In a major policy declaration, PDP presidential aspirant Peter Obi says he will replace the existing monthly sharing formula from the nation’s purse with the production formula.

Mr Obi, an industrialist, said this in Calabar while canvassing delegates of the PDP toward the forthcoming party’s presidential primary of May 28 and May 29.

The former governor of Anambra said it was important for everybody to be productive if the nation must survive adding that other nations in the world were busy producing while Nigeria was busy sharing and consuming.

He said it was not a time to dance and celebrate as a nation but a time to work and fix the nation badly battered because of our celebration of the wrong things.

“Nigeria is a nation of over 200 million people with about 100 million living in poverty, over 18 million out of school children out of which about 10 million are girls.

“We have a 35 per cent unemployment rate and if we add underemployment it will rise to over 50 per cent, many of which are youths in their productive age, so we cannot be celebrating,” he said.

The astute economist said there was nothing wrong in borrowing as a nation as the largest economies in the world were also in debt but the problem of Nigeria was that it was borrowing for consumption.

“The consequence of borrowing for consumption today is that Nigeria is spending over 90 per cent of its revenue to service debts without much production to show for it.

“Exporting crude oil has not saved Venezuela or any country, we need to invest in our massive land mass and grow our economy like other nations such as Singapore, Vietnam and even Morocco have done with tourism,” he maintained.

He appealed to the party delegates to place less emphasis on sharing money as many politicians would come to share money but when it was time to vote they should consider the future of their children.

Responding, Venatius Ikem, Chairman of PDP in Cross River, said although things had gone really bad for the nation, we could start repairing for the future by voting right.

According to him, Mr Obi is the kind of president Nigeria needs because after listening to him every right thinking person should have a sober reflection on the way forward for Nigeria.

“I believe if you become president, Nigeria will have a turn around.

“I however do not expect Nigerians to just wish but express their wishes through their support for Peter Obi,” he noted.

https://gazettengr.com/my-administration-will-replace-sharing-formula-with-production-formula-peter-obi/

When sword never dey in between the 2 hands of a man, he shouldn't probe the death of his parents. Ask awolowo, when he said he would ban okrika and okporoko when he visited Onitsha and Aba during campaign for president.(ban on okrika and fish, means we producing them right there in thar order, meaning cheaper costs for the business men and cheaper products, and more employments.

Ibo

He should have kept this formula to himself for now till he becomes the president

So much wisdom

And you want abokis to vote for you

Baawaa:
And you want abokis to vote for you

unproductive aboki, goodluck Jonathan won election without ur vote, obi can do the same.

#JusticeForDeborah

lol naso Fashola dey make Noise den abt electricity where d man now e don cold Nigeria problem can make u clueless.....


All this Motivational speaker sef always using mouth to draw things like say Nigeria problem na inside cardboard e dey wen state government start to dey carry u go court and start buying Judgement ur eyes go clear...

You fit detect Nigeria problem from far na wen u reach dere u go du testimony.....

Below is the so called alleged blasphemy by DEBORAH. Are we really in one country?

SULTANATE COUNCIL OF SOKOTO APOLOGIZES TO THE GENERAL PUBLIC FOR THE MURDER OF DEBORAH, STUDENT WHO SAID JESUS IS THE GREATEST AND JESUS MADE HER PASS HER EXAMS

It's unfortunate.

Her crime was that she said that Jesus was the greatest and that Jesus made her pass her exam.

That is what they call blasphemy.

It's not that she said anything against their religion.

She talked about her own religion and Christ.

It is now blasphemy for Christians to speak of their faith in this secular country called Nigeria.

Lanre Ayoola.

This is the intelligence I am talking about.... These are men with productive brains and minds....

inoki247:
lol naso Fashola dey make Noise den abt electricity where d man now e don cold Nigeria problem can make u clueless.....


All this Motivational speaker sef always using mouth to draw things like say Nigeria problem na inside cardboard e dey wen state government start to dey carry u go court and start buying Judgement ur eyes go clear...

You fit detect Nigeria problem from far na wen u reach dere u go du testimony.....

He even lied. Buhari never borrowed for consumption. Perhaps, he does not know what consumption means.

Buhari's loans are always tied to projects - road construction, rail project, and others.

The production formular he talks about is a castle in the air. It is not a short term thing. It will take time to build production capacities, before earning therefrom. Will the states not spend before that happens? That means this man has no grasp of the national economy and what is practicable. He might not even realize it in 8 years.

okeysoninv:
unproductive aboki, goodluck Jonathan won election without ur vote, obi can do the same.

Which election? Or you mean it was his Aboki pdp colleagues that made sure he defeated Buhari in 2011, before they dumped him in 2015?

fyneguy:


He even lied. Buhari never borrowed for consumption. Perhaps, he does not know what consumption means.

Buhari's loans are always tied to projects - road construction, rail project, and others.

The production formular he talks about is a castle in the air. It is not a short term thing. It will take time to build production capacities, before earning therefrom. Will the states not spend before that happens? That means this man has no grasp of the national economy and what is practicable. He might not even realize it in 8 years.

