meforyou1:
na u no do govt for school. Do u know anything about the exclusive and concurrent list?

no i ont knw that,but wot i do knw is that ur brain is on overdrive

angelinamariam:
Hi I'm Angela and I'm one of the most popular fbt guru well known in other forums and I'm also an issue solver and you can count on me anytime any day

My purpose of creating this thread is to ask if it's illegal to post free brows tweak on nairaland cause I've got a whole lot of it which has been working for many months and wasting I don't want to enjoy them alone I want to share if you need anything or want to solve any android issue just whatsapp and I won't ask for money I'm only here to help its doesn't matter if I'm a lady thanks

zero,eight,one,two,six,three,two,five,five,one,zero


Whatsapp me and let me know if its legal or illegal and also ask me any questions.

I guess I will whatsapp you with your nairaland username

Fully agree with FG

Jorussia:
FG can not exonerate it self from the inability of some govs in paying salaries. If the federal allocation of a state drops from 3.8b to 1.1b and its wage bill is 2.3b,how do you expect such a state to cope.For those of shouting IGR,you remember when dis states starts aggressive revenue drive,you guys will still b d first to start shouting double taxation or extortion. who caused d current drop in revenue from the federation account?I know that some of you will start giving d excuse of either fall in oil price/oil theft, whereas dis issue is not new to us a nation.Gej and his team ruined our economy and we should hold them responsible.

My friend, get fact: there is no state that should not be able to pay the workers' salaries even if the mothly allocations from the federation account is to be recon with. The problem is priority setting.Also, where are the IGRs? We are supposed to be practising federalism for goodness sake!

fyneguy:
Ok. if a state's allocation is N2 Billion and its wage bill is N2.6 Billion, should they spend all on paying salaries?

why are they called states if they cant generate any money internally?

noblezone:
CHANGE is here!

No more salary delays.
In fact salaries would be paid of upfront!

Dont mind Jonathan, he stopped Okorocha and Amechi from paying salaries!

your type of mumu still the this world

loomer:


Bros it's the truth, no where u go tell me say revenue from state is completely collected by the federal government

look bro on the real definition of a prsidential system of govt,the federal is only suppose 2 be responsible for matters of defence,foreign matters n trade but as in naija's case they include even the once wey no concern them,anytin that is worth claiming goes to d federation's account okay dumbskull...

noblezone:
CHANGE is here!

No more salary delays.
In fact salaries would be paid of upfront!

Dont mind Jonathan, he stopped Okorocha and Amechi from paying salaries!

How

noblezone:
CHANGE is here!

No more salary delays.
In fact salaries would be paid of upfront!

Dont mind Jonathan, he stopped Okorocha and Amechi from paying salaries!

Okorocha and Amechi should have paid their states salary ..at least they have some internal revenue that they should have used ..
I cannot even believe Okorocha owes 13 months salary to teachers and he was still re-elected ..only in Nigeria that will happen - 4th world country

loomer:


So the state no go even try generate revenue, na just to de wait for allocations?

No mind them Yeye governors. Even when advised on how to generate I.R, they look the other way because they just want east money. Laziness and lack of vision is their main problem. I just pity those civil servants who can't seem to find a way out. I am also perplexed as to why these governors are still walking on the streets with out consequence.
Sometimes I doubt we're as tuff as we claim to be.

luthorcorp:
mr man u had better wake from ur slumber,federal govt collect evry single nickel n dime and then realocates their budgets to them,this is not great britain where london manages its affairs

........smiles.....can u pls explain or tell us how FG collect em..thanks

sinizia:
Everyone knows this.. Only fools will buy the cheap lies that Aregberascal and his thieving co-traveller, Rochas, are peddling, blaming FG for the uncountable cash they've looted out of the state treasury, thereby rendering the masses in their states, jobless and useless.

They claim to have no money, yet they were squandering the state's money during the election. Did that money wasted during the election come from the stars? Rochas and AregbeRascal are bad liars and heartless thieves!!

chill bro, by the time the realize who general muhammadu buhari is, then they will know that they are really in for a big change... Let them keep displaying their stupidity in front of the president elect.

loomer:

The guy still no gree o

mumu no the gree na

ENUGU state pays at 25th of every month, has much more physical projects ongoing and completed with lesser allocation than IMO state; but Rochas is blaming FG.
Shame to APC
NIgeria is scammed

My worries is that this people can lie to gullible Nigerians and deceive them alot: several months later (when GMB has been sworn in) they will still be claiming that the debt GEJ left behind is their predicament and people will still hail them.

Jossyroyal1:
-but FG was responsible for not asking such state governors to give proper account of the allocations they were given right?

