Confusion: 3 versions of 2009 budget in circulation

Opposition parties in the House of Representatives on Wednesday raised alarm over the circulation of three versions of the 2009 budget proposal, saying that the development was a pointer that the budget would suffer poor performance, which characterized of the 2008 budget.

Leader of the opposition parties, Hon Ali Ndume, who admitted that the alarm was coming a little bit late, regretted that the Senate rushed to pass the budget into law without proper scrutiny that revealed series of contradictions and gross inconsistencies.

Accusing the Peoples Democratic Party-led Federal Government of promoting corruption from the front door, he said the way the government was going, the 2009 budget would record a dismal performance just as the country witnessed with the last budget.

“What the PDP government is doing with the budget thing is breeding calculated fraud to perpetrate corruption in the system,” he accused the Yar’Adua government.

Please fellow nairalanders, can the Nigerian government ever be 1% competent?

Is this true? When will Nigeria's public officials cease to amaze and start doing things like real human beings. Are they really from a different planet?

They release a version of the budget to the public and another to themselves. It's not even like the one released to the public is satisfactory enough but they still want to steal more.

It's Hellish!!!

Awesome!

Everything is possible in Naija naw

They may need to check the site to get an updated version of the budget ooo!! Billions no be joke oo !!

Signs of a failed state does not always include an ongoing war

What is shocking in a country known to harbour a warehouse of imppossibilities?
Wonders shall never cease to haappen in our GREAT country.

just when you thought Nigerian lawmakers couldn't surprise us

Is this possible?

Nigeria ja ga ja ga - Government ja ga ja ga -

@ post,

    When i tell people that hades is not so different from Nigeria (with special reference to weather, environment and inhabitants) they tend to shrug it off but with news like this, i'm damn right sure we r in Hades!!!

Well that is not shocking. You guys will even be amase to hear that the reason House of Rep is refusing to pass the budget as done in the senate was the Discovery of 40b projects that had already been commisioned about two years ago! When the House committee asked for explanation, the ministry said "it was a mistake!"

Ojo Maduak had been avoiding the house since december. He claimed to have renovated some embasies at bilions of naira but could not provide the names of the embasies!

I think the house should be commended for refusing to rubber stamp the budget as presented by the president.

The reason for 3 budgets is that the House caught them unaware. The president submited a budget, but the ministries (and civil servants) submited another. Yet, the house have their own version which was harmonised after the president first sent the budget to the house. . .

Now, I understand how corruption spread.

What kind of a country is this? and these people are collecting salary abi?

just when u think it can't get any worse, they pull another sleazy trick out of the hat. it can only be interpretted as 'neglect' of duties in our courts unfortunately. kudos to the opposition for whistle-blowing on this one. but will someone be held accountable for this 'corrupt act' is the million dollar question.

ojimbo IV:

will someone be held accountable for this 'corrupt act' is the million dollar question.

This is the first time I'll see a million dollar go to waste because nobody would be held responsible hence the million dollar question would go unclaimed.

FBS:

Is this possible?

@FBS
For Abuja politicians, it's no big deal!

Are you surprised? One of the budgets satisfies the greed of the Executive, the second satisfies the whims and caprices of the Legislature, while the third one will be used to feather the Judiciary's wigs. Nothing for the masses _{except grumbling and writing of dogon turanci on NL} because they failed to belong to any of these 3 arms

of course I'm surprised. This is a disgrace. How can we now talk of effective management when there are 3 versions of how to spend the funds? corruption is crying BIG TIME.

FBS:

Is this possible?

Dey there now. Wht is impossible with Nigeria?
Tell me why the world won't hold such a humiliating opinion about Nigeria reading such a headling. The government which were supposed to fight corruption are the architect of corruption in Nigeria.
I strongly believe that the day of Judgement will soon come up Nigerian leaders,when them and their families will pay squarly for all the pains they have caused to Nigerian citizens.

Kobojunkie:

They may need to check the site to get an updated version of the budget ooo!! Billions no be joke oo !!

Who told you that? Igbinedon paid paltry sum of 3.5m for stealing billions.

I am surprised that ONLY THREE versions are in circulation!

I never knew that we even have a budget at all. Abeg, forget those 'yeye' thieves jare; let us discuss better things.

I came across a copycat site for nairaland; check it out at http://www.mynaijaspace.com

lmao!!! ,of course Nigeria has not changed and yes, its a surprise their bag of tricks can never be empty.

Wait first, is it so hard to figure out who is supposed to write the budget?

Nigeria!!! which way forward

We lucky say na only 3 versions dey circulate.
As e no reach to give every nigerian im own version each we thank God.

no matter what nig still have hope

Nigeria's lower house okays 09 budget of 3 trillion naira


Nigeria's House of Representatives approved a 3.087-trillion-naira (21-billion-dollar) budget for 2009, eight percent up from that proposed by President Umaru Yar'Adua, documents showed on Friday.

The budget for Nigeria, the world's eighth largest oil producer, was based on a crude oil sale price of 45 dollars per barrel down from 59 dollars the previous year.

Prices have now fallen so far in recent months that the 45-dollar figure, initially hailed as very conservative, now looks over-optimistic.

Africa's most populous nation relies heavily on oil and gas, which according to the World Bank rakes in 99 percent of export earnings and 85 percent of government revenues.

Nigeria's daily oil production is projected at 2.29 million barrels, lower than the 2.45 million barrels projected, but not attained, for 2008.

Actual production in 2008 averaged just over two million barrels a day, because of the unrest in the southern oil-producing Niger Delta, according to Yar'Adua.

The budget sets aside five billion dollars in funding for joint venture projects with foreign oil companies.

Oil majors have long complained that the state oil company Nigerian National Petroleum Corporation (NNPC) is unable to meet its funding committments in joint venture projects.

In December, Yar'Adua had presented a 2.87 trillion naira budget. A House committee said the increase was accounted for by late funding requests from the executive.

A decision to include in the 2009 budget some projects that were planned for 2008 but never implemented, also inflated the originally proposed budget.
The new budget is based on an inflation rate of 8.2 percent and exchange rate of 125 naira to a dollar, whereas inflation is currently running at around 15 percent and the exchange rate is around 145 naira to a dollar.

The Nigerian upper house, the Senate, in December approved a slightly different version of 3.049 trillion naira spending for 2009.

The two houses will have to reconcile their numbers before the budget is sent to Yar'Adua for his assent.

africasia.com

"A decision to include in the 2009 budget some projects that were planned for 2008 but never implemented, also inflated the originally proposed budget".

Now that i don't get. So what exactly does refinancing projects "planned" for last year mean? Wasn;t money allocated to these "projects" last year? What was achieved with the money provided then?

What about the money allocated for those projects in 2008? The Nigerian media needs to improve on it's reporting.

Kobojunkie:

What about the money allocated for those projects in 2008? The Nigerian media needs to improve on it's reporting.

@kobojunkie
Do you want EFCC/SSS to shut down all Nigerian media companies.

Nigeria we hail thee