Emu4life:
What are these states borrowing money for? No Capital Projects/Infrastructure, No proliferation of Factories, Poor Education and catastrophic Health Care system. what are they borrowing money for? To fund the extravagant lifestyle of politifians

To embezzle na
Lol

blackpanda:


And what is the amount Give us the figures pls

enough to generate #15billion in June when the headquarters of north is generating 2billion

Over 100% dwarfing on kano

michlins:
When they talk about vat, someone from Enugu and Abakaliki will be joining Lagos State to shout fiscal federalism forgetting that his state is on same level as Yobe state in terms of IGR.

Truth is that aside from Lagos and about two or more states, others depend on the federal government to pay ordinary salaries. That's how terrible it is

Gbamsolutely, many states are not generating vat but think na only North go shout when shit hits the fence.

TheRareGem1:


https://punchng.com/states-generate-n5-30tn-get-n10-19tn-borrow-n1-84tn-in-five-years/?utm_term=Autofeed&utm_medium=Social&utm_source=Twitter#Echobox=1631244954

Lagos got N523.63bn from FAAC, raised N1.84tn internally, and borrowed N290.24bn domestically. Omo Lagos State internally generated rev is massive. Just see how much the Northern State got, as against what they generated. God bless Gov Wike for this revenue revolution.....

This purely injustice and its defy the principle of equality
Look at LAgos , ogun and river ,they got far low from what they are generating
Why most northern state get double and even triple of what they are generating
That's unfair

michlins:
When they talk about vat, someone from Enugu and Abakaliki will be joining Lagos State to shout fiscal federalism forgetting that his state is on same level as Yobe state in terms of IGR.

Truth is that aside from Lagos and about two or more states, others depend on the federal government to pay ordinary salaries. That's how terrible it is

Fiscal federalism will force governors ( especially the idi.ot that left out dear Enugu state in the hands of God) to seek ways to generate more income for their state, by building industries and other investments.

Surely we will feel the pains for some time but later we will see the benefits.

Kogi raised N65.89bn, borrowed N26.06bn, and got N227.42bn from FAAC.

Osun raised N68.59bn, got N95.05bn from FAAC, and reduced its debt by N10.59bn


This means osun state government isn't doing so bad..
This change my perspective..
He has actually reduced the debt

FIRS should F off, allow state to have full control over their Internal generated revenue, VAT and their resources, any state of the Federation that is not generating enough to run their state will be motivated to work hard and build their economy. This current system breeds laziness

Most governors will now reference this list to go on a borrowing to catch up with other states with a higher borrowing total.

Them dey like this kind negative competition well well.

This is expository.

States Should control and fend for themselves. Their Should be troue federalism, let there be competition among States

There is something fishy about this analysis.I

Already the allocation favors the northern states with Kaduna being the only exception

michlins:
When they talk about vat, someone from Enugu and Abakaliki will be joining Lagos State to shout fiscal federalism forgetting that his state is on same level as Yobe state in terms of IGR.

Truth is that aside from Lagos and about two or more states, others depend on the federal government to pay ordinary salaries. That's how terrible it is

I believe this is a great step, next government that will be coming will be preparing their Mind on how to create revenue in their various states, instead of thinking about about how to pocket federal allocation money.
Because there will be no money to pocket.

michlins:
When they talk about vat, someone from Enugu and Abakaliki will be joining Lagos State to shout fiscal federalism forgetting that his state is on same level as Yobe state in terms of IGR.

Truth is that aside from Lagos and about two or more states, others depend on the federal government to pay ordinary salaries. That's how terrible it is

You are not smart all, may be because you think igbo people are your real problems

Check the FAAC for Ogun state and that of Yobe state

What in this life do you think will make Yobe receive more money from FAAC than OgunState?

Please make the explanation very elaborate

Which one be your own,it is wrong FG to take care of any state in true federalism.any state that cant take care of itself should be scrapped.let every state develop at thier own pace.

blackpanda:


50bn is not even enough to pay salaries let alone construct roads, markets etc. No state except Lagos and ogun can function without FGN intervention.

Also it's not a policy, it's a judgment. Judgment that is already on appeal.

But if I'm buhari I will allow states collect. But all the judges will have no salary till fgn completes the appeal process. Since they are also a beneficiary of the VAT. Let the state govt pay them from the collection

Don't them...

Truthissupreme:
That is what they want you to believe

I wonder why you said Lagos and ogun without adding rivers

If wike didn't talk about the injustice you won't believe how much he generated

So let every state collect their Revenue and VAT

We already know those crying for "brothers keeper"

Is it not only Osun State that even dared to reduce her debt burden? Virtually everyone is on borrow borrow...

vedaxcool:


Gbamsolutely, many states are not generating vat but think na only North go shout when shit hits the fence.

This issue is not about that, the bone of contention is

Why will a state like yobe get more money from FAAC than Ogun State?

blackpanda:


50bn is not even enough to pay salaries let alone construct roads, markets etc. No state except Lagos and ogun can function without FGN intervention.

Also it's not a policy, it's a judgment. Judgment that is already on appeal.

