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Nairaland Forum / Nairaland / General / Politics / Yoruba Commonwealth and Politics (690339 Views)
OPC - Faseun & Adams Unite For Security Of Yoruba Commonwealth / SEUN - Re: Yoruba-commonwealth-politics / Goodluck Jonathan Returns From Commonwealth Assignment (photo) (2) (3) (4)
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Re: Yoruba Commonwealth and Politics by Ritchiee: 1:01pm On Nov 13, 2015 |
Eastlink:Thanks all the same...ciao |
Re: Yoruba Commonwealth and Politics by Shymm3x: 1:03pm On Nov 13, 2015 |
Ritchiee According to the stat you posted. Lagos is indebted by N1 trillion, while the FG has N6 trillion. How the fvck did that happen? ![]() |
Re: Yoruba Commonwealth and Politics by veraponpo(m): 1:05pm On Nov 13, 2015 |
Ritchiee: It is not the debt that is the problem but the inability of the governors to raise IGR and reduce their recurrent expenditure. It is not the debt but how to manage it. We call it Leverage or Gearing in Financial Parlance. |
Re: Yoruba Commonwealth and Politics by Ritchiee: 1:15pm On Nov 13, 2015 |
I am sorry my leaned Omoluabis,when did these debt become so scary because in April 2006, Nigeria became the first African country to fully pay off its debt owed to the Paris Club. This was structured as a debt write off of approximately $18 billion and a cash payment of approximately $12 billion. How did our GOVERNORS in the 5 SW states incur this humongous debts?What did they do with these scary amounts...? State Amount Owed(2014) 1) Lagos $1,020,410 674 billion *the most by any state and over 1/3 of the total amount owed by 36 states* 2)Ogun $116,689,249 million 3)Ondo $51,439,910 million 4)osun $73,404,212 million 5)Oyo $80,112,064 million TOTAL $1,342,056,129 billion equivalent to N 214,717,000,000 billion Naira Sub-Total amount owed by 36 states in Nigeria = $3,013,216,977 billion |
Re: Yoruba Commonwealth and Politics by Ritchiee: 1:43pm On Nov 13, 2015 |
veraponpo:We know that leveraging is to use debt to finance activity or activities.For example, one usually borrows money in the form of a mortgage to buy a house. One commonly speaks of this as leveraging the house. Likewise, one leverages when one uses a margin in order to purchase securities. A company with much more debt than equity is generally called "highly leveraged." Too much leverage is thought to be unhealthy.OUR 5 SW GOVERNORS LEVERAGING IS THREEMUCH.I BELIEVE THEY HAVE SPENT THIS MONIES LAVISHLY ON THEMSELVES.Many firms use leverage in order to expand operations.Ask yourself,my beloved brother,what exactly have they expanded? ...WHICH ACTIVITIES IN THE SW HAVE OUR 5 GOVERNORS FINANCE, MY BROTHER ![]() |
Re: Yoruba Commonwealth and Politics by WIZGUY69(m): 1:49pm On Nov 13, 2015 |
Ritchiee: Bro. please those amount should be in naira not in dollar. |
Re: Yoruba Commonwealth and Politics by Ritchiee: 1:54pm On Nov 13, 2015 |
WIZGUY69:Thanks,bro.But it is in dollars.Look at this...
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Re: Yoruba Commonwealth and Politics by WIZGUY69(m): 2:08pm On Nov 13, 2015 |
Re: Yoruba Commonwealth and Politics by jstbeinhonest(m): 2:23pm On Nov 13, 2015 |
Re: Yoruba Commonwealth and Politics by superstar1(m): 2:27pm On Nov 13, 2015 |
The onus lies on us to start the campaign against this fraudulent people, that plunged our states into irredeemable debt. They stole the money for their great grand children and they expect the children of.others to repay it. Osun remains the worst. There is no value for money in anyway. There is no correlation between the indebtedness and the infrastructure on ground at all. 2 Likes |
Re: Yoruba Commonwealth and Politics by zimoni(f): 2:28pm On Nov 13, 2015 |
Shymm3x: Well said Duke. Shymm3x: I hate political praise-singers with passion. They are nothing but saboteurs. They will never say the truth laye. The question is, HOW DO WE GET OUT OF THIS MESS? HOW DO WE PAY THE DEBTS? I'm tired mehn. O sun mi. |
Re: Yoruba Commonwealth and Politics by jstbeinhonest(m): 2:33pm On Nov 13, 2015 |
superstar1: I am of the opinion that we start an hashtag and tweet at the official accounts of the state govts. 1 Like |
Re: Yoruba Commonwealth and Politics by Nobody: 2:35pm On Nov 13, 2015 |
Shymm3x: This is why I avoid APC and PDP threads, they never make any sense to me because they're both doing the same things - trying to sell their parties not to sell good life to the masses. The political jobbers will never discuss how their party members are poorly performing, accruing debts and abandoning projects. SWest folks shout how SEast governors mismanage their allocations not knowing worse is happening in our own backyard. I don't know what can be done; the percentage of the population sucked into the political party hysteria is higher than the percentage of realists like you. 1 Like |
Re: Yoruba Commonwealth and Politics by zimoni(f): 2:37pm On Nov 13, 2015 |
Bro Ritchiee, That of Lagos is in billion $ But the other states (governed by brainless, clueless, unproductive and useless governors) are in millions $ Please make amendment. |