U don't understand democracy

luthorcorp:
look bro on the real definition of a prsidential system of govt,the federal is only suppose 2 be responsible for matters of defence,foreign matters n trade but as in naija's case they include even the once wey no concern them,anytin that is worth claiming goes to d federation's account okay dumbskull...

Like I said, that na big lie, not everything.

Na only some weeks ago one topic of lagos state govt pulish say dem generate "so so " mount of money and spend "so so" amount of money,

It is unacceptable for any state governor to use the Fed Govt as an alibi to owe their workers. Their PAs and SAs are never denied of any allowance no matter what happens. Many Govs cannot even generate enough funds to maintain few cars but they have so many in their fleet because of the largesse that comes from Abuja every month. It is sinful in the sight of God to owe any worker of his wage. Governance is about WEALTH GENERATION AND DISTRIBUTION and not just about Sharing. They should look inwards and stop complaining. How many states still invest in Housing Estates for its workers? How many can boast of functional enterprises that generate funds? If the price of crude does not improve, some states may have to look for alternatives or merge with viable ones. Many have resorted to borrowing form different sources but that will soon backfire because if those debts are not serviced, the future for such states look bleak.

tell them oh especially this clown in IMO state

Daykoozy:

No mind them Yeye governors. Even when advised on how to generate I.R, they look the other way because they just want east money. Laziness and lack of vision is their main problem. I just pity those civil servants who can't seem to find a way out. I am also perplexed as to why these governors are still walking on the streets with out consequence.
Sometimes I doubt we're as tuff as we claim to be.

In life them say, when u push person to de wall him go push back....

Leave them, that time go soon reach wen nigerians go push back

fyneguy:
Ok. if a state's allocation is N2 Billion and its wage bill is N2.6 Billion, should they spend all on paying salaries?

All States get enough allocation for salaries. remember there's a budget that is being followed

Nigeria’s economy under threat as debts hit N11tr
May 6, 2015
Written by SIMEON EBULU, Group Business Editor


The growing profile of Nigeria’s debt has become a source of concern, given the Federal Government’s penchant to add to its stock. The latest addition of N473 billion, has once again opened the floodgate of the spiral rise, with its attendant consequences, reports SIMEON EBULU, Group Business Editor

FEAR may well be the word to describe the state of Nigeria’s debt profile, hovering at N11.24 trillion as at December 31, 2014 and still rising.

The level which the nation’s debt overhang has attained is like a death-knell. Yet it keeps climbing.

The revelation by the Minister of Finance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Nweala, that the Federal Government has borrowed N473 billion in the first quarter of this year to execute the 2015 National Budget, is another clear case of one-more borrowing too many, so to speak.

Dr. Okonjo-Iweala said yesterday that of the N882 billon budgetary provision for borrowing, the Federal Government had already accessed N473 billion to fund Recurrent Expenditure, such as salaries and other overheads. The obvious reason for this development, she stressed, is the 50 per cent decline in the spot market of crude prices .which has inadvertently resulted in a cash crunch for the country.

To remain focused on keeping the economy stable and the government running, the government has embarked on “front-loaded borrowing programme to manage the cash crunch in the economy,” she said.

Nigeria’s borrowing profile from independence, is a study in itself. Going by the data available to The Nation, there appears to be more questions than answers when it comes to x-raying how the nation arrived at this point in time, where nothing gets done unless it is powered by external revenue sources, rather than internally generated funds, or revenues earned from known government sources, such as taxes, oil and non-oil exports.

The hint that Nigeria would go a borrowing again, was given by Mrs. Okonjo-Iweala in far- away America in April during the last International Monetary Fund (IMF)/World Bank Group Spring meetings in Washington DC, United States (U.S.).

On prospects of further borrowing, she said: “Government is considering and in fact taking steps to actualise this with the World Bank Group and the African Development Bank (AfDB).” The other option of tapping the capital markets would be left for the incoming government. She said the government decided to look outside the nation’s shores for the next round of borrowing because it has reached, and almost exceeded taking the ceiling for local debts.

Mrs. Okonjo-Iweala said: “Our borrowing strategy is very prudent, and what we will do is that we have a lot of domestic borrowing than we want, so we are trying to switch and have a little more of external borrowing, but by drawing heavily on the multilateral institutions. So we will be going to the World Bank and the AfDB, and we will also look into the markets. But for the multilaterals, we’ve already embarked on discussions.”

Her disclosure that N473 billion has been borrowed is a confirmation that the proposal has eventually been actualised.

In its 2014 Debt Sustainability Analysis (DSA), the nation also adopted a subsisting debt management strategy as captured in the approved Nigeria’s Medium-Term Debt Management Strategy (MTDS), for 2012-2015, which seeks to achieve an optimal mix in the debt portfolio of 60:40 for domestic and external debts respectively as against the current mix of 83:17 through a gradual substitution of relatively more expensive domestic borrowing with cheaper external financing. Thus, the 2014 DSA has already incorporated government’s policy objective of reducing the overall cost of government borrowing at an acceptable level of risks. This may have informed the minister’s statement of government’s preference for approaching multilateral agencies.