The President doesn’t even have the jurisdiction to interfere with the FAAC.

Buckeyemedia1:
Which election? Or you mean it was his Aboki pdp colleagues that made sure he defeated Buhari in 2011, before they dumped him in 2015?

Aboki doesn't vote anyone that's not a Muslim. you guys doesn't hold key to presidency. buhari was losing till he formed alliance with south west.

fyneguy:


He even lied. Buhari never borrowed for consumption. Perhaps, he does not know what consumption means.

Buhari's loans are always tied to projects - road construction, rail project, and others.

The production formular he talks about is a castle in the air. It is not a short term thing. It will take time to build production capacities, before earning therefrom. Will the states not spend before that happens? That means this man has no grasp of the national economy and what is practicable. He might not even realize it in 8 years.

anything that's not yielding income is a waste consumption. Peter obi is right, buhari is borrowing for consumption..

okeysoninv:
Aboki doesn't vote anyone that's not a Muslim. you guys doesn't hold key to presidency. buhari was losing till he formed alliance with south west.

Quite shameful how you lazy minded politically naive Southern youths have surrendered your franchise to so called uneducated Aboki brothers as you claim?

Nonsense so called educated cowards, you should have made your complaint to Orji Kalu & Hope Uzodinma?

This guy was governor for 8 years n he didn’t do all these,y now?

The most annoying part about this guy is how he quotes figures anyhow,that thing Dey vex me n how he’s always talking about other countries when addressing Nigeria issues

Buckeyemedia1:
Quite shameful how you lazy Southern youths have surrendered your franchise to so called uneducated Abokis as you claim?

Nonsense so called educated cowards, you should have made your complaint to Orji Kalu & Hope Uzodinma?

you aboki doesn't determines who becomes the president of Nigeria. Do you get it ..Greater south and north Central is all we need to cling the seat.

okeysoninv:
you aboki doesn't determines who becomes the president of Nigeria. Do you get it ..Greater south and north Central is all we need to cling the seat.

Zombie didn’t want to waste my time correcting your English, which part of Delta (The Big Heart State) is in Northern Nigeria?

Mumu, Keep deceiving yourself in your ignorance, nonsense ipobian.

Xscape1993:
This is the intelligence I am talking about.... These are men with productive brains and minds....

y didn’t he make anambra d best state during his tenure?

Y are his kinsmen still running to Lagos,this guy is not different from d average politician who tell u all d problems without any solution

How is this different from what fashola said about electricity not been rocket science

Reality3080:
y didn’t he make anambra d best state during his tenure?

Y are his kinsmen still running to Lagos,this guy is not different from d average politician who tell u all d problems without any solution

How is this different from what fashola said about electricity not been rocket science

Electricity isn’t rocket science, but how can you have electricity, when you don’t want to pay for it?

How can Nigeria the most industrialized country in West Africa have the lowest electricity tariff in West Africa because of government subsidy?

Which foreign company that has the expertise will invest their money, they should invest $1, to get back 69 cents, just to please you Nigerians?

Why should the poor be paying subsidy for the rich people like Dangote Industries?

okeysoninv:
Aboki doesn't vote anyone that's not a Muslim. you guys doesn't hold key to presidency. buhari was losing till he formed alliance with south west.

I am afraid you are not making any sense. Fyneguy raised an important point and I expected an intelligent response from you, but you are going about writing aboki up and down. Buhari is not borrowing for consumption; all loans are tied to projects.

I think what Peter Obi needs to explain to Nigerians is how he plans to replace the sharing formula with production formula because the states rely heavily on the resources from the center to run. The report that came out yesterday says only Lagos and Ogun States can run without depending on federal handouts.

Buckeyemedia1 is also right about the presidency not having power over the revenue-sharing formula because it's backed by an act of parliament. No president can easily reverse this feeding bottle system without the help of the NASS.

Nairaland needs people who think critically to add value to this forum

*NUMBER OF DOCTORS/DENTIST IN NIGERIA PER STATE AS AT APRIL,2022. - NIGERIA MEDICAL ASSOCIATION* (NMA)

1. LAGOS STATE - 6065
2. FCT, ABUJA - 4016
3. RIVERS STATE - 1876
4. OYO STATE - 1743
5. EDO STATE - 1705
6. ENUGU STATE - 1507
7. KANO STATE - 1426
8. KADUNA STATE - 1335
9. OGUN STATE - 1233
10. ANAMBRA STATE - 1173
11. DELTA STATE - 1168
12. OSUN STATE - 1100
13. PLATEAU STATE - 1065
14. KWARA STATE - 898
15. IMO STATE - 843
16. AKWA-IBOM STATE - 756
17. EBONYI STATE - 708
18. CROSS-RIVER STATE -703
19. ABIA STATE - 695
20. BORNO STATE - 672
21. ONDO STATE - 669
22. BAYELSA STATE - 643
23. EKITI STATE - 575
24. BENUE STATE - 526
25. SOKOTO - 523
26. KATSINA STATE - 505
27. NASARAWA STATE - 479
28. GOMBE STATE - 433
29. NIGER STATE - 421
30. BAUCHI STATE - 414
31. KOGI STATE - 355
32. YOBE STATE - 250
33. ZAMFARA STATE - 247
34. KEBBI STATE - 246
35. ADAMAWA STATE - 241
36. JIGAWA STATE - 238
37. TARABA STATE - 168

TOTAL - 37,619

SIGNED
Prof. Innocent .O Ujah, mni
PRESIDENT, NMA
24/4/2022.

