 Alright, thanks for staying with us now. According to reports, the Senate approved the President's Supplementary Budget saying that the National Assembly took into cognizance the suffering of Nigerians in giving accelerated consideration to the 2.17 trillion Supplementary Appropriation Bill. In the case of the FCT, the Minister noted that an amount of 100 billion was approved to support the federal capital territory for urgent and immediate capital projects. Now investing this 100 billionaire in Nigeria's economy could yield significant benefits including improved infrastructure, enhanced cultural productivity, a more skilled workforce, better healthcare, support for small businesses, stronger social protection, and advancement in technology and innovation. Now these investments could lead to increased economic growth, job creation, and improved living standards for Nigerians. In reference to the budget allocated to the federal capital territory, today we're asking what can 100 billionaire do for Nigeria's economy? Now please let's hear what you have to say. Remember you can join this conversation, send us an SMS or WhatsApp to 31-803-84663. So I'll bring in a message in a second. I just want to hear your thoughts. When you hear you see, I want to speak English and it's not English. What year is 100 billion? What comes to your mind? It's like 1 million. In Nigeria. I want to know what's the issue. The issue is the fact that the Supplementary Budget called just FCT and not all Lagos and stated 100 billion because I was just reading through like that's 20-22 anyways. I know you're going to say that probably you want me to subscribe. What's our problem with 100 billion? I mean it's 100 billion looking at how Nigeria is now. I mean that's how I feel. So I was going through my little research. Last year I think there's a data that shows FCT generated about 142 billion. So I think if 100 billion is going to FCT, I think it's sort of fair for space generation rates. That's what I want to understand. Is it the fact that if they did not mention Lagos or River States or other states is just FCT? So that's why they buy them. Is it bad they let me call it right now? I don't know this term is quite dicey really. FCT is states and well people live in FCT. It's the capital of Nigeria so it is expected that setting you know they will have setting privileges. I mean but I mean if again I like what Barry said that's really what's the issue. Is it the fact that because of the state of the economy of the nation you know or is it because we are privy to the line that says that 100 billion is for you know the state capital. Do we know how much other states are getting? Maybe if we know how much other states are getting you'd be so ridiculous that people would you know they'd be a riot or because in actual sense what if I mean really 100 billion is needed for infrastructure. I know that you are really your eyes but I'm just trying. I'm just trying to because I mean people live in Nigeria. People don't live in Lagos. People don't live in Kaduna. People don't live in Delta States that is bringing almost all the the entire Niger Delta that is bringing almost all the world that comes to your home. People don't live there. But okay so are you saying that those states are not getting anything? I don't know. Okay so it's a legal practice. It's a legal practitioner of your own political analyst research consultant and communications professional and public affairs commentator. He's currently the head of research at SVM intelligence and African focused race consultancy and Nigeria's foremost geopolitical intelligence firm based in Lagos where he manages a diverse research team that funds all Nigeria's 36 states as well as Ghana, the world, Cameroon and South Africa. He's had a long career in political uh political blogging and has acted as an outside consultant to four Nigerian governorship races and has managed regulatory and compliance affairs as well as strategic communication for a number of Nigerian and international multinationals. Thank you so much. They asked me a question that I do not know. Thank you for joining us. Thank you. This is not bad really. Let's just give this to people. My criminality. This is not bad really. You said you they give me you they give me hand on your literally right in all honesty. What does the FCT generate that would warrant a hundred billion Naira? Angela asked a very pertinent I mean important question and I think Laurie touched on it as well. What are the other states being given you know what are the allocations that goes to other states? So maybe that would help us rationalize because it's not making sense to me right. If you talk about one of the states that is well in terms of infrastructure that you mentioned that is well developed on everything, FCT still has one of the best infrastructure in Nigeria right. There are other states that are really really suffering. I don't understand why a hundred billion will be allocated to the FCT and the conversation that I read I've not read more but they said they want to make FCT to be a part with other cities of the world. It can mess it over to you. So it's a difficult conversation. I think the first thing I should say is that just in terms of normal sizes the FCT what the tree allocation is is big and it has been big for a while right. So let's compare what's the 2023 budget the full budget right and for the current the current minister of the FCT right in the case last portfolio has gone off reverse it and what sort of the original budget for the FCT was. So the 2023 state budget for reverse it is 525.6 billion right. The budget for the FCT the full 2023 budget for the FCT is 579.69 billion there. So already off the bat the the FCT's budget is big and reverse this is not a small state this is by you know this is by federal allocations reverse receives the most money off any state in the