BigIyanga:

How can Ogun pay back when it runs a negative cash flow system? It was bailed out a couple of times. It owed workers prior to bailout. It spends more than it generates. This is a recipe for insolvency

They should taax all does church, dey will pay back in 1 month

Thank God my state is not on the black list. Ebonyi salt of the nation.

I knew Imo was gonna be here
Heck, Rochas is 'apa'

Jetleeee:


Iffa hear say Osun no dey there . Check again

That one na 2015 This is 2017 and Osun is excluded

Tolexander:
We were telling them that he-goat, AriGBESEsola, has borrowed beyond limit. Hence, the reason for the drastic reduction in allocation received by the state.
But the Governor kept on dishing lies to the zombie followers that Goodluck Jonathan hated him and Osun State and Jonathan was intentionally withholding the state's fund by reducing the allocation belonging to the state.

NOT ONLY AREGBESOLA, PLUS THAT GOBLIN FORMER GOVERNOR OF EDO STATE.

Jetleeee:


From Pluto
Modified: I made a mistake, and I've corrected it

Go and sin no more

Jetleeee:


Yupp....the other states are really fooked. But they can start by trimming down their civil services. Some of them have too many ghost workers. They are actually borrowing money to pay ghost workers

EVEN IF DEY HAVE A MILLION GHOST WORKERS, D AMOUNT SPENT BY STATE GOVERNORS WITH D STATE ASSEMBLIES MEMBERS, LG CHAIRMEN N DER COUNCILORS IS ENOUGH TO DESTROY ALL THESE STATES.

Can't the states stop relying on the central government for their subsistence, rather they should focus on and upgrade on their IGR

Jetleeee:


Actually, Ogun never owed workers. There was some confusion that later had to be cleared tho as per deductions and pensions

Per the emboldened, All Nigerian states bar the states not executing projects spend more than they generate. FA is low, IGR is low. Some states are paying salaries alone so they don't fall inside the debt pit

BUT, there are some that can actually pay back by just making smart financial moves, cos they generate enough money. Ogun state is one of those states.

Ogun was bailed out due to its financial recklessness.
In 2016 fiscal year, it budgeted N200bn while it received N57bn from FG and got N72bn from IGR making a total of about N130bn in gross revenue. So it had a negative of -N70bn which is 53% of the total revenue. So for every N100 spent by Ogun, N53 out of it was borrowed and when you factor in cost of financing and time value of money, it goes up to 75-80%.
https://www.vanguardngr.com/2017/05/state-viability-index-lagos-generates-igr-31-states-combined/


https://www.google.com/amp/s/www.premiumtimesng.com/regional/ssouth-west/193872-ogun-governor-presents-n200bn-budget.html/amp

BigIyanga:

Ogun was bailed out due to its financial recklessness.
In 2016 fiscal year, it budgeted N200bn while it received N57bn from FG and got N72bn from IGR making a total of about N130bn in gross revenue. So it had a negative of -N70bn which is 53% of the total revenue. So for every N100 spent by Ogun, N53 out of it was borrowed and when you factor in cost of financing and time value of money, it goes up to 75-80%.
https://www.vanguardngr.com/2017/05/state-viability-index-lagos-generates-igr-31-states-combined/

https://www.google.com/amp/s/www.premiumtimesng.com/regional/ssouth-west/193872-ogun-governor-presents-n200bn-budget.html/amp

Hmmm...interesting. But again, they claimed not to be owing salaries

https://www.thecable.ng/not-owing-salaries-says-ogun-govt

http://dailypost.ng/2016/07/28/state-owing-salary-not-exist-amosun/

http://www.nigerianeye.com/2015/06/ogun-not-owing-workers-salary-govt.html

Anyway, thanks for tearing that pant breh

Jetleeee:
Lagos and Ogun should be able to pay back. I don't know about the rest

Ogun's annual statutory allocation has always been low anyway and that's what Amosun has been fighting for

Heck! Ogun state’s IGR, according to the stats was 127 percent higher than the allocation it received in 2016

while the IGR of Lagos state was 169 percent higher than its 2016 allocation.

While I believe Lagos and Ogun can pay back, this should serve as a wake up call forcing them to be financially healthy. Same goes for other
SW states

Surprisingly, Borno, the state worst hit by Boko Haram is not on this list

P.S: These are 2015 stats, but I believe not much has changed since then

That Shetima is actually a great governor in spite of Boko Haram.

Neyoor:
Osun is not even there, yet they will be calling my governor "Onigbese"

Abi! There is something I'm not understanding

check d list again ,dat basterd he goat calld raufu arigbesesola will surely not escape thunder fire which will come inform of doctor s prescription wen ready to strike him and his family.

Jetleeee:


Government is a continuum uno. If the person in power doesn't complete the payment, his successor would take off from where he stopped

Name one state where that Happens

lagos and ogun are lannisters ps dis list is not complete without osun state on it.

lagos and ogun are lannisters
ps dis list is not complete without osun state on it.

Neyoor:
Osun is not even there, yet they will be calling my governor "Onigbese"

Abi! There is something I'm not understanding

Osun Is not there now. Thank God.

BigIyanga:

How can Ogun pay back when it runs a negative cash flow system? It was bailed out a couple of times. It owed workers prior to bailout. It spends more than it generates. This is a recipe for insolvency

check your very well and you will realise many state are still in trouble after bail out fund........stop hating amosun for nothing

Jetleeee:




Breh! How much be your last price? My friend, Omofunaab2 wants to buy

How far this mumu? As you don come back from ban now na to chop cane daily na im be next.

