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Nairaland Forum / Nairaland / General / Politics / FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit (9514 Views)
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Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by DrogoG(m): 3:30am On Apr 27, 2017 |
Many rounds of looting spree!! 1 Like |
Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by k9ine(m): 5:35am On Apr 27, 2017 |
This is fiscal irresponsibility of the highest order. How does the FG keep pumping funds to states that cannot account for it. If Buhari were a company MD would he keep authorising funds for directors who are failing in their business unit? Buhari's FG is just dashing our national patrimony to it's political sons called governors. This is a well organized stealing. 3 Likes 1 Share |
Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by wink2015(m): 5:46am On Apr 27, 2017 |
The bail out fund are just palliative measure just to keep things cool for the moment. But it will not help the receiving state to move ahead as most of this money end up in the personal account of some politician including the governor of the receiving state. I think Nigeria should quicken up the restructuring process which I want the northern region to agree to. Agriculture should be intensively funded. Many states have neglected Agriculture and this is a professional that is bound to employ hundreds of graduate and school leavers. The agro-allied industry should also be established to serve as back up industry to the farms to help in the processing of the Agro-allied product into finished goods. I want to say that former President Goodluck Ebele Jonathan neglected agriculture at the federal level and he never encouraged states to develop their agriculture and it is the same pattern President Buhari is following where he made himself Minister of Petroleum. If Agriculture is heavily funded across the 6 geopolitical zones in the country it will help Nigeria to get on a fast track into its desire goal of industrialization The northern governors that look toward oil money for their upkeep of their state will now be looking towards agriculture.
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Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by mapet: 8:31am On Apr 27, 2017 |
Blue3k: There is a legal angle you "conveniently" overlooked. The law actually prevents the FG from "dictating" how state funds are disbursed once it hits the state accounts. The FG's power stops at the point where the monies still resides at Central Bank. This is the lacuna most states explored. The FG had their banks against a wall, in the face of backlog of salaries unpaid, that brought hardship on people. So they had no choice but to release tranches of the bailout. It is the people that will suffer if the go too hard, hence the option of releasing the bailout and hope to catch those governors and their cronies through relevant institutions and process. But we should ask ourselves. How many of the governors that accessed the bailout had published details of its use? How many had welcomed the idea to be audited? If they do not have skeletons in their cupboard, why not publish the details like Aregbesola did? |
Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by mapet: 8:35am On Apr 27, 2017 |
Blue3k: Legally, the money belonged to both the Federal and state govt ab-initio, as such it was going to be shared anyways. To forestall occurrences like this in the future, we need frameworks (legal and procedural) that will address how bailouts should be utillised and deterrence processes for misuse 1 Like |
Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by mapet: 8:38am On Apr 27, 2017 |
nkemjacob2:Garrithe1st: :do u no how ur governor spend his? I can tell you how my governor spent his [b]Osun: How Aregbesola spent N34.5 billion bailout funds - Labour, Banks |
Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by nkemjacob2(m): 9:20am On Apr 27, 2017 |
mapet:oga not in dis country |
Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by nkemjacob2(m): 9:20am On Apr 27, 2017 |
mapet:oga not in dis country |
Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by mapet: 9:34am On Apr 27, 2017 |
nkemjacob2: It is in the public domain. The state government release it to the public. Even the opposition has not been able to fault the details That is a challenge to other governors 1 Like |
Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by 5oyad: 10:28am On Apr 27, 2017 |
Just imagine if that 1.75tr was pumped into agriculture and agroprocessing |
Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by Blue3k(m): 11:22am On Apr 27, 2017 |
mapet: Excuses man save them for children. These's were bailouts and had certain conditions beforehand releasing cash. You do the same thing for 2 yrs straight people don't operate with conditions and still shill for them. It's like saying Buhari us handing out block grants to state governments for road construction. Buhari releases first round to states and they spend on Agriculture instead. The money had conditions and purposes as mentioned by article. The federal government allowed itself to be taken for a ride. mapet: The first 2 were debt package loans by federal government if I'm reading correctly. The last was Paris club. The rest came from normal allocations that were released early. They haven't enforced rules of they're agreement full stop. It's obvious they are currupt with cash that why I don't care for these demi god governors and their lackies. Ps: It's was 2015-2017 Buhari as head of party didn't think to strengthen legislation? If they need PDP votes just reach across isle and negotiate. |
Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by mapet: 12:23pm On Apr 27, 2017 |
Blue3k: Your arguements are deviod of fact-based detail, hence I am not surprised that it is more emotion-laden |
Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by mathias2000(m): 12:37pm On Apr 27, 2017 |
