₦airaland Forum

Adeosun honestly isn't doing enough 2 d estimation of any sane mind,d President isn't handling d economy of d nation,but I have always said this succinctly Nigeria's biggest leadership problem is the State Governors.
Period

thereturnoflucy:
The Minister of Finance, Mrs Kemi Adeosun said the Federation Account Allocation Committee (FAAC) shared N400 billion which is N13.1 billion more than what the three tiers of government shared as revenue in December.

She said the N400 billion was distributed under four distributable sub-heads.

They are statutory allocation where the sum of N224.88 billion was allocated; Value Added Tax N79.27 billion, exchange gain N52.84 billion and excess Petroleum Profit Tax N42.99 billion.

From the statutory allocations, the minister said after deducting cost of collections to the revenue generating agencies, the Federal Government got N105.76 billion, states N53.64 billion and local government councils N41.35 billion.

In addition, she said the sum of N15.5 billion was given to the oil producing states based on the 13 per cent derivation principle.

For VAT allocation, Adeosun said the Federal Government received N11.4 billion, states N38 billion while Local Government Councils got N26.63 billion.

Adeosun said that the Federation generated N145.6 billion as Mineral Revenue and N103.1 billion as non-Mineral revenue.

The minister said the excess crude account now has a balance of $2.45 billion.

Adeosun said that the Force Majeure at Forcados, Qua Iboe and Brass terminals was still impacting negatively on revenue generation.

For instance, she said there was revenue decline of 65.4 million dollars in oil export sales due to a drop in production volume of 1.39 million barrels.

Also, the Chairman, Forum of Finance Commissioners in Nigeria, Mr Mahmoud Yunusa, said that states were determined to keep improving their internally generated revenue.

“Low federation revenue has become a blessing in disguise to us. Initially almost all the states relied heavily on FAAC.

“But now, because the money is no longer there, it has forced us to look inwards at the opportunities and potentials in our respective states and begin to explore them.

“We had to look at cutting cost in running governance and blocking all revenue leakages’’,. he said.

Yunusa said that most of the states have been able to improve their IGR through improved tax collection method and increased tax base.

http://www.kikiotolu.com/2017/01/federal-government-states-n131b-richer.html

True federalism does not exist in Nigeria. State governors are not proactive in seeking ways to better the finances of their states but sit idly by, waiting for the monthly allocation which they misappropriate anyways.

Government of flamboyant 'talks' and withered 'Actions', let's see how Trump America demonstrate 'real actions'- Congratulations to President Trump!

And my company is still being owed by my state.......gov has being complaining that there is no money,it seems this is the real voodoo economics.

HonabFaj:
Seriously, the FG is trying it's best
The state government has to do more, they need to help the Federal government out, at least they are getting their allocations what are they doing with it money.
400 billion Naira, 13.1 billion increase and an extra 15.5 billion Naira to the oil producing states.
Haba haba
What happen now
Where are all these money going to

by standard, state in nigeria should be able to generate sometin not less dan N400 billion per month with ease for economic development. but becos we live in a cesspit wia "gather n share" is d economic structure, 36 states in nigeria have to gather in abuja to share mere N400 billion. wat is N400 billion ~ $1.1 billion wen states in advance societies generate more dan 1 billion dollars a month n nigerian govt is celebrating N400 billion as an achievement
dis con3 is a HUGE disgrace to humanity.

This woman only makes me feel Hot.... dazzol

Calling a President a fool? A 70+ old man? God, where is our manner?

Paulpaulpaul:
And one old f**l who called himself the constituted authority said there is no money.

Blue3k:
States are very bad at budgeting. It doesn't matter how much you make if they can't plan well.

Very true. There years ago, I analysed the budgets of the 36 states and 774 LGS. I can tell you that 3/4 of the budgets were absolute rubbish!! They take the previous year's budget and mark it up by some percentages and present it as the annual budget. The figures barely added up..you try to total the sums of the various expenditures and it is different from the sum on the summary page. Some state budgets were edited by hand!!! Local Governments? That one was worse. Total rubbish

Burger01:
Adeosun... Smh

the only she can do is to speak phonetics, as if na DAT on we go chop

Idrismusty97:
Of all the posts here na only the one with MMM you fit quote. The word MMM alone gives some people hardon.

Sorry for your loss bro, but you were warned before now. Anyway the dog that will get missing never hearken to the voice of the hunter.
Of all the posts here? My guy you said something that warrant reply as it is a statement of frustration

obataokenwa:
Where will the 6trillion Naira 2017 budget come from from all this peanut been shared every month. Osun state will thank God Atleast revenue increase cos they're not adding a dime to the whole nation. there is even a place called Zamfara, Yobe, Kebbi, Adamawa, Kwara. What the hell are they adding to this nation to deserve oil money.

I tell you bro, those states are nothing but a bunch of parasites and liabilities, all they are good at is to collect monthly oil money while breeding almajiris like rabbits. God punish Lugard wherever he is for merging us with these guys.

Keep sharing money, clearly it works well...

drss2:
by standard, state in nigeria should be able to generate sometin not less dan N400 billion per month with ease for economic development. but becos we live in a cesspit wia "gather n share" is d economic structure, 36 states in nigeria have to gather in abuja to share mere N400 billion. wat is N400 billion ~ $1.1 billion wen states in advance societies generate more dan 1 billion dollars a month n nigerian govt is celebrating N400 billion as an achievement
dis con3 is a HUGE disgrace to humanity.