country by IJR I think it's second or third on any given year give or take right. So it's not a small state it's home to multinational oil operations it's a very commercial state now that you know a foreign and domestic direct investment that are housed in this state. So you know in Nigerian terms and it doesn't feel that way in Nigerian terms it's a rich state and the FCT's budget is slightly bigger than it. So in that sense a hundred billion Naira is is not very remarkable and actually the FCT is officially asking for more this is just I believe you know and I first try so one of the challenges with the reporting around this issue is that it's not clear if this is a supplement on the 579 billion Naira that was originally earmarked for the FCT or if this is a part of it and the media reporting around this is not clear the certainly the the minister and his office are also not being clear whether this is part of the bigger part or if this is in addition rights to that. So you know and I think the final thing that should say about Abuja is that by population it's what Nigeria's thought of as the biggest city biggest metropolitan area so it's got a lot of significant needs right. So I get him he's saying that it has a lot of significant needs he was trying to say in construction and based on the size of the city there's no other I can message you back hello okay so I mean it's actually unclear what the real issue is but for me I feel like maybe a lot of people are agitated off of the back of the 160 million par vehicles times 360 vehicles that they claim that they want to buy for what's it called the national assembly right. I feel like a lot of things seemed lopsided the issue of the yard came up so this is like an accumulated what's it called concern that a lot of people are just wondering that these people don't care or it's just been insensitive then you now move 10 billion to what's it called education student loans right so you say you are the extra 5 million on the yard you're moving it to the students what's it called student loan only for us to hear over the weekend that that was the delivery into our water you know that you know like literally so I think it's the shroudiness around the body oh yes we can hear you now so I can message you okay you were saying that you feel like because Abuja is a city and it would have a lot of infrastructure needs that was where we lost your audio oh okay um I'm still trying to to get my video on yes so so the point is that um Abuja is big I think that's that's the the longer shot right of the story it would have been nice to have more clarity on whether this is an additional supplement to you know the 500 plus billion narrators or any other kids or or if this is you know and part of that but what could you have significant needs let's be very quiet and oh shoot but what are those things but other states have governors Abuja doesn't have a governor so it falls to the I don't know the the federal government so to speak by default yeah I think I'm not very sure you know but again I mean it's the capital city of civil service in the country so that's that means that there are people there and those people will need infrastructure in terms of healthcare in terms of roads although like what I said I mean Abuja has one of the best roads in in the country let me bring you back to our question what can 100 billion let me let me assume like 1 million Nigerian youth that's like saying 100 000 per person what can it really do in this time and age in Nigerian now in terms of maybe business or so because even breaking down the supplementary budget I saw where there was also I think about 410 billion 400 billion cash to vulnerable household so I keep wondering how sustainable some of these palliatives and yeah so it also I also saw a part where the government um borrowed to be able to fund this how sustainable is this isn't it um why is that that's my own point of view to invest in um things which probably um will I say increases business activities you know empowering the youth and also talking about there was also the appropriation to agriculture what about manufacturing so I don't see like profile we have like real challenges challenges in manufacturing the reason why usb is going off crazy and everything's because we are importing a lot and there's so there's it's come to that time we really need to promote manufacturing but when these supplementary budgets come in now we don't still see it speaking to those aspects of the economy so like what can 100 100 000 100 billion really do to be Nigerian it can do a lot right so for me I think that it is so I always say that sometimes I see a lot of leaders major in the minor or minor in the major okay let's take a break while we come back from that break we'll try to reconnect with chemistry but it is well stay with us all right thanks for staying with us now if you just change in we're having a conversation around the supplementary budget and we are discussing those 100 billion that is allocated to fct and the chemistry is still with us please let's share what you have to remember you can join the conversations and there's an SMS or a tap to do it 1803 4663 and so let me come to you D I'm sure you have a question if I can message okay I don't even know where to start from honestly um so I like you know his um his line of thoughts about um the reporting around it and um also you know that the reporting does not give clear information as to you know what this fund is really for so I mean so I'm going to ask you can I say I mean if we want to get that kind of information where do we get it from and then um is a Nigerians being unnecessarily sentimental as in are we being you know being typical Nigerians by raising the records to say 100 billion or is it really just a trivial matter like I mean let's just move on you know so I don't know that and I don't know that discussions