₦airaland Forum

raumdeuter:
What did states promise during election? The citizen of the states are suffering oga governor take your excess from faac and use it to provide subsidy

Good roads...timely payment of salary and allowances...schools and healthcare..

These they have done whilst stealing....Oshiomole was able to pull the stunt with allocation of 750b or less.

Doubling their income means they have got no option bit what is the fate of an average man if roads are good but he's unable to feed well .......

raumdeuter:
I wont answer you until you tell me or answer why a State cannot take its own excess money given and use it to provide subsidy for the state people

State during election didn't promise stable 24hrs electricity and dollar/naira rates reduction. ...

raumdeuter:
The point is not about saving from collapse, Its about making them thrive

Its like saying you need 10 spoons of food from not dying and I give you exactly 10 spoons. What it will mean is that you wont die but not like you will function like you are meant to

This is not the case..


We were receiving 10 spoons(750b)...now statistics shows we will be given 20 spoons(1.5tr) and still have 400b left to encourage the masses since the failure of 24hrs electricity

raumdeuter:
What general use? Subsidy money has been given to each

Since morning you havent told me what stops individual state gov from using their own excess share to subsidize their own state fuel consumption

Weren't we better of with the 400b subsidy fund


Is 1.5tr not enough as against the previous FAAC?

raumdeuter:
How is 400bn negligible? How many percent of the increase is 400bn that makes it neligible

I believe you understand my stand and just trying to twist it...
Sorry i used the negligible adjectives....

Here,the 400b isn't what is responsible for the collapse you were forecasting....

raumdeuter:
What is wrong with giving them the money and they use for whatever dey pain each state pass

We are saying same thing...give them the 1.5tr....put the 400b in general use which have direct impact on price of commodities as well as our day to day activities

raumdeuter:
400bn is not meager How many states in the entire country have a budget of more than 400bn Naira

States have different needs not every state use fuel equally.

Its like saying a school decides to feed every student, Student A might not need food and need books, another need uniform, another need more teachers. So the solution is the money budgeted for food. I will hand over to each one of you and use it to cater to which part dey pain yu pass

In our argument..it is meagre......

We were disbursing 750b and subsidizing with 400 b...u believed d 400b will lead us into total collapse..

Your subsequent argument proves that from the money realised,the 400b is actually negligible to what might actually crumble the nation....

raumdeuter:
How were govs managing 750bn? Is non payment of salary part of the management you want to continue? If you are the ones being wed 6months salary even with fuel at 100Naira, I doubt you would be defending this as managing

My stand is give govs more power to impact the people directly under them.

Zamfara might say out of the fuel they are subsiding, Na Lagos and Ogun dey use cars most and its cheating for Zamfara to pay in subsidizing Lagos cars so Agric is what matters to him most and use his money for farms

Enugu which fuel subsidy are you talking about when roads no even dey. Subsidy na for Lagos and Rivers people. So Enugu might say its road construction that is most important and use theirs for road

Benue might say which subsidy when our people are being killed daily, shey na dead men go use subsidy?, Na security we need more and use their money for more security.

While Edo will say its that subsidy that is most important and use their money to get but subsidize fuel for their people

That is the point of fiscal federalism which Tinubu always preached about and campaigned for. Every state take your money and decide whats important to you

So doubling it to 1.5tr will still not be enough..

raumdeuter:
Both Subsidy and FX are 2 leaks in the bucket attacking our income. Part of the well being is to give as much money to states to impact the lives of the citizens close to them which is what Asiwaju prioritized

Now the governors are saving part of it, Maybe if only unification was done there might not be enough to pay salaries, do projects, service state debts and save for future

OK I agree with you that both are leaks.

Now we have been able to gain disbursable 1.9tr....how does re-infusing 400bn to help the masses who are caught in the Web of hardship a bad thing?

Let assume he was too lazy to run a check up on daily usage of petrol and this led to us spending 400b per month..


My question remains.....Will 1.5tr not be enough since same gov have been managing 750b??

That is my stand...


Am happy you have inadvertently admitted that the subsidy is too meagre to plunge us into a total collapse

raumdeuter:
What the govt has done is to stop all those loopholes that is draining govt resources at once and give the extra saving to the governors who are directly in contact with the populace to let them meet their campaign promises

You and I know this is a big lie.

Let assume he was too lazy to run a check up on daily usage of petrol and this led to us spending 400b per month..


My question remains.....Will 1.5tr not be enough since same gov have been managing 750b??

That is my stand...

raumdeuter:
Subsidy was not the only fiscal policy change made

See below how much was spent defending Naira at different times under Buhari and under Jonathan

I think the most important obligation of FG is the well being of her people...


You are running away from the main question...Will 1.5tr record FAAC reimbursement be too small compared to the 750b being disbursed b4


Let assume unification was done only

raumdeuter:
We have stopped using money to defend the Naira, Using money to defend oil prices(Subsidy) the savings from it is what makes 1.9tr

When we were doing both, was when governors were complaining they couldnt pay salaries anymore and that also become the reasons they gave why capital projects cannot continue

Now they have no excuse, which is why its time to hold their shirts properly

Same thing baba..

