BlackTechnology:



Do you know why your ideal is wrong.?


Development , Success , Victory etc are achieve easily when division of labour is encouraged than when one person, arm of government etc handle progress alone.

atlwireles:
Calling for fiscal federalism is against everything APC and the incoming government represents. That's not going to happen, their leadership is preparing to run a collect and share "allocation process". 2.3million barrels of crude oil is all they know. Anybody expecting anything different is wasting their time.

Whynotthetruth:



I am for good governance not blackmail like you do mostly here hence I pointed out your hypocrisy to you...Rochas of Imo state, Aregbesola of osun state etc has messed up the state treasuries notwithstanding Rochas huge allocation while aregbesola gets a modest allocation as compared to states in their cadre like Anambra which isn't an oil producing state yet but doing far better than these APC states with no single debt and is even increasing salary of its workforce by 15% more in the midst of so-called scarcity...

When these APC states mess up, instead of the masses holding them accountable as grassroot government, they shift the blame to FG to hide their lack of leadership and sincerity to electorates...To me, What reason has Rivers state to borrow and even owe workers Lagos state has no reason borrowing as much as it is doing now with nothing to show for it eg $1Billion loan for light rail whose delivery date was July 2013. Till now, there's nothing to show for it and the loan is there to be repaired...But APC and its minions can't see such...they only see Jonathan...ndonu

BlackTechnology:




May God help them if militancy returns

Jorussia:
What are the mineral resources in d se that is currently being adequately annexed,apart from IMO and Abia with some amount of crude oil?

PassingShot:


You're not making any point. Are you suggesting that there is no division of labour without fiscal federalism?

What's your point pls?

BlackTechnology:




The fastest way to

diversify the economy

strengthen the economy

Etc

is through Fiscal Federalism

atlwireles:
Calling for fiscal federalism is against everything APC and the incoming government represents. That's not going to happen, their leadership is preparing to run a collect and share "allocation process". 2.3million barrels of crude oil is all they know. Anybody expecting anything different is wasting their time.

Sweetguy25:
The crux of the matter is that even after all the cost cutting measures have been implemented, the money received or saved from those measures will still be too small to achieve anything important.
The annual budget will still hover around 4 or 5 trillion naira, an amount which cannot sustain the education sector.

obi4eze:
Again you beat about the Bush. Was it the APC governors that borrowed the 50 billion dollars?
If you can't answer simple question then please don't quote me again.

PassingShot:


How did you know? Just asking.

BlackTechnology:



My point is


Empower the LG and States to be the vanguard of development through fiscal federalism

atlwireles:


That you have no plans for revenue but 2.3M barrels of crude oil. Maybe your cocoa and groundnut will show up overnight.

Whynotthetruth:



ignorance is bliss...did Jonathan borrow any $50billion dollars...do you know what is $50billion dollars?...how much is our budget worth?...kindly drop your evidence here ...you just run around insulting people instead of using that valuable time to educate yourself...

PassingShot:


How did you know? Just asking.

Whynotthetruth:



ignorance is bliss...did Jonathan borrow any $50billion dollars...do you know what is $50billion dollars?...how much is our budget worth?...kindly drop your evidence here ...you just run around insulting people instead of using that valuable time to educate yourself...

omenka:
[s]I wouldn't be doing my conscience any good if I ignored this thread just as I do every other initiated by this op.

Still trying hard to promote a useless blog.

May I never progress in my life if I ever click on that link.

Reality is finally hitting a home run with the purveyors of the killer party ripping themselves apart. FFK, David Mark, Muazu, Olisa Metuh, all of them throwing lethal jabs at eachother. Their online scumscrubbers have no choice but to tone down their inane rhetoric and turn into unsolicited advisers.

This is one veiled little baby step in trying to return back to the fold of progress minded individuals. Your antics aren't gonna fly boy. Look for another lease of life. There would be no protection or ministerial aide position for you here.

Save all your advice for the many PDP minions like yourself on this forum. Hard times lie ahead for you lot. You would need those economic advice more than ever.[/s]

PassingShot:

---

Your contributions are not on the same maturity level as others here.

barcanista:
Election is over, post election banters should be winding up as the incumbent administration run her last lap.

During the electioneering period, President-elect Muhammadu Buhari and the ruling party-elect APC made lots of promises. Some of these promises ranges from provision of 24/7 electricity, provision of 3 million jobs annually, ending corruption to standstill, reduction of recurrent expenditure and increase in capital expenditures, provision of monthly stipends for the elderly, disabled and unemployed, and 24 months payment to Youth Corps members (1 year each for service and post service period) and feeding of public primary school pupils across the country. All these are in addition to numerous capital project that was promised by the government.

There are also several demands from different groups to the President-elect. The "ex-Militants" want Amnesty sustained, the Governors elected on APC's platform led by Rochas Okorocha want increased funding to states, the people in the North want an end to the insurgency, the people in the South South/South East are calling for political and economic emancipation and good leadership, those in the South West are advocating for improved governance and leadership. Everybody is making one demand or the other.