Re: Yoruba Commonwealth and Politics by sanmibukunmi: 2:38pm On Nov 13, 2015 |
am glad our eyes are now being opened to the havoc being caused by our southwest leaders. am happy we can now see that they have started mortgaging the future of our unborn kids with debts. we need a new set of leaders and we need it fast. we need technorats, visionaries , people with sound mind people who can see the future and prepare us for upcoming events. this set we have now are just there. they have no idea what leadership is all about. during fashion's' screening , I watched as he tried to defend his huge debt in Lagos saying big economies are always indebted. and I was the really ashamed because of all the over 100 senators we had, no one was intelligent enough to counter fashola and tell him debt is not always the way. mehn this country is messed up. I told my friend last week the there is a woman somewhere pregnant with tomiwa. tomiwa does not know what's happening but tomiwa is already in debt......future unborn generations have been put in debt by the reckless attitude of our so called leaders now what will the future hold for someone that is yet to be born but already in debt...like I said earlier, we need a new crop of leaders and we need them fast. |
Re: Yoruba Commonwealth and Politics by zimoni(f): 2:41pm On Nov 13, 2015 |
superstar1: Egbon, I have given up on that BASTARD called AregbeUseless. The Oloriburuku Somebody said "I can't pay salaries anymore because banks have stopped giving me loans". Must banks give the Oloriburuku Somebody loans forever? Are banks owing Osun State? Our Governors are nothing but FAILURES. I'm tired mehn. |
Re: Yoruba Commonwealth and Politics by Shymm3x: 2:50pm On Nov 13, 2015 |
veraponpo: How can you even raise the IGR to create a balance when the recurrent expenditure alone is already running you into a hole? And who's borrowing these mofos money when they know they don't have capacity to pay it back? |
Re: Yoruba Commonwealth and Politics by Ritchiee: 2:52pm On Nov 13, 2015 |
Shymm3x:I am sorry,my lovely bruv,I didn't see this... That stat is from the DMO.Very authentic.Actually,the FG is owing 70% of the debt. |
Re: Yoruba Commonwealth and Politics by sanmibukunmi: 2:53pm On Nov 13, 2015 |
zimoni:well we can start by getting this sort of info to our youths. a lot of our youths don't know all this. dey are just following politicians they have no idea what is being done to their future. look ever since this thread started, not up to 100 different people have commented. there are only about 2 million ppl on nairaland its self of which just about 500k is Yoruba. and not all of them are regular visitors. now, that's about 500k out of about 30 million youths in Yoruba land. we need to learn every one know let's take this information we have to the streets, to our schools, offices , market places. let's letbppl know the dire future ahead of them. from the literates to the illiterates. from the learnerds to the unlearned. we need to let then know so that when elections come up, people will ask the right questions. when people start asking the right questions from leaders, they will know people now know much more than they think. I believe information is power and one of the problems we have via ignorance. let's inform people around us the way we are heading into let's show then the proofs and stats of our present situation and believe me you,it won't be long before we start getting it right |
Re: Yoruba Commonwealth and Politics by Shymm3x: 2:56pm On Nov 13, 2015 |
9jacrip: We need a revolution - these folks are accursed bastards. They're running Yoruba states like a broke heifer who borrows money to celebrate owanbe parties. And these are plonkers they call technocrats? - they're a waste of human flesh. At least SEern govs, despite how useless they're, aren't running their states into massive holes with debts. Even with Lagos, what's there to show for the ridiculous debt profile? Ogun? Oyo? Ondo? I won't even talk about Osun and Ekiti cos they have thrown both states into the bottomless pit. I want to hear their excuse - utter useless monkeys. 1 Like |
Re: Yoruba Commonwealth and Politics by WIZGUY69(m): 2:57pm On Nov 13, 2015 |
Re: Yoruba Commonwealth and Politics by zimoni(f): 2:58pm On Nov 13, 2015 |
sanmibukunmi: I saw the Oloriburuku Somebody too, I felt like breaking the screen of the tv in my office when the goat started blabbing. And the brainless senators could not counter him, they made him look like a star. Fashola is nothing but an over-rated average achiever. I can say it anywhere. There are lot of Yoruba people who can do better. We are in trouble. Southwest is in deep trouble. These goats are ready to burrow more. Before the Oloriburuku Somebodies are voted out in 2018/2019, they would have incurred debts in trillions of naira. We don enter one chance. PDP is not a way out either. I think a new political party is what we need. Otherwise, I fear for the future of our unborn children. Sad.
