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Nairaland Forum / Nairaland / General / Politics / Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC (14305 Views)
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Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by adenigga(m): 11:41am On Apr 06, 2021 |
The debts of four states exceeded their net revenues by more than 400 per cent, the Fiscal Responsibility Commission has said. The states are Lagos, Osun, Cross River and Ogun.. https://m.punchng.com/Debts-exceeded-revenues-in-Lagos-Cross-River-FCT-others-FRC 1 Like 1 Share
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Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by padi94(m): 11:42am On Apr 06, 2021 |
We can't just shake off these debts They use the country's revenue to share among themselves and cronies, and will further go an borrow to run capital projects, pay salaries, offset debts that they are still accumulating. What a country, even the experts can't tell them off cos they are benefiting from the act 33 Likes 3 Shares
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Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by Nobody: 11:43am On Apr 06, 2021 |
Yet they loot like their lives depend on it.. 7 Likes |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by kettykin: 11:43am On Apr 06, 2021 |
This is getting very interesting by the day so Lagos, Osun, Cross River and Ogun are now facing insolvency . 3 South west Core states are now stewing in debts with very high and impossible debt to revenue ratios 46 Likes 3 Shares |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by BigSarah(f): 11:46am On Apr 06, 2021 |
There's the IGr, I smell it just can't see or feel it. 2 Likes |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by Nigeriabiafra82: 11:47am On Apr 06, 2021 |
People don’t understand that people without business mind can’t control affairs of a state properly Spending more than you earn is called bankruptcy A state can earn 1 billion Another earn 3million And the later will develop more than the former 40 Likes 2 Shares |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by Luckydubby7(m): 11:51am On Apr 06, 2021 |
Hmm Who is milking lagos 37 Likes 2 Shares |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by inoki247: 11:53am On Apr 06, 2021 |
Ogun no suppose dey d list at all na all d money wey dem borrow dem loot dem no even use small inside du road.... 19 Likes 1 Share |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by Boye33: 11:53am On Apr 06, 2021 |
Lagos debt status is quite understandable, at the end, the investments in the eko Atlantic city, lekki free trade zone and Dangote refinery would spike up revenue in the state. . What I don't understand is what Osun state is looking for in number two. That state should have declared bankruptcy by now, with the way things are going, their debts would go higher than Lagos with no feasible plan of repaying and not much economic activity going on. . I can't remember when I even read a news piece from the state. It appears the current governor Oyetola who was thought to bring succor due to his economic background is just sitting around, borrowing money and paying salaries. 11 Likes 1 Share |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by Echokee1(m): 11:54am On Apr 06, 2021 |
Okay |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by Patrioticman007(m): 11:55am On Apr 06, 2021 |
We need more debts for capital projects, Google the debt profile of USA & see wonders. All that matters is that those debts are used judiciously for infrastructural development of the state. Debts & state growths are 5 & 6. 6 Likes 1 Share
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Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by Goditto(m): 11:55am On Apr 06, 2021 |
Corruption 1 Like |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by Duplexxx: 11:55am On Apr 06, 2021 |
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Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by Vaughanlanrewaj: 11:56am On Apr 06, 2021 |
Debts incurred for long term infrastructures makes sense but to borrow on a regular basis to pay salaries and fund security votes of governors is a no-no for me. In Lagos, we have a few landmark large-scale public infrastructures that are being funded with debt. I have a feeling that some of these projects are denominated in foreign currency thereby causing the cost to rise as naira falls. Most importantly, government need to price it's project well because it seems some of our price variation with same projects elsewhere always makes ours far more pricey making me to wonder.visit www.freestuffsng.com for latest freestuffs in Nigeria. God bless Nigeria. 9 Likes 1 Share |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by Millimann: 11:56am On Apr 06, 2021 |
They should keep borrowing. adenigga: Now, they are nowhere to seen to explain. 1 Like 1 Share |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by bigdammyj: 11:58am On Apr 06, 2021 |
Noted |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by Ubykcee(m): 11:59am On Apr 06, 2021 |
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Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by adenigga(m): 12:00pm On Apr 06, 2021 |
Luckydubby7: j.a.g.a.b.a.n!!!! 17 Likes 3 Shares
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Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by nitrogen(m): 12:00pm On Apr 06, 2021 |
USA has debt to revenue of 700 percent, same with other developed countries. The right metric is debt service to revenue. If you can service your debt close to two times in one year especially in a low interest rate environment, no qualms at all. Of course, judicious use of debt is encouraged. 1 Like |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by MASTAkiLLAh(m): 12:01pm On Apr 06, 2021 |
Gej is at fault ![]() 1 Like 1 Share |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by HenryThegreat1(m): 12:02pm On Apr 06, 2021 |
Someone have to leave Lagos alone pls. I don't want to mention name. 11 Likes |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by MASTAkiLLAh(m): 12:02pm On Apr 06, 2021 |
Patrioticman007:swear by Ogun or Sango that Lagos and Ogun are utilising their debts judiciously ![]() 19 Likes |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by Seniorwriter(m): 12:02pm On Apr 06, 2021 |
Reality |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by letitrainnow(m): 12:04pm On Apr 06, 2021 |
Debt is bad 1 Like |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by dimugonabo: 12:04pm On Apr 06, 2021 |
Nigeriabiafra82: That's why we have an accountant-General in every state. 2 Likes |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by hatakekakashi: 12:04pm On Apr 06, 2021 |
Patrioticman007:What's osun and ogun state using theirs for ![]() 7 Likes |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by DropsMic(m): 12:05pm On Apr 06, 2021 |
No new thing heee |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by stayclearofme: 12:05pm On Apr 06, 2021 |
adenigga:The two of you should get out of this thread. Let economist and reasonable people comment. 2 Likes |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by Pele10: 12:06pm On Apr 06, 2021 |
What do you expect when thiefs are in charge of the treasury. 5 Likes |
Re: Debts Exceeded Revenues In Lagos, Cross River, FCT, Others – FRC by m140(m): 12:06pm On Apr 06, 2021 |
Patrioticman007:They won't like your post... if not for the little we dey make those guys in office dey share am it would have gone a little |
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