Nigerian States Return To Borrowing Despite FAAC Windfall - Business (2) - Nairaland
Nairaland Forum › Nairaland General › Business › Nigerian States Return To Borrowing Despite FAAC Windfall (6461 Views)
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by gigabyte13: 3:01pm On Apr 03 |
Na blood e dey Even FG still dey borrow If borrow borrow dey your blood No matter the money you dey earn You go sha borrow ni |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by Hmmmmm2024: 3:04pm On Apr 03 |
Removal of subsidy was a bigger scam than the subsidy itself |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by HacheNoire: 3:07pm On Apr 03 |
Tenses:My sincere apologies for hitting so hard at you. At some point, I never knew it could cause you much devastation, trauma, agony and pain. I was just trying to let you know that your point of view exonerates His Excellency, President Asiwaju Bola Ahmed Tinubu (GCFR) from the reckless spending of the states. |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by dalass(f): 3:07pm On Apr 03 |
Dem thieving governors cannot resist the temptation of borrowing dollars only to steal and put in foreign accounts while their innocent people pay for years. Their generation will suffer for the atrocities... Amen |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by Princedapace(m): 3:09pm On Apr 03 |
Amalekki:I dont know why some of u fail to understand this. Bro, it is hard to hold these governos accountable. Ordinary local govt chairman, u cant. These guys are protected by FG mights and they brag about it. This is why all governors are always trying to be in the good books of the FG and not the good book of the masses under them. Take a look at edo state, the governor no send his citizens. he just wants to be in the good book of Tinubu, they all ass lick him. Look at ur national assembly, the same thing. The judiciry, the same thing. Do u know why? the FG is too powerful. That is not supposed to be. The FG is richer than the entire states combined. That is not supposed to be. For states to be truly held accountable, end the era of FG spoon feeding state governors and let states work haard for their money and spend it in their domain. If we dont fix these core issues, we are wasting our time. Many states do nothing both human capital wise and orderwise and still get FG allcations every month and the governor will use the money to buy endless properties. This is why I am against the foolish tax. Like, Nigeria hasnt fixed her core foundamental problems and u are talking of tax. Are we mad or what? |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by Tenses: 3:13pm On Apr 03 |
HacheNoire:If a pig called you dirty will you be angry? No flatter yourself. |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by HacheNoire: 3:14pm On Apr 03 |
Tenses:Hey ya! You are now humble. |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by Amalekki: 3:16pm On Apr 03 |
After all said and done, 1. based on my post that you responded to, are you saying people should not call out their state governors? 2. Is your post a justification for poor performance and engaging in getting more foreign loans by state governors? Princedapace: |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by OAFMods: 3:17pm On Apr 03 |
Especially in Abia n Enugu. Racoon: |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by victoryenergy: 3:21pm On Apr 03 |
This is the main reason why many governors are decamping to APC, to borrow without being checked, because they have the backing of the central government. and also rig themselves easily into power. may God help this country. |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by demstone: 3:23pm On Apr 03 |
I SWEAR MANY OF UNAH NO GO SCHOOL STATE DEBT REDUCED FROM 5.8TRILLION TO 3.8TRILLION DEN WENT UP SLIGHTLY TO 4TRILLION.... GIVING A TOTAL 1.8TRILLION REDUCTION IN DEBT IN 2YRS |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by CodeTemplar: 3:28pm On Apr 03 |
Cc grandstar. How will the system grow when all we do is borrow to reproduce? |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by writeprof(m): 3:53pm On Apr 03 |
Racoon:Outrageous These are mostly the states with resources being used as collateral. Who do these states borrow money from, please ![]() |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by WiseBizInvestor(f): 4:16pm On Apr 03 |
That's my fear... They just keep borrowing and we see the humongous allocation to their offices which eats up signify an % of the country's total budget. And the remaining sef, citizens can hardly see the significant impact of those capital budget allocations. Klington: |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by Elusive001: 4:21pm On Apr 03 |
Amalekki:Did you say this when GEJ was there? |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by boxypane: 4:21pm On Apr 03 |
Hey! Nigerian politicians. And nothing to sure for the FAAC 80% of these states collect. |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by Princedapace(m): 4:28pm On Apr 03 |
