WHAT OF ONDO THE POOREST STATE IN NIGERIA.

THEM TOO DEY HOLD MONEY?

alaoeri:
Abeg how much is Osun debt?

Osun own go reach $1b

Jona and gang.

The past govt sha

Lets see the states that are owing and their corresponding debts.

All the former governors of the affected states should be called to answer some questions as regards the debts they left behind.

Including oga Jona

hahn:
$3.3bn only


That's how it's written on checks

no be checks it's cheques

''Several states obtained loans from the
domestic bond market and banks when
oil prices were high to fund
infrastructure projects'', so with $3.3b projects we stil don't have good roads, good schools and constant power supply ... And all of dem dey shout GEJ !
I beg help me find cold kunnu make I drink jare ... Radarada, oshi ati iranu

barcanista, some kain news just dey hit FP ..abeg, when you get time, just break am down so that everybody will be on the same page ..

..shebi, na Origin? ..e boku for fridge

@ topic, Lagos state alone owes $1.16 bn out of the whole lot.

evlyn:




no be checks it's cheques

Thanks. Na the amount confuse me.

OMG

Na Osun State own nia big pass......

Meanwhile, Transfer files/music/video between your Smartphone, Computer and Tablet with ease (Plug and play, no cables required).

hahn:
$3.3bn only


That's how it's written on checks

Dangote is 5 times richer than that amount.

Smh. Small money..

400billionman:


Dangote is 5 times richer than that amount.

Smh. Small money..

That's why I included "only". I have double that amount in my account. Soon

Soon we'll be like GREECE the current greatest debtor

State governors greedily shared the excess crude account instead of working hard towards generating revenue.

Now oil prices are down and they go cap in hand.

Chai dis is serious
Meanwhile please patronize Hary Building Concept. As the best awaits you with us. Thanks.

how did we accumulate so much debt?

This is real frightening,I see the price of Oil going down so what next

Are those governors not rogues. Didn't we see them 2 years ago on Youtbe at one meeting looking like touts? Yet some of them have smuggled themselves back for another 4 years, others into the Senate, still others wanting to be ministers of the federation.

There needs to be violence

Only Lagos state owes 2 billion dollars.

Krucifax:
[b]This spells doom and disaster for Nigeria. The new President's response to sources of more funding is
1.Recovery of stolen money and 2. Withdrawal from the excess crude account.

1.Recovery of stolen money
Recovering stolen money isn't an overnight process. Some of this stolen wealth in Nigeria and overseas first have to be located. Then comes the lengthy process of tribunal and court cases and counter court cases that are required to first apportion guilt to the offender and then subsequently attempt to recover said stolen money or assets wherever they are. This can take many years just for one case to be completed talk less of different cases!!

2. Withdrawal from the excess crude account.
This one is an even bigger joke than the above. The excess crude account is already well depleted due to oil price collapse and subsequent withdrawals during the GEJ govt. Basically if this is attempted to address salaries the account could be empty by the end of the year.

If this is really the best the President has to offer then we are really in trouble as a nation. I do not blame GEJ or Buhari. Nigeria fell victim to a global phenomena of falling oil prices. Made worse by the fact that previous leaders failed to diversify our economy enough and left Nigeria heavily reliant on oil money. Now that money has dried up we are staring bankruptcy in the face.

I predict that unless oil prices rise to their former levels(which is highly unlikely because of Shale and entry into the market of countries like Iran),Nigeria is in for a long ride hard for years to come. Bear in mind that the oil price drop happened in less than 12months. So in less than a year Nigeria was not able to sustain itself and states can't pay salaries. Now imagine how it'll be in 2 or 3 years if oil price stay the same or drops. That'll be horror film playing out in Nigeria[/b]

i tell you. we in for peppersoup this season. wonder what magic buhari will perform

Soooooooooooooo, the states chop money too?

Pa 'BUHA'!
Your jail go full o!
Get ready to kill all your cows to make room in your farm!
Muchechechechecheche!

KanwuliaJara:
Soooooooooooooo, the states chop money too?

Pa 'BUHA'!
Your jail go full o!
Get ready to kill all your cows to make room in your farm!
Muchechechechecheche!

