₦airaland Forum

Yet Nigeria remains the Keke capital of the world.

Apart from recent initiatives from States like Enugu, no state has mass transportation intra-state buses that are fully air-conditioned.

Nigerians still commute in horrible buses that are not fit to commute animals going to the slaughter, in other climes.

In Lagos, while using a public transport from CcMS to Ajah, I almost suffocated in one contraption that they call bus, operating from a government motor park.

Nigeria is far gone.


More money to the states means more money to the governors' pockets.

Rindo69:
FAAC jamboree!

Removed subsidy and increased allocation to state governors which they use for flyovers and payment to their god fathers with little impact on the citizens.

The clueless one in Ondo State is not even building a single flyover in the state capital. The incompleted one he met is literally abandoned.

He is only using the state money doing jamboree with his cronies. No major developmental projects, only the refurbishment of old roads.

Ondo State has entered one chance with anini on the driving seat.

Ofunaofu:
Compare the naira value of the so-called largest-ever FAAC allocation today to what it was before Tinubu 'grabbed it, snatched it, and ran away with it,' and you will realize the enormous and monumental damage Tinubu has done to the economy of this nation.

Keep wailing. The state governors are happier than before. They couldn't execute projects before but they are doing them now. Some of them owed close to two years salary areas to workers but they are paying as and when due now.

So please go ahead and answer your yourself. In my life time this is the period that I have seen the worst type of politics and opposition in Nigeria. I hope that Nigerians will be wiser else we will make a terrible political mistake.

I am in the hope that the opposition, labour, Atiku and Peter Obi will see this and hold the Governors to account for the huge sums they now receive from the Federal Government.

They step up the taxes/revenue drive and then share it among themselves.

The billions only stop at the LG level and then goes into bogus contracts, adminstrative fees, official cars and what not. Salaries still remains unpaid and healthcare inadequate.

What's the real value of this so called " highest ever allocation...", compared to other administrations

mrvitalis:
Less than 1.5 billion dollars per month as a nation of 200 million people is shameful

It means that we are either not productive enough or our earnings are low or our population has a lot of unproductive component. A lot is honestly required to realign Nigeria and not politics of condemn all.

mrvitalis:
You think VAT is the only way to generate revenue

No, VAT is the only way you contribute to the center and from the records, your state is one of the lowest It means your state's productive activities is poor.

mrvitalis:
Less than 1.5 billion dollars per month as a nation of 200 million people is shameful

You see that money as your mugu mind dey tell you say e small, if just 20% of it is spent on meaningful projects with honesty, you'll see true progress in this country.

That's the plan. Disinherit the poor, and share among politicians. Ain't seen nothing yet.

Vision101:
Keep wailing. The state governors are happier than before. They couldn't execute projects before but they are doing them now. Some of them owed close to two years salary areas to workers but they are paying as and when due now.

So please go ahead and answer your yourself. In my life time this is the period that I have seen the worst type of politics and opposition in Nigeria. I hope that Nigerians will be wiser else we will make a terrible political mistake.

You say this is the worst opposition you've seen? It's obvious you were a toddler or conveniently forgetful during the Goodluck Jonathan era when Tinubu and the APC weren't just criticizing they were threatening to form a parallel government, demonizing everything and everyone, fueling protests, and actively sabotaging governance for political gain. That was opposition taken to dangerous extremes, not the measured criticism you're whining about today.

And as for FAAC allocations, yes, they're larger now in naira terms, but basic economics should’ve told you that printing more naira or claiming that there is more revenue and letting the exchange rate crash doesn’t mean we’re richer. In dollar terms, those 'jumbo allocations' are barely worth half of what they used to be. That’s not growth it’s inflation, devaluation, and economic vandalism.

As for the Governors being are happy? Of course, they are they're cashing out in naira while the poor are being crushed by the cost of food, transport, and rent. If you're defending this disaster, then you’re either benefitting from it or too blind to see the bigger picture. Either way, Nigerians are not stupid. We see the damage, and no amount of propaganda can hide it.

michoim:
What's the real value of this so called " highest ever allocation...", compared to other administrations

Compared to other administrations, tell us the debts the states were owing and how many projects they did in their states. Even to pay the 18,000 minimum wage back then na war. Dey deceive yourself.

SarkinYarki:
Convert these figure to dollars and you will see they are decieving you...These clowns trigger the 10x devaluation and start bandying tissue paper values as progress ..Factor in devaluation and inflation and you will see this might be worse than every single month under Buhari or Jonathan

Mr converter please convert the amount to your favorite dollar and show in one month that the regimes that you mentioned earned above what is reported here.

