₦airaland Forum

YerYer:
Sometimes the federal government needs to step up and attempt to resuscitate the economy. Bailouts aren't anything new, more advance societies have used them and will continue to use them in this volatile economic world. U.S feds bailed out major financial, manufacturing and insurance companies after the 2008 recession. China also pumped billions of dollars into its economy during the same period and is even doing so right now as it's economy is crashing. These are last minute attempts to revive the economy. In as much as it comes at the expense of every other tax payer, the result of not bailing out states like Osun can be dire and will affect the nation's economy as a whole.

I do agree that there should be more thought applied into bailing out defunct states governed poorly by mismanagement. And Nigeria as a whole needs a well defined economic stimulus plan like most advanced countries instead of this patching-tire-economics being displayed.

BraniacX:
Your logic is faulty

These governments bailed out industry's and key economic sectors not munincipal governments and political office holders, it is a fact that government is this nation's biggest employer and our civil service is overbloated so bailing out these banana republic states is not acceptable and should not be compared to other economic bailouts of forward thinking countries, those bailouts saved industries and created jobs which will pay taxes back to the government plus in certain bail outs the government assumed majority stakes in the companies which were later sold out to private investors when the companies became profitable again recouping money back for the government, so how does this stupid bailout that perpetuates our bloated civil service compare to the rest? Take in case greece who faced and still faces economic depression/bankruptcy, the bailouts being given to them is/are attached to stringent conditions like slashing pay, slashing public service workforce, slashing expenditures among other austerity measures so tell me what conditions buhari attached to this stupid bailout of his? Apart from this bail out being populist, what else is right about it economically and financially? And as ecetera said, this sets a bad precedence for the country as states who were meeting up with their responsibilities will feel cheated now because truth be told, why would I want to work and/or be financially prudent if you can sit lazily around and/or be financially reckless if we both end up paying our bills and be debt free together?

PMBfirstson:
Mind you......
Taaaa. Its called freedom of speech. This is democracy
















This is not GEJ that you talk to anyhow!!!

PMBfirstson:
You guys just have to bear with us till 2023....



Or make una go hug transformer!!!