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How has the 2022 Fiscal Plan Fared?

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Presenting the budget proposal

The Nigerian Fiscal plan for the year 2022 set out on a budget of N17.13trn, 18 percent higher than the expenditure for the previous year. The budget which had initially highlighted a deficit of N6.39trn later projected a deficit of N7.157trn after the ministry of finance reviewed the expected revenue for the year downward to N9.97 trillion from N10.74trn. The budget had also included a recurrent non-debt spending of N6.91trn, capital expenses of N5.96trn and debt servicing of N3.61trn.

The deficit review as contained in the budget call circular released by the ministry of finance on August 5, in preparation for the year 2023, was partly informed by the government earnings (N1.63trn) for the first four months which significantly fell short of the expected revenue of N3.32trn despite N4.72trn expenses made within the same period. This generally impacted other elements of the fiscal provision.

The projected oil production for the year was reviewed downward from 1.88mbpd to 1.66mbpd while the estimated oil price was reviewed upward from $62pb to $73pb. Naira exchange rate maintained the initial estimate of N410.15 to a dollar, whereas the projection for inflation rate went south to 16.11 percent from 13 percent.

Furthermore, the Nominal consumption was reviewed to N120.17trn from N119.28trn and Nominal GDP adjusted to N198.93trn from N184.38trn earlier budgeted for and the projected GDP growth rate was pegged at 3.55 percent against 4.20 percent earlier projected at the beginning of the year.

By Q3, oil production dropped to less than 1mbpd but later improved to 1.01mbpd in October; oil price recorded a spike at $106.34pb in August but later dropped to $93.25pb in September and in October it further increased to $96.57pd. The inconsistency in oil production and the consistent fall in oil revenue have been generally attributed to increasing oil theft and public property vandalism in the Niger-Delta region.

As at December 20, the Naira exchanges to a Dollar at N450.35 official rate and over N750 at the parallel market. The annual inflation rate reached 17 years all time high at 21.47 percent in November which is a far cry from the 16.11 percent earlier projected for. According to Afrinvest’s report on Nigeria’s public debt outlook for Q322, Nigeria’s public debt profile increased by N4.5trn with domestic borrowing accounting for more than 70 percent of this new increase; the report also reveals that the debt-service-to-revenue ratio was already at 83 percent for the Q3 and may hit 91.8percent by the end of the year.

The Budget office of the federation had earlier reported that the 2022 budget seeks to continue the reflationary policies of the 2020 and 2021 budgets, hence was prepared using zero-based budgeting approach based on the policies/strategies contained in the 2022-2024 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).

A Snapshot of Nigeria’s Expenditure Performance for the 2021 Fiscal Year and Projections for 2022

Looking into that “Leadership” of Macron for Mbappe After World Cup Loss

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Many have written (video here), praising the president of France and using the word “Leadership” on the viral videos. My take…People abuse the word “Leadership” in this world. That is the reason when Nigerian governors allow citizens to be killed endlessly, and their wives visit and cry-along with bereaved mothers, journalists hail them as showing leadership. What is leadership in comforting a millionaire who lost a leather game? Common people. If I write in Harvard Business Review and explain this as leadership, my first editor will throw away the piece.

Macron showed compassion and by doing that, he demonstrated that he is a human. Give him credit for that. He’s a nice dude but he also over-did it. It was not necessary to spend those huge seconds comforting Mbappe.

But note: this is not a sign of leadership. Every nursing mother with a teenager does this daily and we have not awarded them leadership laurels. So, Macron cannot get one here.

Mbappe, I hope grows up next time. His feelings, while genuine, were embarrassment to the spirit of sports. You cannot mourn losing a game this way because this is all entertainment. Common on, there are more important issues in the world – nobody died here, and this guy is making it look like the world has fallen for him. His father must tell him to man-up next time.

Comment on Feed

Comment 1: Prof Ndubuisi Ekekwe, I believe empathy is a quality a good leader should possess (if it is genuine which I believe it is). Remembering it was Monsieur Macron that convinced Mbappe not to leave the French league for Real Madrid earlier in the summer tells me they have a kind of close relationship hence this “public display of affection” is not out of place.

On Mbappe “growing up”, Prof Ndubuisi Ekekwe I will leave you with a quote from legendary Liverpool coach Bill Shankly “Some people think football is a matter of life and death. I assure you, it’s much more serious than that.”

