Nigeria Exchange
News
About Us Advertise NgEX.com News Business Addresses Nigeria Events Newspapers Newsletter More
Search Nigeria Sites & Businesses Search Tips


 
News General Sports Business Odd / Funny Tech Entertainment Articles Author Login Comments More Categories Author List
 
 
Nigeria has no savings - Excess Crude Account has only $3.6bn - Dr. Okonjo-Iweala
| April 13, 2012
Nigeria's co-ordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, has warned over the depletion of Nigeria's Excess Crude... (2) Comment


 
   

Comments

"The views and opinions expressed in these comment(s) or article(s) do not necessarily reflect the views or opinions of NGEX, its partners or its affiliates."
OMOTAYO, J. A.    Lagos, NIGERIA    April 14, 2012
Psalm 146:3 states: "Do not put your trust in nobles...". I disagree with the Mrs Okonjo-Iweala. There has been fiscal indiscipline in Nigeria since 1999 till date, whether at Federal, State or Local Government levels. With the Fed Govt, it was worst between 2003 and 2007. Budget 2002 had N1.447trn accual expenditure even with COJA, Commonwealth Heads of States Meeting (CHOSM), etc. held. Budget 2003 with N1.5trn without COJA, CHOSM, etc surpassed budget 2002 by a margin. Budget 2007 was worse. It was N2.3trn even after the "downsizing" in the public service.

Do you call a flood a water dam just because the rainfall outweighs the drainage capacity? That was what happened between 2003 and 2007. A barrel of crude at $18 benchmark in 2002 rose to over $70 in 2007. PMS sold at N26 per litre in 2002 went up to N65 per litre. Forget about Mr. Obasanjo's N75 per litre. Crude production was 0.8 mbpd in 2002 but went up to 2.4 mbpd in 2007. Any one can do the Arithmetic.

God save Nigeria.
abiamone    London,     April 13, 2012
One source of expenditure is paying bills. What about the billions stolen by politicians? What effort is being made to recover these? The government should embark on money-saving exercises. One such exercise is to agree with EFCC on "No-Win-No-Pay". The EFCC seems to be costing more than it is recovering from Ibori and the likes.
Results » 1-2 of 2
Result Page »  <   1  >
 
Submit a Comment. Comments will be approved before they are displayed (HTML tags are allowed)
Name* :
Comment* :
City :
Country :
   
*Note: Please enter the text shown in the box below. (Text is case sensitive)
 
  NGEX welcomes and encourages reader comments. Permission to post reader comments is assumed, and we reserve the right to excerpt or edit comments for clarity. We may not be able to publish all comments and cannot vouch for the accuracy of posts from readers. Nickname or name will be used to identify your post.
 
 
follow NgEX on Facebook
 
Submit An Article
 
"Press Releases"    More »
IS THIS TRULY MUTINY?????????
Abiodun Idris | December 22, 2014
Greatest Nigeria students and masses of our dear country. I want to start this write up by saluting...
Submit A Press Release »
 
News / Comments   More »
Debts: What you should know as a Nigerian entrepreneur
February 25, 2016 | Gary Crenshaw | 1 posts
It is normal for businesses to owe money at the beginning of a business. That's what separates entrepreneur...  Post comment »
10 Lucrative Business Opportunities in Nigeria
December 03, 2015 | OJOMA THOMAS | 3 posts
How can I start a snails business,fairly used clothes and a poultry7071  Post comment »
 
 
Article / Comments   More »
Yoruba Origin Of Bini & Da Lagosians
July 29, 2017 |  N/A | 1 posts
This article is full of nonsense  Post comment »
Abani, Emeagwali, Oyibo: Trouble in Nigerian Paradise
April 29, 2013 |  Ojonimi Adegbe | 1 posts
Great article. I think this should be placed more out there for people to read and if possible for the...  Post comment »
Ribadu Remains The Only Saint That Led Anti-Corruption EFCC
December 19, 2016 |  Lawrence | 1 posts
Interesting piece. Let's continue to speak out.  Post comment »
 
Poll
 
Submit An Article
 
 
   
     
 
Copyright © 2005 -2013 NgEX. All rights reserved.