around uh government allocations or what government was to do with money is a trivial matter I think it's absolutely based on Nigeria's and the conversation is focused on the right things right so for me I don't think the question should be why is the fct getting a hundred billion dollars although if it's a question I don't think it should be a major one I think the question for me is and these are the real concerns I have yes and a lot of other Nigerians is is what and what do you plan to do with the money and what have you done with budgetary allocations that you've had in the past right and to to the point you mean why you're asking the question is here about um when do you find the information that's precisely the point and that's precisely the problem and a lot of questioning and a demand for accountability of the officials has to circle around that there is no website right now right it's certainly not on the federal part of the administration's website or the fct ministries website although it doesn't really have a separate website or any other government's repository or even with the mbs what these budgetary allocations especially for the fct is useful right even civic organizations like budget which releases you know um a flagship state-of-the-state reports when you basically measure how well government are using budgetary allocations and resources and what do you learn about the identities of the report launch I think three or so weeks ago in abuja they don't track data for the fct because it's very hard to find data almost always the only thing the only time the only paper trail right off and the fiscal allocations for the exit is when announcement and mean about the budget there are no budget implementation reports online about fiscal appropriation you know laws the fiscal appropriation adds for example the fiscal responsibility as well every state as well as federal government is supposed to write at the end of every financial year release a budget prepare and release a budget implementation report which will show what they plan to spend money on and what they actually spend money on and you know all sort of debt or outstanding commitments that they have very few states relatively I think the last I checked they can identify data for about 60 70 states release budget implementation reports even fewer states right consistently release budget implementation reports so there are very few states but they prepare 2023 projects they are asking for supplementary projects right in many cases right and also for me that's the big question is that from a transparency and and accountability standpoint the fct is actually one of the worst performance right it is easier for me to find information about items that's about I won't or I won't be or I won't kogi or I won't or you are a reverse then it is to find about the fct and what is the responsibility like cabinet rise well a lot of it lies obviously with the fct ministry but also a big part of it also lies with the federal government because the federal government has legislative and administrative oversight right for the fct so this is the national assembly that makes the laws for the federal capital territory it is the national assembly that approves the project for the fct as against the state where it's the governor and the state houses of assembly that engage so we have a situation where the president of the federal government you have a national assembly and by extension everyone that was in the fct civil service ministry is not only responsible for federal projects and issues around the country but that's specifically responsible for the fct so the question of fiscal transparency for the fct is also a matter of course because I mean the logical conclusion one is to draw from this is if the federal government is not physically responsible in how accountable it is to nigerians how can they be for the rest of us that's such a profound question my one question though right is should we even because fct already has um isn't fct overbluted i say this because like you rightly alluded the national assembly is there the president is there his voice is there like literally and there is really so except you can point to me what igr fct is generating you can easily say okay river state they have oil this is what the igar is okay maybe yes um properties right they can generate money from real estate lands and all of that but in the real sense of it right it is an already overbluted state because when we talk about borrowing to pay salary that is the capital where the salary you know most of those salaries are consumed because they are the ones that are like overbluted and all of that so do we still need to continue this trajectory of having a minister for the fc because we already have leaders everywhere why we still need that person that stands there and i really can't tell okay maybe market and all of that a lot of things that they are doing but you can just have somebody that oversees the state because i feel like this is just an unnecessary waste of money what helped me out because maybe i'm just over i'm conservative or something or maybe i can't i'm too dumb to see the picture no so um it's a very good question right that you asked because um for at least 15 years there's been a spirited argument between uh you know fct and policy and legislative and legal circles about whether in minister for the fct is their proper mechanisms for profiting the the federal capital right and whether we should not abolish uh you know that now which is you know not directly accountable to exit importers for example right because they do not elect right the fct minister and maybe and whether the exit is should have a mayor style um you know a mayor style governing process as many federal councils right across the world and many of the cities that are better across the world right due because in that case the mayor