My Response: Empathy is a subset of leadership but it is not leadership, in isolation. You can visit any of the terrorizing fields across Nigeria, as a governor/president, and mourn with any of the families, that is empathy/compassion, but that’s not leadership. Leadership is when you stop the next attack after that first mistake.

I leave a quote for you: “Some people fail to understand that the spirit of the game is more important than the score of win and loss. That even in loss or victory, respecting the united spirit of all nations is the original mission of World Cup”

Comment 2: Prof Ndubuisi Ekekwe I don’t agree. We feel things differently. We feel a loss as fans but to Mbappe it’s his career and legacy. If a Start-up heavily funded by Tekekia liquidates, the customers will not feel it like a major investor.

His reaction is justified based on how much this means to him and asking him to grow up next time is “out of place”. Even the most experienced players with centuries of caps cry at the loss of a major trophy. Also, the president has also shown leadership qualities by coming down to offer moral support. Let’s not make it feel less important.

I think making a light of it does no good. In life, sometimes the little things go a long way. Mbappe could end up being depressed with no moral support….that’s very possible.

My Response: The worst sports-men and -women are those who think sports work only when they win. And that is the demon that brings doping, etc. The whole essence of the World Cup is to bring the world together and unite as a people on this planet. When we make it become what it is not, we have problems. You feel sad that you lost but if you want to play this game at that level, you must be conditioned to grow up because you will lose some and you will win some. Four years ago, he was all smiles at the same stage. This is a global party and losing should not be made to look like somebody died. Mbappe needs to understand the grand purpose of World Cup football: it is not the goals or the wins, but having a stage to unite the world. He must celebrate that and work towards that.

Comment 2A: Ndubuisi Ekekwe I quite agree with you on the Idea of what the World cup means to the world morally. We cannot measure that expectation for a man who:
1. Goes to training twice a day
2. Has his food conditioned
3. His sexual life conditioned
4. Is managed literally like an asset.

Even though the cup means unification for the world, to the players, its a life.

I agree with your postulation Prof Ndubuisi Ekekwe but lets be aware it means more to the folks running around for 120minutes.

My follow up: He is a great star. But he needs to learn how to celebrate and lose. That is all. Mbappe does not put more efforts than miners toiling in Chile or some working in dangerous places in Congo, etc. That we tune in to watch it does not mean he is the greatest among us. He needs to show a heart that in this world, it is the rise of all, not just me. He disrespected the winners with his attitude!

Comment 3: I think Mbappe was being human, he put in a whole lot to ensure his team brought it home. That Hat trick was everything and more. It’s okay to be disappointed.

In my opinion, he handled his emotions quite reasonably – we’ve seen teams with swollen eyes from crying after losing a less-critical match than the finals of a World cup.

My Response: But if he handled it “quite reasonably”, the world would not be discussing that video. To my knowledge, other players also felt bad but everyone has been discussing one person. If that is the case, can we say it was “quite reasonably”. Sure, he is the best player, maybe he can also feel bad the “hardest” or “worst” way to be unique. But “reasonably”, not sure; otherwise, none would be writing about it. All the players were sad; natural. But Mbappe was exponentially sad.

Comment 4: I am quite disappointed that you’d call Mbappe’s reaction an “embarrassment to the spirit of sports”. Cristiano Ronaldo, Neymar, Lionel Messi, Romelu Lukaku, John Terry…. These are all legends that have cried at different points in their career for losing a final.

I also feel that comment is very dismissive, and this is one of the reasons why the world as a whole continues to see an increase in mental health issues. Because of comments like this that would condemn and dismiss a person’s feelings / emotions without any iota of sensitivity.

You are allowed to have that as your opinion, but I think you could’ve have been a bit more kind with your words, and this is regardless of who might have been involved, or what the stakes were.

I do agree that Macron didn’t necessarily show Leadership, it was more of sympathy, and encouragement.

My 2 cents ??

My Response: More than 2 cents indeed…60 cents. Your views noted. Leave this quote (mine) with footballers you know: “Some people fail to understand that the spirit of the game is more important than the score of win and loss. That even in loss or victory, respecting the united spirit of all nations is the original mission of World Cup”

Comment / Response: Thanks Chiazo Anyaso for helping me, on clarity, with this comment: “Mbappe’s attitude is a demonstration of that base, insatiable human greed on world stage. Self first and nothing but self before others. Dude won the golden boot. Won this cup 4yrs ago…and with age on his side, will likely win it again in its next edition.

