Discover and read the best of Twitter Threads about #askquestions

Most recents (11)

As signed by Pres. @MBuhari, the Nigerian govt plans to spend N8.92 TRILLION in 2019, of which N2.14tn goes into DEBT servicing.

Where will this money come from?
Where's it going to?
What are the priority sectors & projects?

Here's everything you MUST know about #2019Budget.
#2019Budget: Where Will The Money Come From?

Oil Revenue: N3.69tn
Non-Oil Revenue: N3.31tn

IMPORTANT NOTE:

The projection has marginally stepped up from N6.97tn (as formally proposed) to N7trn. How feasible is this?

FG's total revenue as at Q3 of 2018 was N2.8tn.
#2019Budget: Where Will The Money Go To?

More than N500 billion is already shared among below institutions and commissions as "statutory transfers."

From @nassnigeria to the Judiciary down to @inecnigeria etc, these bodies spend billions that no one reviews.

#AskQuestions
Read 14 tweets
Amidst crude price issues, money paid by @Shell to FG has been increasing since 2016.

2015: $4.9bn
2016: $3.6bn
2017: $4.3bn
2018: $6.3bn

$19.3bn was received by the government btw 2015 and 2018.

Has @MBuhari’s administration used oil money wisely?

#AskQuestions #FixOurOil
The highest payments received was courtesy of production entitlements which accounted for 59% of total $6.3bn payment received from Shell in 2018.

Production entitlements: 59%
Tax: 20.1%
Royalties: 15.3%
Fees: 5.6%

#AskQuestions #FixOurOil
With $3.7bn, NNPC received the highest component of these payments courtesy of production entitlement. Is NNPC accountable enough to the government and citizens?

NNPC: $3.7bn
FIRS: $1.28bn
DPR: $1.25bn
NDDC: $0.08bn

#AskQuestions #FixOurOil
Read 4 tweets
NextLevelGist -> Rail Up Nigeria -> A Thread

■ The #NextLevel plan is to develop the Lagos - Ibadan Rail Line from Iju to Ebute Metta and then to Apapa...Inside the Apapa Port Complex a 5km of Standard Gauge Rail will be constructed.
■ Train Stations along the the entire journey from Apapa Port to Ibadan will be completed.
■ There’s going to be an Inland Container Terminal around Moniya in Ibadan (where Lagos - Ibadan Rail Station will be) in effect cargo from Apapa will be carried by rail to Ibadan and processed there.
Read 12 tweets
There are many highly overrated phenomenons in Lagos’ elephant projects. I’m sure many will slit their wrists when the light rail project launches & worship the oppressors. The question MUST always be “At What Cost?!” Have you evaluated & verified what U’re told against reality?
The reality here as revealed is that CRCC Ltd got a contract from LASG to build the Blue and Red Lines at a total cost of RMB1.256b ($181m)*

Note that the costs in public domain ranges from $1.25b to $1.4Billion! 🤔 #NeverAgain #UnshackleLagos #AskQuestions #Lagos4All
How long are you willing to be enslaved for?! 🤔 #Lagos4All
Read 6 tweets
Why you need to be concerned as a citizen.

Out of N100 billion that was appropriated for over 2000 #constituencyprojects in 2018 in various communities.
We have observed that about 51% of these projects are with no clear description, hence making monitoring very difficult.
After a series of budgetary analyses, and careful review of documents, @ptcij, through its @UdemeNG project determined that the way these sponsored projects are designed from the budget stage, through implementation, is mired in controversy with many unclear descriptions.
In the 2018 #Constituencyprojects for Anambra State, 101 projects costing N3 Billion has only 52 projects with unambiguous descriptions,the remaining 49 projects may remain untracked as it is. We encourage citizens to #FollowUp on bit.ly/2KIJ4yp & #Askquestions
Read 9 tweets
Here is an update to fact check our dear VP and Prof on his speech a year ago while flagging off FG’s Food Distribution Programme in Maiduguri. #FactCheck #AskQuestions dailypost.ng/2017/06/08/ful…
The question here is how the Billions were appropriated. We must note here that Silos weren’t rented for storage. The grains were stored in FG Silos. So where did the billions go without due process? Are we being told re-bagging & logistics cost consumed the Billions he took?! 🤔
Also to avoid misinformation, when the Presidency released an info through Femi Adesina on declaration of state of emergency on #WASH the data was manipulated.
Read 10 tweets
NNPC has stated that it is settling the current subsidy costs from $1.05 billion revolving fund, kept with CBN.