is elected by the residents of the federal council so he's directly responsible if people have said to the performance of the minister there's no way you can hear me and said the only way the fct minister changes is if the president makes up one day and he does not like the process he appointed to the government to change it with the mayor at the very least you have four years within which you know give or take you can you can get rid of it in terms of aggr the fct makes a fairly decent amount now it's in overall terms it is not amazing or incredible uh don't get me wrong but you have a situation where uh because of uh because of the land rights for example i think 2022 normals are just looking at angles right so 2022 tax revenue for the fct according to the nbs was 124 right billionaire right so there are many banks have um a performance of branches in the fct there are companies that set up in the fct but they're going to be very new generative right in the fct is property permits and property taxes right if for anyone who has ever tried to acquire property now which are your best opportunities it is quite impressive so that's a big um revenue generating pot right for the fct and yes the current esteem minister right self-confessed himself i think um and it was in the middle of last month that the the month this which video for public sector were passing the fct's eight billionaire a month um so there are lots of the fct is you know probably the largest construction site right in in nigeria there are multiple factor projects yeah including small projects that ideally any reasonable policy maker would want to pick up things like the light rail you know projects for example there are developments in new districts and areas that you know you know that still needs to have all of these things right that also and and they constructed so in that sense the fct has a lot of things that it needs money to do the concern for me and i think the concern that every naturalist should have about this conversation around issue but all of us is if we don't have a sense of when the money is going to or how it is being used it is very hard for us to engage when a federal government is doing a good job you know when it comes to democracy you cannot just use the eye test you cannot just use what you see or what people tell you over and over you know you know over until now when you hand out right you need data you need figures in fact one of the stable that actually needs right proper accountability in this space is the fct itself you know the federal territory administration they need to understand where they are putting money in you know what sort of returns they are getting and if they should try something else or you know what sort of investment they should be prioritizing but because nobody's really watching the money and we only have these conversations when these voluntary announcements right happen it's accountability and transparency is nearly impossible so the anger and the confusion that's surrounding this conversation right now is i'm gonna say it's misdirected but it's not focused and because it's not focused your policy makers and political people will just write out this wave of this content and when we move on to the next thing to be upset or worried about we will move there and you know the people who asked for you know 35 million and 70 plus billion error then 100 billion error will just quite be i don't want to cast aspersions but they will quite be utilize those resources in ways in which they didn't fit and don't miss in which in actual problem right needs and again just to realize the point the president those things the president katsina and the president bobi should be worried because the exit is getting more money from the federal government than any of the greek states right so in theory the exit is not efficiently using financial resources those are financial resources that are automatically denied to other parts of the country now we can have a separate conversation about whether you know state government in all of you know this data is out at judicious judiciously using the resources that they get but it's still a coherent argument to be made right about whether by this black hole that is the exit is finances the exit is unmetally short changing of the Nigerian states and other projects in other parts of the country that we need to invest in i was just going to ask a chemistry that why don't we even try to fight for every state even including the city since you say you need money why don't you just generate your idea so let's stop this cap in hand situation but states will not want to do that they'll still want to go get federal allocations you know but it because literally if we start to run our state the way yes for instance they're running their state where every state so that's why if you go to Atlanta taxes in Atlanta it can be different it absolutely depends on how you even when you order some things they'll ask you where you ship into because they need to put factor in their taxes i mean if we start to think creatively to say okay every state generate your idea maybe all these issues maybe we'll just fizzle out but the question for today was what would 100 billion do for Nigerians economy do you have an idea if we're to pump in 100 billion to the Nigerians economy to Nigeria's economy what would lead you and a lot right and the so a couple of the one idea first right the national housing deficit is depending on where you are at 17 million to 21 million homes so basically Nigeria right now let's forget about 20 minutes right about the Nigerians who are being added to our fold every day right through life in this country the Nigerians that we have now we need to provide between 17 to 21 million homes right for for them a hundred million are going long way not only way but the long way it was addressing that if you're talking about