Amalekki:I am telling why people cant hold their governos accountable. restructure the system, period. U are giving states free money, they wont use it well. Allo states control their own resource and make their own money. U will spend money that u worked very hard to make compared to how u will spend money freely given to u. As we stand now, FG is richer, FG controls CBN, FG controls EFCC (how will citizens fight governos when governs are loyal to president and president controls police, military, EFCC, even national assembly, judiciary, etc. |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by LZAA: 5:12pm On Apr 03 |
And this is one of Apche..at selling point oh Infact they said it's the reason Otti is delivering in Abia😄 Chai!! The Agbado sifu is truly clueless |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by themanderon: 5:14pm On Apr 03 |
I have always said that you will never understand how this corruption riddled country works. It always defies logic. |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by Charly68: 5:36pm On Apr 03 |
Tinubu has infrastructural target that he is running to meet because of a trilion dollar economy proposal |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by Conservarmy: 5:40pm On Apr 03 |
Lies and propaganda |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by Cum4me(m): 6:09pm On Apr 03 |
wink2015:you're just waking up. The former governor okowa stole over 3 trillion Naira and was forgiven immediately he joined APC. And you expect this current criminal do better. They're all the same. Until the youth wake up against this criminals it will be recycled as usual |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by 1144AK(m): 6:30pm On Apr 03 |
demstone:Don't mind the wailers , they like to cherry pick to fit the skewed narratives in their dvmb brains .... A BusinessDay analysis of state domestic debt profiles, as published by the National Bureau of Statistics (NBS), indicated an aggressive descent from N5.8 trillion recorded in December 2023 to a low of N3.8 trillion in March 2025. However, the report for 2025 shows that the aggregate debt profile of Nigeria’s 36 states and FCT has begun to climb again, hitting N4 trillion by September 2025. |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by Memphis357(m): 6:33pm On Apr 03 |
It takes an extremely wicked and insensitive being to support the administration of Bola Ahmed Tinubu. |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by Memphis357(m): 6:35pm On Apr 03 |
Charly68:Please stop this tomfoolery of yours |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by 1144AK(m): 6:43pm On Apr 03 |
Princedapace:The federal government is doing well in terms of the macro-economy, but the states need to leverage the increased allocations they are receiving. While some states are trying, they ought to do more and be innovative in their approach. The federal government under BAT has done a lot for the macro-economy; now, the states need to extend those impacts to their constituencies. What Nigeria needs is more private innovative industries—it is private innovation, science, and tech that drive countries forward. |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by 1144AK(m): 7:02pm On Apr 03 |
Stop crying "Tinubu" every time and start asking your Governor what he’s doing with the record-high allocations entering his account. Since subsidy removal, FAAC transfers to states have jumped by over 160%, yet many are still 90% dependent on Abuja for every kobo. States like Lagos, Ogun, and Anambra are already hitting high IGR and building infrastructure. If your state is still waiting for a federal "alert" before it can breathe, that is a failure of local leadership, not a macro-economic problem. The money is there—it’s time to hold the states accountable for how they spend it! |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by 1144AK(m): 7:11pm On Apr 03 |
Even if Lagos borrows, they borrow to build trains and bridges that make money. The problem isn't borrowing; the problem is states that borrow just to pay salaries because they refuse to innovate. If Akwa Ibom can jump 17 places by being transparent and hitting 105% of their revenue target, what is stopping other states from doing the same?" |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by gideonvalor98(m): 10:21pm On Apr 03 |
Tenses:See mumu! So whose fault is it? Don't go and hold your Governor accountable |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by emiye(m): 11:00pm On Apr 03 |
And so? It is not necessarily a success if a state does not borrow, in actual fact, it may signify not enough leveraging for productivity. How can states with dearth of infrastructure for the most part state say they are not borrowing. The real question is borrowing to do what? Is it for productive asset? Is the revenue generated from within growing apart from Abuja's feeding milk ?. |
| Re: Nigerian States Return To Borrowing Despite FAAC Windfall by IduNaOba: 11:20pm On Apr 03 |
Karlovich:This cracked me up real hard. If this lagos miracle worker win 2027 Bwe go tire from his miracles o He he |
Unprecedented Windfall As Stock Investors Gain ₦25.7 Trillion In 7 Months • Senate Increases Banks’ Windfall Levy To 70% • Agora Policy: FX Gain Now A Major Source Of FAAC Revenue • 2 • 3 • 4
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He did it in Lagos