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Nigerian States Return To Borrowing Despite FAAC Windfall - Business (2) - Nairaland

Nairaland ForumNairaland GeneralBusinessNigerian States Return To Borrowing Despite FAAC Windfall (6459 Views)

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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:
This forum and all other fora know you as a clown and nobody takes you seriously.

Go to the comedy section and play over there abeg.
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 cry
Re: Nigerian States Return To Borrowing Despite FAAC Windfall by Princedapace(m): 3:09pm On Apr 03
Amalekki:
Many have been saying it repeatedly for years. No excuse for federal government failures but a larger share of your focus should be on your state government. These are 36 units of government with enough funds to make some impacts but most of them turn themselves to traditional rulers the moment they hit the governor's lodge.

Face your governors! Achievers aim for the low hanging fruits first.
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:
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.
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:
If a pig called you dirty will you be angry?

No flatter yourself.
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:
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 OAFMods: 3:17pm On Apr 03
Especially in Abia n Enugu.

Racoon:
Despite the improving statistics, living standards have continued to deteriorate. Inflation over the past two years has eroded purchasing power, leaving both low-income households.

The once-resilient middle class struggling. Basic necessities, particularly food and energy, have become increasingly unaffordable. Government of liars, deceivier and pripagandists
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:
https://businessday.ng/pro/article/nigerian-states-return-to-debt-markets-as-domestic-borrowing-hits-n4trn/
Outrageous shocked
These are mostly the states with resources being used as collateral.

Who do these states borrow money from, please huh
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:
They will now embezzle with reckless abandon because they have all joined the party that shields criminals.

Not surprised.
Re: Nigerian States Return To Borrowing Despite FAAC Windfall by Elusive001: 4:21pm On Apr 03
Amalekki:
Many have been saying it repeatedly for years. No excuse for federal government failures but a larger share of your focus should be on your state government. These are 36 units of government with enough funds to make some impacts but most of them turn themselves to traditional rulers the moment they hit the governor's lodge.

Face your governors! Achievers aim for the low hanging fruits first.
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:
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?
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:
What is Governor Sheriff Oborevwori of Delta state doing with huge FAAC allocation.

He is just building flyover and road network.

He is not building Independent power plants, Deep Seaport or establishing factories to promote employment.

DELTA STATE IS NOT SUPPOSED TO BE IN THE LIST.

The state is not achieving progress.
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:
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
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:
Tinubu has infrastructural target that he is running to meet because of a trilion dollar economy proposal
Please stop this tomfoolery of yours
Re: Nigerian States Return To Borrowing Despite FAAC Windfall by 1144AK(m): 6:43pm On Apr 03
Princedapace:
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?
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:
tinubu is the biggest fraud ever.

These governors are only following in his foot steps.

tinubu claim that his government has saved trillions of naira yet he has borrowed more than buhari did in his entire 8 years and this tinubu will be 3 years in government on may this year.

now this governors claimed that the reason they followed tinubu is that he increased FAAC yet they are still borrowing recklessly.
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:
grin He did it in Lagos

He tamed the Atlantic ocean

We still need his brain and not his body
This cracked me up real hard.
If this lagos miracle worker win 2027
Bwe go tire from his miracles o
He he
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