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SE States Combined Owe N257.74 Billion. - Politics (2) - Nairaland

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Re: SE States Combined Owe N257.74 Billion. by sorepco(m): 9:00am On Nov 03, 2017
s a state you must borrow! You cant run an effective and sustainable develooment project or governance structure without borrowing.
Even america live on borrowings. They are indebted to the tune of 1.8 trillion dollars. The whole of africa combined in the next 50 years wont be able to have such amount in their accounts combined!

Dangote lives on credit. Take away from him and he crumbles like a cookie.....

Being indebted does not mean you r poor or useless...u need credit to start projects now as you can then pay monthly or yearly.





....but nothing to show for their massive debt. [/quote]
Re: SE States Combined Owe N257.74 Billion. by legendte(m): 9:01am On Nov 03, 2017
intruxive:

There is so much in a name, ur middle monica fits u like skin.
Aregbe did not use loan money to rebuild "private" homes. He used them to build schools, roads, hospitals and other world class projects that will remain for a very long time after loan is cleared. What will ur governors leave behind?
And for the record brown roofs is a testimony that yorubas have been building with zink materials since ur ancestors were still living inside caves and mud houses with thatched roofs. Most of those buildings are pre colonial, they testify to how long we have come in civilization, but u guys have no history. Nothing to show u wr civilized b4 independence. Heyya it must be really sad been yigbo grin
Low life nigga

3 Likes

Re: SE States Combined Owe N257.74 Billion. by BiafraIShere(m): 9:02am On Nov 03, 2017
deomelo:






....but nothing to show for their massive debt.
Your brain dey touch? The SE region owes the least debt at only 7% of total debt! Ostrich, you better cry for your waste region that is already worse than Greece in terms of debt. A very poor state like Osun is owing such outrageous debt that will take many generations to offset and instead of you guys to ask Aregbe how he managed to destroy Osun, you are here calling SE that is fiscally prudent! Is that how obsessed you lots are with Igbos? Chineke Mere Unu Ebere!

5 Likes 1 Share

Re: SE States Combined Owe N257.74 Billion. by joeyfire(m): 9:08am On Nov 03, 2017
deomelo:
[s][/s]




Your irrelevant rubbish doesn't change the fact that your ipob states collectively own N257 billion with nothing to show. Shouldn't this be your primary headache. ?

grin grin shameful

South west: owing N1,056 Trillion

(no railways or pipeborne water, declining educational standards)

South East: owing N257BN (una guy Rochas is a big cause of this figure)

5 Likes

Re: SE States Combined Owe N257.74 Billion. by BiafraIShere(m): 9:10am On Nov 03, 2017
intruxive:

Development in osun is more than the entire 5 south eastern states combine
#FACT
Osun cannot even compare with Ebonyi that is the least developed SE state. Oshogbo is 98% slum and can never reach half of Owerri even in 20 years time! Its just the no man's land called Lagos that is hiding the backwardness your region embodies. Remove Lagos & SW will be worse than NE! THATS A FACT!!!

6 Likes

Re: SE States Combined Owe N257.74 Billion. by intruxive(m): 9:21am On Nov 03, 2017
legendte:

Low life nigga
shocked I tot it was legendte o, thanks for shearing ur real name grin
Re: SE States Combined Owe N257.74 Billion. by wingmanII: 9:59am On Nov 03, 2017
I attended a federal government college in the south west. One observation I noted is that the biggest tribalists and bigots are those from very poor backgrounds.
OP, see how inferiority complex occasioned by poverty and lack of proper education has made you so bigoted that you spend all your time making silly and irrelevant posts on SE Nigeria. I pray you get over your obsession one day.

4 Likes

Re: SE States Combined Owe N257.74 Billion. by Ofemannnu: 10:36am On Nov 03, 2017
BiafraIShere:
Osun cannot even compare with Ebonyi that is the least developed SE state. Oshogbo is 98% slum and can never reach half of Owerri even in 20 years time! Its just the no man's land called Lagos that is hiding the backwardness your region embodies. Remove Lagos & SW will be worse than NE! THATS A FACT!!!

lol.. How dare you compare a piggy bank(Igboland)
with central bank(Yorubaland).The size of your
small enclave (Igboland)is almost the size of
OYO state,just a part in Yorubaland and 45
million of Igbos have not been able to develop
this small enclave into eldorado.In spite of your
rituals,drugs peddling,baby factory etc and with
your late civilization,you still have brown roofs in
your small enclave.The singular evidence that
Yorubas are richer than the Igbos,are their
numerous massive industries, highest number of
private universities,private colleges,real estate
people,ICT people etc.Do not be delusional and
compare a small enclave filled with 3000 houses
with a large area where 1000000 houses are
scattered all over.Do not be like Ojuku..

3 Likes

Re: SE States Combined Owe N257.74 Billion. by prodigy24: 10:39am On Nov 03, 2017
deomelo:
[s][/s]


Your irrelevant rubbish doesn't change the fact that your ipob states collectively own N257 billion with nothing to show. Shouldn't this be your primary headache. ?

