₦airaland Forum

Bkl4real: Bayelsa, six other states fail DMO’s solvency test:

Bayelsa and six other states in the country have failed the domestic debt sustainability analysis undertaken by the Debt Management Office (DMO).

According to the report, which the DMO board, headed by Vice President Namadi Sambo met on Tuesday to consider, the seven states’ domestic indebtedness relative to their IGR positions ranks high beyond the recommended international threshold of between 92 per cent and 167 per cent.

Indeed, the affected states, according to the report on Pages 26 and 27, are presented in pink colour signifying the danger level of their indebtedness. Those next to this endangered category are stated in yellow while states whose positions are healthy are presented in green colour.

Bayelsa led the heavily indebted states with a score of 1,712 per cent insolvency.

The state has a domestic debt stock of N162.82 billion as at the end of December 2011, while its IGR was put at N9.510 billion.

It was followed by Cross River State, which by end of 2011 had a domestic debt stock of N90.750 billion, relative to its IGR size of N16.553 billion.

The debt management agency said the state’s indebtedness ratio is 548 per cent far above the recommended threshold.

The third in this category was Zamfara State, which scored 497 per cent, representing its total domestic debt of N12.968 billion relative to its N2.611 billion IGR.

Ebonyi State was next in line with a score of 272 per cent, representing her domestic debt stock of N40.239 billion relative to her IGR of N14.778 billion.

Oil-rich Delta State came fifth with a rating of 263 per cent as the state’s domestic debt stock then was N90.843 billion, while its IGR stood at N34.601 billion.

Adamawa State followed with a rating of 217 per cent, with a debt stock of N25.954 billion, while its IGR stood at N11.948 billion.



Kogi State was seventh on the league with a solvency score of 207 per cent score, representing its indebtedness of N34.122 billion in relation to its IGR of N16.500 billion.

The Federal Capital Territory (FCT) too was presented in the same pink colour among the seven risky states, though its debt figure was not presented on the table.

The DMO offered explanation on the solvency exercise relative to IGR: “Given the fact that sustainability or otherwise of domestic debts are by best practice to be measured against the own revenue of the borrower, an analysis of the domestic debts of the states to their IGR was also undertaken.

“For this, the Debt Relief International (DRI) solvency threshold of 92 per cent to 167 per cent is applied. The result as shown in the table below outlines the need for the sub-national governments to grow their IGRs to reduce excessive pressure on their statutory allocations in the running of their governments and free up resources for other developmental projects.”

Six other states presented in yellow, signifying warning alert as they are close to attaining the solvency bar, are Edo, Akwa Ibom, Kwara, Ondo, Plateau and Taraba.

The remaining states presented in green all scored below the recommended solvency ratio of 92 per cent.

Source:

 http://businessnews.com.ng/2013/03/18/bayelsa-six-other-states-fail-dmos-solvency-test/?utm_source=&utm_medium=twitter&utm_campaign=bayelsa-six-other-states-fail-dmos-solvency-test

why should bayelsa and delta be in that list?

Abagworo: I don't know of the Presidency part or if he's the best Governor but why all the false negative impression on the media?

guy are you a learner?'leaking taps locked'thereby angering those 'benefitting' from free loading imsg funds.as someone whose father was once ssg in the state i know what 'free loading'can do to state governments funds.

Abagworo: Lately almost the entire news and blog media including Nairaland have been bombarded with anti-Rochas propaganda which I seem not to understand. I am a neutral observer in politics and speak my true observations. I was in Imo weekend and was impressed. Imo smells of high quality of life and rapid development ranging from the quality of massive new houses under construction by the private sector to the glaring evidence of a working government. The GDP of 2012 recently published puts Imo at no5 with $14billion which puts it $6billion ahead of Abia and $8billion ahead of Anambra. New fast foods and hotels keep springing up and population keeps rising with its attendant traffic gridlock. As at 2010/2011, there was little traffic jam in Owerri.

I've been a critic of the open drainage system which characterized all the roads in Owerri but noticed that there's ongoing reconstruction of drainages in Owerri which I also found impressive. 2 new bridges have been constructed past Nworie River linking Old and New Owerri. I sincerely did not get past Owerri but I'm impressed especially with the standard of living in Owerri. The best thing Imolites can do for themselves is to support this revolution started by Okorocha and allow a true leader like him to be the next Governor.

haha expect bashing in this thread from the likes of dede.however did you find out from the ordinary person in the street how he feels about the government?on the question you asked have you thought about 'free loaders' depending on government money being sidelined?

c.fours:
all people love money. but the way some people go about their greed can be very nauseating (ex. igbos).

you meant esp.not ex. I guess....if only the yorubas in uk that i have seen can emulate your thinking but free money from credit card and nhs scams will not allow that because they will tell you scam crimes pay.

omonnakoda: Your guess !
What or who is a bad person?

in nigeria the normal mantra is 'igbos worship money'.other nigerians view that as a bad trait hence the believe igbos are bad.so since Gujurats worship money as you stated doesn't the logic follow?

omonnakoda: Dangote actually started out as a trader and his grandfather Dantata was reputed to be the richest man of his day. They sold mostly Kolanuts and groundnuts in those days by the Trainload when our trains worked. Later cotton,gold foreign exchange and textiles before the textile industries collapsed.They traded mainly with those big companies like PZ Unilever and benefitted from Indigenization laws/ Later on came sugar cement flour etc .These were endeavours that entailed long term investment and patience. There were many successful Indian traders in this country but they were squeezed out. Those guys especially Gujurats are exceptional.They worship money.

i guess Gujurats are bad people since they worship money?

c.fours:
I agree. igbos like to claim "trader" identity. but northerners are actually superior traders. yet they are not boastful.
there was a thread on this website a while ago comparing GDP/ contribution for all 36 states, and northern states income comes primarily from trade they really took a large weight for trading. SE of course mostly came from oil. SW agriculture, industry and big business of course.
just because you are running some petty shack or car part store in your little neighborhood doesn't make you a heavy weight or a superior contributor to the economy. not especially when 50% of what you're selling is faulty or fake and just a way to scam unsuspecting people.
I've even met many non-nigerians who meet me and the first thing they say is that they were conned by some nigerian "trader" selling fake products. and then I ask for the name and guess what tribe the name comes from? yeah!! they do this outside of nigeria too which gives us a bad reputation.

same way during time uk when white folks im my workplace always asked why is that nigerians leave their country to come uk just to scam(both credit card and nhs)i asked why they make such a statement and they give me instances of nigerians caught in the act.guess where the names of people they gave me come from?not too hard to guess.one even told me that their headquarters is peckham.

confusion247: Have you forgotten that these traders lost most of their goods on that fire incidence?

they should have standby lawyers for this kind of scenario.so the southeast gov should pay lawyers to help these guys?from which purse?were they the ones that told these traders to go their to trade?there are many issues these se governors have to settle in the states they govern for christsake.

c.fours:
what kind of "oneness" are you talking about?
self delusion, illusion of grandeur is a disease. seek medical treatment ASAP.
The traders might have even set the fire on the shops so that they can force FG to build new shops for them. very conniving set of people.

*yawn*

omonnakoda: It is not just governemnt the attitude of many Ibos when they have power is skewed.Look at you and how quickly you jump to ban people once you have a whiff of power. Look at Rochas and Ubas. The general attitude is to oppress and intimidate those perceived as having less whilst mouthing off we are EGALITARIAN. Ibos will NEVER return home if Nigeria is peaceful because generally other Nigerians are very accommodating to them even more than at home .Fact. How many Nnewi guys will invest in Aba?
Ibos have been buying and selling Electronics for more than 30 years at Alaba why have they Not started manufacturing in Nigeria. Simple It is too long term for them and they always have a short term horizon in their business.
The other thing is this you do not say we need to encourage other Nigerians to come to the SE to enhance the spending power of the region.Why ? because they are not welcome is the simple truth?

pls keep quiet if you are not sure of what you are saying.how many of the business men in aba are aba indigenes?how many of the businessmen in onitsha are onitsha indigenes?

omonnakoda: I was not talking to you and he whom I was talking to should get my meaning within the context of our antecedent discussion. You are an uninvited interloping busybody,a pesky bluebottle.

see old man on abusing on nairaland.father please respect your grey hair lol.

omonnakoda: I was not talking to you and he whom I was talking to should get my meaning within the context of our antecedent discussion. You are an uninvited interloping busybody,a pesky bluebottle.

see old man on nairaland.father please respect your grey hair lol.

omonnakoda: I was not talking to you and he whom I was talking to should get my meaning within the context of our antecedent discussion. You are an uninvited interloping busybody,a pesky bluebottle.

