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Nairaland Forum / Nairaland / General / Politics / Debt Servicing Gulps Ondo, Osun, Two Others Allocations (12480 Views)
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Debt Servicing Gulps Ondo, Osun, Two Others Allocations by Millimann: 10:08am On Apr 05 |
Most of the Federal Accounts Allocation Committee funds for Osun, Ondo, Kaduna and Cross Rivers states will be used in servicing debts this year, findings by The PUNCH have shown. https://punchng.com/debt-servicing-gulps-ondo-osun-two-others-allocations/ 1 Like 1 Share
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Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by mrvitalis(m): 10:15am On Apr 05 |
I don't really know why states are crying The back bone of any government around the world is property tax There are over 250,000 houses in each of these stated in city n towns Valued at a minimum of 10 million to 500 million Say average of 35 million A property tax of 1% value of house is not bad 3% is ideal.. So let's go to 1.5% That's easy 131 billion But once u do this know u must work, Know street have to be paved Streets have to be clean Roads must work Know propaganda of tribe and religion won't work Maybe these are the reason they don't go for it since they have enough to steal but not to work 27 Likes 4 Shares |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by oluztx: 10:28am On Apr 05 |
SW states and borrowering. Makes sense why they pad their IGR to keep borrowing. Padded IGR means lower debt ratio to keep borrowing and using that borrowed funds to fund recurrent expenses. The cycle continues! 53 Likes 10 Shares
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Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by izombie(m): 10:35am On Apr 05 |
They only know how to borrow. Government after government Create avenues for your state to make money, dem say no. 34 Likes 5 Shares |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by igwebuike01: 10:52am On Apr 05 |
SW the borrowing Capital with nothing to show 50 Likes 6 Shares |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by Penguin2: 11:04am On Apr 05 |
See how they used debt and rendered Adeleke incapable of doing any reasonable thing in Osun. By the time debt is deducted, the poor man will have nothing left for infrastructure except for salaries. After you will see idiots asking what Adeleke is doing in Osun. 65 Likes 10 Shares |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by carterguccy(m): 11:12am On Apr 05 |
See all of them up there wailing like pigs that they are! 38 Likes 2 Shares
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Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by richiemcgold: 11:42am On Apr 05 |
Aketi really plunged Ondo State into heavy debts with no tangible infrastructures to show for it. Seven years of governance just wasted for nothing. The current governor that recently took over is not even doing better. Ondo has just been static for the last seven years. The thing dey vex me walahi. 25 Likes 3 Shares |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by MadamExcellency: 11:52am On Apr 05 |
Penguin2: People are asking for food to stay afloat in life under this harsh economic regime of Ahmed Tinubu while one ethnic juggernaut is requesting the Western Governments float an Airline. 35 Likes 5 Shares |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by Christistruth00: 12:00pm On Apr 05 |
mrvitalis: You cannot Tax people out of existence 43 Likes |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by mrvitalis(m): 12:07pm On Apr 05 |
Christistruth00:You are only taxing house owners 1 Like |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by Truths9ja: 12:19pm On Apr 05 |
Penguin2:so tell me who plunged Osun State into debts. Osun state is currently receiving over #7b in FAAC . How much is the Fg deduction from Osun State? You better defend this guys with wisdom and not propaganda and lies. Lagos is the most indebted State in Nigeria 🇳🇬, Still Lagos state government keep on increasing in revenue. Ade dancer done failed woefully in governance 2 Likes 1 Share
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Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by Objectivist04: 12:22pm On Apr 05 |
mrvitalis:You definitely do not know what you are saying Average value, of houses in osun and Ondo N35m ? Do you even know the types of houses that litters those states ? Maybe you need to visit, we are talking about state capitals that still have mud houses everywhere not to talk about houses in other towns and villages. South East governors can pull that through but they need to tar all the streets with street lights or else no one will pay 31 Likes 3 Shares |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by Objectivist04: 12:29pm On Apr 05 |