Perennial finalists and runner ups like Croatia who has yet to win this but once didn’t sulk like this. Football as a round leather object goes round…and round. From one embrace to another. Dude’s supposed to know better.”
Let me add: this was partly the reason I said it should leave Europe for South America because it is a world cup, not a European cup. An Igbo proverb says “ndu ka ihe eji azu ya” [life is bigger than whatever we do to sustain it]; the spirit of the World Cup is bigger than the awards and the cups. And all players must learn that, and respect the winners on how they handle losses.

Comment: Footballers are very passionate about the sport. Messi once cried when he lost the copa America cup. I don’t think Mmbappe overreacted at all.

My Response: “Messi once cried when he lost the copa America cup. ” – I wish all that Mbappe did was “cry”. The problem was he did not cry as most did. Ronaldo cried when Portugal exited; others did. But in those cries, you saw reverence for the game as emotions overcame men. Natural. There is a big difference between “crying” and Mbappe’s attitude.

Here’s Why Crypto Experts Recommend Rate That Crypto (RTC) While Investors Are Ditching Solana (SOL)

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Rate That Crypto (RTC)  and Solana (SOL) are both strong platforms in the crypto and NFT industries, with different capacities and utilities. Solana was created to improve the creation of decentralized apps, while Rate That Crypto was created as a P2E gaming platform that utilized blockchain.

Although Solana (SOL) is famous for its nickname, ‘the best eco-friendly token,’ it has met negative criticism lately due to the deplorable decline that affected it during the recent bear run. On the other hand, Rate That Crypto (RTC) has seen quite a growth regarding value and reputation. Many crypto analysts have advised investors to pay more attention to RTC as it is a more viable option for portfolio growth than SOL.

This article communicates why crypto enthusiasts and experts recommend jumping ship from Solana to Rate That Crypto.

Solana’s (SOL) decline in the integrity of some of its projects.

Solana (SOL) is a layer-1, open-source, decentralized platform that has been compared to Ethereum. SOL, Solana’s native cryptocurrency, is used to fund network transactions. It is intended to run decentralized, scalable applications.

Lately, some features that differentiated Solana from other cryptocurrencies have declined the coin. Solana’s smart contract capabilities, important to running cutting-edge applications like decentralized finance (DeFi), met a brick wall recently when one of its biggest decentralized exchange projects, Serum, got cut off due to fears that the FTX hack had compromised it. It was a core liquidity provider for the Solana DeFi ecosystem.

In the wake of the FTX crash, investors were startled by Solana’s recent performance as its stock fell sharply. SOL lost its position in the top 10 as a result. Although it performed well in 2021, it recently fell to approximately 95% of its all-time high. The magnitude of the crash poses a huge risk to the security of the network and the faith of the network’s supporters.

Rate That Crypto (RTC) has more growth in value and interest of investors.

Rate That Crypto (RTC) is new to the world of play-to-earn gaming but is already making a big name. In a space where one-game platforms dominate, Rate That Crypto brings a revolutionary idea to the blockchain network.

On top of that, Rate That Crypto is building itself up for long-term stability by structuring itself as fully driven by the community. That means users and players have a real say in how the game operates. Developers and entrepreneurs are pooling in to invest in the platform’s growth.

Rate That Crypto’s native token, RTC, has a lot of utility in the running of the game. It is a prize for rewarding players and can be held for future growth. The presale announcement of the token has attracted the attention of many potential investors waiting to buy the token at the early stage.

Rate That Crypto (RTC) is proving to be a hit as it is heavily active in using non-fungible tokens and blockchain features ranging from Web3 to DeFi. It also allows participants to own diverse cryptocurrencies without risking a dime by allocating prizes in tokens like Polygon’s MATIC and Lucky Block’s LBLOCK, both promising tokens.

As we can see, Solana, while trying to come back from its decline, Rate That Crypto is already seeing massive popularity in its better position to profit from the blockchain sector. It has resulted in continuous recommendations for investors to back Rate That Crypto. RTC is in its early stage, and purchasing the token during the presale could be a good investment.

>> Buy Rate That Crypto Now <<<

For the latest news on Rate That Crypto check out the RTC Discord Server and join the telegram group.