Pls you don’t have anything reasonable to say

Ofunaofu:
Yes, you say governors are happy with FAAC ‘increases’ in Naira. But when you convert to dollars or even adjust for inflation, those ‘increases’ are partially or largely swallowed up by the Naira’s loss of value.

For example, in Feb 2024, FAAC was about N1.15trn, which was roughly $790 million at N1,455 to a dollar. Now, N1.818trn is about $1.19 billion at N1,526 to a dollar that’s an increase, but nowhere near the 2 to 3 times Naira gains you people hype. Much of what seems like progress is just currency devaluation.

Also, despite nominal increases, states & FG are borrowing more and more because inflation has eaten into what those Naira can do. Salaries, debt service, imports these still cost more in foreign currency, so more of the revenue is drained just to keep basic services running. So yes, there's more Naira, but its real power is far weaker.

If FAAC allocations had stayed the same in real dollar value, or even risen modestly, maybe people could praise it. But when you see how much value has been eroded, it becomes clear the damage from devaluation and inflation under the current regime is serious and worse than under Buhari or Jonathan in many respects

elitper:
That's the plan. Disinherit the poor, and share among politicians. Ain't seen nothing yet.

But back then, una still dey complain, didn't you?. Is there any administration una no dey complain?. Even when Government still dey pay subsidy, una still dey queue for filling station for 2-3 days, sometimes for weeks ontop fuel scarcity. You people dey very ungrateful.

yarimo:
That of Abia state will soon syphoned everything without any meaningful project in reality

Empty human with just a laptop and 30k monthly stipend. O ma se ooo

Ofunaofu:
Yes, you say governors are happy with FAAC ‘increases’ in Naira. But when you convert to dollars or even adjust for inflation, those ‘increases’ are partially or largely swallowed up by the Naira’s loss of value.

For example, in Feb 2024, FAAC was about N1.15trn, which was roughly $790 million at N1,455 to a dollar. Now, N1.818trn is about $1.19 billion at N1,526 to a dollar that’s an increase, but nowhere near the 2 to 3 times Naira gains you people hype. Much of what seems like progress is just currency devaluation.

Also, despite nominal increases, states & FG are borrowing more and more because inflation has eaten into what those Naira can do. Salaries, debt service, imports these still cost more in foreign currency, so more of the revenue is drained just to keep basic services running. So yes, there's more Naira, but its real power is far weaker.

If FAAC allocations had stayed the same in real dollar value, or even risen modestly, maybe people could praise it. But when you see how much value has been eroded, it becomes clear the damage from devaluation and inflation under the current regime is serious and worse than under Buhari or Jonathan in many respects

But you just wrote up there that we don't spend in dollars, in order not to see anything in this FAAC shared, you had to control in order to increase your wailing. Please continue wailing.

Nigerian governors are now very Rich because they will now add local government funds to their own and embezzle everything together while the local government chairmen go just sit down and look them.

Tinubu and the people running this economy will just be using pointless stats to deceive you people. What's the point of celebrating increase in income, when the purchasing power of that increased income is far lower than that of the old income.

Some people are sad, very sad.

Your analysis is good. But you should recall that Dollar was subsidised with Naira(loan) at that time. The $1.48billion dollars is net. That means there is improvement.

Ofunaofu:
I understand the excitement about the $1.48 billion figure, and yes on the surface, it sounds impressive. But it’s important to put things in proper context.

Nigerians don't spend dollars, we spend naira.

FAAC allocations are now hitting N1.5 trillion not because the economy is booming, but largely because the naira has lost so much value. A few years ago, N700–N900 billion translated to more value in real terms because the naira was more stronger and have more value and inflation was much lower.

So while it may look like more money is being shared, the purchasing power has dropped significantly.

In short, a high allocation in naira isn't necessarily a sign of economic health especially when it's driven by currency devaluation and inflation. It's important we look beyond the headlines and assess the real impact on the lives of ordinary Nigerians.

plantist:
But you just wrote up there that we don't spend in dollars, in order not to see anything in this FAAC shared, you had to control in order to increase your wailing. Please continue wailing.

nobody is saying we ‘spend in dollars’ but Nigeria doesn’t exist in a vacuum. Our economy is heavily import-dependent fuel, machinery, medicine, even food all priced in dollars. So when the naira weakens, costs skyrocket, and state governments' ability to fund real projects shrinks, even if the FAAC numbers look bigger on paper.

