₦airaland Forum

XXLDICK:
they won't use that of your state.
FYI, I'm Igbo and coincidentally you mentioned my name up there

I know, you are 'Igbo' from Igbomina. You are definitely an Igbominan who believes in taking preye, Inobong and Ifeanyi's resources to give to ungrateful and hateful lots in Afonjaland.

omofunaab:
C'mon don't disgrace yourself.

You need to borrow to create infrastructures.
America's economy is one of the best in the world but they have a huge debt profile.

Dangote has huge debts but still the richest man in Africa.

Lagos state with his huge debts still has a better economy than your state.

If you don't borrow to create infrastructures, how then do you intend to improve on your IGR?

The Most important thing about debt is the ability to service it.

Most states in the south west are economically viable to service their debts .

Let me explain

Ogun state borrowed money to construct and expand roads in abeokuta, I mean roads with good drainage system not the roads i saw in the east without drainage ooo.

Now the roads have started generating money to ogun state through parking fees. Most of the buildings in the area has increased in value. So more money for government through property tax .

See, no financial institution will borrow you money if he is not convinced that your economy is viable enough to service it.

All business men borrow. If you an igbo trader selling wares and you want to make more profit, won't you borrow?

There's no crime in borrowing especially when you have a viable economy. only few states in Nigeria can do that. For instance how will a state like zamfara borrow huge amount of money when you don't have a viable economy in place to service the debts . Likewise ebonyi too.


That's why i keep telling people that most south west states don't depend on oyel money for development.. It's mostly foreign loans.

TRASH! It's a shame that you have the guts to defend nonsense. Yoruba states have thieves as governors but you guys keeps defending them, that is one area I like my Igbo people, we don't suffer fools gladly and any governor that misbehaves, will be shamed immediately. Almost all Yoruba states have been embezzled to bankruptcy, even supposed viable states like Lagos &Ogun are not left out. While osun & Ekiti are in a sorry state. while ondo, a supposed oil producing is not left out in the show of shame. Ebonyi state you mentioned is currently very viable with a relatively huge IGR. Same with Enugu & Anambra, its only Abia & Imo that are struggling in the SE. i pray they will Institute true fiscal federalism so we can know the real parasites in this Godforsaken country.

XXLDICK:
I always say this, Lagos has never had a good Governor. Imagine a state with by far the highest IGR and a very high federal allocation with the highest debt.

Kudos to the northern governors for keeping a low debt profile despite having the lowest allocations and IGR

USA is the most indebted nation on earth. If you study economics, you would know that sometimes, having huge debts pays.

MrEverest:
TRASH! It's a shame that you have the guts to defend nonsense. Yoruba states have thieves as governors but you guys keeps defending them, that is one area I like my Igbo people, we don't suffer fools gladly and any governor that misbehaves, will be shamed immediately. Almost all Yoruba states have been embezzled to bankruptcy, even supposed viable states like Lagos &Ogun are not left out. While osun & Ekiti are in a sorry state. while ondo, a supposed oil producing is not left out in the show of shame. Ebonyi state you mentioned is currently very viable with a relatively huge IGR. Same with Enugu & Anambra, its only Abia & Imo that are struggling in the SE. i pray they will Institute true fiscal federalism so we can know the real parasites in this Godforsaken country.

You are an illiterate.

Where have i defended any governor accused of corruption?

The thread is talking about states with huge debts and not corruption.
Or are you saying because America has huge debts then American government is very corrupt because they borrowed?

Okay because dangote has huge debts means he is no more the richest man in Africa?

C'mon use ur brain and don't be ignorant.

If you borrow money because you want to import goods from China, does that also means you are broke or corrupt?

You know nothing about economics

basilo102:
AS LAGOS, OSUN LEAD DEBTORS’ LIST
November 27, 2016 Sanya Adejokun- Abuja Top News

THE debt profile of the country and its component parts has recently come into focus, more especially since most states could hardly embark on any capital-intensive project or pay salaries due to huge domestic and foreign debts.



The South West and parts of South-South are said to be the highest indebted states in the country with Lagos, recently declared sixth largest economy in Africa by the United Nations Development Programme (UNDP), leading the pack with debt profile of at least N368,409,682,283.25.