For more information on Rate That Crypto visit the links below:

Presale Website: www.ratethatcrypto.com

Linktree: https://linktr.ee/ratethatcrypto

 

HOW TO BUY RATE THAT CRYPTO (RTC)

NOTE:

  • USD Coin (USDC) on the Polygon network is required to buy the $RTC presale
  • Ensure that you have a small amount of Polygon (MATIC) to cover gas fees.
  • MetaMask is highly recommended (either desktop or in-app). However, TrustWallet and Coinbase Wallets are also supported

HOW TO BUY USDC (PoS) 

OPTION 1: BUY USDC DIRECTLY                                               

A) IMPORT THE USDC TOKEN

Copy the Polygon USDC token address: 0x2791Bca1f2de4661ED88A30C99A7a9449Aa84174

In your MetaMask Wallet, Press ‘Import token’ and paste the address.                

B) BUY VIA TRANSAK/ MOONPAY USING YOUR CARD

From MetaMask, press Buy and you choose either MoonPay or Transak. You will need to follow their additional steps, likely including KYC depending on your local region

OPTION 2: POLYGON BRIDGE

A) BRIDGE ETHEREUM TOKENS

Go to the Polygon Bridge and select your Ethereum based token that you wish to bridge to Polygon. Ideally USDC, but you can also bridge ETH, MATIC, USDT etc.

*If you bridge Ethereum based USDC to Polygon USDC, you can skip Step 2 and are done!

B) SWAP FOR USDC (IF NEEDED)

Select Polygon Swap on the left pane and enter the token value amount that you wish to swap for Polygon USDC. Approve and Confirm the transaction in your Wallet

HOW TO BUY RTC 

A) VISIT RATETHATCRYPTO.COM AND CONNECT YOUR WALLET

Ensure the Polygon Network is selected and then press ‘CONNECT WALLET’

B) ENABLE PERMISSION

Confirm that you allow the contract to access your USDC balance. Don’t worry, no transaction will occur yet

Enter the $USDC amount that you wish to invest. The minimum investment is $10.

C) ENTER AMOUNT

D) APPROVE TRANSACTION

Press ‘Approve Transaction’ and confirm the request in your Wallet when prompted

E) PURCHASE $RTC!

Press ‘Purchase RTC’ and confirm the transaction once more in your Wallet

Big Eyes Coin and Stellar Could Be the Perfect Buy For You Ahead of the New Year

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The crypto market has its risks and benefits in balanced proportion. This makes it hard to benefit from the market without taking certain risks. However, experienced crypto enthusiasts have devised various means to reduce potential risk and improve profitability. You must apply these risk-reduction techniques as you prepare to make your Christmas crypto purchase.

Apart from sticking to your purchase budget, keeping your emotions in check, and being careful of FOMO, researching low-risk crypto assets with great financial potential is another important step you should take before buying any crypto asset during this holiday season. Big Eyes Coin (BIG) and Stellar (XLM) are crypto assets that fit this description, and you should consider these altcoins for your portfolio ahead of 2023.

Stellar (XLM) 

Stellar is a decentralized open-source network functioning on a blockchain. The protocol leverages blockchain technology and its native token, LUMEN (XLM), to facilitate borderless transfers and automated exchange of crypto assets to fiat currency. Stellar makes it easy to send payment in a particular currency which the recipient can receive in another currency of their choice.

The platform initiates automatic conversion and partners with financial institutions to make the process possible. Stellar uses a personalized consensus mechanism, the Stellar consensus protocol. It ensures the blockchain remains secure and safe enough to facilitate asset value transfer between individuals. The blockchain protocol has the necessary features to resist hackers’ attacks.

Transactions on the platform are also super fast, as the platform boasts optimum speed and scalability without neglecting cost-effectiveness. The platform’s native token, LUMEN (XLM), acts as the intermediary token during transactions. This implies that the sent currency is first converted to Lumen (XLM) before being converted to the recipient desired currency. It plays a functional role on the platform beyond that and also serves as a good store of value.

LUMEN (XLM) is a promising crypto asset for crypto investors. The cryptocurrency has about two billion dollars in market capitalization, and it is billed to keep growing in value as Stellar prominence and adoption increase. It’s a good low-risk crypto purchase and could make much difference in your portfolio.

Big Eyes Coin (BIG)

The new meme coin has huge financial potential, and it could make many crypto investors richer in the coming year. Big Eyes (BIG) is in line to be the next meme coin to experience a huge price surge after Dogecoin (DOGE) and Shiba Inu (SHIB) last year. Big Eyes’ unique cat-theme approach has caught the attention of many crypto enthusiasts, especially cat lovers. This has increased the meme coin’s adoption and made it more prominent in the market.

