oduastates:
From $22 billion, Jonathan squandered all the saving made my Obasanjo.
The worst of all is that he completely destroyed the fiscal stability of the country.

oduastates:
From $22 billion, Jonathan squandered all the saving made my Obasanjo.
The worst of all is that he completely destroyed the fiscal stability of the country.

SeverusSnape:
Hehehehehehehehehehe

This is the same thing they did during Jonathan's time, Amaechi who was the then chairman of the governors' forum led other governors, and they even sued the FG because of this issue.

Later some brain washed zombies will say "Jonathan and Ngozi didn't save for rainy days", Can you all now see what we've been talking about?.

SamuelAnyawu:
Mr President Please don't give Rochas Imo State share of the ECA, he'll still use it to travel around Nigeria to attend irrelevant weddings without paying Imo workers...

Give us our share after May 29,2019.. Surely a more credible Senator Samuel Anyanwu as our governor will surely use it to pay Imo state workers....


Buhari Plssssssss

ArmedRobber:

Truth is bitter

Speaking with State House correspondents at the end of the meeting, Yari called for amendment of the sharing formula in order to increase federal revenue to state governments. According to him, it was impossible for state governments to save for raining day with the current 26% allocation to states and 52% to the Federal Government. On the allegation that the Finance Minister, Kemi Adeosun blamed state governments for their current financial crisis due to their inability to save, Yari said: “The states are only taking 26 per cent whereas the federal government is taking 52 per cent and you are asking us to save? “Anyway, I doubt if the Minister made that statement or it is coming from the media. The truth remains that the states are taking 26 per cent and the federal government 52 per cent, what are they doing with the money? “We are not sovereign so how can we save? We are dealing with our different states economy which we are trying our best to fix. Most times, we are busy shouting that what is suppose to be given to us has not been given. For the past three years, we have been asking them to show us if the excess crude has been used judiciously or not. “So, the question of saving or not does not arise,” he added. Noting that the meeting is about the economy, he said that the governors passed state-by-state demands to the federal government. He said: “You will agree with me that states are the landlords, we own the land and the people, so therefore the economy of this country lies in the state. Everything comes from the state, the oil, agricultural produce, mining and people are in the states while the federal government is in Abuja. “So therefore if any state has any issues and is known to Mr President, I doubt very much if he will be able to sleep with his two eyes closed. “We are closer to the people and have many challenges in the states. Today we have received support from the Federal Government in terms of bailout, restructured our debts, given us 15% of the Excess Crude Account for development. “All these are temporal measures. Each state has a programme right from short to mid and long term which we presented to Mr. President and he graciously accepted and he plans to put a committee in place that would look at the matter starting with short term. “For the short term we are looking at a situation whereby our refunds that are hanging since 2005 right from Obasanjo’s exit of the Paris club, some of the monies that were not paid so that the states that are having difficulties can get money from there. “Loan restructuring, bailout and ECA, we are asking for 18 months moratorium before we can start paying, so that we would able to strategize. “To develop IGR is not overnight, it is a long term programme that one has to plan for. And also our workforce have increased and there is nothing we can do about it because people are getting their daily bread from there and we cannot say we are going to cut salaries and wages. “We have to find a solution otherwise we would keep going back and forth because you will not achieve anything as oil been sold for $100 per barrel is now selling for $28 and $31. “So therefore we have devised a plan for short term, medium term and long term. These are part of short term. “As part of the medium term programme, we are looking at the revenue mobilization formula in ensuring that resources which were due for the past 10 years to states will be made available to them after the National Assembly’s approval. “While the agriculture and mining will be a long term programme. “The committee that will be set up will have the Vice President, Minister of Power, Works and Housing, Babatunde Fashola will be in that committee because he headed similar committee on revenue formula at the Nigeria Governors Forum in 2012/2013. “At the same time, some states have committed their resources to some federal government projects like roads and airports, there is a committee that was set up to look into that, we are urging the committee to hasten and complete up their work and present their report to Mr. President so that states can get relief,” he said. Stressing that the Nigeria Labour Congress’ (NLC) demand for increased minimum wage is justifiable, he urged the workers to exercise patience because of the present economic problem. He said: “Well, they are right because we agree that what they are being paid is too small. But they must understand the situation the country is because where we are deriving our resources from is now lower by 60 percent. “So how do we do the magic? But we are going to do our best,” he stated.