The objective of the 2014 DSA is to assess the country’s capacity to finance its projects/programmes and service its debt obligations, without undue large adjustments that may compromise its macroeconomic stability, overall growth and development.

The government’s avowed confidence that it can continue to borrow on the argument that it falls within a safe threshold, is punctured when examined under an uncertain economic regime, as being faced by Nigeria. Even the government admitted this by its own record. It underlined the risks inherent on its path.

“The pessimistic scenario ( where Nigeria is presently), assumes a reduction in the growth of the Gross Domestic Product (GDP), increase in the rate of inflation, decline in revenue accruing to the Federal Government as a result of a fall in crude oil prices, deterioration in fiscal deficit and current balance, amongst others. Unlike in the previous years, which made pessimistic scenario revenue-specific, this years DSA considered deterioration in a broad range of macroeconomic indicators and variables that could impact negatively on the debt portfolio,” the sustainability analysis annual report said.

Although the results indicate that the country will still remain at a low risk of debt distress under the pessimistic scenario, it also shows a rising trend for all the debt indicators throughout the projection period. This means that a prolonged deterioration in one or two of the variables could increase the risk of debt sustainability.

The growing concern over the country’s debt overhang has been on the front burner for years, but often times, government officials have always argued that the nation’s debt level has not gone out of a safe trajectory. However, the lid over this confidence margin, appears to be weakening and increasingly contested.

A lecturer at the Pan Atlantic University, Lagos, Dr. Austin Nweze, pointed out a grave danger in accumulating excessive foreign debts as such would place undue burden on future generations, especially if the loans are not channeled into capital projects.

He said that the danger lies ahead for the economy, should the existing level of borrowing from big nations continue, which could make the country to depend on lending nations.

Nweze, however, said that there is nothing wrong in borrowing provided the funds are well utilised or invested in the provision of infrastructure.

According to him, the fall in oil prices has reduced revenue receipts, forcing the government to look for money to run the economy.

He urged the government not to leave behind a heavy foreign debt burden for the present and unborn generations. He cautioned that Nigeria, already under a heavy burden of foreign debts could be in great danger.



He urged the ruling class and the older generations to set good example and educate the coming generations for a better and secured future. According to him, such example should be set by not accumulating debt for future generations to inherit.

He urged the government to invest borrowed money in projects that will benefit the economy, instead of consuming the money.

Dr. Isaac Nwaogwugwu, a lecturer at Department of Economics, University of Lagos, said there is no way we are going to finance capital budget without borrowing.

He said: “That is why the allocation to capital account or expenditure is very small unless the government says it not ready to invest or provide for the future then it’s going to borrow.

“If government is committed to developmental issues there is no way it can run away from that? So, the volume of borrowed amount, or our debt stock wouldn’t matter so much. They can always try to cut down what they have borrowing and not that they can’t borrow.”



Leakages



Nwaogwugwu went on: “The danger on borrowing lies on fiscal leakages. If government can block leakages, that will be fine and that is the task for the new government, though the president-elect will find his hands tight on many issues.

“We can’t run away from borrowing but all we have to do is to ensure that we block all leakages. All we have to do is that we become bold enough to address some fiscal issues involved in recurrent spending. Many things we spend on recurrent expenditures are simply used to maintain some people who run government.



Funds not tied to

specific projects



“That issue started under former President Olusegun Obasanjo. If you look at the letter which Soludo (the former Central Bank of Nigeria Governor) wrote when he was talking about the Jonathan administration and how he mismanaged the economy, he raised the issue of using the budget to finance consumption expenditure.

“Basically, Soludo called the budget under President Jonathan a consumption appropraition. In as much as I agree with Soludo totally, I also hold him accountable for some of the mistakes. It was when Obasanjo was in the office that Soludo was the CBN Governor, before Sanusi Lamido, took over with this minister of state for finance, who replaced Okonjo-Iweala . “It was after that we borrowed money, they called it capital receipt and we used that money to pay salaries and wages; we used that money for recurrent expenditure. We borrowed money and we don’t tie it to capital projects. That is one of the biggest issue and where the dangers lie. Such loans must be tied to the budget and if we don’t, we’ll be mortgaging the future of Nigerians.



The way out



Nwaogwugwu said: “We have to be fiscally discipline. We saw the Senate pass the bill; we saw the House of Representatives pass the bill and what did we see? The budget has increased. It has gone up to N4.5 trillion. But, what we discovered that National Assembly increased spending and mark up expenditure on things that might not be necessary. That has always been the problem. If the National Assembly can look at the budget critically and say, ‘we don’t need this; we don’t need that; let us start with their own remuneration; begin to cut them down, look at how much they are collecting’.

