₦airaland Forum

Revenues tumble?

I thought the APC spin doctors here said that the Governors revenues have skyrocketed since "subsidy was removed"?

nairaman66:
FG return subsidy, else this country will tumble on you and everyone. The Naira is being bashed up and down by this single decision, there is no purchasing power of the Naira, since demand is low. PMS is the engine room of the economy, Tinubu cover your face in shame and introduce subsidy else everything will crumble!

If I was buying 10 liters of PMS before, I will buy 3-4 liters now. Meaning less money to go round. This is the reason the economic metrics are all going down/red! Useless old fools in sensitive positions!

This rants just because you don't want to call out your lazy governor.

Your hatred is endemic.

SamaritanGirl:
Soludo has finally destroyed Anambra beyond redemption with his reckless borrowings. That man ehh......

Heatful Dumbo I know you were waiting to see Anambra on the list, Soludo is yet borrow anu

airsaylongcome:
Revenues tumble?

I thought the APC spin doctors here said that the Governors revenues have skyrocketed since "subsidy was removed"?

It's time to remove your garment of hatred.

This post isn't about any political party in particular. Call out your lazy and dumb governor.

Dem don collect revenue finish use am but SUVs and overseas trip

frankson1:
It's time to remove your garment of hatred.

This post isn't about any political party in particular. Call out your lazy and dumb governor.

Hatred how? The APC led FG has its minions here spewing all manner of inaccurate information about increased revenues to the state Governors whereas reality is otherwise and that's "hatred"? Swerve joor

frankson1:
This rants just because you don't want to call out your lazy governor.

Your hatred is endemic.

Hatred? For who exactly? All these fake baked Yoruba under bottom bridge with their hypocritical attitude towards everyone who calls out this nepotistic government.

Your head go correct soon when hunger dun wire you!

adenigga:
Source: https://punchng.com/20-govs-borrow-fresh-N446bn-as-revenues-tumble

This is why I shake my head in pity when I see APC zombies posting that more revenue allocations to state is an achievement of the ojuyobo in aso rock.
The states have FX obligations to service to contractors and lenders which are denominated in foreign currencies, yet within a year you have devalued the currency by over 300% and increased minimum wage by over 200% while you only increased their allocation by 40% and yet you think the states should do more with the increased allocations and should be held accountable for the mess on ground.
APC zombies are very daft with their trying to shift the blame of the economic mess from their druglord in aso rock approach.

SamaritanGirl:
Soludo has finally destroyed Anambra beyond redemption with his reckless borrowings. That man ehh......

There's no oil money again in Nigeria ~ Gov soludo

The shithole is being ruled by a bunch of self serving, insatiable THIEVES!💯💯💯💯
# a stitch in time saves nine ⌚9️⃣✅

malali:
1. Plateau State
• Debt Servicing Cost: N61.23 billion
• IGR: N11.11 billion
• Debt-to-Revenue Ratio: -550.76%
2. Kano State
• Debt Servicing Cost: N60.02 billion
• IGR: N24.57 billion
• Debt-to-Revenue Ratio: -244.4%
3. Adamawa State
• Debt Servicing Cost: N14.48 billion
• IGR: N5.75 billion
• Debt-to-Revenue Ratio: -252.0%
4. Bauchi State
• Debt Servicing Cost: N16.8 billion
• IGR: N3.92 billion
• Debt-to-Revenue Ratio: -42.9%
5. Ekiti State
• Debt Servicing Cost: N7.94 billion
• IGR: N16.39 billion
• Debt-to-Revenue Ratio: 47.9%
6. Taraba State
• Debt Servicing Cost: N20.23 billion
• IGR: Not provided; inferred high borrowing
7. Yobe State
• Debt Servicing Cost: N10.17 billion
• IGR: Not provided; inferred high borrowing
8. Kogi State
• Debt Servicing Cost: N41.22 billion
• IGR: Not provided; inferred high borrowing
9. Cross Rivers State
• Debt Servicing Cost: N121.22 billion
• IGR: Not provided; inferred high borrowing
10. Edo State
• Debt Servicing Cost: N22.66 billion
• IGR: N34.44 billion
• Debt-to-Revenue Ratio: 65.8%

A lot of these states are about to fail or face liquidity crises, some of these states should not be allowed to borrow money without federal government approval, These debt servicing numbers shows gross fiscal irresponsibility, looting of funds by previous administrations and multiple other causative factors. Some of these states are sitting on large arable land and millions of unemployed people, who can farm those arable land, but everybody wants "oyel" money.

Don't mind those Dundee headed haters who would keep blaming tinubu for being smarter than obi and GEJ.

This is where there wanton rabble rousing should be directed and intellectual insight should be sort to this financial conundrum in abeyance to logic.

How can a state like ekiti be generating more IGR than almost all the northern states who gets far more from faac......also a state like abia which is a vastly commercial city earning less igr than ekiti or osun......indices such as this are some of the underlying factors the Nigerian economy is stuttering and poverty in prevalence.......some states are highly unproductive and poorly managed.

Imagine states like Katsina,borno,kebbi even Niger and plateau with all the population,landmass and economic potentials making so little IGR......but you wont find those headless obidients here since it's not about tinubu.

The sub national governments have been so reckless and there's no strong control mechanism to checkmate their excesses.

I blame their animals supporter

JackDaAlienz:
Only Abia State is working among the 36 states

which Abia. Propaganda

Ojuntana:
Blaady agbadorian rogue

All this anger for one opinion.

nairaman66:
FG return subsidy, else this country will tumble on you and everyone. The Naira is being bashed up and down by this single decision, there is no purchasing power of the Naira, since demand is low. PMS is the engine room of the economy, Tinubu cover your face in shame and introduce subsidy else everything will crumble!