But if I'm buhari I will allow states collect. But all the judges will have no salary till fgn completes the appeal process. Since they are also a beneficiary of the VAT. Let the state govt pay them from the collection

Let federal government stop embezzlement of oil money lawyers salary will be paid by state.
You can't say because of v.a.t you'll stop paying lawyers.
Kuku stop collecting oil money and let's see what will happen

TheRareGem1:
We need to open our eyes as indigens of our respective states to make sure we hold our governors responsible and accountable, but sadly, our eyes are always on FG while state governors are stylishly mortgaging the incoming generations

So if u r from benue but was born and bred in plateau state, live and work and pay taxes in plateau, u will leave ur state of residence n start monitoring where ur tax isnt collected?
Federal govt controls virtually everything from security to finance and power.
What we should be clamouring for is for revolution of power from the centre so people like u wont come and distort facts and figures with unnecessary sentiments.
When Gej was there, everybody were accusing himfor states frailty and failures to pay salaries meanwhile they were collecting monthly allocation.
But now u want us to start asking and monitoring state govrs and leave the fed govt, talk of an hypocritic demon.

richidinho:


You are not smart all, may be because you think igbo people are your real problems

Check the FAAC for Ogun state and that of Yobe state

What in this life do you think will make Yobe receive more money from FAAC than OgunState?

Please make the explanation very elaborate

I don't think he'll answer that, he thinks he's smart

michlins:
When they talk about vat, someone from Enugu and Abakaliki will be joining Lagos State to shout fiscal federalism forgetting that his state is on same level as Yobe state in terms of IGR.

Truth is that aside from Lagos and about two or more states, others depend on the federal government to pay ordinary salaries. That's how terrible it is

With ur assertion we need only 4 states in Nigeria, lagos and the 3 others right...
Those states have minerals that havent yet been tapped and harnessed. They have lands, they have human power, malaysia dont have oil, norway or iceland doesnt have crudeoil, but they r countries with better gdp than some countries with oil.
Lagosis viable today cos it houses 99 percent of Nigeria's port. If calabar, onne or bonny, and ibom deepsea port come on board, lagos revenue will fall.

TheRareGem1:
We need to open our eyes as indigens of our respective states to make sure we hold our governors responsible and accountable, but sadly, our eyes are always on FG while state governors are stylishly mortgaging the incoming generations

Hmmmm

Well, the figures you saw there are what they want you to believe.

Even if suggestions are right, let every state get everything they generate and give to FG what each state so desire.

TheRareGem1:


https://punchng.com/states-generate-n5-30tn-get-n10-19tn-borrow-n1-84tn-in-five-years/?utm_term=Autofeed&utm_medium=Social&utm_source=Twitter#Echobox=1631244954

its all down d drain

michlins:
When they talk about vat, someone from Enugu and Abakaliki will be joining Lagos State to shout fiscal federalism forgetting that his state is on same level as Yobe state in terms of IGR.

Truth is that aside from Lagos and about two or more states, others depend on the federal government to pay ordinary salaries. That's how terrible it is

Do you know what VAT means. For now ,our VAT is paid centrally but it will change henceforth. Every state will collect VAT based on goods consumed in their states and east and north will do well here.

It will favour all states but the VAT for ogun and Lagos will be reduced with no significant effect.

richidinho:


You are not smart all, may be because you think igbo people are your real problems

Check the FAAC for Ogun state and that of Yobe state

What in this life do you think will make Yobe receive more money from FAAC than OgunState?

Please make the explanation very elaborate

I'm Igbo man like you. How much does the whole SE contribute to the FAAC.


Most of you guys don't understand the real problems of Nigeria. All you care about is what will paint APC and Buhari black. They're utter failures but the system is totally wrong.


Moreover it's Igbo man that brought this current system of government

Every state has arable land.

The commonest product is food. Go to farm, money dey there.

Those selling cattle N400,000. Is that not a business ?

Each state should collect VAT from business in their territory. This will make Governors to sit up and create wealth for their people.

Collecting VAT on point of goods importation into the country is not a good one, if it is not the current status quo.

VAT is consumption tax; goods imported into Nigeria should not pay VAT at the ports b4 clearing because not all of them will be consumed/retailed inside Lagos.

If one imports raw materials through Lagos port and pay VAT on it, when it has not been processed into finished products. Talkless of distributing it to the consumer.

Lagos should be guided. Consumption tax is not paid at PORT OF ENTRY. Consumption tax is paid when goods and services have been sold or transferred to an end user. VAT is charged on SELLING PRICE.

michlins:
I'm Igbo man like you. How much does the whole SE contribute to the FAAC.


Most of you guys don't understand the real problems of Nigeria. All you care about is what will paint APC and Buhari black. They're utter failures but the system is totally wrong.


Moreover it's Igbo man that brought this current system of government

I'm not even an igboman, but i just needed to know, what you are saying is that Yobe contributes more to FAAC than Anambra or Ogun, have you been to Yobe before?

richidinho:


I'm not even an igboman, but i just needed to know, what you are saying is that Yobe contributes more to FAAC than Anambra or Ogun, have you been to Yobe before?

I don't know what each state contributes but I know that about thirty two states in Nigeria can't run without the federal government allocations

blackpanda:

But u just read that apart from Lagos and ogun, the other states aren't generating anything.

You can't be married just because your siblings are married without been ready to face the responsibility. It doesn't make any economical sense to exist as a state when truly they should be a local government area. Paul can't be working while peter keep feeding fat with the lion share simply because they belong to the region that is considered as a less privilege states. This is the main reason the structural work of the country should be revisited. The fg can't keep functioning as fg, state and LGA as the same time.

blackpanda:
Those foolish chest beaters won't like this. They prefer the false narrative that north depends on south. The truth is 90% of southern states generate nothing!


I just de laff. Keep clapping for d vat judgment. Na una go cry blood

The restructuring is coming small small. For us in the east, we will expand our automotive industries ,manufacturing base and collect sales on gas and oil.
We will see how your northern states will survive. I pity your sokoto and katsina states bc they will be worst hit .

michlins:
I don't know what each state contributes but I know that about thirty two states in Nigeria can't run without the federal government allocations

Nobody is stopping FAAC allocation, after all we are still selling crude oil, only Vat will be pulled out from the Faac