The Federal, states and local government areas may have shared $1bn (about N152bn) from the Excess Crude Oil Savings Account.

The dollarised allocation was reportedly made on December 31, 2010 at an emergency meeting of the Federation Account Allocation Committee, which was attended by the commissioners of finance of the 36 states of the federation and their accountants-general.

A report by an online news portal, Economic Confidential, said on Sunday that the meeting came about two week after the December allocation of over N500bn was shared and just about two weeks to the next FAAC meeting in January 2011 for another monthly disbursement.

State governors had reportedly mounted pressure on President Goodluck Jonathan to release the money so they could ”tackle the huge infrastructure deficit” in their states.

The report quoted the Chairman of FAAC, who is also Finance Minister of State, Hajiya Yabawa Wabi, as saying the fund ($1bn) was disbursed for capital projects.

A breakdown of the disbursement showed that the Federal Government received $458.3m; states $232m; and LGAs $179m.

The oil producing states shared $130m with Bayelsa State receiving the highest of $47.1m. It was followed by Akwa Ibom, $43.6m; Rivers, $40.6m; and Delta, $33.0m.

Kano, Lagos and Kaduna were the highest recipients from non-oil producing states, with $20m, $15m and $15m, respectively.

The lowest recipients were Ebonyi, $8m; Gombe, $8.3m; Nasarawa, $8.3m, and Ekiti, $8.4m.

The late President Umar Musa Yar’Adua had in 2008 directed the stoppage of dollar allocation in whatever form from the Federation Account to all tiers of government.

The action was to douse the controversy over the propriety and constitutional implication of sharing in US dollars about $4bn of Excess Crude Revenue, which was recommended by the National Economic Council.

The decision to suspend the allocation in dollars was based on legal and constitutional provisions, which gave preference for the promotion of local legal tenders in the country.

The Economic Confidential said that there were no convincing reasons for the dollarised allocation on the New Year eve, when the country‘s legal tender is naira.

“Apart from the constitutional implication of promoting a foreign currency against local legal tenders, which could trigger off inflation and turn naira notes to worthless tissues, the release of the amount few weeks to primaries of political parties in Nigeria called for concern,” it said.

Meanwhile, the Conference of Nigerian Political Parties has condemned “the squandering of the Excess Crude Account” from over $20bn on June 1, 2007 to less than $3bn.

It said, in a statement on Sunday, that it was alarmed because all indices pointed to less than an altruistic disbursement.

“How can President Goodluck Jonathan account for the hurried sharing of $1bn to the three tiers of government on December 31, 2010? Of what urgent purpose was the $1bn meant for? Is it for politicking? Is it New Year bonus? Why was this meeting on the eve of the New Year of the Federation Accounts Allocation Committee, convened secretly as an emergency meeting?,” the CNPP asked.

The conference added that it was “highly regrettable to finger President Jonathan whose government is cap in hand on a borrowing binge, to covertly disburse the Excess Crude Account for political gains.”

culled from the punch

www.betternigeria.org

A former military dictator, Gen. Ibrahim Babangida (retd.), has said he should not be linked with the spate of bombings ravaging the country.

Babangida, who stated this in a press statement signed by his spokesperson, Prince Kassim Afegbua, said it was unfortunate that private persons and former leaders could be linked to acts of terrorism or bombings.

Babangida, however, did not say how he was being linked with the act.

Apart from Jos, Plateau State, where bombings has become, regular incident, the Federal Capital Territory, Abuja had also witnessed three spates of bombings.

The statement read in part, “General Ibrahim Babangida is utterly surprised at the deliberate ploy to link him with the spate of wanton bombings that have created palpable fear in the land.

“This, to him, amounts to sheer blackmail. It exposes the weakness in the system if private persons and former leaders who are enjoying their retirement are being linked to acts of terrorism or bombings.”

The former dictator suggested that government should call for a stakeholder security summit with the aim of identifying new methods and approaches that would provide useful solutions to the disturbing trend.

www.betternigeria.org

FBI guys are already in naija, we hope they'd be successful



http://www.facebook.com/note.php?saved&&note_id=182246811794165#!/notes/betternigeriaorg/abuja-bombings-fbi-agents-to-join-probe-team-us/10150354521775372

I just hope these guys would not disgrace Nigeria more on international television because they are not good at public speaking and Atiku for one is dumb. I look forward to that day and would watch with keen interest. Try watching Obama and Mccain's debate and you would be proud of American presidents and even the aspirants who didn't win. These guys have no vision and how to go about it and thats the truth. Atiku in his campaign advert on tv said, "i would make things happen". Just imagine the level of illiteracy. thats why notherners who have most of its population uneducated are following them after they speak the native language and throw a little money, I can keep writing on and on but we need to know that we need to pick the better of two bad. Goodluck is far better and has now to prove himself, Atiku has been here before and failed woefully. He should not show his face.

You can read this post on http://betternigeria.org/where-do-we-start/

www.betternigeria.org

emofine:

Thank you CarlC. I needed this, may God bless you and our nation.

