ZION B-BC
NEWSLETTER.
A Publication of the Zion Faith Bible-Believing Church Kpeyegyi Abuja Nigeria. {Vol. 13. NO 583. 22nd December 2024} “…ONLY The Truth, Will Set You Free! (John.8:32). PRAY & FAST EVERY WEDNESDAY TO STOP BLOODSHED IN NIGERIA!
NIGERIAN 2025 BUDGET ON SANDY FOUNDATION LIKE PREVIOUS ONES!
[CHRISTMAS EDITION 2024.]
No amount of economic permutations or figures and statistics manipulations can salvage debt-ridden budgets from sinking into the abyss of zero implementation!
To get the annual Nigerian Budgets right once and for all, the country must move away from the profligacy terrain of presidential stupor and opt for a prudent one house parliamentary system that will cater for all and sundry and not for just a few political opportunist! Tinubu should be told that this l is not a time for tinkering with some archaic regional system of the First Republic or "solving" national insecurity with introduction of State Police! It is a time to grab the Bull by the Horn through a ONE HOUSE Parliamentary Constitution that will take care of dividends of democracy from the Grassroots to the top through Budgets of surplucity and abundance! Since the experiment of a nascent democracy from 1999 to date, annual budgets had been a ritual of DEFICITS!
NO ONE WALLOWS IN SIN AND EXPECTS THE GRACE OF GOD TO ABOUND!
Whatever a man sows, that he shall reap! How can a developing country as Nigeria continue to implement unrealistic economic goals without a funding base of Credible IGRs but would continuously depend on borrowings from those who became very rich and affluent through the Doctrine of Frugality? The APC administration believes in deceitful Slogans that are PAPER TIGERS! First, it was "CHANGE" which did not gain currency ...... and the jingles turned into HOPE - then, RENEWED HOPE OR HOPELESSNESS? Tinubu is on the wrong lane and direction: therefore, NOTHING GOOD CAN COME OUT OF ANNUAL BUDGETS EXCEPT ADDING AND SUBTRACTING DEBT FROM DEBT!!!!!
An educated study of the 2025 Appropriation Bill of NGN49.7 Trillion naira presented very late to the Joint National Assembly on Wednesday 18th December 2024 and expected to be passed for Presidential assent on or before the 31st December 2024 to conform with annual budget cycle of January-December - will elucidate all preceding narratives of an unserious administration of Political Jobbers! MR. TINUBU SHOULD HAVE PRESENTED THE 2025 BUDGET APPROPRIATION BETWEEN SEPTEMBER AND EARLY NOVEMBER - BUT HE WAS BUSY GLOBE-TROTTING TO ACQUIRE MORE DEBTS FOR NIGERIA!
PRESIDENT TINUBU HAS TRAVELED OVERSEAS 32 TIMES IN 18 MONTHS AND EVEN SUCCEEDED IN PURCHASING A NEW OFFICIAL AIRCRAFT FOR NGN150 BILLION NAIRA DURING THE PERIOD IN QUESTION!
When a man builds on a SANDY FOUNDATION; he is bound to lose his house in the event of a STORM! This Tinubu's economic agenda was dead on arrival through uncontrollable GAFFES! Like the 2023 impulsive "Fuel Subsidy is gone "! AND the latest during his 2024 presentation of budget appropriation when he addressed the 10th Joint National Assembly as the 11th! And instead of a sober apology, he turned the scenario into a theatre comedy: "You will all be RE-ELECTED"!
What on earth induced intermittent clappings throughout the unsavory presentation in which DEBTS dominated all permutations? Must annual budget presentation be a BAZAAR for legislatures who are notorious for BUDGET PADDING send wrong signals to international investors that Nigeria could not be acclaimed as a veritable Economy destination in Africa? The 21st Century global Economy has not been as volatile as it currently is as the drums of War continuously reverberated unabated in parts of Europe and the Middle East and inflation bites higher across the world!
It should be a time for sober reflection for NATION BUILDERS and not RABBLE ROUSERS of the annual gatherings of political opportunists!
PLEASE REMEMBER THAT THERE IS THE NGN27.5 TRILLION NAIRA 2024 DEFICIT BUDGET PADDED WITH N1.2 TRILLION NAIRA TOTALING N28.7 TRILLION NAIRA AND ITS APPENDIX SUPPLEMENTARY WHICH ARE YET TO BE FULLY IMPLEMENTED!!! BUT Mr. Senate President Godswill Akpabio has announced that the National Assembly has extended the lifespan and operation of the current 2024 Budget by 6 months noting that the 2024 budget has achieved a 50% performance rate in CAPITAL EXPENDITURE and 48% in RE-CURRENT EXPENDITURES thus far." True or False?
And Mr President said that he was very happy to inform the national assembly that his administration attained remarkable milestones in the implementation of the 2024 Budget.
He claimed that his administration achieved 14.55 trillion Naira in revenue meeting 75% of estimated target as of the third quarter; 21.60 trillion naira in expenditures, representing 85% of the household 21.60 trillion Naira in expenditure representing 85% of the national target also in the third quarter.
That the 2024 "Budget of Renewed Hope" was described as the highest in the history of Nigeria and NOW the 2025” Budget of Restoration: Securing Peace, Rebuilding Security" Version of NGN49.7 trillion naira yet to be padded version should be described as, "HIGHEST OF THE HIGHEST" DEFICIT (GBESE) BUDGET!
