All the things that has been attributed to performance in APC states are just gimmicks by this governors to borrow money that their state do not have with the Niger delta oil as collateral, to develop their personal treasury/pockets and that of their god father. while the media sing their praises to high heavens to the detriments of the masses who hear of this their grandiose acts but see nothing on ground to celebrate.

Atouke: All the things that has been attributed to performance in APC states are just gimmicks by this governors to borrow money that their state do not have with the Niger delta oil as collateral, to develop their personal treasury/pockets and that of their god father. while the media sing their praises to high heavens to the detriments of the masses who hear of this their grandiose acts but see nothing on ground to celebrate.

There is no crime in borrowing money, what matters is how the borrowed money is spent. Nigeria's highest oil producing state and the state with the highest monthly allocation, just took another loan of N80billion naira.

In Akwa Ibom State, the Commissioner for Finance, Mr. Bassey Akpan, said that the state government got a loan of N80bn from the Standard Chartered Bank of London, not for the purpose of financing new projects, but to offset the previously acquired credit facility of N50bn from the United Bank for Africa Plc...
http://www.punchng.com/news/revenue-crisis-cripples-states/

The country with the highest standard of living and with the strongest economy has a debt of not less than $1tr, which is even more than her total GDP.

$£yi:


There is no crime in borrowing money, what matters is how the borrowed money is spent. Nigeria's highest oil producing state and the state with the highest monthly allocation, just took another loan of N80billion naira.

The country with the highest standard of living and with the strongest economy has a debt of not less than $1tr, which is even more than her total GDP.

What APC gov. are doing tantamount to some one using another persons property as collateral to secure loans for him self. in your eg AKWA has oil and hence if they borrow they are using their collateral.