I have been wondering why nothing is happening in Ondo, osun and ekitit. It is like those states don't exist, honestly south west leaders are the worst in this country. Most of their governors are doing nothing but info the people are fixated on Abia state. I have been shouting here is ekitit and Ondo still exist in Nigeria ? 16 Likes 2 Shares |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by PHIPEX(m): 1:26pm On Apr 05 |
mrvitalis:You are funny IGR is useless if the same people generating it are stealing and wasting it away. Nigeria does not have a revenue generation problem, we have sensible expenditure problem. If you like tax every living and non-living things in your state to death and generate the highest IGR, if same wasteful spenders and criminals are managing it, it becomes completely useless to the citizens. How come the states with the highest IGR in the country are not the best in infrastructure development?? 5 Likes |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by ItisWell22(f): 1:26pm On Apr 05 |
…and the government of the affected states now have excuse for their falling short of the people’s expectations. 😢 God help our country. 🙏🤲 |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by GigdraftAdvert: 1:27pm On Apr 05 |
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Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by christejames(m): 1:28pm On Apr 05 |
El Rufai really wrecked Kaduna state treasury... I know my governor Abiodun is toeing same path but Olodumare will not allow him to succeed. |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by FatherOfJesus: 1:28pm On Apr 05 |
Ndi IGR, but debt Wan kill them 3 Likes |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by onecansee: 1:28pm On Apr 05 |
The oil produce in ondo state is more than delta state. |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by LordGuru1: 1:29pm On Apr 05 |
Living as the Owners of the Scientifically-proven most Fertile Land in the World and still borrowing because of lazy selfish decision not to do the Needful. Yoruba Land should return to Agriculture to Feed themselves and Export to Feed the World like Awolowo's Time! 2 Likes |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by happney65: 1:31pm On Apr 05 |
That's the issue we have been talking about all these while. Most of our states are not viable. Until true restructuring is done this is what will be happening That is why it is very few states that are viable. E.G Lagos. And until you live in Lagos you cannot make it. I don't know of any other country in the world like that. |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by israelmao(m): 1:31pm On Apr 05 |
Debts shouldn't be excuses for them not to perform,every state has debt it is serving.And why are the big states like Kaduna and Cross Rivers with great resources should rely solely on FAAC?What are they doing with their IGRs? 1 Like |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by clarocuzioo(m): 1:33pm On Apr 05 |
kk |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by Provesto: 1:33pm On Apr 05 |
Every thing is fucvking wrong! The whole is in decay! The governors are all moving mad! No purpose. No sense of direction! 1 Like 1 Share |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by edogu(m): 1:34pm On Apr 05 |
mrvitalis:And the house owners especially landlords will in return transfer it to tenants. If the tenant is using it purely for commercial purpose, he or she will in return transfer the burden to customers. There's nothing wrong in all these. But how do tax people when they're not seeing the benefits like infrastructures. How do you tax people when the economy is stagnant. 1 Like |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by Omoapena(m): 1:36pm On Apr 05 |
All this rural states has to boost their IGR by creating what will attract buyers from modern cities like Lagos, Abuja and port Harcourt. By doing so, they will be able to pay their civil workers consistently... Their Governors needs to look at what to invest on that will drive potential buyers from modern cities |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by CorrectionFLuid: 1:42pm On Apr 05 |
hHigh gHeeeee hHarrrrr
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Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by Izuchukwu70: 1:42pm On Apr 05 |
Penguin2: Didn't he promise to clear the debts in 6 months after election? I remember him boasting that he will clear the debt during the debates and the former governor was reminding him to always tell the truth. |
Re: Debt Servicing Gulps Ondo, Osun, Two Others Allocations by Menclothing1: 1:43pm On Apr 05 |
Uk without resources are doing well in infrastructures We need to learn good governance Increase tax Increase wages Reduce government salaries they should be paid like teachers Until Then Nigeria moving like snail |
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