Our extreme hardship is due to 2 policies(subsidy n fx).

Will 1.5tr record FAAC reimbursement be too small as against d previous 750b let assume d 400b was infused back into subsidy?.

raumdeuter:
There are other things that can crumble the country like lack of money to fund project, lack of money to pay salaries

So We are sacrificing 400bn to give the country back 1.15tr sounds like a very good deal

Lols..


Now let remove 400bn from d 1.9tr...we will be left with 1.5tr..

Are you saying development and a whole lot wouldn't have happened if the FG has redirected d 1.5tr record FAAC disbursement. ??

States definitely would have had more money despite the subsidy .

Let remove sentiment for once......

Again..what ponzi was played to realise 1.15tr from sacrificing 400bn??

raumdeuter:
States get different revenues so no one can say exactly but on average with 36 states Maths roughly (1.9trillion/36) minus (750bn/36 states) which is 52.7bn - 20.8bn = approximately 32bn extra per month per state

Let look at it this way.

Subsidy funds per month÷=400b

Difference bw faac allocation =1.9tr-750b=1.15tr.

Which is likely to crumble the country

🙄🙄

raumdeuter:
We make 10bn monthly. Govt expenditure including subsidy is 11bn
Year 1, we borrow 3bn to pay subsidy
In year 2 we borrow another 1bn plus the payment of year 1 debt
In year 3 we borrow another 1bn plus payment of debts of year 1 + 2

By the time we get somewhere in the future you will get to a point where the 10bn will almost be equal to the debt and borrowed

What is the difference bw d 750b and d 1.9tr per month for just q state

raumdeuter:
Money from subsidy comes mainly from income generated which is mostly crude oil sold

So what do you mean..there would be a time we would crumble from borrowing to pay susbsidy??

raumdeuter:
Edolites and every state voted their governor, If you voted someone whose interest lie in their pocket then that is your problem, FG will not take over State responsibility because you voted an irresponsible person to power.

You are asking if prompt payment of salary was the solution, I will counter ask, Is fuel subsidy the solution to the myriad of problems enveloping the nation? When we were paying subsidy was Nigeria eldorado?

If you are using debt to pay subsidy that means your debt will increase. and if you continue, it will get to a point where your entire income is used to pay debt. At that point what is left to use?

You earn 100k per month and you are using 99K to pay LAPO debt, when will you not suffer for it?

I don't understand the point about NLC. FG is dialoguing with Labor because the impending strike. Where FG will use the opportunity to explain what the implications of fuel subsidy. There are FG employees too who are directly under FG and F pays them

Where does the money for subsidy came from

Where does the ×3 of FAAC allocation came from?

Shaytun:
You ask me to calculate using 902, if I should do that, I’ll have to calculate the previous FAAC allocation using 700 too. Since both are unofficial rate.

The koko of the matter is that the current FAAC allocation is more than doubled the previous one, both in dollar and Naira.

So if you don’t see the benefit of your state governors having much more money than before then I really can’t help you.

The koko is the instability of the naira unlike b4..

Within a month...d rate has gained up to 200 and still counting......

When I asked you to convert..I was actually pointing back to Goodluck that was nearly lynched for killing d masses..

More money is actually OK but in reality,we are stuck in thesasme wavelength..

Expenditure back then needed fewer amount in naira than now...this is so because our purchasing power have been crushed .


I think we are moving in circle.......and I am exhausted trying to point out that there is no obvious difference in d purchasing power of the bulky naira now vs few naira then.

I think there is a reason FG is pleading for understanding with NLC and co instead of pointing to the FAAC and the hold"state gov responsible" mantra

raumdeuter:
The governors were saying the allocation is not enough to meet their financial obligations which include salaries. Obaseki and other governors said they wont be able to pay salaries beyond June if subsidies remain. You can ask Obaseki and co why their respective Internal Generated cannot cover salaries, That is the main point of democracy, you voted him and hold his shirt

Subsidy was removed, Governors given more money. Your subsidy money is with Obaseki. You can tell him to use the increased faac to pay subsidy for Edolites and can forget about salaries

There is not calculation that will not show that states are getting over twice their allocation since May 2023

Obaseki and co are politicians whose interests lies in their pocket....

Do you think prompt payment of salary was the solution to the myriad of problems enveloping the nation.

If they had been paying salary just b4 subsidy removal,what has changed??‽are u blaming Obaseki speech for subsidy removal?

The real issue isn't really d subsidy removal alone hut allowing d naira to go head to head with d dollar even when it is weak......

I think if ur argument was legit,FG wouldn't have had time to dialogue with NLC . .

He probably would have redirected them to states gov courtesy faac.

