₦airaland Forum

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

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

Iffa hear say Osun no dey there . Check again

erico2k2:
Politicians DO NOT PAY BACK LOANS,
They simply pass it on to the next government.If he could afford to pay he wont Borrow i n the 1st place. Im surprised Delta,Bayelsa and Rivers are not on the List.Lagos exceeded by nearly or more than %300,you guys in Lagos should be asking some serious questions citing the huge IGR you have.

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

LordAdam16:
It is a valid question.

You made a mistake. Shoulda been Cross River.

-Lord

You're right breh. I'll edit asap

erico2k2:
When shyte hit the fan, you will retract ur statement

Make we dey watch

NigerDeltan:
Where did u get Rivers from?

From Pluto

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

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

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.

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.

https://s23.postimg.org/dw0z811x7/giphy.gif

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

Some of these states probably thought oil money would flow foreeeever like some fairy tale movie lol . Oil money sweet dieeee. The signs were already showing years before oil prices went down. Now, they are in deeeeeeep shyyyyyt!

I really don't know how they would recover from this.

ruggedized1:
These states you mentioned are very capable economically. My concern is more on those civil servant's states with zero economic activities.

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

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

=============

Dem just like to dey whyne potor for this country

Jona did it, Agbaje did it, O'loonloyo did it, Omokri did it, FFK and Fayose are doing it, Atiku has joined lewl

They gave Jona Nnamdi

O'loon loyo's own was Nkem

Fayose's own was Nwanne di na Mba

FFK 's own was Odumagu

Omokri is already backtracking.

Folks, there is a reason why they always choose potor for this nonsense

Sadly, potor still don't understand the fact that it's 100% for political reasons.

~~~~~~~~

kn23h:
headwarmers and handkerchief dancers. Una no go kee person for here

jetleeee jetleeeee

Haha..It's required for you to tie a handkerchief on your legs if you want to do potor cultural dance. The head-warmer is for hiding drugs

PearlStreet:
It's really unfortunate. That post really pained them o!

This one is even small. October 1st, their ultimatum expires. Them go smell pepper that day for Nairaland.

I get one gif wey I wan unveil that day wtr the Niger Delta ultimatum to Yorubas

The Northerners have already canceled theirs, so I'm not really looking forward to that one

Pearlstreet's post was deleted while the post he replied is still there

Una go dey alright

This one weak me oh

~~~~~~~~~

na wa oh

OjukwuWarBird:
I stand on my ground that both Blue3k and you are bloody illiterates

Now ask yourself this question

If importing through Onne port will make me sell my goods at Onitsha for #100, and importing through Lagos seaports will make me sell my goods for #150, why will I go through Lagos when my competitors can knock me off through cheaper goods.

Don't you know that the longer the distance to my warehouse the more the cost to my goods.

You and Blue3k should think deeply before talking

You still don't want to wear your bra lol. I know how it feels when your lies have been bursted. You aren't even addressing the point. Potor style.

Everytime we talk A, potor switches it to W

At first, you said there are no ports in the SE, we told you potor land is landlocked, hence the region can't have a seaport but there are functioning ports in the ND. Now, you've changed it to distance lol.

Whose fault is it that it's more expensive to ship through those seaports. You should file your complaints and submit it to those managing the ports

Small time, you go say na marginalization if sh.it comot your yansh

Anyway, me I don tell you my own. I probably won't reply you again cos I feel say you be trap for my ban. Preserving this moniker for October 1st uno

I think Deomelo's post got caught by the spambot

OjukwuWarBird:
Which stupid link that burst what

You think we are fools

You believe an Igbo importer will decide to import through Lagos if he has a better alternative in the East.

Which school you go self

Calm your tities Shinasa. Wear your bra!

I won't dig out that thread for you. You have to do that yourself or beg Blue3k to show you

I repeat, there are like 3 functioning ports in the ND. Na una no wan use am cos you already tied your apron to Lagos seaports lol. You have no excuses

You can keep regurgitating the same crap, but the facts are there not the nonsense uncle Chike told you

Also, I don't know why you keep mentioning East like a port could be built there. Potor land is landlocked

OjukwuWarBird:
Open Ibaka seaport and dredge River Niger

You make it sound like the so-called Ibaka seaport is located in the SE. Aren't the NDeltans the ones who should be talking about marginalization since the seaport is located in their region?

Also, the myth about seaports in the ND not functioning has been busted. Go find those threads.

Laudate, thank you very much for posting a more detailed profile of Baton Nigeria. I really appreciate. Na time no dey show me love

Has anyone posted about Animal Care Services? They are the producers of the famous funtuna eggs. Yepp! The company is owned by Dr Olatunde Agbato

There is also Amo Byng Nigeria limited and Amo Farm Sieberer Hatchery owned by Ayoola Oduntan.

These are some of the biggest poultry farms and hatcheries in Africa

For those who do not know, Ayoola Oduntan is the president of Poultry association of Nigeria.

OkoYibo:
Lalasticlala
Seun
Domin.ique
OAM4.J
Mynd.44
Obino.scopy
Semid.4lyf
Marpol

Let's heat the opinions of others.

Na old thread. We gats create new one to ball uno

Things like this can happen to anyone at anytime. We gats dey grateful mehn

I wish him speedy recovery

Chances are, he will get away with it in Lagos as per shofishtikesan. But one thing is sure, more Yoruba radicals will be birthed and he will make things difficult for his people in the long run. 2015 is still fresh in everyone's mind. It seems these idiots never learnt from it

As for Kaduna, well.....i'll be here watching from bird view