SANUSI LAMIDO; WHAT IS NIGERIA DOING WITH N656.3BN?

What is Nigeria doing with N656.3bn that it will not be enough?
According to Sanusi, The N656.3bn allocation made for fuel subsidy in the 2012 budget will run out before the end of the year.

In addition to the N656.3bn allocation for this year, the Federal Government had also provided N231.8bn in the budget for the payment of the 2011 subsidy arrears, adding up to N888.1bn.

“With oil prices where they’ve been since the beginning of the year, I’m sure that we will be exposed to that amount long before the year runs out,” Sanusi told the Reuters Africa Investment Summit in Abuja on Thursday.

“If I was asked for advice, I’d simply say pay what you have in the budget and simply stop paying. If not, take the money from the Excess Crude Account or you’ve got to borrow money,” he added.

At the end of the day, we will not see any improvement in our infrastructure......our educational system continually suffering from decay and politicians raiding that account...i don't know why and how a whole CBN Governor will be saying that. The Governemnt continually spends on white elephant projects, committees on wild goose chase.....i don't know what we are doing with all that money that you cannot find a good road strching kilometres. 

President Goodluck Jonathan  with all his election promises is stuck at cross roads. He pledged to improve the country’s woeful electricity system by privatising the power sector and to reform the oil sector to deal with corruption and save Nigerian National Petroleum Corporation..... That is left to be seen

ThePetroleum Industry Bill (PIB) with the lofty ambition of changing everything from taxes to restructing of the NNPC, has remained stuck in the parliament  for years. All the proposed Reforms are seriously behind promised time to deliever and  many politicians are stumbling blocks to its progress.

Sanusi said, “(The output) assumption was too optimistic … based on the most rosy forecasts of operating environment.

“When you’ve got militancy, you’ve got production shortages, you’ve got natural operational failures, a more conservative output figure to begin with would have been better.”

“Clearly, we should have made much more progress than we’ve made. The PIB is a major disappointment … after several years (it) is about to start again its tortuous path through the National Assembly. In many of these areas, you’ve clearly got vested interests,”

Those in helm of affairs in Nigeria shuold seriously save thier big grammer. These things are paper limited. It does not go beyond that. it does not put food on my table and make my life better in anyway. It does not repair the road or improve our electricity. We want progress as Nigerians...Sanusi and his likes should not come out and play "Righteous" like they are not part of the Government......They are all the same people in  one!

Now that Sanusi is suggesting that N97/litre is not enough....and they cannot check their spending up the ladder, they shuold not think of taxing the masses. Those at the top are not ready to cut on thier lifestyles on the lap of luxury.....they should not look for schemes to devour this country. The corruption is just alarming, it is getting more complicated. 

 The High oil prices have enabled the economy to grow at more than seven per cent a year but poverty is rising......the question is, where are we heading to as a nation?  I hope Goodluck Jonathan will re-think his rumoured trip to Stephanie Okereke's wedding in France and face pressing issues.