Onosas: This is a clear indication that apc will run Nigeria dry if given the chance.

Onosas: This is a clear indication that apc will run Nigeria dry if given the chance.

Onosas: Debt Profile Of Nigerian States.
Party-By-Party Basis.
PDP States.
1] Kano (PDP) owes $61.7million
2] Katsina (PDP) owes $74.6million
3] Akwa Ibom (PDP) owes $61.6 million
4] Cross River (PDP) owes $113million
5] Kebbi (PDP) owes $47.8million
6] Kogi (PDP) owes $33.8million
7] Niger (PDP) owes $29.7million
8] Kwara (PDP) owes $45.5million
9] Kaduna (PDP) owes $215.6million
10] Plateau (PDP) owes $21.9million
11] Rivers (PDP) owes $36.6million
12] Jigawa (PDP) owes $33.6million
13] Gombe (PDP)owes $31.7million
14] Enugu (PDP) owes $50million
15] Delta (PDP) owes $18.9million
APC States.
16] Lagos (APC) owes $611.2 million
17] Nassarawa (APC) owes $36.9 million
18] Ogun (APC) owes $102million
19] Osun (APC) owes $62.7million
20] Oyo (APC) owes $76.6million
21] Edo (APC) owes $42.7 million.
22] Ekiti (APC) owes $36.1million
APGA And Labour State(s)
23] Ondo (LP) owes $51.8 million
24] Imo (APGA) owes $51.9million
25] Anambra (APGA) owes $26.7million
Source nigerianinfor hardfact https://m.facebook.com/photo.php

Yorubest:

You need some schooling

There is what we call the 5 C's of Lending and the Biggest C is Capacity

If I make $1m each day and I'm indebted to the tune of $100m, am I not in a better position to pay back than you who makes $1,000 each day and indebted to the tune of $10m?

I think your post should be matched with their IGRs and other revenues. Only then will I, and every sane person, take you serious

atlwireles:


Can we also used this logic to define the nation foreign debt profile of the Country too

bloggernaija:

WHAT STUPID LOGIC CAN YOU USE.
A GEJ FEDERAL GOVERNMENT WHICH PAYS SALARIES AND ALLOWANCES WITH 80% of WHAT SHE EARNS.OBJ BROUGHT THIS DOWN TO 60%
GEJ TOOK IT TO 80%.
NO SERIOUS BABK WILL LEND MONEY TO SOMEONE WHO SPENDS 80% of his salary on entertainment

bloggernaija:

WHAT STUPID LOGIC CAN YOU USE.
A GEJ FEDERAL GOVERNMENT WHICH PAYS SALARIES AND ALLOWANCES WITH 80% of WHAT SHE EARNS.OBJ BROUGHT THIS DOWN TO 60%
GEJ TOOK IT TO 80%.
NO SERIOUS BABK WILL LEND MONEY TO SOMEONE WHO SPENDS 80% of his salary on entertainment

[size=15pt] Oyo State Hasn’t Borrowed A Dime In 2 Years – Ajimobi
[/size]

The second half of the Governor Abiola Ajimobi administration in Oyo State was on Friday heralded with prayers, with the Governor declaring that his government, despite the huge number of projects being undertaken by it, had not borrowed a single naira from any quarters in the last two years.

The Governor spoke at an inter-faith service organized to mark the second anniversary of his administration at The Remembrance Arcade, Government House, Agodi, Ibadan.

According to the Governor, this was achieved through his administration’s financial engineering and deft management of Government’s meager resources.

The service witnessed the assemblage of traditional rulers, eminent personalities, opinion leaders, members of the State Executive Councils, the Legislators, Judicial officers, market men and women, politicians as well as Islamic and Christian religious leaders who led prayers for the State and the Government.

Governor Ajimobi, who assessed his administration in the last two years and gave himself pass mark, said that the contracts awarded by his government included construction of roads and road dualization, bridges, motor parks, neighbourhood markets and other development projects.

Interestingly, the Governor said that his government had not borrow a dime to execute those projects, all of which he said had changed the face of the State.

“I am happy to inform you all that in spite of all the projects that we have executed and are still executing, Oyo is one of the three out of the 36 States in Nigeria that has not taken any loan,’’ he said.

The Governor also said that the remaining part of his administration would be devoted to the construction of N52 billion 108-kilometre Ibadan Circular Road with development corridors, mass housing schemes, logistics centres, cargo airport and two five-star hotels, one of which is already being constructed.

Governor Ajimobi, who expressed his commitment to transforming the State to an enviable position, thanked the people of the State for their cooperation and support which he said was unprecedented in the history of the State.

“We are very happy with ourselves and with what we have done. What we are trying to do to bring back the Oyo State that we used to know, that is, to restore the lost glory of our State,’’ he said.

According to him, the purposeful leadership being given by his administration, as well as the entrenchment of peace and security and the Urban Renewal Programme had led to the influx of both local and foreign investors into the State.

Already, he said that four foreign firms had moved to the State to establish soya milk, bread baking and day old chick factories respectively, adding that these would contribute effectively to the rapid economic growth of the State.

Sermons were delivered by the Presiding Bishop of Rehoboth Cathedral, Ibadan, Bishop Taiwo Adelakun and the Chief Missioner of Ansar-Ud-Deen Society, Kano Branch, Sheikh Muyideen Bello.

Bishop Adelakun, for instance, urged the people of the State to avoid blind criticism, to be objective, principled, fair and factual, and to always pray for the Governor and his administration so as to lead the State to the Promised Land.