If I was buying 10 liters of PMS before, I will buy 3-4 liters now. Meaning less money to go round. This is the reason the economic metrics are all going down/red! Useless old fools in sensitive positions!

Not true ....Nigerians are stoic agitators with wanton entitlement mentality.

The engine room of the economy is AGO and gas which all industries that are the major drivers of any economy rides on......subsidy has long been removed from these and heavens haven't fallen.
All you need do is adjust yourself with modern work techniques that doesn't require you having to head out of your environ everyday....many organisations now adopt work from home schedules that has been proven not to affect productivity in anyway.

Shared transportation is being adopted by many which has lead to less environmental pollution,less stress on transport infrastructure and more efficient use of energy.......i drive my car less as there is less need to move around and I can leave without noisy generators as there is renewable energy alternatives.

Covid19lockdown:
Anambra serviced its debt with N4.8bn but got N18.61bn IGR at a ratio of 25.9 per cent.

I can beat my chest, you did not read the articles from beginning to end. Read again.

Don't mind people like him who always want to punch above their iq level....yapping on about what they know nothing about and forming jaundiced opinions on their gradually uninformed ilk.

nairalanda1:
The fact is, most states are not earning enough IGR.

If states really wanted to earn IGR, they would tax more people in their states...however that would lead to riots and protests. Meanwhile, oil revenues are falling, and the oil price is not where we want it to be, and FG revenues are shit.

So, at the end, governors take more loans.

That is how it has been....because your average governor like the presidency is scared to go the tax route.

Not tinubu!!

Lithiumite:
Not tinubu!!

Especially tinubu

Also tinubu isn't making our economy productive. That's why he is a bad leader

mankan2k7:
All these useless governo are d problem of Nigeria. They are thieves, bandits and greedy people. We should all go and learn a skill on how to stone them.

But they will keep blaming tinubu for Nigeria's woes rather than take an unbiased look at the level of rot in this country.

Wicked, lying looters!
Loot What is available
Claim Treasury is empty
Justify borrowing
Borrow
Loot what is borrowed
Claim there's no money
Justify borrowing
Borrow
Loot
......and the orchestra goes on!

nairalanda1:
Especially tinubu

Also tinubu isn't making our economy productive. That's why he is a bad leader

How do you get an economy productive if not by removing the barriers that has been holding it down.

Fuel subsidy and defending the naira to has been a major drain in the economy and the govt is trying to correct this and it's already yielding some results though infinitestimal.

The naira has found it's real value where it is at against the dollar because govt have refused spending our scarce resources defending the naira to the benefit of the rich who would buy and import everything and anything.....the main reason your naira is doing poorly is the unbridled demand for dollars.

Fuel subsidy is been removed and the govt not wanting to use scarce resources providing cheap petrol that benefits the rich more,u now buy what you use and use efficiently,no more wastage.

"..money saved by emilokan from fuel subsidy..will increase the foreign reserves..which will be used for development looting"..

-BATists

you blacks dont understand what you are playin with....

when amelika politicians can gather a debt of over 20 trillion dollars than you should know what awaits you too....
shebi una wan copy amelika by fire by force....

ajiu124:

https://www.youtube.com/watch?v=P-8pT965K6I


https://www.youtube.com/watch?v=k2ggOJsSBpE



https://www.youtube.com/watch?v=avJKcaIYZb0

But what has these Videos got to do with the thread?
Some people are behaving like a baby.........

jaxxy:
Governors that borrow should be audited by external auditors.

u keep borrowing and nothing to show for it?

Who will authorize the auditing in a highly corrupt government of Nigeria

Lithiumite:
Not true ....Nigerians are stoic agitators with wanton entitlement mentality.

The engine room of the economy is AGO and gas which all industries that are the major drivers of any economy rides on......subsidy has long been removed from these and heavens haven't fallen.
All you need do is adjust yourself with modern work techniques that doesn't require you having to head out of your environ everyday....many organisations now adopt work from home schedules that has been proven not to affect productivity in anyway.

Shared transportation is being adopted by many which has lead to less environmental pollution,less stress on transport infrastructure and more efficient use of energy.......i drive my car less as there is less need to move around and I can leave without noisy generators as there is renewable energy alternatives.

Nigerians have entitlement mentality? For a government who swore by the constitution to provide the basic amenities in other to complement their own interests? Are you even thinking?

The Nigerian government is suppose to be taken to The Hague for war crimes against humanity for our living conditions!

nairaman66:
Nigerians have entitlement mentality? For a government who swore by the constitution to provide the basic amenities in other to complement their own interests? Are you even thinking?

The Nigerian government is suppose to be taken to The Hague for war crimes against humanity for our living conditions!

No govt would go bankrupt in trying to provide amenities for it's people.....pms isn't even one of those basic amenities.

History is replete with many govts that have fallen for trying to provide what it can't afford.venezuela,Greece,Zimbabwe, Mubarak's Egypt,Sri Lanka etc,now tell me if this countries are any better than they were pre crisis.

The govt cannot keep subsidising petrol for you because it causing undue strain on the economy $25 billion monthly is too huge a bill to pay monthly.

Lithiumite:
No govt would go bankrupt in trying to provide amenities for it's people.....pms isn't even one of those basic amenities.

History is replete with many govts that have fallen for trying to provide what it can't afford.venezuela,Greece,Zimbabwe, Mubarak's Egypt,Sri Lanka etc,now tell me if this countries are any better than they were pre crisis.

The govt cannot keep subsidising petrol for you because it causing undue strain on the economy $25 billion monthly is too huge a bill to pay monthly.

What amenities can you outline since the APC came onboard?