Former Akwa Ibom Governor, Senator Godswill Akpabio, has ascribed the lingering crisis of unpaid workers’ salaries by most State Governments to the failure on the part of the Nigeria National Petroleum Corporation, NNPC, to sensitize and educate Governors of the impending glut in international oil prices.

This lack of communication he said, was responsible for the lack of preparedness by most States that depend mainly on Federal Government’s allocations.

Akpabio stated this during an interview on AIT’s “Focus Nigeria” where he hinted that Nigeria is at the verge of experiencing a major economic crisis if the international prices of oil continue to slide and Nigeria continues to remain a mono economy.

“If there was proper sensitization and openness on the part of the NNPC, most of the states would not have been in this mess.
“If there was proper communication even the governors would have gone back to rejig their expenditures and budgets.

“We have more problems than all this politicking, we have a major economic crisis coming, if the oil price continues to slide, and we continue to remain a mono economy depending on oil, then we have a problem.

“There was a time oil prices was about $140 and it came down to about $90 when we came in as Governors, so by 2012 when the crisis started, we didn’t see it coming because there was lack of communication from the Ministry of Petroleum.

“Even the Governors were worried because we didn’t get any information on it.”

Most State Governors have been accused of financial recklessness and fiscal irresponsibility on account of their inability to meet the statutory responsibility of paying salaries of their workers.

This crisis led to the approval of $2.1 billion by President Muhammadu Buhari to serve as an intervention package to help bankrupt States.

Zamfara Governor and Chairman, Nigeria Governors’ Forum, Abdulaziz Yari, has also accused his colleagues of fiscal recklessness,warning them of an imminent disaster.

See: Bailout: Reckless Governors should expect more trouble – Yari

Akpabio also questioned the rationale for the creation of the Excess Crude Account, ECA, by Former president Olusegun Obasanjo, tagging it “illegal”.

He said till States can comfortably construct roads and pay its teachers, the idea of saving federal funds in the ECA should be eliminated.

“The excess crude account from our own perspective as Governors was illegal, when teachers are not paid and roads remain deplorable, and we talking about excess. What is excess?”
Source: http://www.post-nigeria.com/nnpc-tricked-us-into-thinking-all-was-well-akpabio/

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Honestly he didn't make sense. NNPC did not tell u what? Be waiting for oyel money na.

he doesn't sound financially literate your balance sheet is negative. and most of you couldn't forecast. don't you know that no matter how small your income you must save something.

Is he blaming madueke, I though they we're friends

who are those running NNPC..... isn't the government



so, government is the one that is deceiving themselves

why is everyone saying "I didn't know" so our immediately past govt had no clue of what was happening

And the "uncommon transformer" didn't know he had to diversify? Even without being told, you didn't know you cannot put all your eggs in one basket? Industries in Akwa-ibom where abandoned, some sold off, none revamped throughout your 8 year stay. What are you complaining?

You abandoned ibom science Park that could have aided in diversifying the economy, abandoned ibaka sea port, initially complaining that the waterfront wasn't deep enough, abandoned an airport project that should have been to international standard where aircraft could have been repaired there.

So, what are you now complaining? Uncommon blindness

I don't.mind states that don't make a lot of money giving excuses but Akwa Ibom, Rivers, Bayelsa, Delta, Ondo and Lagos have no excuse owing workers.

Imagine Fashola coming to talk crap about not knowing that finances might go south and him not getting egged.

When Lagos made hard financial policies as long as 12 years ago, every other state thought the governor was crazy and elitist.

This gorimapa I begi stop saying story.