Dr. Philips Uche Ekpe
SECRETARY GENERAL

fyneguy:


He even lied. Buhari never borrowed for consumption. Perhaps, he does not know what consumption means.

Buhari's loans are always tied to projects - road construction, rail project, and others.

The production formular he talks about is a castle in the air. It is not a short term thing. It will take time to build production capacities, before earning therefrom. Will the states not spend before that happens? That means this man has no grasp of the national economy and what is practicable. He might not even realize it in 8 years.

bros, that consumption, you are one one of the reasons Nigeria education system is not acceptable abroad

okeysoninv:
anything that's not yielding income is a waste consumption. Peter obi is right, buhari is borrowing for consumption..

do u know d meaning of consumption at all?
Peter obi is talking about saving for bigger project or probably sourcing to finance project,what will happen b4 it materializes?
Won’t we spend b4 embarking on d so called project,it’s just like saying u won’t eat till u get a car.

This guy doesn’t even understand d meaning of what he says n majority of his solutions aren’t feasible but they are just paper tiger.

Analyse it critically n u will see d lies in his truth

fyneguy:


He even lied. Buhari never borrowed for consumption. Perhaps, he does not know what consumption means.

Buhari's loans are always tied to projects - road construction, rail project, and others.

The production formular he talks about is a castle in the air. It is not a short term thing. It will take time to build production capacities, before earning therefrom. Will the states not spend before that happens? That means this man has no grasp of the national economy and what is practicable. He might not even realize it in 8 years.

many people this obi is deceiving doesn’t understand economy so they just swallow everything hook line n sinker especially when he starts quoting figures

Buckeyemedia1:
Electricity isn’t rocket science, but how can you have electricity, when you don’t want to pay for it?

How can Nigeria the most industrialized country in West Africa have the lowest electricity tariff in West Africa because of government subsidy?

Which foreign company that has the expertise will invest their money?

Why should the poor be paying subsidy for the rich people like Dangote Industries?

u don’t have to measure d whole Nigeria with whatever happens where u are

In my side we pay electricity bill so what are u talking about?

This Peter obi is always a paper tiger analyst with no feasible way to solve d problem

Reality3080:
u don’t have to measure d whole Nigeria with whatever happens where u are

In my side we pay electricity bill so what are u talking about?

This Peter obi is always a paper tiger analyst with no feasible way to solve d problem

How many people have electricity meters in Nigeria? Can you swear that you & your neighbors don’t bypass your meters?

Reality3080:
u don’t have to measure d whole Nigeria with whatever happens where u are

In my side we pay electricity bill so what are u talking about?

This Peter obi is always a paper tiger analyst with no feasible way to solve d problem

You represent less than 0.002 of Nigerians, How many people have electricity meters in Nigeria? Can you swear that you & your neighbors don’t bypass your meters?

I am not referring to people like you, how much electricity do you consume? an industry in your locality, can subsidize your electricity for you for a whole year because of their presence, my late dad did it back then in the 1980’s when he exported crepe & crumb rubber.

SmartPolician:


I am afraid you are not making any sense. Fyneguy raised an important point and I expected an intelligent response from you, but you are going about writing aboki up and down. Buhari is not borrowing for consumption; all loans are tied to projects.

I think what Peter Obi needs to explain to Nigerians is how he plans to replace the sharing formula with production formula because the states rely heavily on the resources from the center to run. The report that came out yesterday says only Lagos and Ogun States can run without depending on federal handouts.

Buckeyemedia1 is also right about the presidency not having power over the revenue-sharing formula because it's backed by an act of parliament. No president can easily reverse this feeding bottle system without the help of the NASS.

Nairaland needs people who think critically to add value to this forum

God bless u,anytime Peter obi starts dropping figures his supporters lose their mind without thinking of feasibility.

How can u change a system without creating an alternative?that person will end up creating more problems like buhari

He stopped importation without a clear cut pattern n inflation set in,this is obviously d same thing Peter obi wants to do

The question they should ask him is,will all states start producing something immediately n making money instantly or how long will it take?

Let’s know d number of years we are to achieve this so we won’t find ourselves in more messy situations

Buckeyemedia1:
How many people have electricity meters in Nigeria? Can you swear that you & your neighbors don’t bypass your meters?

we don’t bypass.

This is d problem with weak people like u,u assume n believe u are right.guy that u do it doesn’t mean others do it,in my lodge we buy card once our meter starts giving us d red light so what are u talking about

Even houses without prepaid meter pay light bills cos their light will b disconnected n they even pay more cos they estimated Billings.

Guy just say what u know cos where I stay we pay for what we use