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Nairaland Forum / Nairaland / General / Politics / What Are The Governors Doing With The Increased Allocation? (13583 Views)
Increased Allocation: Muftwang Tells Tinubu Purchasing Value Of FAAC Has Reduced / May Day: Join Us In Clamour For Increased Allocation, Oyebanji Urges Labour / FG To Begin Ruga Settlements In 11 States Where The Governors Have Consented (2) (3) (4)
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Re: What Are The Governors Doing With The Increased Allocation? by favor914: 4:40pm On Feb 06 |
kenny714433:Confused Dreamer na suffer be your portion. 3 Likes |
Re: What Are The Governors Doing With The Increased Allocation? by DatNiggaDaz: 4:40pm On Feb 06 |
This type useless question no one asked during GEJ time For some there is no other time to ask it. Only when there renewed hopelessness comes to their realities, they shift the goal post to defend their shameless. Where is your graduate of Accountancy, wetin be his Business for France Let"s not forget to ronu till casket drops 6 Likes |
Re: What Are The Governors Doing With The Increased Allocation? by mrvitalis(m): 4:49pm On Feb 06 |
femisplash: 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 8 Likes 2 Shares |
Re: What Are The Governors Doing With The Increased Allocation? by femisplash: 4:50pm On Feb 06 |
DMerciful: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. 1 Like |
Re: What Are The Governors Doing With The Increased Allocation? by PressMyButton: 4:55pm On Feb 06 |
Ozommadu:your mothers are willingly selling off their kids so they could eat. I am not the one responsible for that, my nigga. ' ' ' 3 Likes 1 Share |
Re: What Are The Governors Doing With The Increased Allocation? by femisplash: 5:00pm On Feb 06 |
mrvitalis: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. 3 Likes |
Re: What Are The Governors Doing With The Increased Allocation? by mrvitalis(m): 5:01pm On Feb 06 |
femisplash:Who are you to tell a hard working farmers what and what to do? Lmao it's his money his life 5 Likes 1 Share |
Re: What Are The Governors Doing With The Increased Allocation? by Agboriotejoye(m): 5:04pm On Feb 06 |
femisplash:What is the sharing formula? 1 Like |
Re: What Are The Governors Doing With The Increased Allocation? by femisplash: 5:13pm On Feb 06 |
Agboriotejoye:52% - 48%(state+LG) 2 Likes |
Re: What Are The Governors Doing With The Increased Allocation? by MsAllison(f): 5:14pm On Feb 06 |
favor914:Fergie001 mynd44 nlfpmod Seun Dominique Mukina2 Rule 2 2 Likes |
Re: What Are The Governors Doing With The Increased Allocation? by 9jatriot(m): 5:16pm On Feb 06 |
@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 ordinarily cushion the effect of subsidy. 4 Likes |
Re: What Are The Governors Doing With The Increased Allocation? by RenaissanceGuy: 5:17pm On Feb 06 |
femisplash: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. 3 Likes |
Re: What Are The Governors Doing With The Increased Allocation? by femisplash: 5:18pm On Feb 06 |
mrvitalis: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. 1 Like |
Re: What Are The Governors Doing With The Increased Allocation? by Beautifulday: 5:28pm On Feb 06 |
femisplash: 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? 1 Like |
Re: What Are The Governors Doing With The Increased Allocation? by Beautifulday: 5:29pm On Feb 06 |
femisplash: That means, inflation has eaten up the increase. 2 Likes |
Re: What Are The Governors Doing With The Increased Allocation? by femisplash: 5:29pm On Feb 06 |
RenaissanceGuy: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. 4 Likes |
Re: What Are The Governors Doing With The Increased Allocation? by femisplash: 5:35pm On Feb 06 |
Beautifulday:Devaluation is supposed to affect your balance of trade, discourages import and encourages export. The only thing that should affect your spending is inflation. 1 Like |
Re: What Are The Governors Doing With The Increased Allocation? by BabaRamota1980: 5:36pm On Feb 06 |
femisplash: 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. 4 Likes |
Re: What Are The Governors Doing With The Increased Allocation? by femisplash: 5:38pm On Feb 06 |
Beautifulday:From May till now, that's less than 6% inflation. A less than 6% has eaten up the increase?. stop clowning abeg. 2 Likes |
Re: What Are The Governors Doing With The Increased Allocation? by BabaRamota1980: 5:38pm On Feb 06 |
1 Like |
Re: What Are The Governors Doing With The Increased Allocation? by DMerciful(m): 5:39pm On Feb 06 |
Run along, you don't know anything femisplash: 1 Like |
Re: What Are The Governors Doing With The Increased Allocation? by Beautifulday: 5:40pm On Feb 06 |
femisplash: 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 4 Likes |
Re: What Are The Governors Doing With The Increased Allocation? by Beautifulday: 5:41pm On Feb 06 |
femisplash: 0.5% increase in paper is not the same in the street. |
Re: What Are The Governors Doing With The Increased Allocation? by Agboriotejoye(m): 5:43pm On Feb 06 |
femisplash: 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?!!! 4 Likes 2 Shares |
Re: What Are The Governors Doing With The Increased Allocation? by femisplash: 5:43pm On Feb 06 |
BabaRamota1980:Co-signed 100%. 3 Likes |
Re: What Are The Governors Doing With The Increased Allocation? by Agboriotejoye(m): 5:44pm On Feb 06 |
femisplash:It shows how ignorant you are. So devaluation does not affect the purchasing power of your currency abi? 4 Likes 1 Share |
Re: What Are The Governors Doing With The Increased Allocation? by femisplash: 5:44pm On Feb 06 |
DMerciful:Bring your own stats. 2 Likes |
Re: What Are The Governors Doing With The Increased Allocation? by femisplash: 5:47pm On Feb 06 |
9jatriot:I also read in the news how Governors divert funds to BDCs. Food for thought. 2 Likes |
Re: What Are The Governors Doing With The Increased Allocation? by Ikinternational: 6:01pm On Feb 06 |
PressMyButton: Why do you people argue like this? Arguing from extremes standpoint is so stupid. What you're really saying is you don't have a good enough counterpoint. Anytime I argue about success n achievement with a nairalander.....their response, oh you must be a billionaire 🙄🤦🏾♂️🤣 so damn silly 2 Likes 1 Share |
Re: What Are The Governors Doing With The Increased Allocation? by femisplash: 6:02pm On Feb 06 |
Beautifulday: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. 1 Like |
Re: What Are The Governors Doing With The Increased Allocation? by Ginik: 6:07pm On Feb 06 |
femisplash:people should hold their state governors responsible 1 Like |
Re: What Are The Governors Doing With The Increased Allocation? by femisplash: 6:17pm On Feb 06 |
Agboriotejoye:It only does when you over rely on importation. 2 Likes |
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