Terrible

Ebonyi and Anambra tried oo

Abeg 'like' for Ebonyi and Anambra states

and 'share' for osun state

Myde4naija:
check your very well and you will realise many state are still in trouble after bail out fund........stop hating amosun for nothing

Facts dont lie!! Show me the facts not emotions!

Rochas, u see ur life U and ur family have sucked Imo state dry. Always in the news for the wrong reasons.

omenka:
My own governor simply borrows from banks and diverts same to develop his private farm!

The man is a total mishap of nature and takes refuge behind religion to ward off the barrage of criticism that trail every move he makes.

Benue has never had it so bad.

I don beg una make una come buy am for N1,750 sef, una refuse.

Smh.

U fit put am for olx. Ghana fit get interest.

Y amai a nigerian
But why

APC na the real kings of corruption

I open to c one state dat is in South West but is not dia n u what us to blive dis useless list Lagos sef should not b in d list

emmangrace:


Osun Is not there now. Thank God.

Name another state dat is paying dia workers half , no promotion, etc dis list is full of lies

Abia State has borrowed beyond limit. Mean while the state Governor is owing the civil servants to the tune of seven months. He has destroyed buildings along Port Harcourt Road Aba in the pretense that is he is constructing road. Nothing visible is being done by this careless governor in the state. Now his stupid followers are already campaigning for his second term in the office.

At what point will the president ask him to give account of the bale out funds he has received from the Federal government?

ruggedized1:
Contrary to the guidelines of the Debt Management Office on subnational borrowing, 23 states of the federation exceeded their borrowing limits in 2015, the Fiscal Responsibility Commission has said.

In a report on the states and indebtedness, the FRC said Lagos, Kaduna, Cross River, Gombe, Ekiti, Edo, Ondo and Imo states had borrowed more than 50 per cent of their annual statutory allocations by 2015.

Other states in the same boat are Zamfara, Adamawa, Oyo, Abia, Ogun, Taraba, Kebbi, Enugu, Bauchi, Nasarawa, Kano, Benue, Kwara, Katsina and Sokoto.


The FRC added that when total revenue (gross statutory allocation plus Internally Generated Revenue) was used as the yardstick for measuring the level of indebtedness of the states, a total of 20 states borrowed more than their total revenues in 2015.

The report read in part, “In the light of the DMO’s Guidelines on Debt Management Framework, particularly as it pertains to debt sustainability, the debt to income ratio of states should not exceed 50 per cent of the statutory revenue for the preceding 12 months.


“In effect, state governments have a subsisting, though not in line with FRA, 2007, loan policy, which requires states governments not to owe more than 50 per cent of their statutory revenue for the previous 12 months.

“The Federal Government, on the other hand, is expected not to accumulate debt more than 40 per cent of the national Gross Domestic Product. Bearing this in mind, 23 states exceeded the threshold of 50 per cent of their gross/net statutory allocations during the year 2015.

“However, out of the 23 states, only 20 states exceeded the threshold of 50 per cent of their total revenue – gross statutory allocation plus Internally Generated Revenue.”

The report also stated, “Lagos exceeded the threshold of 50 per cent of its gross statutory allocation by well over 300 per cent; Kaduna, Cross River, Gombe, Ekiti, Edo, Ondo, Oyo, Abia and Ogun exceeded the 50 per cent of their gross statutory allocations by well over 50 per cent but less than 100 per cent.


“Imo, Zamfara, Adamawa, Taraba, Kebbi, Enugu, Bauchi, Nasarawa, Kano, Benue, Kwara, Katsina, and Sokoto states exceeded the 50 per cent of their gross statutory allocations by less than 50 per cent.

“On the basis of total revenue rather than gross statutory allocation, 20 states exceeded the threshold of 50 per cent. Of the 23 states that exceeded the threshold of their gross/net statutory allocations, Kwara, Katsina and Sokoto states did not exceed the 50 per cent threshold of their consolidated debt to total revenue.

“From 2012 to 2015, five states consistently exceeded the threshold of 50 per cent of their gross statutory allocations. The states are Kaduna, Lagos, Ogun, Cross River and Osun.”


https://www.google.com.ng/amp/punchng.com/23-states-exceeded-borrowing-limits-frc/amp/


Lalasticlala

Then I hail Wike, even with the multiple projects over Rivers states he is not on the list, Shame on Rivers APC for their lies and propaganda

I know Oyo state must be there.

Politics in Nigeria have gone so bad in Nigeria to the extent that no one Is check mating d activities of our politicians,office holders.once they re in power,they tend to impoverish d people dey re representing,by stupendously enriching themselves.thats why politics is a do or die affair in Nigeria, they do everything possible to get to the sit of power.no single politician has d interest of people @ heart.jst very few.bunch of block heads dat lack creativity.depending on oil dat will go into extinct soon.very lazy set of people.china's population is bigger than that of Africa but yet nigeria shamelessly go there to borrow money.yet our law makers earn more than theirs,same with India, India own is worse,their law makers re even working a normal job nd when ever they re needed,they re called together nd deliberate on it nd they re paid nd they go bck to their daily jobs.yet their country is more organised nd successful even with our sitting law makers who earn large chunk of our yearly allocation.our country is indeed a joke