At the recently concluded Federation Account Allocation Committee (FAAC) meeting, N620.65 billion ($3.9billion) was shared amongst the three tiers of... (3) Comment
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Admin ., . June 23, 2013
Admin Note: Bugsy, you assume that all the allocation that was shared only came from proceeds from oll, what about the proceeds from Value Added Tax (VAT), SURE-P, NNPC refunds, etc?
OMOTAYO, J. A. Lagos, NIGERIA June 23, 2013
Mathematics or no Mathematics, let us visit history for a better understanding. In 1998, the total annual national budget was about N230 billion. That amount included provisions for NITEL, PTF, Debt Repayment, etc. In 1999, the national budget including cost of political transition, completion of NASS quarters and remunerations, etc was N300.4 billion.
What joy is there now that about twice the national budget is shared monthly when the federal government has become less responsible? No NITEL, PTF, Debt repayment but more borrowing, etc. The truth is that tomorrow's food is being shared today in pursuit of fantasies. No savings for tomorrow. The future of the young and yet to be born is being compromised by a greedy political elite irrespective of political parties. Hum...um...um!
God save Nigeria.
Bugsy Demola Abuja, Nigeria June 22, 2013
These numbers don't add up. I think the writer did us some disservice. If you shared 620+ and subtract 156 and still end up with 500+. Confusing math you would say.