iflywithbuhari:

www.punchng.com/buhari-govs-meet-economic-crisis-others/

iflywithbuhari:

Focus on the issue at hand,or get out of this thread

Omeny:


Is it not better to be absent from this clueless fellow than sue the govt just like Amaechi,Oshiomole,Fashola etc did to GEJ on this same issue?

oduastates:


The matter at hand is that it is a rainy day fund. It is raining right now.
By the way, I am from the Bola Tinubu school of thought who opposed this account from the start.
Only fools save money underneath the mattress while their homes burn.
Obasanjo should have invested the money into Nigeria.
Uninterrupted Power, roads, trains, modern agriculture and aggressive trade policy would have been enough to move us away from a petrol state.
Lagos, ogun and oyo invested a lot and that is why they are providing the bulk of federal income today

tete7000:
,

So personally you don't make any saving? You claimed Obasanjo didn't invest the money, it doesn't occur to you that government run budget and it is after all budgetary spendings have been done that excess is saved? What is budget about if not for developing infrastructure? You probably are one of those who eat with their ten fingers. If we make you a governor, you will end up like Aregbesola who ran the state coffer dry spending on frivolous projects forgetting there are going to be days when income will be in shortfall.

oduastates:
From $22 billion, Jonathan squandered all the saving made my Obasanjo.
The worst of all is that he completely destroyed the fiscal stability of the country.

anigold:
Bros you dont chop?.
Abeg go and eat..

Stop posting this crap...

oduastates:


The matter at hand is that it is a rainy day fund. It is raining right now.
By the way, I am from the Bola Tinubu school of thought who opposed this account from the start.
Only fools save money underneath the mattress while their homes burn.
Obasanjo should have invested the money into Nigeria.
Uninterrupted Power, roads, trains, modern agriculture and aggressive trade policy would have been enough to move us away from a petrol state.
Lagos, ogun and oyo invested a lot and that is why they are providing the bulk of federal income today

oduastates:


What are you saving for?
To pay salaries to indolent civil servants in the future.
Meanwhile, the whole country suffers from the lack of the most basic stuffs known to humanity.
You do not save if you are Nigeria,
You invest.
Peter Obi said that he saved when he governor.
inflation and devaluation destroyed that saving.
Meanwhile, lagos is earning money from the lekki bridge.
Norway can afford to save
Saudi Arabia can afford to save
Qatar can
Nigeria cannot.

tete7000:



The fact that we don't have infrastructure is not a testimony that money was not budgeted for them. It is simply because the money were mismanaged. We all need to save to absorb the shocks of flunctuation in life. The governors colluded to share our excess crude account in the name of infrastructural development but today no infrastructure and no money and yet they can't run their states. They were given loans (bail out) out of the money left but imagine what life would have been without the saving. So we can't say that because of some indolent people we won't save. Saving is necessary in face of uncertainty and fluctuations in future life.

BeardedMeat:
[s]Ok. But Sam Daddy should continue in the Senate by 2019 to learn the ropes more. He will possibly be senate president if Hope Uzodinma and co permit. For now, Nda Emma ga chi anyi.[/s]

oduastates:


The matter at hand is that it is a rainy day fund. It is raining right now.
By the way, I am from the Bola Tinubu school of thought who opposed this account from the start.
Only fools save money underneath the mattress while their homes burn.
Obasanjo should have invested the money into Nigeria.
Uninterrupted Power, roads, trains, modern agriculture and aggressive trade policy would have been enough to move us away from a petrol state.
Lagos, ogun and oyo invested a lot and that is why they are providing the bulk of federal income today

SamuelAnyawu:


SamDaddy we know