Buhari himself presents one of the documents in the first person, saying: “The covenant is derived from the manifesto of my party, the All Progressives Congress. It however represents my pledge to you all when I become your president.”

      But once he became president, Mohammed denied them. He swore that: “Buhari never promised to do anything in 100 days, that’s the honest truth.” However, when APC Senators were forced to vote against their own campaign promise to provide N5,000 monthly to 25 million unemployed Nigerians, Mohammed declared that the government already has 1.4 trillion naira recovered from banks through the TSA ready to fulfil the promise. He said we should expect it in the 2016 budget.

      These are his words: “The non-implementation of the payment policy so far is due to the fact that it was not included in the 2015 budget. The Muhammadu Buhari administration has been busy putting in place measures that will make it possible to start the implementation of this project.”

      This has turned out as usual to be another tissue of lies. The 2016 budget has now been announced, and there is nothing about the N5000 stipend for the 25 million unemployed.

      • Amir

        There’s no point reciting Ten Commandments when you don’t believe in God. If you memorised APC manifesto and now impatient for its implementation for your own good, then vote them in 2019 for the moral right to demand fulfilment and the benefits. I know you can’t wait for the unemployment benefits!

  • Femi Aribisala

    It was Lai Mohammed who told Nigerians the promises of the APC during the election were actually not from the APC. The APC denied its key presidential campaign documents: “My Covenant with Nigerians” and “One Hundred Things Buhari Will Do in 100 Days.” Buhari himself presents one of the documents in the first person, saying: “The covenant is derived from the manifesto of my party, the All Progressives Congress. It however represents my pledge to you all when I become your president.”

    But once he became president, Mohammed denied them. He swore that: “Buhari never promised to do anything in 100 days, that’s the honest truth.” However, when APC Senators were forced to vote against their own campaign promise to provide N5,000 monthly to 25 million unemployed Nigerians, Mohammed declared that the government already has 1.4 trillion naira recovered from banks through the TSA ready to fulfil the promise. He said we should expect it in the 2016 budget.

    These are his words: “The non-implementation of the payment policy so far is due to the fact that it was not included in the 2015 budget. The Muhammadu Buhari administration has been busy putting in place measures that will make it possible to start the implementation of this project.”

    This has turned out as usual to be another tissue of lies. The 2016 budget has now been announced, and there is nothing about the N5000 stipend for the 25 million unemployed…..

    • Amir

      You repeatedly failed to make any impact with your weekly online rants. I think your pound-of-flesh employers PDP have now deployed you as online response assistant. You are Welcome! Now I see why you can’t wait for APC’s unemployment pay to save you from further humiliation from that Shylock party. Servant no dey know age!!

      • Burning spear

        Only those who helped to rig Buhari into power via the USA ati Jega and the Fulani toddlers, imported from Chad that we saw thump printing ballot papers for Buhari on CNN, will fail to appreciate the wonderful work Femi Aribisala, is doing for the Nation-He is too clean to be dragged into an arguement with the ever (moaning moruners) in APC led by a Buhari mice like you!

        • Amir

          The USA rigged Buhari to power, and you saw the thumb printing on same US CNN?. Hmmm. Why was it not shown on NTA that “appreciate the wonderful work Femi Aribisala is doing….”? It seems recovering lost minds in this country may be more daunting than recovering PDP loot. I pray those in charge of yours don’t give up.

          • Artful ºDodger

            You made a lot of sense @Amir. I particularly agree with you on the concluding part of your comment.

          • Burbank

            Lolz

    • Chuks

      Femi, you are like a man who cannot remember his wife’s name, but readily mentions the name of his enemy’s wife. I put it to you that you find that woman more attractive than your own wife. If you don’t know PDP’s manifesto but that of APC, then you are attracted to ….

    • Burbank

      Elections’ over- try again 2023.

  • TC

    Noise maker…… Better than what your looting party did. Ask your partners in crime to return the loot and maybe it will not be necessary to borrow if not keep thy smelly beak shut. Miscreant

  • West

    So what if Buhari burrows N5b per second and spend same to fix Nigeria that your party systematically destroyed over 16 yrs. Jonathan earned and burrowed average of N26b per day and stole virtually everything and shared it with rogues like u. Relax EFCC will soon get to your turn.