Present Reality
Nigeria's revenue is dwindling already with no hope in sight if the status quo remains. Our budget is destined to run on deficit of over N1.3 trillion, which will only add more burden on the people. The revelation by Ngozi Iweala that Nigeria had to borrow to pay wages and salaries of workers is a sign that we can't continue this way. No country can sustain when it borrows to pay salaries. What happens when the loan becomes too much that more borrowings is rejected? This will sentence us to IMF's Sturctural Adjustment Program, which will take us 100 years backward and punish generations to come.


Mistake of The Outgoing Incumbent
The grave mistake that the Incumbent President Jonathan made was to give in to the 36 States Governors in 2010 led by Bukola Saraki and later by Rotimi Amaechi to share the $25 billion Excess Crude Account among the FG, States and LGs,rather than to admonish them to look for alternative. Sadly, Nigerians never felt the impact of the so call shared dollar windfall. It only expanded the financial war-chest of the politicians and their friends. If this fund was still in place, Nigeria will have no business to resort to borrowing of less then N500b to pay salaries.


The Way Forward
Though President-elect Muhammadu Buhari made loads of promises, he should not subject himself to any form of pressure so as not to make ridiculous decision that will ruin the country in his bid to fulfil his pledge. Buhari should as a matter of urgency scrap the Amnesty Program, he should send an Executive bill to the NASS for the creation of Excess Crude Account Fund and/or any Savings fund that the country may turn to when in dire need. He should put hold to all his social programs and place emphasis on developmental programs. As a matter of importance, he should cut his entire pay package by at least 50% and encourage his Aides and Cabinet members to do same. He should also encourage his party-men to do same. The extra monies should be used as an intervention fund or for capital projects. He should also reduce his number of foreign trips and those of his Aides and Ministers. President-elect Buhari need to revisit the call for Fiscal Federalism (which he promised in 2011), so as to empower states while he creates special fund for the "not-so-viable" states and region to move the nation forward.

The President-elect should revisit our 3 existing refineries and put them in at least 90% productive state so as to reduce our dependent on imported refined petroleum product, and at the same time solve the ever increasing subsidy bills. He should strengthen the anti-corruption agencies and ensure that whoever is indicted is prosecuted and not just that, the loot of the thief is retrieved. His corruption fight should begin with members of his "caucus" and extend outside so as to win the confidence of Nigerians especially the non-Northerners. He should also send executive bill to the parliament to amend sections of our criminal laws and codes that does not reflect to the present reality.

The manufacturing sector should be encouraged along with improved electricity so as to boost our economic prospects. Insecurity ought to be addressed and should not be limited to Boko-Haram fight alone.

President-elect Buhari should do these in addition to long term economic policies for the growth of Nigeria. The success of Buhari's administration is vital for the success of Nigeria. Though in opposition, I shall always wish the administration well.



God Bless Nigeria
Credit: http://www.solomontonye.com/2015/05/economic-realities-way-forward-for.html

atlwireles:


That's their problem, we are waiting for May 29.

PassingShot:
While taking my time to dissect your write-up, let me say kudos to you for finally heeding my advice to play opposition with constructive criticism.

Modified*
Some errors in what you claim APC promised:
1. APC/GMB never promised provision of 24/7 electricity. They only promised to increase power generation/distribution year on year.
2. The 3 million jobs (actually 20,000 jobs per state) is over four years.
3. They didn't promise to "end" corruption but to fight corruption and reduce it to a manageable level
4. All their social programs have conditions attached to them. They are secondary issues and shouldn't be the priority of the incoming government. They may only attend to them when monies are available to prosecute them.



The mistake of GEJ was not only sharing the $25 billion dollars, his failure to utilize our earnings from crude sale is even bigger than sharing the ECA. Besides, you cannot blame the governors for insisting on sharing when they always came back to meet the account depleted without their knowledge and without satisfactory explanation for what the money was used for.

All your suggestions are what GMB/APC have already given an indication that it is the way they will operate by:
1. Blocking leakages
2. Leaner government
3. Persuading NASS to reduce allowances of political office holders
4. Providing incentives to recover looted funds after looking at previous probe reports
5. Merging of some ministries while also eliminating minister of state portfolios.
6. etc., etc.
All in all, the incoming government has shown capacity to do things very differently from the outgoing one.

PassingShot:


And this cannot be achieved before true federalism is achieved? Don't we currently have the LGs set up to develop their locality?

If anything, each federating state should be supported to be able to harness her God-given resources before going the way of true federalism.

Besides, why hasn't been anyone of the SS reps to sponsor a bill clamoring for a return to FF if the region so much believe in it and desire it? Why must it be initiated by the central government?

SeverusSnape:

Jealousy!!!
O*menka is green with envy, You'll just die because of ba*rcanista. Jealous children of anger!

Whynotthetruth:



...wanted to secure my seat first before I read further...nice one there...I have modified my post though...can't comment on your site...why not encourage other brethren to also support the site with articles too...dearpreye and mizmycoli as great writers can be of help

omenka:
Hahahaha. Je-what?? Humour me some more boy. You have absolutely no idea what went on behind the scenes. Some of you on this forum are simply too darn ignorant.

Whynotthetruth:


Aregbesola has shown it by his inept dependence on oil alone just like Rochas of IMO state too...so also others...and more so, they are against the confab that did a quasi restructuring of the system... More reason, the north wanted Jonathan out so as to kill the report implementation...