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Re: Yoruba Commonwealth and Politics by Shymm3x: 2:59pm On Nov 13, 2015 |
Ritchiee: These folks destroyed Lagos as well. FG owes N6 trillion. While Lagos owes N1 trillion. Cray! 1 Like 1 Share |
Re: Yoruba Commonwealth and Politics by Shymm3x: 3:00pm On Nov 13, 2015 |
zimoni: Look at the pilfering bastard with brown teeth looking like a sick monkey. ![]() ![]() ![]() www.nairaland.com/attachments/3070392_tinubbujpeg9efa1370e7bf05343159ce052bc8ee15_jpegdb00dd1954996076954ac764c03308de |
Re: Yoruba Commonwealth and Politics by Ibebe: 3:06pm On Nov 13, 2015 |
The USA wholes trillions in debt, butt hey have something to show for it in: 1. Education 2. Military 3. Tech 4. Economy 5. Infrastructure . . . . What does the SW have to show for it? The level of development in Lagos does not balance out with the amount of loans we borrowed. I really want to know where Osun/Ekiti/Ondo keep the money they borrowed. Imagine, Fayose is going to take out billions of dollars in loan to build an international airport. Whose going to pay back that money? |
Re: Yoruba Commonwealth and Politics by Shymm3x: 3:08pm On Nov 13, 2015 |
Can anyone who has access to the total number of workers in the state ministries across the SW post it here. Let's see how these folks are spending that much on recurrent expenditure. Let's also see the companies they're operating the PPPs with to know who owns the so-called "private" companies. Laudate please help us out. Your input is needed. 1 Like |
Re: Yoruba Commonwealth and Politics by Nobody: 3:09pm On Nov 13, 2015 |
[b]For God's sake how will I be earning 10k per month and be borrowing 50k from the bank.Who does that? Maaan some of these guys don't think.Common sense Despite the number of Industries springing up in Ogun state, why is the IGR so low? Look at the gap between Lagos and other South-west states Mr otondo Mimi-coke just borrowed another N7billion oo Komonsense Solutions Cut down the population of civil service workers by encouraging vocations.Not everyone should be in the Civil service Encourage entrepreneurship so more private sector jobs can be created.If we lay off government workers through inefficiency, they can move to the private sector and those on the payroll of the Government will reduce Raise Taxes:Taxes should be raised.Companies should pay more tax.This is where I fault Ogun state Cut Spending: Increasing tax is not enough,some of these Governors are just wasteful.Patronize local firms because Its cheaper.There's Dantata & Sawoe Construction,there's Costain west Africa.I believe these foreign construction companies are cheating us.Projects that should ordinarily cost $2billion will cost $7billion .Why?[/b] |
Re: Yoruba Commonwealth and Politics by Nobody: 3:15pm On Nov 13, 2015 |
Re: Yoruba Commonwealth and Politics by Ibebe: 3:16pm On Nov 13, 2015 |
Aareonakakanfo: Can you imagine that Nigerians complained when Buhari stopped the patronization of foreign construction companies? These foreign companies thinks Africans are dumb and backwards. They will charge as much as legally possible. When we have local engineers and contractors, why are we hiring foreign labor? When we have local cement companies, why are we buying from foreign companies? I heard that Aregbesola used to be a mechanic. How is someone like that supposed to understand investment/economy/debt vs revenue etc? |
Re: Yoruba Commonwealth and Politics by zimoni(f): 3:17pm On Nov 13, 2015 |
Cursed be the day people voted Aregbesola in Osun State. Woe betides the judge who pronounced AregbeUseless as the authentic winner of the 2007 gubernatorial election. If Osun people had known AregbeUseless would ruin Osun State completely, we wouldn't have voted for the Oloriburuku Somebody in 2007. We made a mistake voting the clueless as our governor. The pics attached were taken in Oct. 2010 when AregbeUseless was declared winner of the 2007 gubernatorial election by the Unfortunate Judge who put us in this mess.
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Re: Yoruba Commonwealth and Politics by FFKfuckedBIANCA: 3:20pm On Nov 13, 2015 |
jstbeinhonest:we are in deep shi't |
Re: Yoruba Commonwealth and Politics by Nobody: 3:21pm On Nov 13, 2015 |
I think we've done well criticizing and pointing out errors, what we need to start doing now is offer solutions 2 Likes |
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