It stated that funds were sourced from the corporation’s share dividend in the Nigeria Liquefied Natural Gas (NLNG). #FixourOil
There has been enough explanations that the shares "owned" by NNPC in NLNG, are held on behalf of the Nigerian people.

Why is @NNPCgroup using funds that should accrue to the Federation account for subsidy? #AskQuestions #FixourOil
NNPC in its monthly reports also deducts funds for under-recovery (subsidy) before remittance to the Federation Accounts.

There are huge questions to be answered.

#FixourOil
Read 6 tweets
FACTCHECK THREAD: We are getting queries on the statement by the Vice President that public debt stock rose by $10bn. Due to our recent work on expanding public debt, we will like to clarify.
The current rise of $10bn in public debt stock does NOT tell the full story. It can be MISLEADING. We have seen arguments explaining that the entire Federation borrowed only N3tn in three years since the debt stock rose by $10bn.

#AskQuestions
It is important to deconstruct the FG debt into EXTERNAL and DOMESTIC debt to get a full understanding for purposes of accountability. Please note that FG Debt Stock = External Debt + Domestic Debt. We will add links for private verification.

#AskQuestions
Read 24 tweets
THREAD: Friends, ahead of @EiENigeria and partners debate with Osun Guber candidates, let's have a quick review of Osun State Finances.

You will notice that Osun State receipts from FAAC has dwindled. From a Net FAAC Allocation of N46bn in 2013 to N10.4bn in 2017. #OsunDecides
Oil prices started falling in 2014, a big challenge for Osun State has been its accumulation of debt not linked to growth in internal revenues. Total Debt Stock moved from N51bn in 2013 to N167bn as at 2017. #OsunDecides
The big challenge for Osun State is the direct DEDUCTIONS by CBN before it earns FAAC allocation.

According to BudgIT Research, Osun gross allocation between 2015 and 2017 is meant to N109bn. However, N73bn was deducted leaving the state to receive on N36.5bn. #OsunDecides
Read 10 tweets
Extracts from the 2018 State of States Reports!

THREAD!!!

This is how your state generated its IGR in 2017! Its Obvious Lagos State is the Elephant in the room.

#StateOfStates2018
#AskQuestions
This is what your state is owing when it comes to DOMESTIC DEBT. Well, Its obvious Lagos state is also taking the LEAD.

#StateOfStates2018
#AskQuestions
This is the details of what your state makes from your VALUE ADDED TAX. Nassarawa State has the lowest.

#StateOfStates2018
#AskQuestions
Read 8 tweets
On 17/10/16, the National Code of Corporate Governance Codes for Private and Not-for-Profit Orgs was issued by the FRC. 11 days later, it was suspended. In Jan 2018, a 15 man technical committee was inaugurated with a mandate to review and re-issue the code. #FRCGovernanceCode
The committee headed by the former DG of PenCom Muhammad Ahmad and comprising of many sectoral regulators (like CBN, NIS, SEC, PENCOM, CAC etc) conducted extensive reviews and consultations with a wide group of stakeholders in line with its mandate. #FRCGovernanceCode
Today, the FRC has finally released for public review the exposure draft of the Nigerian Code of Corporate Governance 2018. This will be followed up by series of public hearings in different geopolitical zones to further enlighten people #FRCGovernanceCode
drive.google.com/file/d/1-g0OFj…
Read 13 tweets

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