But apart from this Federal allocations, States still have their internal generated incomes
At least they should spend it wisely, why can't they pay people salaries

rikamann:
Calling a President a fool? A 70+ old man? God, where is our manner?

Which president? Get your fact right please

rhektor:
You are trying to justify your MMM scam or you are trying to console yourself. Either way, you are just being a bit naive

I am no Mavrodian bros. I don't do guess work.

rhektor:
Sorry for your loss bro, but you were warned before now. Anyway the dog that will get missing never hearken to the voice of the hunter.
Of all the posts here? My guy you said something that warrant reply as it is a statement of frustration

Be creative. Say something that hasn't been said before.

Who collects local government allocation

and we still don't have light

“We had to look at cutting cost in running governance and blocking all revenue leakages’’,. he said.

This has been her greatest achievement so far. Something Ms. Iweala was trying to do, but systemic corruption wouldn't allow it.

Please all the constituted authorities in Nigeria should pay their workers.

LordAdam7:
It is very shameful that the only updates we hear from this woman is how much money she released to states. If that's the only thing we need a Minister of Finance for, we should just replace her with a high school graduate.

Till date, she has said nothing about the progress of the supposed fiscal blueprint they are supposed to give potential lenders to secure the loans they need to fund the budget, MTEF, and re-position the economy.

Earlier this month, the AfDB president was saying the bank was holding back the second tranche of the loan they're meant to give us because they've not heard back from Nigeria. This is an Adesina that single-handedly convinced the bank to give us a $1b loan when China and the IMF were playing games with us, and he even put his job on the line to give release the first part of the loan on recognition bases. Now, he is the one begging Nigeria to forward our fiscal plan.

And you wonder for something so important, this madam Queens has said nothing about it. Whereas it's supposed to be our #1 priority.

She has not devised ANY fiscal policy for any sector in Nigeria more than 1 yr after she was appointed. Not one. The Rice revolution is currently being spearheaded by the CBN.

What is the Finance Minister doing there? Or does she think her job is solely to find who to give money in Nigeria? Because she go see plenty people.

She said she released N800b abi is it N2t into the economy in 2016. My people, did you feel the money? When there is no co-ordination, plan, or policy; that's how she'd just be throwing money away until 2019.

-Lord

In short she's just a cashier not finance minister?

I agree with you totally.

Cashier wey go polytechnic speaking cockney like a British tout...FFK Na my guy abeg!

Pavore9:
And many States are still owing salaries of many months

DUE TO WICKEDNESS & GREED.

chriskosherbal:
I just want to see the huge FIGURES translated into economic development for the average Nigerian to have a feel and taste of it.

We should all stop directing all our complain at FG, The states have been taking allocation from FG, What have they been doing with it to improve the life of their people...

Like Ekiti have been taken over 2billion in Allocation monthly and i don't know why they are owing workers then. Same goes to Bayelsa, Imo, Abia etc..

We know Osun allocation have been badly cut down due to loans they accrued during the first term of Aregbesola..


We need to start holding our Governors responsible too..

Pavore9:
And many States are still owing salaries of many months

Bro i wonder ooo and people are still shouting FG everytime, most of those states are just milking their people and blaming it on FG..

darocha1:
Aunt, biko just shut up

Why? He should no let people know how much various states collect abi? So una go fit embezzle money come dey put blame on FG..


Transparency is the koko for now, Ride on jare my Hon minister..

ephi123:
Meanwhile Bubu is chilling in London

"Richer in December indeed"
FG, States richer but citizens poorer.

Hold your state and Local Government responsible for once, Why depend on FG and keep blaming FG everytime why state Government keep getting and pocketing their allocations..

APCmyheart:
Hold your state and Local Government responsible for once, Why depend on FG and keep blaming FG everytime why state Government keep getting and pocketing their allocations..

Yes hold them responsible, like Buhari is holding himself accountable by traveling to London while asking his citizens to promote Made in Nigeria, right?
Leadership starts from the top.

LordAdam7:
It is very shameful that the only updates we hear from this woman is how much money she released to states. If that's the only thing we need a Minister of Finance for, we should just replace her with a high school graduate.

Till date, she has said nothing about the progress of the supposed fiscal blueprint they are supposed to give potential lenders to secure the loans they need to fund the budget, MTEF, and re-position the economy.

Earlier this month, the AfDB president was saying the bank was holding back the second tranche of the loan they're meant to give us because they've not heard back from Nigeria. This is an Adesina that single-handedly convinced the bank to give us a $1b loan when China and the IMF were playing games with us, and he even put his job on the line to give release the first part of the loan on recognition bases. Now, he is the one begging Nigeria to forward our fiscal plan.

And you wonder for something so important, this madam Queens has said nothing about it. Whereas it's supposed to be our #1 priority.

She has not devised ANY fiscal policy for any sector in Nigeria more than 1 yr after she was appointed. Not one. The Rice revolution is currently being spearheaded by the CBN.

What is the Finance Minister doing there? Or does she think her job is solely to find who to give money in Nigeria? Because she go see plenty people.

She said she released N800b abi is it N2t into the economy in 2016. My people, did you feel the money? When there is no co-ordination, plan, or policy; that's how she'd just be throwing money away until 2019.

-Lord

She needs to read this and go have a serious think about whether she even knows her work at all.

Mediocres in the corridors of power.

Idrismusty97:
Be creative. Say something that hasn't been said before.

You really want to hear what you've never heard before? Go do what nobody has done bro

Sibrah:
I am no Mavrodian bros. I don't do guess work.

Whatever ndo, pẹ̀lẹ́, sanu