governor of bayelsa state, Dickson refuge to pay the civil servants in the state, local government councils 10months, state workers 7months, EFCC were are u people,please come to bayelsa and arrest the governor, he used to put the billions inside indomie cartoon |
Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by justitiaomnibus(m): 12:56pm On Apr 27, 2017 |
This huge amount from an empty treasury? we should be praying for our treasury to be empty and never full. |
Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by Blue3k(m): 12:56pm On Apr 27, 2017 |
mapet: Use the quote function correctly. I'm not surprised you want to defend Buhari at all cost. Champion of irresponsible bailouts. I did answer that with the fact they money had conditions before hand being disbursed. You can't do opposite after you get money and then you hand them a second round brilliant. Weak leadership. You can accept money from federal government agree to deal and break it. That's fraudulent and trying argue different. No I was not in country when workers were crying I don't live in Nigeria. What extra law do you need to force states to honor their contractal obligation to fund. Again if you do this for 2 yrs straight and don't rally to solve issue it's just excuses at end of day. mapet: Ok |
Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by mapet: 1:09pm On Apr 27, 2017 |
Blue3k: Bros, 1. You can be civil and argue with facts or rather be take the "knock-your-head-against-a-wall" approach as you're doing and argue incoherently....... either ways your choice 2. The money had conditions that contravened a basic principle in law, that the FG cannot dictate how state disbursed funds paid into state's account. I see you struggle to rationalize that. It is unnecessary to remind us that it had condition. That was in the public domain. What the Kemi Adeosun's team did not bargain for is that states will evoke the section of the law that prevents the FG from superintending over how monies in the state will be spent. So if we have such complexity in the law, shouldn't the drift of your arguement address how we can disentangle the complexity rather than belabour us unnecessarily with arguments that is more of your anger than cogent analysis? 3. You want to force states to obey terms of an agreement that was dead-on-arrival? That is what the states argued and now have the edge on. The agreement was seemingly invalidated the constitution. Someone should have pointed that out to the ministry of Finance. |
Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by Blue3k(m): 1:29pm On Apr 27, 2017 |
mapet: 1. I am being civil did I insult u. The facts I did state multiple times. You shilling for Buhari’s administration incompetent after 2 yrs is sad. 2. What you fail to get is it contradiction in the actions of the states. You want to accept money with conditions but want to invoke law that would negate thowe conditions. That's why I brought block grant example. Honestly if you accept cash with conditions that should imply you don't have right to invoke that law. We can argue this all day like lawyers but that's my arguement. Dude I did address bolded point. When I brought up conditions. I guess I should have spelled it out for u. Again they had 2 years to think about this a whole staff that works with him thinking about law and policy. 3. I don't agree conditions are unconstitutional. If they are don't bother with bailouts. These states ran themselves into ground anyway. They should go to court answer that question. Second he should of attempted to get his party to pass a law. I thought APC controls both houses at time. |
Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by mapet: 2:20pm On Apr 27, 2017 |
Blue3k: 1. Who tells you you don't have the right to invoke a superseding law? Even a non-lawyer should know that. 2. They have two years to do what exactly? What was the over-aching objective? was it not to solve a lingering problem of financial challenges in states especially backlog of salaries? Will you then place conditions of utilization over an overwealming requirements at that time? You need to understand that things needed to be balanced and actions taken should be expedient. 3. The FG did not have exclusive preserve over the funds. It was going to be shared anyways. That it came in form of bail-out was just to target it at a cause. So your argument to withold the bailout is not valid. States have gone to courts wrt FG witholding funds accruable to them in the past and have won. Lagos State took FG to court when OBJ witheld LG funds, and Supreme court's judgement was that FG had no rights over the state funds; so that arguement is also flawed |
Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by Blue3k(m): 2:51pm On Apr 27, 2017 |
mapet: 1. You wave rights if you accept cash, you can do that. Even non lawyer knows you can have other party agree to that. 2. 2 yrs to figure out problem. The gave out like 5 bailouts at multiple times they had time to think and bring solutions. Stop making excuses for incompetent practices. The overall goal was to meet shortfall aswell as improving transparency and accountability is to publish the annual budget and quarterly budget implementation reports. 3. Budget Support Facility (BSF), which is a Conditional Loan Programme to state governments. This wasn't going to be shared hence why government could with hold as they needed to example being Fayose. Your example of Lagos would count for this one. Fiscal Sustainability Plan had already agreed to conditions so again I labour they waved rights. Thirdly, it should be stressed that state governors unanimously approved the FSP. The governors agree that further financial support under the FSP should be conditional upon independently verified attainment of 22 conditions. Honestly if you see wisdom in this kind of irresponsible bailouts I guess we at an impass. |
Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by nkemjacob2(m): 10:23pm On Apr 28, 2017 |
mapet:what state is that |
Re: FG Has Provided N1.75tn Extra-statutory “bailout” Fund To States – Budgit by mapet: 9:03pm On Apr 29, 2017 |
nkemjacob2: |
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