Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / NewStats: 3,194,813 members, 7,956,076 topics. Date: Monday, 23 September 2024 at 12:26 AM |
Nairaland Forum / Nairaland / General / Politics / What Will Be The Fate Of Bankrupt States? (1102 Views)
Nigeria Bankrupt Because Of A Foolish Policy, Says Emir Sanusi / What Is Now The Fate Of Pastor Ize-iyamu? / 28 States In Nigeria ‘technically Bankrupt’– Gov Ajimobi (2) (3) (4)
What Will Be The Fate Of Bankrupt States? by Nobody: 4:06pm On Jun 22, 2015 |
Will bankrupt states like Osun be forced to merge with another state? The reality of viability of some states is here with us. What's the way out? |
Re: What Will Be The Fate Of Bankrupt States? by baralatie(m): 4:22pm On Jun 22, 2015 |
well, consolidation is an option but they are still other solutions that they can look into! it is called IGR |
Re: What Will Be The Fate Of Bankrupt States? by Nobody: 4:25pm On Jun 22, 2015 |
baralatie: It's obvious many have no IGR to generate. |
Re: What Will Be The Fate Of Bankrupt States? by baralatie(m): 6:15pm On Jun 22, 2015 |
kelvin100:but all 36 states have Igr it is that oil money that spoilt their growth! |
Re: What Will Be The Fate Of Bankrupt States? by baralatie(m): 6:15pm On Jun 22, 2015 |
kelvin100:but all 36 states have Igr it is that oil money that spoilt their growth! |
Re: What Will Be The Fate Of Bankrupt States? by Orunto: 6:33pm On Jun 22, 2015 |
It is an EMERGENCY. Appoint a Military Administrator to return the state to sanity and solvency. |
Re: What Will Be The Fate Of Bankrupt States? by Nobody: 6:47pm On Jun 22, 2015 |
kelvin100:Many states ain't viable and the requirement for state creation is simply on ethnic basis not whether such state is viable or not ...... Nigeria should not have more than 20 states ceteris paribus. |
Re: What Will Be The Fate Of Bankrupt States? by Nobody: 7:47pm On Jun 22, 2015 |
Orunto: How is it an emergency? This is a moment of truth! Now FG has no money to bailout any state. The best is to initiate the liquidation of such states and eventual merger with a more viable state. This is done in industries where financially weak companies are acquired by stronger ones to make them stronger going forward. |
Re: What Will Be The Fate Of Bankrupt States? by SUBMARINE: 7:48pm On Jun 22, 2015 |
The states should be sold. 2 Likes 1 Share |
Re: What Will Be The Fate Of Bankrupt States? by IGBOSON2: 8:24pm On Jun 22, 2015 |
If i had my way they'll (temporarily) merge Abia with Anambra! |
Re: What Will Be The Fate Of Bankrupt States? by Ezenwammadu(m): 8:29pm On Jun 22, 2015 |
The states shoul be autioned to the highest bidder.l heard from a reliable source that ifeanyi ubah is intrested in the state of osun.According to the source he wants to turn it to the world largest cocoa plantation 6 Likes |
Re: What Will Be The Fate Of Bankrupt States? by Orunto: 9:10pm On Jun 22, 2015 |
Companies are governed by Company Laws and Statutes, but states are constitutional matters. The merger of companies is limited to the provisions of a relevant company law. Merger of states for whatsoever reason, is as cumbersome as creation of new states. |
Re: What Will Be The Fate Of Bankrupt States? by Nobody: 9:14pm On Jun 22, 2015 |
Orunto: What rubbish is this you just posted? |
Re: What Will Be The Fate Of Bankrupt States? by Nobody: 9:20pm On Jun 22, 2015 |
Osun should be granted Independence and fenced round and quarantined off the rest of the Polity or better yet we can lease Osun and Everything in it to Nestlé who will put the lazy people to work planting cocoa. Maybe after 50yrs we can review the lease to Nestlé and if they still want osun we can start another round of negotiations. 2 Likes 2 Shares |
Re: What Will Be The Fate Of Bankrupt States? by Orunto: 8:49am On Jun 23, 2015 |
At the beginning of every year, every Government makes a budget for the payment of its civil service salary. Such budget is usually scrutinised and approved by the state assembly. I believe such was the case of these defaulting states. What did they do with this budget? Are they Governors that don't know what is Budgetary Control? Are they allowed by their legislators to misappropriate workers' salaries anyhow? Then someone asks FG to merge the states, how do you merge without violating the constitution? Prudence my friend, Prudence is all we require to inculcate into these defaulting Governors so that we can all be sane together. |
Re: What Will Be The Fate Of Bankrupt States? by jaybee3(m): 8:55am On Jun 23, 2015 |
Force them into cost cutting measures and bring in independent financial administrators to manage their finance for the agreed period. They can start by selling some of their assets Increase state tax if they have any Reduce headcount Bla bla bla You can't just bail them out without strict conditions that will serve as a warning to others and in turn force them to be better administrators/fund managers 2 Likes |
Re: What Will Be The Fate Of Bankrupt States? by Nobody: 8:59am On Jun 23, 2015 |
PPAngel: |
Re: What Will Be The Fate Of Bankrupt States? by Symphony007: 9:06am On Jun 23, 2015 |
