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Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States - Politics - Nairaland

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Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by papayeye: 9:17pm On Jun 19, 2016
Considering the dwindling revenue and huge financial burden being faced by the state, Akwa Ibom State Government at the weekend confirmed its interest to key in to the second round of bailout facility or fund provided by the Federal Government.

The State Commissioner for Finance, Mr Akan Okon, dropped the hint in his office at a briefing jointly held by the State Commissioner for Local Government and Chieftaincy Affairs, Mr Victor Antai, on the state economy.

He said the state has all the requirements to take the loan.

The Commissioner stressed that the facility was very timely, hence the state government’s readiness to avail itself of the window being offered by the new loan to meet the needs of the state.

He disclosed that the state received N5. 3 billion as allocation from the federation account in the month of May, while its wage bill stood at N4.8 billion, making it difficult for the state to meet its financial obligations.

“I want to state that in the month of May, we received N5.3 billion and the wage bill was N4.8 billion. With this you can see that government is in a very tight situation.

“With the dwindling finances experienced in the state, the state government has to key into the window of the new loan facility being offered by the Federal Government,” the Finance Commissioner said.

Further details later


http://www.thisdaylive.com/index.php/2016/06/19/akwa-ibom-confirms-interest-in-fgs-n90bn-loan-facility-to-states/
Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by Rawblings(m): 9:20pm On Jun 19, 2016
It's a good move though

1 Like

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by SamuelAnyawu(m): 9:23pm On Jun 19, 2016
Akwa Ibom the state with the highest allocation in Nigeria still wants to access the federal governments bail out? cool cool cool

Most of our state governors don't really have any input in their respective states governance cool cool cool

Smh cool

50 Likes 1 Share

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by NigerDeltan(m): 9:23pm On Jun 19, 2016
Lazy governors everywhere

19 Likes

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by LessNoise: 9:27pm On Jun 19, 2016
All these lazy governors know of is how to share,beg,collect and their convoy been reeking of 2016 car model bulletproof cars when no one is ready to kill you ....

14 Likes 1 Share

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by modath(f): 9:38pm On Jun 19, 2016
shocked shocked.... Highest Allocation, IGR from IOC & sundry service companies and still can't keep it together SMH

What is that "world class" hospital doing by the way? A bit of Nigeria's Medical capital flight should be going there (seems it's all hype no substance) & not only to India......

31 Likes 1 Share

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by LieDetector(m): 9:53pm On Jun 19, 2016
Udom is yet to commission any phenomenal project in akwa ibom state.... Akpabio may be guilty of the charges of embezzlement leveled against him but he will be remembered for the smiles he's put in the face of akwaibomites...


Akwa ibom ayaya

10 Likes

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by omenka(m): 9:59pm On Jun 19, 2016
Imagine a state like Akwa Ibom grappling with insolvency. Wonders shall never end.

During the time of plenty, instead of those oafs building structures that would cushion the effects of rainy days such as we are experiencing now, they rather expended their resources on hosting international superstars like Beyonce, and sponsor celebrity weddings!!

People blinded by hatred for anything not of theirs cheered them on and asked that the charade be sustained- now we have a full blown crisis in our hands.

30 Likes 1 Share

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by Abagworo(m): 10:02pm On Jun 19, 2016
Akwa Ibom getting the allocation equivalent of the enture Southeast combined still owing workers for several months and seeking bail out. Not justifiable.

20 Likes 1 Share

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by aieromon(m): 10:17pm On Jun 19, 2016
Any governor applying for a bailout should go on an excursion trip to Anambra and Lagos states to see what real governance is all about.

The days of waiting to share monthly allocations are over. Every state should look inwards and get down to generating wealth for the state and its people.

5 Likes 1 Share

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by NigerDeltan(m): 10:30pm On Jun 19, 2016
omenka:
Imagine a state like Akwa Ibom grappling with insolvency. Wonders shall never end.

During the time of plenty, instead of those oafs building structures that would cushion the effects of rainy days such as we are experiencing now, they rather expended their resources on hosting international superstars like Beyonce, and sponsor celebrity weddings!!

People blinded by hatred for anything not of theirs cheered them on and asked that the charade be sustained- now we have a full blown crisis in our hands.

Mtsheeew dis dude again?