  • Artful ºDodger

    Seriously, i am glad power changed hand anything else, Nigeria would have been battling with a civil unrest by now. Oliseh Metuh one of the baby factory product gone wrong, Your PDP led government had a so called technocrat as the coordinator of the economy but look at where her voodoo knowledge of economics led Nigeria. I was one of those who thought she will run the Nigeria economy like magic because she was of the World Bank but got disappointed at the end because she just like everything else PDP turned out a failure.
    Nigeria can borrow to fund the budget. Even at 10billion naira daily it is welcome. The money will boost Nigeria´s economy and not that of those lending us the money like in the past when you all would have stolen and returned the money back to them. That is the difference this government and its team is bringing to the table. Waywardness and mediocrity will no longer be the way to go but a focused economic direction guided by patriotism which non of you have in the PDP and can never have in your miserable excuse for lives!

  • 007Wayasi

    THE SENATE SHOULD STOP BUHARI FROM WRECKING NIGERIA.
    TEN BILLION DOLLAR LOAN IS SILLY, EXCESSIVE AND RECKLESS.

    • Chuks

      Who let the dogs out? It is not compulsory to comment. There’s no punishment for silence if you can’t comprehend the discussion.

      • Burbank

        LOLz..gbam

    • 333oleh

      @disqus_UxVAvGuiki:disqus

      President Buhari has today finished one-eight of his term in office.

      Where is CHANGE? Where is progress under Buhari? Where is result?

      Jonathan is irrelevant to the issue of whether Buhari is honest or competent.

      Assess Buhari for who he is and did and stop looking for crutches to prop him up.

      • Burbank

        “President Buhari has today finished one-eight of his term in office.”

        After he finished his remaining seven-eight of his term in office.

        • 333oleh

          @Timurlame:disqus

          IF MORNING SHOWS THE DAY THIS BUHARI GOVERNMENT WILL
          MORE LIKELY THAN NOT BANKRUPT NIGERIA BECAUSE THERE’S
          NO THINKING BEHIND THE GOVERNMENT OR INSIDE THE CABINET.
          – JUST A SLEW OF RIFF-RAFF BLABBERS WITHOUT DEEP THOUGHT.

          • Burbank

            The CBN governor is still there (an appointee of GEJ) while several international financial commentators on Bloomberg and Reuters had praised Buhari’s fiscal policies.

          • 333oleh

            @Timurlame:disqus

            Totally false, sir! JP Morgan is the gilt-edged institution on Wall Street. Okay?

            JP Morgan in August threw out Nigeria’s loan bonds out of its index, you heard that?

            You guys in Nigeria are fucked. That’s a supreme financial verdict you’ve got right there.

            You know what that means? You’ll lose access to easy foreign loans or pay high premiums.

            That’s the effect of Buhari’s primary six (6) economics irritating enlightened folks out there.

          • Burbank

            Just like India, China, Malaysia and Russia.

          • Chika

            @Timurlame:disqus

            Hahahahha! I dey hear you. Thieves want change the lives of their victims!

            Yeye dey smell. Nonsense upon injury. Ol’ boy Nigerians no get head at all.

  • sammyctu ode

    metuh, PMB was very transparent during his budget presentation to the nation, also his Minister of Budget & Planning gave us all the breakdowns and the borrowing aspects so why are you crying wolfe? I think this boy called metuh just love to open his mouth and talk rubbish since he has nothing to do at the pdp secretariat which is now a ghost anytime i pass through there. What he has forgotten is that Nigerians are very smart and intelligent people and no matter how long he cries, nobody believes anything he says. Useless boy, your criminal party ran Nigeria into the grave for 16 years and you still have the audacity to open your evil mouth to talk thrashy stuffs all the time. metuh, please, start preparing your handover note because soon EFCC will pick you up to explain what work you did for criminal jonathan worth N640 Million. I can now see why you pdp pigs ran Nigeria aground because it’s people like you making useless unintelligent decisions for us in the last 16 years.

  • absam777

    Olodo Metuh is this what NOI and the World Bank have been feeding you? You are no lover of Nigerians.

  • Jones

    Dangote can borrow money to invest wisely and grow his company, Dokpesi will borrow the same amount for political propaganda. This is the difference between APC and PDP.

  • favourtalk

    Can this looters and loosers keep mute for years and learn how true democracy is been played in nigeria. Bunch of shameless party that had nothing to offer nigeria for 16years

  • Okafor Emeka

    Audaciously reckless, wasteful, mis-prioritised & based on pure fantasy. Nigeria will bleed to death if this 2016 budget is passed. Horrible.