You are welcome friend. You should get others to www.betternigeria.org

Ileke-IdI:

What Journey? I havent noticed any movement

I mean how far Nigeria had gone in 2010 and how far we can go in 2011

Regardless of culture and traditions, we are all Nigerians and should learn to live together as one. Crises does not do us any good. Let help Nigeria by cleaning up ourselves first

Happy new year to all Nigerians. lets join hands to make Nigeria better. Change has got to stay

The journey for Nigeria and our individual selves has been a rough one but we still have God to thank for seeing us through. Nigeria can be better, it starts with us. One step at a time

God in his infinite mercies has seen us through this year as a nation. In spite of the instability, sufferings and issues with Nigeria, we still have the cause to say thank you to the supreme being irrespective of religion. The bitter truth is that the year ended on a sad note with bomb blast killing innocent people on christmas. As if that was not enough, another blast was the tale of Jos residents and another northern states a few days ago. We should all do our won part to help this nation and keep our hands clean.

2010 had its good times though both for Nigeria as a nation and personally for each and every one of us. Some hope that 2011 would get better while some wouldn’t exactly know what to wish for. I want to keep this brief so i wouldn’t be writing much. A few tips or probably advice that should follow us to 2011:

1. Develop yourself in every way, this way you can be useful to the society at large.

2. Keep your hands clean, stay out of trouble and try as much as possible to stay out of debt. Some people even believe it is worse that death itself.

3. Try to help those in need and remember those suffering while you enjoy. You should understand that at a point, it is not their fault that they are in that position and you are only lucky or favoured to be where you are today.

4. We all have dreams and goals we need to achieve. Write them down and make it plain because it is far better that storing them in your head acting like you are a genius. If you want to be sincere, you would notice than whenever you want to implement those your plans, they suddenly become vague and it seems you can’t remember them any more. Write your goals and how you intend to achieve them….it helps.

5. Improve your reading habit. There is a saying that whatever the white man wants to hide from a black man, he writes them in a book. Now, you should understand that no knowledge is a waste and don’t ignore book simply because you got them for free. You might not need everything but most definitely, you can pick up one thing that can make a big change after you tweak it. Remember…no knowledge is a waste.

There are a whole lots of advice that we can take into the new year whether you are giving them to me or me to you, there is need to take them in record them in our subconscious. I have to leave now…it’s almost new year. I didn’t prepare for this post and hope i didn’t write off-point. There are a lot of issues about Nigeria today but i am hopeful just like you that they’d get better.

Till i write again in 2011 with you there to read…….Be good and make Nigeria a better place.

HAPPY NEW YEAR 2011 TO ALL NIGERIANS!!!

Source: http://betternigeria.org/2010-the-journey-so-far-happy-2011/

God in his infinite mercies has seen us through this year as a nation. In spite of the instability, sufferings and issues with Nigeria, we still have the cause to say thank you to the supreme being irrespective of religion. The bitter truth is that the year ended on a sad note with bomb blast killing innocent people on christmas. As if that was not enough, another blast was the tale of Jos residents and another northern states a few days ago. We should all do our won part to help this nation and keep our hands clean.

2010 had its good times though both for Nigeria as a nation and personally for each and every one of us. Some hope that 2011 would get better while some wouldn’t exactly know what to wish for. I want to keep this brief so i wouldn’t be writing much. A few tips or probably advice that should follow us to 2011:

1. Develop yourself in every way, this way you can be useful to the society at large.

2. Keep your hands clean, stay out of trouble and try as much as possible to stay out of debt. Some people even believe it is worse that death itself.

3. Try to help those in need and remember those suffering while you enjoy. You should understand that at a point, it is not their fault that they are in that position and you are only lucky or favoured to be where you are today.

4. We all have dreams and goals we need to achieve. Write them down and make it plain because it is far better that storing them in your head acting like you are a genius. If you want to be sincere, you would notice than whenever you want to implement those your plans, they suddenly become vague and it seems you can’t remember them any more. Write your goals and how you intend to achieve them….it helps.

5. Improve your reading habit. There is a saying that whatever the white man wants to hide from a black man, he writes them in a book. Now, you should understand that no knowledge is a waste and don’t ignore book simply because you got them for free. You might not need everything but most definitely, you can pick up one thing that can make a big change after you tweak it. Remember…no knowledge is a waste.

There are a whole lots of advice that we can take into the new year whether you are giving them to me or me to you, there is need to take them in record them in our subconscious. I have to leave now…it’s almost new year. I didn’t prepare for this post and hope i didn’t write off-point. There are a lot of issues about Nigeria today but i am hopeful just like you that they’d get better.

Till i write again in 2011 with you there to read…….Be good and make Nigeria a better place.

HAPPY NEW YEAR 2011 TO ALL NIGERIANS!!!

source: http://betternigeria.org/2010-the-journey-so-far-happy-2011/

I would not say it was a religious clash though those involved wants it to look so.

www.betternigeria.org

The simple truth is that whoever is involved in this is trying to cause a tailspin for their own benefit. Say no to terrorism and say yes to a better Nigeria.

www.betternigeria.org

Someone ways asking what the conference would achieve. When we talk about a conference like this, its definitely not meant for everybody but for those who are either interested or that is their field. People should stop being negative, it high time we stand up to Nigeria. The conference is definitely going to have an impact, like minds coming together for a great cause.

Visit www.betternigeria.org and let your voice be heard in the quest for a greater Nigeria