The new crypto project is community focused, and it hopes to leverage community strength to achieve longevity and growth. The Big Eyes community will be filled with active participants dedicated to ensuring community development. It will feature rewards, contests, growth opportunities, and financial benefits. Big Eyes will build a blockchain ecosystem on the Ethereum network.

The ecosystem aims to provide wealth-generating or creating opportunities for users. It will contain a Swap for exchanging digital assets and a marketplace where users can trade items for the Big Eyes token (BIG). The ecosystem is tax-free for shopping, and accessing its features costs no dime. However, users may need to own some of the Big Eyes (BIG) NFTs collection to access some exclusive content and events.

The NFTs are also valuable and could even be worth more months from now.

Big Eyes’ amazing features, including charity towards ocean protection, make the new crypto project likable and increases its propensity for success. It is set to launch soon, and joining the presale now could go a long way.

 

Big Eyes (BIG):

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

For bonus tokens use code Ocean180

Crypto Prediction For 2023: Big Eyes Coin, Loopring and Neo Might Skyrocket

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Crypto purchase around the Christmas period and the weeks leading to the new year presents you with an opportunity to be richer. There’s a high possibility that some crypto assets will improve in market value and price in the coming year. Hence, purchasing during the aforementioned period puts you in a good position to benefit from the predicted value increase.

Many crypto assets could likely experience this great improvement, but Big Eyes Coin (BIG), Loopring (LRC), and Neo (NEO) are more promising, and analysts believe crypto investors could benefit a lot from purchasing them. They’re crypto assets to consider if you desire to get richer in the coming year.

Loopring: A Hybrid Crypto Exchange

Loopring is a hybrid crypto exchange that uses zK Rollup scaling solution to provide swift, secure, low-cost, and private off-chain transactions. The layer-2 blockchain network addresses the shortcomings of a centralized and decentralized exchange, combining their pros and eliminating the cons for users’ benefit.

Loopring makes order execution highly efficient and increases available liquidity on DEXs. It has a low-cost native token used to pay network fees and leveraged for reward on the platform. Loopring token is one of the crypto assets that had a great boost in 2021, but its decline has equally been massive.

However, Loopring can experience another huge buzz months from now, with a potentially high margin profit, due to its current low price. It’s one of the crypto assets that could make you richer, but ensure you do your research.

Neo: dApps And Smart Contracts

Neo is a blockchain platform optimized to stand the test of time. It is a community-government protocol with tools to build dApps and execute smart contracts effectively. The highly interoperable platform constantly upgrades to provide high efficiency.

Neo’s latest blockchain will be 3.0, which will be more functional, fast, and powerful. Neo is a two-token platform. It is one of the few ecosystems with separate governance and utility tokens, NEO and GAS. The former is the governance token that serves as a store of value to potential investors.

The crypto asset increased in market price during the last bull market, slightly exceeding $50, before a consistent huge dump a few months after the beginning of this year.

Neo hopes to recover from its under $10 current price to a significant double-figure month from now.

Big Eyes Coin: Cute Meme Coin

Big Eyes Coin’s current presale success and its anticipated great market launch have earned it many titles from crypto enthusiasts. Some have dubbed the new meme coin the “2023 Shiba Inu” in regard to the success of Shiba during the last bill rally. It is tipped as the next meme coin to blow, and market indicators point towards this being more of a reality than wishful thinking.

Big Eyes Coin could shake up the meme space with its success and inspire similar projects to come up. The community-focused crypto project aims to give crypto enthusiasts a breath of freshness by taking new approaches. This explains why Big Eyes is a cat-theme meme token with added utility in DeFi. Big Eyes Coin will become a highly rewarding and fun-filled community with a marketplace and exchanges for trading and asset swap.

The community will be filled with contests, giveaways, and bonuses for members. Big Eyes Coin will back trading, token swaps, and rewards on the platform. The Erc-20 token could also power governance on the platform in the coming years. Big Eyes Coin is gradually rounding up its presale, having raised $11+ million. The new cryptocurrency’s presale success is an indicator of a possible great market run. You should join the presale now if you haven’t.

Click on the links below and use the code Ocean292 to get bonus BIG tokens!

 

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL