₦airaland Forum

Truths9ja:
which kind thread be that one. You are very funny no be small

But you can create a thread on portable, sex talks and gossips.

Falana, pls stop embarrassing the proffession. You're a senior man, you should know better. Gani would be turning in his grave right now.

Truths9ja:
And Na fact be this . Nigerians should always value their musics and artists always

Trending video of Doja cat & 21 Savage exchanging greetings in Yoruba at the Grammy award. Create a thread on it.

Saintinoo:
Yes I saw something different, and you know what I saw? I saw that the current president based on statistics is the worst among the last four administration.

At least numbers don't lie.

No past Administration gave your Governors their highest ever allocations than the current administration. Refineries are getting the attention, a new Lithium is just been completed. So many positives in view. Go back to sleep.

Saintinoo:
Ask your president, States are being given between 3.5bn to 5bn monthly as allocation, junk of those fund goes to payment of unproductive civil servants.

Ask you president why the country macroeconomic indices aee not working. Ask your president why;
1. Exchange rate is bad
2. Inflation is high
3. Unemployment is high
4. There is price instability
5. Too much insecurity

Ask you president and leave those governors for now.

Is there any administration that you never complained of the 5 listed above?. When there was about 5 different exchange rates during the last administration, didn't you complain?, When about 41 items were banned from import lists, didn't you complain?. When borders were closed and farmers couldn't farm due to insecurity, didn't you complain?. When there were series of queues at the filling stations due to fuel scarcity despite subsidy being paid, didn't you complain?. I can't help you if you can't see something different.

Agboriotejoye:
Let's even it out

States get 26%. 26/36 is 0.7

LGs get 22% 22/744 is 0.029

Cumulatively, that is 0.729 per state+LG

That's what each state gets on average.

Assuming FG spends same amount on each state, FG with 52% gets to spend 52/36 which gives 1.4 per state.

I hope you can see how fallacious your claim is now

Dude, you need to understnd how the system works. All the 48% from all the states goes back into the same, one economy. 52%+48% goes into one economy and that's how inflation is controlled. Hope you've learnt something new.

Agboriotejoye:
And whose fault is that?

I hope you know that devaluation leads to more money in circulation which leads to inflation as well

Still the same thing, when you rely damn too much on importation.

Agboriotejoye:
FG 52%
States 26%
Ls 22%

Out of the 26%, Kano gets about 0.7% while Lagos gets 0.8. Lagos also gets 13% derivation while Kano gets none. Bayelsa gets about 0.6% and also 13% derivation

So how does it make sense to lump all the states together and ask citizens to hold their governors accountable for a paltry 0.8% when the FG is holding 52%? How?!!!

Dude, states collect 48%. Governors of each state determines who gets what.

Agboriotejoye:
It shows how ignorant you are. So devaluation does not affect the purchasing power of your currency abi?

It only does when you over rely on importation.

Beautifulday:
Both affect your spending.

How much was diesel before devaluation and hoe much it is now?

Devaluation affect purchasing power

What you just stated is paper economics. Real time economics says, devaluation means more more to import same thing you think you are discouraging people from importing. That more more is passed to the consumers.

That affects the economy

In a sane proper economy, you can't have timber and be importing furnitures, poultry farms and be importing eggs.. Would rather a McDonald's than local bread. A terrifyingly import-dependent economy.

9jatriot:
@OP, your question is a very valid question. States have more allocation and what are they doing with it.

Well, the situation that CBN has noticed is that looters in those states probably use their share of the FAAC allocation to buy dollar which further puts pressure on the naira. It has been increasingly observed that the rush for USD usually happens not long after states get their share of their allocation.

It is a really big problem for CBN to deal with.

This is not to say there are no other factors, but this self-sabotaging one is fueled by an increase in allocation which was supposed to cushion the effect.

I also read in the news how Governors divert funds to BDCs. Food for thought.

DMerciful:
Run along, you don't know anything

Bring your own stats.

BabaRamota1980:
I already told starving Obi supporters to stone their governors if they fail to open treasury and feed their citizens.

Omoibo have every right to be fed at home, no need to relocate to Yorubaland to survive and not die of starvation.

Co-signed 100%.

Beautifulday:
That means, inflation has eaten up the increase.

From May till now, that's less than 6% inflation. A less than 6% has eaten up the increase?. stop clowning abeg.

Beautifulday:
Let me help you.

If state was spending 1 million before the devaluation of naira and removal of subsidy.

How much, should they be spending now?

Devaluation is supposed to affect your balance of trade, discourages import and encourages export. The only thing that should affect your spending is inflation.

RenaissanceGuy:
And what if the one that was supposed to be selling for N15K is now sold for N40K?? Even if you didn't do basic economics in school, you should know by now that when the value of dollar goes up in any country, the price of commodities shoot up automatically - whether those commodities are imported or produced locally.

The way you guys glorify dollar is crazy. Dollar and prices of our local produce are mutually exclusive, if borders weren't shut, if there was no insecurity or minimal insecurity, food prices would have been much stable and relatively lower. Excess imports is killing our reserves.

mrvitalis:
Who are you to tell a hard working farmers what and what to do?

Lmao it's his money his life

You've got to adjust to changing times, even within the family household. In South Africa, petrol price is going up pretty soon, fewer cars would ply the roads. You don't go lavishing during inflation.

Agboriotejoye:
What is the sharing formula?

52% - 48%(state+LG)

mrvitalis:
The farmers don't buy clothes abi, them don't buy drugs, phones, and other imported goods

This shows you lack basic understanding of economics

Do you think everybody patronizes all things imported as you. if you can't afford a 40,000 phone, you go for a 15,000.

DMerciful:
What was the inflation rate as at May 29?

Mind you inflation rate is different from inflation!

Inflation was always going to increase whether in May or December, the indices were glaring. The bottom line is that as at the year end, inflation stood at 28.2% and < 1% as at January. Your last sentence is absurd.

Agboriotejoye:
You missed the dollar denominated reserves.
The fallacy in your submission is that you're treating the 36 states and 774LGs as a single entity. That's false logic and reductionist. The 36 states collect varying amount from the national purse and each is expected to function optimally as a state with same set of officials and functions. Meanwhile, most of those officials and function are a replica of the FG that gets far above them in allocation

Replica, you say?. You're very very untruthful to yourself, i don't know why you so chose to be blantanly dishonest. Meanwhile, allocations are shared on the basis of a standard sharing formula. I don't know how you mean by single or seperate entity.

Ozommadu:
Be like say this governor bla bla bla is the new propaganda from Apc WhatsApp group??

Your own propaganda is to absorb the sheer irresponsibility of your Governor?. The President has signed the new electricity bill whereby the states can generate and transmit power. Has your Governor followed through? or you've been directed to scream at Abuja when your Governor has been given the power to attract investors and light up your state. You go dey alright.

mrvitalis:
People are not complaining about what governors can fix... People are not saying roads are bad, infrastructure is bad that's not the present issue

The present issue is the the economic decision of Nigerians are not favorable to the people and the president is responsible for this 100%

If you were educated you should know this

Dollar is too high, purchasing power is low, businesses are not moving... What has the above for to do with governors

Dollar is too high?, Lol. Is the vegetables, egusi, yam, etc purchased from the farms in dollars?, is taxis paid for in dollars?. It's funny when you go buy a madu of garri and they say "you know say dollar don high", Lol, funny greedy Nigerians. Governors were promised more funds to cushion subsidy effects. How many people has your Governor empowered in 6months?. The 5billion palliatives he received, how many got palliatives in your state?.

Agboriotejoye:
This is a darn ignorant question
Whatever increase is there in allocation, FG still takes the lion share. Take for example your claim that 787bn was shared in May before Tinubu took office, and 1.13trn in August, 3 months after he took office. Of the increase of about 300bn which you're touting, Tinubu alone will take 52% and that is minus the big fact that the dollar denominated returns on that increase will be with Tinubu and not the state govs since he controls the CBN.
The state govs individually get less than 10% of the total increase.

You missed your math class, FG gets more than states by only 6% and obviously FG takes care of far more financial burdens than all the states. Cumulatively, FAAC has shared over 3trillion extra funds in 6months.

DMerciful:
Inflation has increased 4%? Are you in primary school?

As matter of fact, inflation only increased from 28.2% in December to 28.9% in January, which is less than 1%.

mrvitalis:
Did tinubu and APC protest against state governors in 2012

Do governors control Inflation
Do governors control petrol cost
Do governors control for example policies
Do governors control security
Do governors control economic policy?

Are we churning out more illiterates on a daily?. What kind of a question is this?. Are Governors meant to be robot who collect allocations and security votes and got stash it in their purse while their states rots away?

DMerciful:
It has not increased interms of intrinsic value but has increased interms of face value. The money will still parchase far less versus what half of it could purchase about one year ago

Stop talking nonense, inflation has only increased by 3%-4%. States are receiving more allocations which should reflect in the state's infrastructures.

PS; Inflation is actually less than 1%.

Ozommadu:
My governor is not the one that removed subsidy that made inflation and food prices skyrocket.

He's not the one that floated naira

He's not the one that continued where buhari stopped.

My governor is not clueless and incompetent like tinupoo


My governor is not the one shouting ebi pa wa oo

Do you still wanna know my governor??

Is your Governor not collecting more money since the removal of subsidy?. What's he been doing with more money he collects?, he chases you away to go bark at Abuja while he steals away your future and that of your family.

PressMyButton:
A state like Abia that has got more money but the governor budgeting 1 billion for food and another billions on cars yet Abians are crying to Abuja while Otti is left stealing them blind.

And you'd never see them picket their Governor's office to protest. They've been jinxed to look away their Governors' recklessness.

Ozommadu:
What is tinupoo doing in France??

Did President Tinubu take your State Governor's allocation to France? or did your Governor not collect his allocation at the end of January before Tinubu travelled?

In July/August, the President gave 3billion-5billion to states as palliatives, however, most state Governors shared nothing to their citizens. Nobody is holding them responsible for sitting on the palliative funds. Governors are spending very recklessly on food, vehicle budgets, etc. Citizens of each state appears to be redundant, crawl into their shells, hardly demand accountability from their Governors allowing them get away with blue murder.

The monthly allocations accrued to the states have seen a big increase since the removal of fuel subsidy. January 2024, FAAC shared 1.13trillion. In December 2023, 1.13trillion was shared, in November 2023, 1.78trillion shared. In August 2023, 1.13trillion was shared.

These respective allocations were a big boost from 786billion that was shared on May 2023 at the tenure end of the last Administration.

The President had a talk with the Governors over the subsidy removal and promised increased allocations to enable them cushion the effects and help them deliver to their people.

So far, Governors haven't shown commiserable deliverables to the increase in allocation at their disposals. It appears to be that the Governors are less interested in driving the vision of the president than lining their pockets while their people groan and complain under their watch.

The media are not putting the pressure on the Governors, everyone's eyes are fixed on the President.