DISSECTION OF TINUBU'S 2025 APPROPRIATION BILL PRESENTED TO THE JOINT NATIONAL ASSEMBLY ON 18TH DECEMBER 2024!!!
* In summary, Mr. President claimed that the 2025 budget would drive inflation from 34.6% to 15%; exchange would be stable at N1, 500 instead of the existing N1, 700 naira per US dollar.
He believes that crude oil production should increase from current 1.800 to 2.06 million barrels per day (moped) to revamp the "socio-economic fabric of our society"
* Of the NGN49.7 trillion naira budget estimate, Dinuba said the country should be able to generate N34.82 trillion as Internal Revenue!
* DEFICIT: N13.39trillion naira or 3.89% of the Gross Domestic Product (GDP).
* BUDGET DEFICIT to be financed through borrowing to achieve government's developmental goals.
The President thinks the budget was an ambitious proposal but was necessary to "secure the future"!
- And with the above narrative still believes that Inflation rate would reduce from the current 34.6% to 15% in 2025 when DEBT SERVICING would gulp N15.81 trillion naira!!!
* FOREIGN RESERVES -UDD$42BILLION - to provide buffer against external SHOCKS!
* TRADE SURPLUS: NGN5.8 TRILLION NAIRA - positive impact on export growth if ALL QUOTED STATISTICS ARE GENUINE!
CAPITAL EXPENDITURE BREAKDOWN FOR THE MAJOR SECTORS.
Defence and Security: NGN4.91 trillion naira.
Infrastructure: NGN4.06 trillion naira.
Health: NGN2.48 trillion naira.
Education: NGN3.52 trillion naira.
SECURITY TOOK LION ALLOCATION OF NGN4.91TRILLION NAIRA!
The importance of defense cannot be overemphasized. The Military, the Police and the paramilitary forces must be encouraged to protect the nation's borders and defend the territorial integrity. AND President Tinubu promised to provide Nigeria Security Forces with modern equipments and technology to fight terrorism and keep the nation safe and will continue to empower them to defeat insurgency and all threats to national sovereignty whether they be on the highways or in the farmlands so that productivity including businesses in the communities would be secured.
INFRASTRUCTURAL DEVELOPMENT.
On Infrastructural Development President Tinubu said key projects on the Lagos-Calabar highway and Sokoto-Badagry highway already in progress would impact the lives of Nigerians and enhance economic output. The Renewed Hope Infrastructure Development Fund would also improve investments in energy, transport, and public works by leveraging on private capital that would help to complete key projects, drive growth and create job opportunities for Nigerians. EDUCATION which for the first time was allocated the highest budgetary amount of NGN3.52trillion naira for infrastructural development in the 2025 budget would spread the fund to cover the Universal Basic Education (UBEC) and the NINE new higher educational institutions.
AGRICULTURE was always publicized in annual budgets but hardly had any meaningful dividends ever manifested on ground. However it likely that 2025 would produce a turning point because Mr. Tinubu promised to fund the sector and farmers as inducement for higher productivity. He emphasized his administration’s desire to ensure the Food Security Agenda
through new measures that would eliminate the menace of banditry that has beleaguered the sector for too long!
Farmers should now be able to increase productivity through funding and Nigerians will not go to bed hungry any longer!
THE HEALTH SECTOR - Was allocated NGN402 billion naira for infrastructural investments and NGN282.65 billion naira for Basic Health Care Fund according to Tinubu who also promised revitalization of hospitals with good medication and medical resources, that would provide Nigerians with quality healthcare facilities nationwide. He also said that the Universal Health Coverage initiatives would strengthen primary healthcare systems across Nigeria.
TALK IS CHEAP!
Nothing good can come out of annual deficit budgets that cater for the Executive and the Legislature alone and are still PADDED!
TINUBU SHOULD STOP RIGMAROLING!
THE SOLUTION TO THE CURRENT PRESIDENTIAL BUDGET MADNESS IS TO OPT QUICKLY FOR A ONE-HOUSE PARLIAMENTARY SYSTEM OF GOVERNMENT THAT WILL BE GRASSROOT ORIENTED AND WILL SHUN SQUADERMAIA, BRIBERY AND CORRUPTION IN ALL FORMS AND RAMIFICATIONS!
Further delay could be dangerous!
[EXPECT A PRIME MINISTER IN NIGERIA NOW!]
Please look forward to more divine revelation in the next edition of Zion B-BC Newsletter as you share this with friends and remain blessed in the Lord. [For weekly access, to this newsletter, log on to: facebook.com/zionfaithbible.believingchurch or http://www.zfbbc1.blogspot.com,
Please look forward to divine revelations in The Sure Word Gospel Tracts, Our divinely inspired books on the Amazon KINDLE Store Namely: The Unbroken Chain of Grace, Nigeria’s Pot Pourri (Volumes 1-5), Godly Politicking For World Peace, and The Wedding Mascot Died
If you have not accepted the Lord Jesus Christ as your personal Lord and Saviour, don’t miss this great opportunity as you pray this prayer: Lord Jesus; I confess that I am a sinner who needs to be saved through the grace of the New Testament in your Blood, shed on the Cross at Calvary; I renounce every sin in my life and accept you as my Lord and personal Saviour. Please forgive me and write my name in the Book of Life. Amen. If you prayed this prayer, you have been admitted into the family of sons and daughters of God, who are born-again. Congratulations!
I am yours sincerely, THE WATCHMAN Dr. David B.A. Olufon, Resident Pastor and Editor. 08130669886, 08058436756. g-mail-dvdolufon@gmail.
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