5 Likes

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by obongitiad(m): 10:50pm On Jun 19, 2016
If this news is true, then am very much disappointed in Udom finally.
How can dis be coming from a former bank manager? Iyanmi! shocked

5 Likes 1 Share

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by obongitiad(m): 10:50pm On Jun 19, 2016
If this news is true, then am very much disappointed in Udom finally.
How can dis be coming from a former bank manager? Iyanmi! shocked

1 Like

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by chiscodedon(m): 11:03pm On Jun 19, 2016
is ok
Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by humbleluke: 8:08am On Jun 20, 2016
Rawblings:
It's a good move though
explain

1 Like

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by ricsman(m): 8:09am On Jun 20, 2016
hmmm even with the oil money
Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by iaamxavier(m): 8:09am On Jun 20, 2016
All this money will still end up in the hands of corrupt politicians like akpabio and the rest!

4 Likes

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by kay29000(m): 8:09am On Jun 20, 2016
They should sha use it wisely when they get it. No money needs be wasted at this point in Nigeria.

1 Like

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by martineverest(m): 8:11am On Jun 20, 2016
akwa ibom of all places?..its clear that our govnors are senseless and goaless..

4 Likes

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by Timba24(m): 8:11am On Jun 20, 2016
imagine. Thief ole barawo. Just 4 their own benefit

2 Likes

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by mccoy47(m): 8:13am On Jun 20, 2016
4.8 billlion? cry
Am not surprised!
The way civil servants blow money in dat state ehh.
D agency I served in my nysc days..
My boss had a 600k upkeep allowance per month!
And the agency had a 1.3billion yearly allocation! With less than 70 staffs!

7 Likes

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by martineverest(m): 8:14am On Jun 20, 2016
akwa ibom and bayelsa allocationscombined is more than that of south west or south east....plus the revenue they get from oil companies,they are still clamouring for bail out.smh

9 Likes

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by chikel2000(m): 8:14am On Jun 20, 2016
They keep borrowing n we don't see d outcome, Naija my country

2 Likes

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by drey22(m): 8:15am On Jun 20, 2016
i came here to read comments and help sports fans with $6
Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by zone11: 8:16am On Jun 20, 2016
Adiokdie yak Alwa Ibom adia ke urung?
Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by comradeson: 8:23am On Jun 20, 2016
SamuelAnyawu:
Akwa Ibom the state with the highest allocation in Nigeria still wants to access the federal governments bail out? cool cool cool

Most of our state governors don't really have any input in their respective states governance cool cool cool

Smh cool


My dear friend,you are so right.Most of these governor are totally useless.They don't have any idea of how to generate funds independent of federal allocation. These governor are wasteful even in the present economic situation. They fly private jets but can pay salaries.The whole problem is because of the type of fiscal policy Nigeria operates.Every state is supposed to generate its own resources so there can be competition for development. Every state should develop at its own pace so that those states who have no intention to progress will be left behind.The current revenue allocation policy will never take Nigeria anywhere.
Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by buJu234: 8:24am On Jun 20, 2016
i think ; all these Oil rich Niger-delta states are not broke;

but they are declaring bankruptcy because the feel that the Northern states & some other states are jst sitting down crying bankruptcy and the govt. will give them free bail-out fund; which the states will never pay back whereby making those Northern states politicians richer.

so they Oil rich Niger-delta states politicians decided to do same

2 Likes

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by BahdXitixenn: 8:50am On Jun 20, 2016
God help us oo
Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by Ijaya123: 8:55am On Jun 20, 2016
When will NDA go blow up the governor house in Akwa Ibom for mismanaging their resources?

4 Likes

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by AnodaIT(m): 9:01am On Jun 20, 2016
Jamboree continues

You can't really blame them, Akpabio promoted the lifestyle of politicians to a certain unsustainable level that they are still finding it difficult to adjust to reality. Some are still even saying that if Akpabio was around they will still be having more money to spend quite uninformed that the economic crunch is nationwide.

Out of the N4.8bn wage bills they keep shouting about, 70% of the amount is paid to political office holders including jumbo allowances and unnecessary apparatus of office.

4 Likes

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by ekefre4(m): 9:24am On Jun 20, 2016
NigerDeltan:


Mtsheeew dis dude again?
Did he say something wrong?

1 Like

Re: Akwa Ibom Has Interest In FG’s N90bn Loan Facility To States by cyril700(m): 9:43am On Jun 20, 2016
He is talking of 5.3 billion allocation, so what of the internally generated revenue such as taxes and settlement from oil firms? That one was swallowed abi?

1 Like

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