Shaytun:
Lmao, we are using the official rate to calculate now.😂

Or do you want us to calculate using the black market rate?😁


The distance will be bigger niyen o

Is there any difference bw official rate and the one flying around


What then is unification?

obainojazz:
100% determination na the most important tool to japa

The Canada and Australia wey hard… People still enter

I casually met one lady here one time that came on a business visa… she has like 8 years visa but na Chin chin be the business she did in naija

I never knew such opportunities exist but people that do take advantage wella.

E easy when you stand alone...when madam and baby don enter...na war o...

raumdeuter:
Goodluck Jonathan was 8yrs ago. Goodluck assumed presidency when we had low external debt because our debt were forgiven, Oil prices were high

You can call him ebola, Malaria or AIDS doesn't change anything about the economic reality

Below was what Obaseki said before Tinubu became president

Now FG has agreed with Obaseki and his fellow governors, removed subsidy and given state more money. Now its time to go meet the governors and collect your money from them

Or do you prefer subsidy to stay and workers are not paid salaries?

https://www.premiumtimesng.com/news/more-news/596528-federal-state-govts-may-not-pay-salary-beyond-june-without-subsidy-removal-obaseki.html

Are you saying there was no allocation for salary and allowances during subsidies?
.or d gov were not responsible for the lack of cash to be paid to salary workers.

What happened to their respective internal generated revenues


This is my stand incase you are missing it....We can't hold gov responsible now when we weren't tasked to hol them b4..


The faac allocation was supposed to increase as the year progresses even if the dollar is pegged qt a given amount.

Here,The naira is useless in the face of reality,where even 100 of billions cannot solve what a lesser sum would have solved without any ish.....

obainojazz:
Carpenter and Welder Dey earn blood money in those two countries.

Na to enter be d real koko

raumdeuter:
So at 902 How much is the allocation in Dollars? Is it equal to 971million?

If your state governor is stealing the money then its on the governor. Hold him tight. You voted for him

With subsidy the country was in debt and using debt to finance subsidy, this was making allocation reduced and development impossible. Many governors complained that as a result of this reduced allocation they are unable to meet their financial obligations, provide development and some unable to pay salaries.

They have given every governor more money, the governor e.g Mine Seyi Makinde can use his own increased allocation to pay for fuel subsidy in Oyo state if that is the most important thing to him and his people

Likewise Obaseki can do the same take his increased allocation and use it to buy down the price of fuel for Edolite as subsidy. So that Fuel in Edo can be N100 per liter while everything else in the state grinds down to a halt including salary payment

Look at this way...

Under Goodwluck when things were 100%cheaper...who and who gave him a chance or try to say we should hold d gov responsible?

How you are trying to exonerate eBOLA still baffles me...

Dollar presently is #912 and you want us to hold d gov responsible?

You held Jonathan responsible when dollar was abt #160....even when the standard of living was 100% better than this.....

raumdeuter:
How is it explain and show workings how 971million is roughly the same as 2.4billion

Today's price is 902 baba...........

I used naira/dollar instabilities for a reason.

Beside that,what is the rationale behind taking away subsidy and topping d FAAC allocation when in reality d money will definitely been stolen...

Shaytun:
Wetin concern me with corrupt senators.

I’ve said it countless times, the National Assembly is one of the most corrupt institution we have in the country. Up there with the Police.

So I’m not surprised.

Oks..


I taught you were one if the many that insists Nigeria is too broke

Shaytun:
Nigeria practice fiscal federation.

His FAAC allocation has been tripled, to whom much his given much is expected from.

If he’s tired of working he should resign and let someone who knows how to utilize fund take charge.

You are still not getting d ish..

D value of that money is roughly thesame with what has been given out due to dollar/naira instabilities..

Your 1 million years ago is almost same as 3mil presently so d more money is actually useless....

These same money you claimed have been topped would have done more good if it has been used to subsidies a major "wants by every Nigerian.

How do you hold a sitting gov responsible in Nigeria

Emaprince:
Watching that video dey hurt for heart.

But it pains Obidients and Ipob, so cornvicts will support it.

Baba withdraw d statement,say na prayer cos he understand many idiot ready to renovate d statement ......

izzou:
[color=royalblue]The masses should endure

Till now, minimum wage is still being negotiated

But Senate wan go holiday, dem begin share token for safe journies.
[/color]

Them go come for your neck just now....

Emaprince:
They need to to go on holidays to enjoy themselves. How many months have they worked?

These people are really slapping the citizens on their faces ..cos they know nothing will happen. After all, there are foolish people that are ever ready to fight and defend them.

That is the case...


Zombies are well ready to die on d Hill,even when at risk of death...

iamoyindamola:
Them no get fuel again sef

Shaytun.......coma see something

Shaytun.

These are the set of people you believe whatever they dish out.

The Senate President has sent very Expensive prayers out of the insufficient blessings of over 200 Million people to himself and his already blessed colleagues at the National Assembly. pic.twitter.com/yoi8fvlsBU

— Mr Macaroni (@mrmacaroni) August 9, 2023