  • Akinwande Kolawole

    The 2016 budget is human capital development friendly and promoting Education health & infrastructure– PM Buhari

    ~~ Getting some budget breakdown of the presidency budget N13, 525, 001 for newspapers, magazines & periodicals

    ~~Purchase of BMW Saloon cars – N3,630,000,000

    Local travel & transport (others) for Mr President – N714,540,706,197

    Food stuff & other catering materials & supplies (Mr President) – N114,967,140

    ~~Construction/Provision of recreational facilities – N764,671,015′

    ~~Purchase of health/medical equipment for State House Clinic – N3,219,555,017

    ~~Installation of electrical lighting and fittings – N618,604,265

    ~~International Travel & transport (others) – N701,166,070

    Purchased of c-caution, fire extinguisher, tow ropes – N27,000,000

    Honorarium & Sitting Allowance (Mr Vice President) – N9,813,643

    Construction/Provision of recreational facilities – N764,671,015

    ~~Miscellaneous – Honorarium & sitting allowance N169,396,805
    Refreshment & Meals N104,744,097

    ~~Linking of cable to drivers rest room at Villa Admin – N322,421,971

    ~~Purchase of fixed assets
    motor vehicles – N3,889,015,000
    buses-N362,000,000

    ~~Fuel and Lubricants – N90,499,510

    office furniture-N67,129,08

    ~~Kitchen equipment -N89,172,300

    ~~N485, 259,859 for materials & supplies. This is made up of stationery, computer supplies, books, newspapers & magazines/periodicals, etc

    ~~N107, 998,869 for travels & transport

    ~~Maintenance of motor vehicle/transport equipment – N202,328,275

    ~~Other maintenance services N53,189,85

    ~~Maintenance of office building/residential quarters – N278,041,172

    PRESIDENCY CUTTING COST BY SPENDING MORE?

    2015 Budget for Presidency: N24.5 Billion

    2016 Budget for Presidency: N39.1 Billion
    Difference: N14.7 Billion (Increased by 60%). Buhari is a notorious yam eater.

  • Pam Daylop

    PROPAGANDA vs AGRICULTURE in Budget Of Change

    Lai Mohammed get 39.6 Billion to do 365 festivals in 2016

    But agriculture gets a lot less

    Yet Buhari says he wants to diversify the economy

    Yet with a vast land mass and fertile soil, Buhari believes propaganda is more important than growing rice and cassava and sorghum for export.

    I’m not surprised because APC survives only on lies and propaganda so they need more money to spread out lies daily to continually deceive their blind followers and divert attention from the incompetence of Buhari

  • Ademola Arowosaye

    A critical look at the 2016 Appropriation Bill presented for approval to the National Assembly by President Buhari is nothing other than an unrealistic document by a President who seems not to give a damn.
    No serious government will misplace its priority more than the Buhari’s government, as exposed by its 2016 budget proposal.

  • Gbenga Adebola

    It is very absurd and ludicrous that a country like our is fast gliding headlong into economic catastrophy,largely aided and abetted by the APC led government of PMB and a great majority of all those who are supposed to know and admonish would simply keep quiet leaving only Olisa Metuh to the task.

    Only a f00l that would think this is a party issue… Imagine a country borrowing to be shared among politicians in the APC and some clowns and bigots are talking about political party!

  • Preye Aganaba

    There is a lot of sense in this statement by Metuh . Its clear that the APC government are anti-people with the kind of policies they promulgate.

    What a budget! Information gets more money than Agric and Solid Minerals. Lai Mohammed wants to organise 365 days cultural owambe. Not even in the giddy days of high petrodollars of Gowon did we embark on such unprecedented Jamboree. An austere looking first families that assaulted us with pictures of drinking tea with milo satchet wan spend almost 2 billion naira to feed exclusively. We are jokers walahi.

  • Timothy Aseer

    the incompetence of Buhari’s team and his greed as encompassed in this budget is alarming and worrisome,it’s not even about the criminal figures.the budget does not have an economic direction. it largely conflict with fiscal policies recently introduced.

  • Ifeanyi Chukwujekwu

    In 2015, the sum of 10,561,427 was budgeted for the purchase of Recreational facilities at the State House. While cutting cost in 2016, GMB has budgeted the sum of 39,075,000 for same. It’s ridiculous that Mr. Buhari is borrowing to fund this wasteful lifestyle of his. Where is the change Nigerians?

  • joe

    Why is this guy not yet in jail?