see old man on nairaland.father please your grey hair lol.

omonnakoda: That conclusion does not follow from the premise by any logic and once again they are not "TRIBAL" so I suggest you educate yourself. They were nations and it is important for nations to have identity and to protect that . That is neither Tribal nor xenophobic . Why do we have passports and borders
of course I am talking of Western Nigeria. There may be other places where "TRIBE " may be Accurate but in Western Nigeria they were nations Ijebu,Egba,etc were all Kingdoms. These Kingdoms would sit quite comfortably within a larger Nation. That is essentially what Federal Germany Today is. Formed from several smaller Germanic Kingdoms
Small Yes but then Ireland,Belgium,Portugal,Luxemboourg are small too. Oyo was of Course an empire that extended to Ghana. So these were not tribes AT ALL. Why should they identify with the Ibo man or the Efik man. Those are different nations amalgamted into a Union or confederation. This does not mean we should dissolve into each other or that refusal to do so is some kind of flaw deserving meaningless labels like XENOPHOBIA

'why do we have passport and borders of course i am talking about western nigeria' so western nigerians have passport that is different from nigerian passport?

thefree: Self Hater!! You are just like the black butler in django unchained cos you are actually Igbo.
Compromised fools like you just don't see the big picture. Clown! Feeling like you are a progressive when you really just suffer from an intense form of myopia.
Don't ask me how I know you are Igbo. We'v been tracing you due to the way you've conducted yourself on this forum.
Dare me and I'll publish your full name and address here.

hehe that black butler in django unchained was something.self hate defines him in all ramification haha.

omonnakoda: This is a fact in some place they won't even sell to another Ibo from another place. Why are you so deceptive and untruthful.

just shut all of us up and provide proof.

dayokanu: Let them continue to bite the finger thats feeding them

When the SW gets tired and chase them out they would go to Boko Territory or the SS

Most SE dont even know they are more hated in the SS than anywhere. Ask them where the cases of abandoned properties took place.

I met one Eleme boy one time and cant believe the hatred he has for the Ibos

Though he was botter at everyone Hausa for getting all govt appointment, Yorubas for aligning with Oyinbo to rob them of jobs in Oil companies (Even though he later admitted anyone who went school in his area would get those jobs too) but his hatred for Ibos was because they dominated things the average SS does,

Its only educated ppl who would complain about Yorubas and Oil jobs but all the commoners, peasants all complain about Ibos

more yawns

CyberG: He stated the obvious buy you'd prefer if he played dead and not bring in that angle at only the 4th post of the topic? Well SW comes in for obvious reasons which you wish people will not notice. The SW accommodates iboz the most in Nigeria but most iboz are soo ungrateful. In the north, iboz have to hide and stay in Sabo else they are slaughtered. At home, they are kidnapped, killed for rituals, eaten sometimes, robbed or shot dead! In the SS, they are not wanted like the current case in point but the only SW who are more sophisticated are the usual objects of your misplaced anger. Be honest and this becomes very easy to see!

yawns as cyber guy comes again with his normal rants.

Abagworo: The topic itself proves that everything is wrong with buying. Is it only Igbos that trade in the market? Some of the Yorubas/Hausas/Efiks/Ijaws could be richer but still chose to rent instead of buying up. Imagine where a town market like "Nkwor Nnewi" gets burnt and after Nnewi North LGA finished the re-construction, Okrika people will come out with 1983 documents claiming to have bought "Nkwor Nnewi" from the natives.

are there okrika people trading in nkwor nnewi.

abagworo sorry but that your last explanation of going back to the original owner of land before selling it makes no sense.to also think that you have 'naija must survive' as your siggy makes your stance laughable.

krendo: Yes constant electricity is important and definitely not easy

But that must not happen statewide before you can encourage industries

You can build industrial zones or economic clusters and make a special energy arrangement for the businesses in that clusters and then later target to provide electricity everywhere else!

you can suggest this to whoever is your governor you know.it really does not matter pouring it out on nairaland.

krendo: We need to evolve from Buying and selling to manufacturing and site the manufacturing plants in the east

we got the spirit of commerce and industry to see it through

that is the only way the next generation of Igbos will avoid man's inhumanity to man

provide constant power first.

