₦airaland Forum

adenigga:
Source: https://punchng.com/10-states-plan-n4-3tn-borrowing-to-fund-2026-budgets

Thats the only thing Dey know. Borrow borrow, like their oga at the top.

yet, the states look ugly like scenes from a horror movie. No development.

They only borrow and steal.

Borrow borrow people, nothing for there own Head than to borrowing and looting it

helinues:
They should show us what they have done with the last loans.

State governors should stop mortgaging their state

Same applicable to federal government. Borrow and borrow with nothing to show for it

omoredia:
Nigeria doesn't need a new tax law, we need leaders to make our old taxes work.

Infact I'm surprised people are not hitting the streets yet, you can't be looting with this much impunity and all that comes to your mind is to tax the people the more

Imagine the level of development in these states and correlate it with the loans, grants, and other financial gains they've gotten and you will feel sorry for the populace

Chai…. Make Una sha remain small for other incoming government o

callthefred:
Osun that isn't borrowing before suddenly wants to borrow over 200b in election year? This is interesting.

Why won't he, when the citizens themselves go to anywhere they share peanuts

If we don't do something drastic as a people and change our orientation and doings, I pray we would still have a place to call a country in the near future

Why they borrow

1.Most states don't raise enough money from taxes. That's because most nigerians don't pay tax to the states directly. Tax to gdp in most states, infact in all states does not surpass 4%. EVEN Lagos, which some regard as better at tax than other states , only collects tax to gdp of 3%. Effing riddiculous.

2.States that have natural resources, under the laws that exist, the resources belong to the federal government. Said resources are also being, especially the mineral ones, stolen, with little or no income being remitted to the states or even the federal government (that;s part of the many issues with gold mining in Zamfara for examples.).

LOOTING COMPETITION IN PROGRESS ...... NIGERIA IS FINISHED

omoredia:
Nigeria doesn't need a new tax law, we need leaders to make our old taxes work.

. That exactly what the new law aims to do. Make taxes work

Money wey dem go still
loot😀😀😀😀😀😀

SmartPolician:
There's nothing wrong with borrowing money. Everyone who wants to grow MUST borrow money. For example, Dangote is a billionaire in dollars, but he's still borrowing money.

We should be more interested in transparency, accountability and borrowing money to invest in projects that can repay the loans over time.

How have they accounted for the once they've been borrowing all these years. BORROWING is definitely WRONG for NIGERIAN POLITICIANS.
Let them use what they have to do what they can do!

I thought they said Tinubu gives the governors huge increased allocation/ money....is the increased allocation not enough ?

helinues:
Is it that some of you can't make any logical arguments without blaming FG even if the news is not about them?

How is the news not about them?

These governors have no plans to pay back these loans. They will enrich themselves and their families for life. They hope to also benefit from the new fraudulent tax laws

If these tax laws take effect, we will simply be funding the luxurious lifestyles of these thieving government. Nothing will be done to improve the lives of Nigerians, no infrastructural development and no improvement in the standard of living.

The pains have just started, and Nigerians have not seen anything yet. Ignore all the bots coming online to validate this daylight robbery, they are all paid.

Godfullsam:
How is the news not about them?

Don't mind the clown.

But is Nigeria getting better with debts?
How many Nigerians have been employed in nearly twelve years of APC rule?
How many businesses are doing well?
What is the magnitude of Foreign Direct Investment (FDI)?
What is the strength of naira compared to dollar?