Debts owed by states are in multiple categories: foreign debt, domestic debt, CBN bailout funds and the Budget Support Facility arranged for them by the Federal Government.



While Sunday Tribune was able to calculate foreign, domestic and bailout funds of states, details of the budget support facility of N510 billion to 35 states was yet to be made available as of the time of filing this report.

Presently, these are some of the heaviest indebted states in the country while their civil servants have not earned salaries for upwards of six months.

Ondo, an oil producing state, earning additional 13 percent derivation fund from crude produced from oil wells located within the state is owing N94,404,105,397.7 debts to various creditors.

Last year, outgoing governor of the state, Olusegun Mimiko disclosed that his government was working with different groups of investors to begin exploration of bitumen available in large quantities and also establish a chocolate manufacturing factory.

The state, aside owing staff salaries, was yet to see the establishment of promised development projects and is owing at least N51,978,164,924.55, according to figures from Debt Management Office.

Also, Rauf Aregbesola of Osun State promised to turn the state into a commercial hub when he was campaigning for office around 2007.

About a year into his administration, he told reporters that he would never wait for monthly allocation from Abuja to settle wage bill.

Presently and despite huge potentials of the state in terms of agriculture, mineral and human resources, civil servants are being paid half salaries which are not even paid up to date.

According to investigation, the state owes N203,151,879,799.5 without the running budget support facility.

Ogun is an aquatic state with all the accompanying potentials.

Available records show that Ogun is heavily indebted to the tune of N126,353,703,792.15.

Ekiti State, aside also depending almost solely on monthly disbursements from Abuja, is owing workers some arrears of salary in addition to Federal Government, other domestic and foreign creditors the sum of N78,938,996,132.51 in debts.
http://tribuneonlineng.com/states-groan-debt-bondage/

These are same set of people(APC)that are now running the Federal government of Nigeria and are also planning to put Nigeria into RED to the tune of 30 Billion Dollars!!!. O bu gini ka anyi ji isi kote?. Fayemi=Ekiti State (Red), Fashola=Lagos State (Red),Finance Minister= Ogun State (Red), Lie Muhammad/Aregbesola = Osun State (Red),Amechi=Rivers State(Red)Oshumole=Edo State (Red)etc

Disneylady:
At least his state is not on debtors' list

really I think u don't read well b4 u quote me

ShootToKill:
I know, you are 'Igbo' from Igbomina. You are definitely an Igbominan who believes in taking preye, Inobong and Ifeanyi's resources to give to ungrateful and hateful lots in Afonjaland.

I'm igbo

XXLDICK:
I'm igbo

Just as i'm spanish.

ShootToKill:
I know, you are 'Igbo' from Igbomina. You are definitely an Igbominan who believes in taking preye, Inobong and Ifeanyi's resources to give to ungrateful and hateful lots in Afonjaland.

I'm Igbo and not a tribalist, so I reason neutrally. you won't understand because you are a bigot.

the Southwest benefits from the oil of the southsouth.
the southeast too benefits from the oil in the Southsouth.
FYI, the southwest has more oil than the southeast

Izen:
USA is the most indebted nation on earth. If you study economics, you would know that sometimes, having huge debts pays.

I know a lot about economics.
you can't compare Lagos to the USA for these reasons;
1) the dollar owned by the USA is sole currency generally accepted as a medium for foreign exchange which gives America the opportunity to borrow unlimitedly.
2) America has the mechanism set to repay back every loan, but you can't say the same for Lagos

omofunaab:
Am talking about roads in abeokuta metropolis.

I know we have lots of abandoned projects in ogun state

Their are more abandoned roads/projects in Abeokuta than any other place in Ogun state

[s]

Standing5:
It is obvious that a new looting pattern has emerged in the SW. It entails borrowing against the projected allocations of your successor and looting the money through questionable projects. I call it preemptive looting.

[/s]

America's indebtedness surpasses any other country, but they still control the world. In finance, there is nothing bad in borrowing so far you have best recovery plan to meet your obligation.