Well, this is a result of the gross incompetence of the state government who in all their years in office could'nt create a revenue base rather choose to spend and spend federal pocket money....the state ultimately will have to be bailed out by the federal government and a financial administrator in conjuction with the national assembly shall control the purse of the osun state government until the crisis is over and they are made to pay back what they owe the Nigerian people. 1 Like |
Re: What Will Be The Fate Of Bankrupt States? by Nobody: 9:13am On Jun 23, 2015 |
Symphony007: If the FG is to bail a state like Osun out it should only be for Salaries owed only. The FG will thus have to do a personnel audit of all Osun State workers and an embargo place on employment, promotions and allowances. The case of the pensioners should be priotized with whatever revenue still coming to the state's coffers should be directed towards settling them and also the inclusion of all current Osun state civil servants into the Federal Pension plan. Aregberascal should not be given a dime as we know he will still divert the money to pay Tinubu and himself for all the useless abandoned contracts. The FG should also probe Osun state govt and also sponsor a bill preventing states from running a deficit budget based on bank loans. 1 Like |
Re: What Will Be The Fate Of Bankrupt States? by ibietela2(m): 9:15am On Jun 23, 2015 |
PvtParts: Wiked 1 Like |
Re: What Will Be The Fate Of Bankrupt States? by Symphony007: 9:16am On Jun 23, 2015 |
PvtParts:exactly! These are the measure expected of the federal govt. To take against an irresponsible state but I doubt this federal government will want to play hard ball with a state government in the same party. This will be one of the test of pres.buhari's "I belong to no one, I belong to everyone" quote. 1 Like |
Re: What Will Be The Fate Of Bankrupt States? by Nobody: 9:22am On Jun 23, 2015 |
Symphony007: Buhari will need to get a supplementary Budget passed before he begins doling out money. You can bet that northern senators whose states surprisingly do not owe their workers and have a far lesser debt burden than the SW states will oppose this or use it as leverage to table their own financial demands. The SS and SE will obviously oppose this move and will rather call for the Osun State govt to declare bankruptcy. So I don't see how Buhari can easily help Osun. 1 Like |
Re: What Will Be The Fate Of Bankrupt States? by eaglechild: 9:25am On Jun 23, 2015 |
Recent turn of events has really exposed those responsible for the reason why Nigeria is finding it difficult to weather the fall in oil prices. The greedy governors who felt it was better to share the excess crude account instead of working hard towards generating revenue. |
Re: What Will Be The Fate Of Bankrupt States? by Symphony007: 9:32am On Jun 23, 2015 |
PvtParts:great points, let's wait and see. 1 Like |
Re: What Will Be The Fate Of Bankrupt States? by chigoizie7(m): 9:35am On Jun 23, 2015 |
Were is rotimi chibuike Amaechi? He I hardly on the news, WHY? Because his clammour to always share the money from the excess crude account to the states on monthly basis as opposed by okonjo iwuala has backfired on his new found love APC? Yeye man. 1 Like |
Re: What Will Be The Fate Of Bankrupt States? by chigoizie7(m): 9:43am On Jun 23, 2015 |
eaglechild: One of the best reasonable comments I ve seen from nairalanders in a long time. Where da fuvck is rotimi amaechi now? 1 Like |
Re: What Will Be The Fate Of Bankrupt States? by chigoizie7(m): 9:56am On Jun 23, 2015 |
PvtParts: Include all the current osun state pensioners to FG? Oga are u high on ur urine? If FG should try that, then dis geographical terrain will never come out from the impending doom it will ever witness. Na only osun waka come? If FG should try it, den other states will tell FG that they are not stupid as well. *which state governor does not want his state to be the best based on capital projects? * oya nah, make all of us begin divert all our allocations and IGR to capital projects, beautify the state, amaze wealth for ourselves and then apply to the FG to bail us out by paying the salaries of all our state workers and also including all our state pensioners into FG pension scheme. *how do u think this so called country will survive if any of those happens? *osun state should neither be bailed out or given a dime. Let aregbese go back to the drawing board and find solutions on how to raise money to pay up. As for osun state and other states, let dis be a deterrent for all of its citizens for electing a criminal, so that next time, they will look well b dey leap. 1 Like |
Re: What Will Be The Fate Of Bankrupt States? by Nobody: 10:03am On Jun 23, 2015 |
chigoizie7: I said Pencom. FG does not pay pensioners any more. States like Osun and all SW APC states have refused to comply with the Pencom act. Getting all Osun workers into the Pencom plan will avert another goat like aregbe diverting their pensions. |
Re: What Will Be The Fate Of Bankrupt States? by Nobody: 7:47pm On Jun 23, 2015 |
I hope Buhari starts his probe from Osun State. The governor, deputy and all the commissioners should be probe. I beg at least a billion dollar would be recovered. |
(1) (Reply)
Urgent Call On Nass And Buhari To Ban Full Length Hijab / Why Are Nigerians More Concerned About Radio Biafra Instead Of Boko Haram. / PDP Senatorial Candidate Decries Stealing Of Tribunal Evidences By APC Lawyers
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 67 |