Afam4eva: You're right. Of course we don't expect every Igbo trader to be in Igboland because the market is not big enough to cater for all of them. That's why the governors should work on increasing the market share of these states in order to attract a higher number of these people back home.

that is the reason why i do not get bothered about igbo traders all over the country as every trader cannot live in his or her place of origin but i get bothered about industrialists building their industries and companies outside the home zone.

alj harem: I am fully aware of the constitution but is an average uneducated Nigerian aware ? NO!

Nigeria itself is a very very funny country as it is frustrating. No ethnic Nation was consulted to form this country apart from the Hausa, Yoruba and Igbos.

Hausa and Yoruba said NO as it is clear that 3 captains can't rule a ship.

You see, we have indigenes in every society an just because we have a government does not mean we do not have traditional rulers and indigenes of the society. Indigenes that never knew who Igbo yoruba or hausas are expected to just allow "aliens" to come and take over their heritage (land).

This is the same problem we have in plateau, lagos, rivers, abuja and delta state.

i do not see how delta state factors in this.

krendo: Cant they use their office to complain to their colleague the Governor of Rivers to do something?

Cant they behind the scenes fund lawyers through Ohaneze to help traders who may not know their rights to defend their rights?

This is an attack on our people and these Governors can do something like helping a sensitization programme or providing legal defence to the oppressed.

Standing up for the rights of Igbos should not be about seeking the Presidency of Nigeria, if anything that should be the least need!

if the traders cannot use their money and hire lawyers to defend their rights i wonder why you want governors of their home states to intervene and fund these lawyers.the money from their home states should be used on their home states.these traders should get organized first.

krendo: so you have no interest to live by the laws of the land?

nigerians in general have no interest in living by the laws of the land.that should be obvious by now..however do you guys have an association within the maket before it was burnt?if yes can you rally your members for each of them to get their c/o of their supposed property to confront whoever is doing the reallocation?if he stil refuses to do the right thing then you can now go to court.

krendo: 42. (1) A citizen of Nigeria of a particular community, ethnic group, place of origin, sex, religion or political opinion shall not, by reason only that he is such a person:-

(a) be subjected either expressly by, or in the practical application of, any law in force in Nigeria or any executive or administrative action of the government, to disabilities or restrictions to which citizens of Nigeria of other communities, ethnic groups, places of origin, sex, religions or political opinions are not made subject; or

(b) be accorded either expressly by, or in the practical application of, any law in force in Nigeria or any such executive or administrative action, any privilege or advantage that is not accorded to citizens of Nigeria of other communities, ethnic groups, places of origin, sex, religions or political opinions.

(2) No citizen of Nigeria shall be subjected to any disability or deprivation merely by reason of the circumstances of his birth.

(3) Nothing in subsection (1) of this section shall invalidate any law by reason only that the law imposes restrictions with respect to the appointment of any person to any office under the State or as a member of the armed forces of the Federation or member of the Nigeria Police Forces or to an office in the service of a body, corporate established directly by any law in force in Nigeria.

43. Subject to the provisions of this Constitution, every citizen of Nigeria shall have the right to acquire and own immovable property anywhere in Nigeria.

44. (1) No moveable property or any interest in an immovable property shall be taken possession of compulsorily and no right over or interest in any such property shall be acquired compulsorily in any part of Nigeria except in the manner and for the purposes prescribed by a law that, among other things -

(a) requires the prompt payment of compensation therefore and

(b) gives to any person claiming such compensation a right of access for the determination of his interest in the property and the amount of compensation to a court of law or tribunal or body having jurisdiction in that part of Nigeria.

http://www.nigeria-law.org/ConstitutionOfTheFederalRepublicOfNigeria.htm

Bros nigeria is lawless society so constitution or not it does not matter.

emmysenior: Fruitless quest, who else among the rest 34 states governors, excluding Fashola & Oshimole can be compared to that man?

have you been to the state to know so?

kai who designed the shirts?

taharqa: How many of the Critical Federal Roads, most of whom hv bn abandond for decades, hv u seen that is not bn workd on as we speak??

) enugu onitsha expressway? Plied lagos to benin recently and i have doff my heart to works minister though.

ypzilanti: What the east needs is massive infrastructural investment by the state governments. The manufacturing industries and industry of the people is already on ground.

and electricity too.

bestview: Don't bother yourself with that senseless hack. His utterances are quite predictable.

@ the topic, Pete Obi's Fidelity Bank is doing Nigeria proud. Congrats.

so chino you did not see where abagworo replied igbo son with a picture?are you that stupid and blind?