Ofunaofu:
Compare the naira value of the so-called largest-ever FAAC allocation today to what it was before Tinubu 'grabbed it, snatched it, and ran away with it,' and you will realize the enormous and monumental damage Tinubu has done to the economy of this nation.

Shut up already....
Your concern now should be that the recipients should use the money for what the money is meant for....

Did they give them the money in dollars??

Na dollars dem dey use for local government??

The money is meant to develop the society starting from the grassroots....

It should be used for that purpose and that purpose already....

mrvitalis:
Less than 1.5 billion dollars per month as a nation of 200 million people is shameful

Na people like u still deh cry about taxes... And now u dey lament say them dey share less than 1b dollars per month...

U don't want to pay tax..
U don't want them to remove subsidy
U don't want them to borrow...
How them wan take get this 1b dollars share??

Do you even know anything at all? Government decided to stop paying few people to run business on fake life naira, how has naira being useful ever since? As a nation what value does the naira actually bring before? We are paying to make naira strong when it actually not strong, how many Nigeria products cross our borders before? Your only knowledge of economy is low exchange rate but you aren't asking yourself if it worth it or not? It's just like seeing to the welfare of a jobless boy with wives and children when he's not actually doing enough for himself & when you decided to stop and make him to actually be responsible for himself solely you should be accused of making him to be responsible? I don't really understand you people

SarkinYarki:
Convert these figure to dollars and you will see they are decieving you...These clowns trigger the 10x devaluation and start bandying tissue paper values as progress ..Factor in devaluation and inflation and you will see this might be worse than every single month under Buhari or Jonathan

Not really benefiting to the general public.
Naira value is very poor
Purchasing power of the people is so much bad 👎
The money is being stolen back by the political class through white elephant projects and flamboyant lifestyle.
God help us

While this is laudable, the federal government should create a mechanism to track the expenses of each state after allocations have been given and it should be an open resource readily made available to the public...
If the government gives a local government chairman 100b for example.... The chairman owes transparency to the people on how the money was used....

We can't keep having such huge sums of money allocated to people without traceability and accountability....

And for those of you lamenting about how the money is small in dollar terms.... What exactly do u want

Pay taxes... No
U don't want them to borrow
U don't want them to remove subsidy...

So how exactly is a government suppose to run a country of over 250m people?

At this stage of our lives.... What we should be crying for as a nation is to make sure we get value for money...

If I'm paying taxes... I should see the benefits in the society.... Good roads... Good health care centres... Pipe born water, adequate security... Etc....

We should also know how the allocations to these governors are spent to ensure a better quality of life for the common man....

We can't keep blaming the president all the time...

Yes he has his short comings but attacking him always and leaving out the governors and local government chairmen is simply giving them the permission to keep looting while ur attention is fixed on the president alone...

If the Nigerian people are dragging the governors and local government chairman in the same way they are dragging the President... Everybody for Don sit up....

Nigeria will be great again but it's only when we push for a better people as well as a good government....

Ofunaofu:
Compare the naira value of the so-called largest-ever FAAC allocation today to what it was before Tinubu 'grabbed it, snatched it, and ran away with it,' and you will realize the enormous and monumental damage Tinubu has done to the economy of this nation.

SIM pack was 36k before. It costs less than 1k now

Charbliss90:
Do you even know anything at all? Government decided to stop paying few people to run business on fake life naira, how has naira being useful ever since? As a nation what value does the naira actually bring before? We are paying to make naira strong when it actually not strong, how many Nigeria products cross our borders before? Your only knowledge of economy is low exchange rate but you aren't asking yourself if it worth it or not? It's just like seeing to the welfare of a jobless boy with wives and children when he's not actually doing enough for himself & when you decided to stop and make him to actually be responsible for himself solely you should be accused of making him to be responsible? I don't really understand you people

When Nigeria was paying for the Naira GDP was 500 billion dollars , inflation single digit GDP per Capita 3000 dollars , top 5 fastest growing economy on earth , but now that your Tinubu has come GDP 180 bn dollars , inflation high double digits , GDP per Capita 800 dollars , one of the worst performing economies on earth ..

You can keep deceiving yourselves but the day doesnt lie

It’s nominally bigger but not in value
Convert this to dollars and convert all previous allocations to dollars and purchasing power

kabillion:
SIM pack was 36k before. It costs less than 1k now

Na Tinubu make Sim pack cost less than 1k?