You are very right!! Your analysis hit the nerve of our problem! It's very sad!!!

Krucifax:
[b]This spells doom and disaster for Nigeria. The new President's response to sources of more funding is
1.Recovery of stolen money and 2. Withdrawal from the excess crude account.

1.Recovery of stolen money
Recovering stolen money isn't an overnight process. Some of this stolen wealth in Nigeria and overseas first have to be located. Then comes the lengthy process of tribunal and court cases and counter court cases that are required to first apportion guilt to the offender and then subsequently attempt to recover said stolen money or assets wherever they are. This can take many years just for one case to be completed talk less of different cases!!

2. Withdrawal from the excess crude account.
This one is an even bigger joke than the above. The excess crude account is already well depleted due to oil price collapse and subsequent withdrawals during the GEJ govt. Basically if this is attempted to address salaries the account could be empty by the end of the year.

If this is really the best the President has to offer then we are really in trouble as a nation. I do not blame GEJ or Buhari. Nigeria fell victim to a global phenomena of falling oil prices. Made worse by the fact that previous leaders failed to diversify our economy enough and left Nigeria heavily reliant on oil money. Now that money has dried up we are staring bankruptcy in the face.

I predict that unless oil prices rise to their former levels(which is highly unlikely because of Shale and entry into the market of countries like Iran),Nigeria is in for a long ride hard for years to come. Bear in mind that the oil price drop happened in less than 12months. So in less than a year Nigeria was not able to sustain itself and states can't pay salaries. Now imagine how it'll be in 2 or 3 years if oil price stay the same or drops. That'll be horror film playing out in Nigeria[/b]

Democracy in the Zoo is Maturing

merbenko:
Nigeria elite are problem to the masses

And in return the docile and cowardly masses are even a bigger problem to themselves. It's a two - way thing!

Everyone's got their share in the madness.

Krucifax:
[b]This spells doom and disaster for Nigeria. The new President's response to sources of more funding is
1.Recovery of stolen money and 2. Withdrawal from the excess crude account.

1.Recovery of stolen money
Recovering stolen money isn't an overnight process. Some of this stolen wealth in Nigeria and overseas first have to be located. Then comes the lengthy process of tribunal and court cases and counter court cases that are required to first apportion guilt to the offender and then subsequently attempt to recover said stolen money or assets wherever they are. This can take many years just for one case to be completed talk less of different cases!!

2. Withdrawal from the excess crude account.
This one is an even bigger joke than the above. The excess crude account is already well depleted due to oil price collapse and subsequent withdrawals during the GEJ govt. Basically if this is attempted to address salaries the account could be empty by the end of the year.

If this is really the best the President has to offer then we are really in trouble as a nation. I do not blame GEJ or Buhari. Nigeria fell victim to a global phenomena of falling oil prices. Made worse by the fact that previous leaders failed to diversify our economy enough and left Nigeria heavily reliant on oil money. Now that money has dried up we are staring bankruptcy in the face.

I predict that unless oil prices rise to their former levels(which is highly unlikely because of Shale and entry into the market of countries like Iran),Nigeria is in for a long ride hard for years to come. Bear in mind that the oil price drop happened in less than 12months. So in less than a year Nigeria was not able to sustain itself and states can't pay salaries. Now imagine how it'll be in 2 or 3 years if oil price stay the same or drops. That'll be horror film playing out in Nigeria[/b]

You've done justice to the discuss already.

We've been living a fake, wasteful and wicked life for many decades as a nation, and it was just a matter of time before we pay for that profligacy and laziness.

No sane society solely depends on a product that's so volatile in the International market. We're definitely paying for our decades of mindless spending and backward thinking. Everyone simply depended on the ND oil while the other natural resources were being allowed to criminally fallow away in their states and backyard. It's simple law of cause and effect.

Tell me any other nation where all its government does every end of month is SHARE money to state governors! Where?

Once again, thanks for your analysis.

grayht:
President Buhari said that a committee headed by the Vice President, Professor Yemi Osinbajo, will look at the Excess Crude Account and see what can be shared immediately,” the presidency said in a statement.

cc: saTANist
cc: TANdriods

but d presidnt said he made virtually empty treasury?

.