“Look at the severance allowances… unless you cut these down, there is no way out. You look at the state bureaucrat today; the havoc they have caused to the economy is huge. Look at the monetisation policy of Obasanjo, they have abandoned it completely. Unless we have a National Assembly that is bold enough to say, ‘lets block this and that’, then we will move forward. The way out is that those we have elected should block all leakages. If the politicians do the right thing we won’t have any problem.

Segunod:
With 50% drop in fedral allocation, how do u expect states with lower IGR to survive? Am sure the 50% most of this states recieve is not even enough to pay salaries and equally embark on developmental projects. GEJ spent almost 3trilion on his re-election campaign. Do u knw how far this money would hav gone in developing this nation?

Out of the 36 states in this country, rochas,fashola,fayose,amaechi. Are owing, that is 4 out of 36, does it mean that the other 32 states went for bank robbery to pay salaries?

*how does non payment of salaries by rochas for 13months correlates with 50% drop in the price of oil?

*that 50% drop took effect in the last quater of 2014(around october-december).

*13months ago still runs on 2013 nd 2014 fiscal year budget. Which means all budgets has been duly approved and money disbursed for all states including imo,rivers and co for such yrs.

*what did rochas did with those money?

*do u know that payment of school fees is also a form of IGR?

Last bullet

Rochas is just an incompetent and an imbecilic fool. Who knows nothing about running a state and has refused to learn.


*my brother always try to get all ur facts straight before exhibiting ur illiteracy skill on a public forum.

#qoutemeanddie
#qoutemeandgetKleg
#my2cents

loomer:


And some people here on nairaland feel say na federal government responsibility to spoon feed those states.

I always laugh it off. If each state works, some folks might just forget who the president is.

Lanretoye:
Mumu finance ministry,so the cut in revenue wont come with its multiplier effect?. As an economist wey the minister be,she dey tell us say an economy's revenue will just drop by a whooping 50% all of a sudden without a pointer... Smh for the most useless administration of all time. SAI MAY 29!!!

how do you justify 13 straight months without pay even if you are getting 50 percent?

Jorussia:
FG can not exonerate it self from the inability of some govs in paying salaries. If the federal allocation of a state drops from 3.8b to 1.1b and its wage bill is 2.3b,how do you expect such a state to cope.For those of shouting IGR,you remember when dis states starts aggressive revenue drive,you guys will still b d first to start shouting double taxation or extortion. who caused d current drop in revenue from the federation account?I know that some of you will start giving d excuse of either fall in oil price/oil theft, whereas dis issue is not new to us a nation.Gej and his team ruined our economy and we should hold them responsible.

Shutt the Ffuck UP!!! You are a Baastard!!
I don't usually insult people on NL but people like you that vomit stupidity from your anus called mouth need to be trashed!!!

For the record how will u blame FG for the fall in revenue? Is GEJ like the #Dauradullard that will stabilise crude oil prices?

Where the ffcuk were u when the Head of Governor's forum was shouting that money shouldn't be saved, and gave an analogy of a child in the hospital?

If the state keeps employing dead weight? The FG should pay?

Is the FG owing salaries?


In Oshomole's VOICE "GO and DIE" you fuUckstard.
Your skin is best used as slipperss!!!

luthorcorp:
mr man u had better wake from ur slumber,federal govt collect evry single nickel n dime and then realocates their budgets to them,this is not great britain where london manages its affairs

So you're saying states can generate revenue on their own since FG takes all and does the sharing?

loomer:


Like I said, that na big lie, not everything.

Na only some weeks ago one topic of lagos state govt pulish say dem generate "so so " mount of money and spend "so so" amount of money,

*laugh* yea rite,well its obvious the major income of lagos is based on importation where ofcousr d NPA operates,so u then mean to say the revenue from NPA goes into the states acount right?? or rather the income from nnpc in delta state is 4 dem alone? *yawnz* i'll be rite back bro

fyneguy:
Ok. if a state's allocation is N2 Billion and its wage bill is N2.6 Billion, should they spend all on paying salaries?

What of state IGR

please why cant each state generate their own income tax (via IGR) and pay a percentage of it to the FGN.

because of this policy of going to the FG for income every month; thats why we have so many states in Nigeria

Most states are jst glorified local govt.

UncleJudax:

I always laugh it off. If each state works, some folks might just forget who the president is.

That's something most people don't know

Its only the APC states governors that can't pay salaries. This is because they have spent all the moneis including state salaries to campaign, bribe and rig election. The workers should force them to pay or drive them from that office

fyneguy:
Ok. if a state's allocation is N2 Billion and its wage bill is N2.6 Billion, should they spend all on paying salaries?

Your comment shows how stupid you are !