Sheikh Bello, on his own, congratulated the Governor for giving good name to the State, stressing that the State which used to be identified with thuggery, violence and brigandage was now at peace, with the people now sleeping with their two eyes closed
http://www.oyostate.gov.ng/oyo-hasnt-borrowed-a-dime-in-2-years-ajimobi/

gregtochi:
She said that the recurrent spending in total expenditure had reduced from 74.4 per cent in 2011 to 67.5 per cent in 2013 while capital spending increased from 25.6 per cent in 2011 to 32.5 per cent in 2013.

The minister said that N100 billion was saved for 2013 budget from the implementation of IPPIS.

On debt management, she said that N75 billion of maturing debt obligation payment was made last week and N25 billion had been set aside in a sinking fund to be used for retirement of maturing debt obligations in the future.

The minister said that government had reduced annual domestic borrowing to finance the budget deficit from N852 billion in 2011, to N744 in 2012, and now to N577 billion in 2013.

She said, “We are also making concerted efforts to defray the debts of our foreign missions.

“We have made a provision of N13 billion in the 2013 budget to help clear accumulated debts as at the cut-off date of June 2012.”

http://www.vanguardngr.com/2013/03/2013-budget-we-allocated-over-n950bn-for-national-security-purposes-o-okonjo-iweala/


So my guy get ur facts right!

PapaBrowne: From the table, I noticed another interesting fact that is not party related.

The states with the highest debt profile: Lagos($611m) Cross Rivers($113m) and Ogun($102m) happen to be the states recieving by far the highest amount of Foreign Investments and funnily in order of thier debt.

It might actually show that debt is a very good thing if utilized properly. The best countries in the world used debt to grow their economies. The biggest companies in the world use debt to grow their businesses.

Lagos recieves investments in Real Estate, Hotels, Manufacturing etc. Cross River has attracted over $2billion in the past one year alone. GE is opening a plant. Ebony Life TV Launched in Calabar. Wilmar is investing heavily in oil palm and the list goes on. Ogun state has just gotten Procter and Gamble with investments of $250 million aznd so on and so fault.


Debt is good as it hastens development when utilized properly.

bloggernaija:

WHAT STUPID LOGIC CAN YOU USE.
A GEJ FEDERAL GOVERNMENT WHICH PAYS SALARIES AND ALLOWANCES WITH 80% of WHAT SHE EARNS.OBJ BROUGHT THIS DOWN TO 60%
GEJ TOOK IT TO 80%.
NO SERIOUS BABK WILL LEND MONEY TO SOMEONE WHO SPENDS 80% of his salary on entertainment

presher: JONA MY MAN U DON SUFFER IF JONA BORROW NA CLUELESS MAN IF APC CROOKS BORROW :DEBT IS A GUD THING

bloggernaija: That is why we say that there are many educated illiterates in nigeria.
Elsewhere in the world ,people keep quite .however in Naija,people love exposing their mumuism.
I won't bother to educate you on the advantages of using credit .however I will point out one or two things out .

Lagos state budgeted roughly N600 billion for the year with a capital to recurrent ratio of 55:45.
Let just call it 50:50.
That means Lagos state has 300 billion naira for capital projects.about $ 2billion dollars to construct roads ,repair schools ,buy police patrol van etc
It takes nothing for the Lagos state government to take $600 million dollars out of the capital vote to liquidate the debt tomorrow if they want to.
However,they will be stupid to do that.

Ogun state has a monthly IGR of 4 billion naira.
The debt is about 20 billion naira.
That debt can also be liquidated immediately.
They will be stupid to do so as well considering the pressing needs of the state.

Next time ,get yourself properly educated.
THE SW IS BEING RUN BY 21 CENTURY ADMINISTRATORS.
WE ARE BEING HELD BACK BY 19th CENTURY NEANDERTHALS AT THE CENTRE AND THEIR MUMU SUPPORTERS



L

Yorubest:

You need some schooling

There is what we call the 5 C's of Lending and the Biggest C is Capacity

If I make $1m each day and I'm indebted to the tune of $100m, am I not in a better position to pay back than you who makes $1,000 each day and indebted to the tune of $10m?

I think your post should be matched with their IGRs and other revenues. Only then will I, and every sane person, take you serious

I-B.:
Since the Op has made it a party thing, I think the high debt profile of states in southwest is the handiwork of those in power in previous eight years(PDP) before the present ACN governors got into power, except for Lagos state which is expected of her. Being the most populous state(16-20million) in Nigeria, Lagos' population is more than the combination of Rivers, Anambra, Oyo and Akwa-Ibom. Lagos is the highest contributor to the nations economy, but she is not receiving 13% derivative like the oil producing states are from their contribution of mineral resources. Let's assume Lagos is receiving 13% derivative like these oil producing state, do we think Lagos would have had an high debt profile. Lagos is the first choice of any graduate in Nigeria to get job, which makes the state to have too many people to cater for, yet no reasonable special consideration is given to lagos by the federal government in the monthly allocation. Lagos has a population of around 20million, yet Akwa-Ibom that has a population or around 3million plus has a higher monthly allocation, due to special consideration for oil producing states.

Enough of the stories, let's come down to My Ibadan, Oyo state.
Oyo state (APC) owes $76.6million, from the list the op gave.
And from this report below, Oyo has not borrowed anything since Ajumobi cam into power. Meaning the $76.6million that Oyo is owing is solely the work of those before him, the PDP governors.


https://www.nairaland.com/1316546/oyo-hasnt-borrowed-money-2

And nothing is different about that of Ogun state. Gbenga Daniel from the PDP borrowed millions of dollars with nothing to show for it.
Can we comapare those two guys, as in who has brought meaninful development to ogun?
I don't know of the PDP in other states, but PDP is SouthWest is a curse.