I hope you know that Osun state, Ogun, ondo ekiti and Oyo are all indebted to Anambra state?

Maybe it time to place your states on olx.

Ladies and gentlemen.
Anambra state under peter obi, invested millions of dollars in bond market, these bonds were sourced by most States in Nigeria, thereby making southwest states ,except lagos indebted to Anambra state.

4 Likes 1 Share

Re: SE States Combined Owe N257.74 Billion. by Ofemannnu: 11:13am On Nov 03, 2017
prodigy24:


I hope you know that Osun state, Ogun, ondo ekiti and Oyo are all indebted to Anambra state?

Maybe it time to place your states on olx.

Ladies and gentlemen.
Anambra state under peter obi, invested millions of dollars in bond market, these bonds were sourced by most States in Nigeria, thereby making southwest states ,except lagos indebted to Anambra state.
lol...your irrelevant rubbish doesn't change the fact
that your ipob states collectively own N257
billion with nothing to show. Shouldn't this be
your primary headache. ?

1 Like

Re: SE States Combined Owe N257.74 Billion. by fellowman: 11:25am On Nov 03, 2017
Ofemannnu:


lol.. How dare you compare a piggy bank(Igboland)
with central bank(Yorubaland).The size of your
small enclave (Igboland)is almost the size of
OYO state,just a part in Yorubaland and 45
million of Igbos have not been able to develop
this small enclave into eldorado.In spite of your
rituals,drugs peddling,baby factory etc and with
your late civilization,you still have brown roofs in
your small enclave.The singular evidence that
Yorubas are richer than the Igbos,are their
numerous massive industries, highest number of
private universities,private colleges,real estate
people,ICT people etc.Do not be delusional and
compare a small enclave filled with 3000 houses
with a large area where 1000000 houses are
scattered all over.Do not be like Ojuku..

guy but the truth is what biafralshere said is true, Ebonyi is better than Osun in everywhere, it's more developed than Osun.

you can't even compare Imo state with Osun.

3 Likes

Re: SE States Combined Owe N257.74 Billion. by fellowman: 11:27am On Nov 03, 2017
Ofemannnu:

lol...your irrelevant rubbish doesn't change the fact
that your ipob states collectively own N257
billion with nothing to show. Shouldn't this be
your primary headache. ?

but I hope you know that Southwest owes 1.5 trillion?

1.5 trillion

did you even read your pink
Re: SE States Combined Owe N257.74 Billion. by Ofemannnu: 12:17pm On Nov 03, 2017
fellowman:


but I hope you know that Southwest owes 1.5 trillion?

1.5 trillion

did you even read your pink

America owes more than 1trillion dollars.All African nations joined together cannot match them in debt but they have projects to point to.Only Osun state had done more projects than all 5 eastern states combined.Your states especially Anambra state,are salary paying state..the irony is that they are still not able to pay and in debt up to about 260 billion with nothing except a gather bridge to point to.....very pathetic.
Re: SE States Combined Owe N257.74 Billion. by Alexus23: 12:23pm On Nov 03, 2017
There is a reason I hate Yorubas with passion. Don't ask me why.

3 Likes

Re: SE States Combined Owe N257.74 Billion. by Ofemannnu: 12:39pm On Nov 03, 2017
Alexus23:
There is a reason I hate Yorubas with passion. Don't ask me why.

Yorubas hate no one.It is in your DNA.Hate could kill you in the distant future.
Re: SE States Combined Owe N257.74 Billion. by patrick89(m): 1:33pm On Nov 03, 2017
Ex-governor Peter Obi of Anambra State got me thinking. Two weeks ago, he was giving an account of his eight years stewardship and he announced some figures: N75 billion as credit balance in the state’s accounts and no debt over-hang. That figure, he said, included balance in savings and in investment. Then the big one: Anambra State under him invested in bonds issued by other state governments. Since he made that statement, I have not heard anyone say he lied. It was a combination of these that actually got me thinking —Anambra State that was not paying salaries post 1999, pre-2003; Anambra State of war and lawlessness in Chris Ngige era; the same Anambra that was home of violence and inexplicable crimes. Obi said the state he was leaving behind was not owing anybody a dime; rather, the state invested in bonds issued by other states! Then, I remembered that out of the six states in the South-West, only one has not gone to the Capital Market to take money through bond issuance. What has that told me? It means that my South-West is indebted to South East’s Anambra State — and that is serious. I know some partisan fellows will say ‘and so what?’ They can say so because for such fellows, the only reference they make to the past is using it to cover up the eczema of today. None of the founding fathers of Western Nigeria would ever imagine that a day would come when Yorubaland would owe Iboland.

Some international financial experts have warned that the current craze for bonds by African countries, including PDP’s Nigeria, will soon lead to what they call “Eurobond curse” just as the continent is wracked by “resource curse.” Some queer commentators would say the warning was directed at national governments. At the state level, the alarm bell should really sound louder. A recent report quoted Joseph Stightz, a Nobel prize-winning economist, as warning that “the financial sector loves to find people to prey on and their most recent prey are governments in developing countries.” The same is happening at the domestic level. Cash-strapped state governments should know that there are no friendly financial institutions. They are in business to make money and it does not matter how.