Get it right.

basilo102:
AS LAGOS, OSUN LEAD DEBTORS’ LIST
November 27, 2016 Sanya Adejokun- Abuja Top News

THE debt profile of the country and its component parts has recently come into focus, more especially since most states could hardly embark on any capital-intensive project or pay salaries due to huge domestic and foreign debts.



The South West and parts of South-South are said to be the highest indebted states in the country with Lagos, recently declared sixth largest economy in Africa by the United Nations Development Programme (UNDP), leading the pack with debt profile of at least N368,409,682,283.25.



Debts owed by states are in multiple categories: foreign debt, domestic debt, CBN bailout funds and the Budget Support Facility arranged for them by the Federal Government.



While Sunday Tribune was able to calculate foreign, domestic and bailout funds of states, details of the budget support facility of N510 billion to 35 states was yet to be made available as of the time of filing this report.

Presently, these are some of the heaviest indebted states in the country while their civil servants have not earned salaries for upwards of six months.

Ondo, an oil producing state, earning additional 13 percent derivation fund from crude produced from oil wells located within the state is owing N94,404,105,397.7 debts to various creditors.

Last year, outgoing governor of the state, Olusegun Mimiko disclosed that his government was working with different groups of investors to begin exploration of bitumen available in large quantities and also establish a chocolate manufacturing factory.

The state, aside owing staff salaries, was yet to see the establishment of promised development projects and is owing at least N51,978,164,924.55, according to figures from Debt Management Office.

Also, Rauf Aregbesola of Osun State promised to turn the state into a commercial hub when he was campaigning for office around 2007.

About a year into his administration, he told reporters that he would never wait for monthly allocation from Abuja to settle wage bill.

Presently and despite huge potentials of the state in terms of agriculture, mineral and human resources, civil servants are being paid half salaries which are not even paid up to date.

According to investigation, the state owes N203,151,879,799.5 without the running budget support facility.

Ogun is an aquatic state with all the accompanying potentials.

Available records show that Ogun is heavily indebted to the tune of N126,353,703,792.15.

Ekiti State, aside also depending almost solely on monthly disbursements from Abuja, is owing workers some arrears of salary in addition to Federal Government, other domestic and foreign creditors the sum of N78,938,996,132.51 in debts.
http://tribuneonlineng.com/states-groan-debt-bondage/

Afonjas and borrowing.
The borrowed money has ended up in drug baron Tinubus account

dingbang:
The federal govt should invest in MMM

MMM is not an investment

loswhite:
MMM is not an investment

so what is it?

IgboRulesOthers:
osun


lagos state should hold TINUBU responsible for that huge deBt..mbok




had it been that osun govoenor invested that money he use in building school on COCoA or other industry the dept will not be much.....






u build schools but u cant pay salaries...then what is the use of the school now





i pray osun overcome all this

they don dey start again hmmmm.

kinibigdeal:
The debt profile in the North is worst than this. Fayose left 10billion naira in is first tenure without no single debt and met 78billion debt from Fayemi. I remember he said ''governor's should not borrow beyond their tenure'. Okonjo-Iweala already said it will take 35years for Osun to clear her debt. 345billion debt to Lagos shouldnt be a problem, Ambode can handle that

Why you dey lie shamelessly like this now? Which northern state has debt like those listed? Out of the 19 northern states only few are finding it difficult to pay salary; Bauchi, Kwara, Niger, Kogi and Benue. My state Jigawa for instance hasn't owed any worker a dime and always pays before the month ends.
Go and deal with your debt ravaged states and unpaid workers.

Every state in the North as a huge debt profile except Katsina. Katsina is a little bit fair. Maybe all the state that collected bail out funds in the North from GEJ and PMB need to refund it

EazyMoh:
Why you dey lie shamelessly like this now? Which northern state has debt like those listed? Out of the 19 northern states only few are finding it difficult to pay salary; Bauchi, Kwara, Niger, Kogi and Benue. My state Jigawa for instance hasn't owed any worker a dime and always pays before the month ends.
Go and deal with your debt ravaged states and unpaid workers.

dingbang:
so what is it?

PONZI SCHEME ,NOW BACK TO THE TOPIC

Funkybabee:
really I think u don't read well b4 u quote me

Oh really?

Disneylady:
Oh really?

yea sister

dingbang:
so what is it?

you can Google the site and read on it