an education right so the federal allocation for education right in in Nigeria is like two or three times a hundred billion so okay a hundred billion is somewhere between you know a third to almost half of what we have determined and there are many experts that will tell you that what we advocate towards education is not enough a hundred billion are going long and specifically with respect to education I think a hundred billion around you sufficiently and significantly going long it was addressing family and secondary education because I have a very interesting view on education I think we prioritize tertiary education to the detriment of family and secondary education for a functioning economy in those basic requirements is that you need people who can read and write at school right and according to the year according to the 2019 multi-cluster indication survey the number of Nigerians that can read write and count in any language not in English it's like 24 percent which is an all-gifted number absolutely Nigerians and a hundred billion with significant value which was addressing health care the health project also is about two or three times a hundred billion so the same the same principles with education apply to us health Nigeria has a primary health care gap there are lots of things that are very very well primary health care but Nigeria has a primary health care gap it is unorthodox even if the primary touch point that those Nigerians have with the health system is not a primary health care center but a pharmacy it speaks to the lack of infrastructural support and expertise and abuse support that primary health has in this country that people feel a pharmacy is fine for me let me know which is the stress of going so they're not spitting so those are all the key things right you know that we can sort of do I think the final thing I'll say is and if you're more socially inclined a hundred about a hundred billion dollars what we budgeted shortly after COVID to invest into you know what we call social investment right so remember that you know and Nigeria I don't know what was whether it was a you know social register so the progress Nigerian was what are we going to give them to support them you know financially what we budgeted for our domestic humanitarian interventions was about a hundred billion so basically we're giving the equivalent of what we think we're going to spend on supporting the forest Nigerians to one part of the country and we don't know how that room is going to be used that's very concerned. Wow let's take comments. From our regular fan, Daniel, he said good evening my beautiful sisters of water is saying what can hundred billion do for Nigeria's economy the plain truth is that the Nigerian economy the plain truth is that the Nigerian economy has really suffered generally if they are allocating and budgeting that amount for our economy then it is something to be happy about and their beautiful sister D mentioned mentioned investing in infrastructure good roads and so many things that needs attention so to me I think we're getting somewhere in North Shell life has to be restored to the Nigerians economy to Nigeria's economy your guest made mention of the federal capital territory FCT needing funds to do some things which I agree so so so nice to have my dear beautiful sister Glory thank you really means a lot God bless you man thank you Daniel yeah okay so um this one is saying that the money is too small for Nigeria for Nigeria's economic for Nigerian economic let's see the exchange rates in Nigeria to me let the government bring enough money to make our manufacturing industry work let the government make Nigeria a productive country yeah so this has someone else has a hundred billion cannot do anything for the Nigerian economy it's just like saying what it will a hundred do for a family of two no now but listen to what Ikemesit has said you understand if you had listened you would know that I mean based on the three touch points he touched on education healthcare and Ikemesit what was the third one now but education and healthcare you would see that I mean so you would see that that money can actually go a long way so from to to to the point of why we even had this conversation in the first place is when the federal government they are drawing up these budgets always remember that you see what I believe in is can this give impact to more people so if the answer is yes that is your way that's your solution right if they say a hundred billion are now being pumped into primary and what's he called and secondary education and it would significantly transform you know a good number of Nigerians you know from that illiteracy level to a literate state then that is where the money should be channeled not the other way around absolutely but thank you so much Ikemesit I think it's always fun having you we'll bring back the conversation because we still have yaks to talk about we have a lot of things to talk about what to talk about what's the code even the student loans want to talk about agriculture as well we will need to bring you back thank you so much Ikemesit for your time you always always on us thank you so much all right thank you D thank you glory welcome back even if it's briefly we love it now before we go ensure you follow us of course all our social media handles at Wayshoe Africa you can interact with us further drop your comments and most importantly follow all our links on social media like share and invite your families and friends to watch and follow the conversation now if you missed our code for today here it is again abuja cannot pay its bills we have to get to serious work abuja as it is today is choking this was from professor chukuma child soludo what is choking the former central bank of Nigeria now the governor I will see you guys tomorrow at 8 p.m. as we bring another great conversation to your screen ciao