I do not know what economics is behind the current craze for bonds. Some are even saying bonds are no loans. What are they? Gifts? Won’t they pay back? And at what interest rate? They would even pay costs of the transaction — they call it ‘issue costs?’ Are there consultants packaging these bonds? If there are, who are they? What are their fees?

Yorubaland currently suffers unprecedented, unfortunate and insulting, venal shut-out in the affairs of the PDP Federal Government. The alternative regimes in the states ought to give reasons for hope, not debt over-hang. Nothing should be done by anyone to bond the race to a future of criminal servitude. Governments have to provide amenities, yes. But have we forgotten what our ancestors said about he that eats benefits derivable from a child even before that child is born? Exactly what Niyi Osundare described as “eating tomorrow’s yam today ”!

2 Likes

Re: SE States Combined Owe N257.74 Billion. by patrick89(m): 1:36pm On Nov 03, 2017
prodigy24:


I hope you know that Osun state, Ogun, ondo ekiti and Oyo are all indebted to Anambra state?

Maybe it time to place your states on olx.

Ladies and gentlemen.
Anambra state under peter obi, invested millions of dollars in bond market, these bonds were sourced by most States in Nigeria, thereby making southwest states ,except lagos indebted to Anambra state.

I was gonna say this! Thank you brother




Ex-governor Peter Obi of Anambra State got me thinking. Two weeks ago, he was giving an account of his eight years stewardship and he announced some figures: N75 billion as credit balance in the state’s accounts and no debt over-hang. That figure, he said, included balance in savings and in investment. Then the big one: Anambra State under him invested in bonds issued by other state governments. Since he made that statement, I have not heard anyone say he lied. It was a combination of these that actually got me thinking —Anambra State that was not paying salaries post 1999, pre-2003; Anambra State of war and lawlessness in Chris Ngige era; the same Anambra that was home of violence and inexplicable crimes. Obi said the state he was leaving behind was not owing anybody a dime; rather, the state invested in bonds issued by other states! Then, I remembered that out of the six states in the South-West, only one has not gone to the Capital Market to take money through bond issuance. What has that told me? It means that my South-West is indebted to South East’s Anambra State — and that is serious. I know some partisan fellows will say ‘and so what?’ They can say so because for such fellows, the only reference they make to the past is using it to cover up the eczema of today. None of the founding fathers of Western Nigeria would ever imagine that a day would come when Yorubaland would owe Iboland.

Some international financial experts have warned that the current craze for bonds by African countries, including PDP’s Nigeria, will soon lead to what they call “Eurobond curse” just as the continent is wracked by “resource curse.” Some queer commentators would say the warning was directed at national governments. At the state level, the alarm bell should really sound louder. A recent report quoted Joseph Stightz, a Nobel prize-winning economist, as warning that “the financial sector loves to find people to prey on and their most recent prey are governments in developing countries.” The same is happening at the domestic level. Cash-strapped state governments should know that there are no friendly financial institutions. They are in business to make money and it does not matter how.

I do not know what economics is behind the current craze for bonds. Some are even saying bonds are no loans. What are they? Gifts? Won’t they pay back? And at what interest rate? They would even pay costs of the transaction — they call it ‘issue costs?’ Are there consultants packaging these bonds? If there are, who are they? What are their fees?

Yorubaland currently suffers unprecedented, unfortunate and insulting, venal shut-out in the affairs of the PDP Federal Government. The alternative regimes in the states ought to give reasons for hope, not debt over-hang. Nothing should be done by anyone to bond the race to a future of criminal servitude. Governments have to provide amenities, yes. But have we forgotten what our ancestors said about he that eats benefits derivable from a child even before that child is born? Exactly what Niyi Osundare described as “eating tomorrow’s yam today ”!

2 Likes

Re: SE States Combined Owe N257.74 Billion. by Nobody: 2:03pm On Nov 03, 2017
Ofemannnu:

lol...your irrelevant rubbish doesn't change the fact
that your ipob states collectively own N257
billion with nothing to show. Shouldn't this be
your primary headache. ?

Does it change the fact..that your very rich region is still borrowing, indebted to this very "poor" states..
shame no go gree you state your region debts profile na to self-service on southeast and southsouth..

oya na..you don published am.. we don see..

wetin you wan make we do with am..

your hatred for igbo..is really why the yoruba states be like e be now..

and none on on nairaland is proud to say his hometown..
all na "lagos".. and yet you see them open dia "ahaa" mouth to yarn dust.. always..about east.
why deceiving demselfs with their media propaganda.
if na me alone eh.. na to ignore this folks.. a trip to the 5 yoruba states will open your eyes to this people..

na why most guys that visits NL alway smile at dia ignorance..


take lagos out of "southwest region" and see the entire southwest is a desolate land.

no apologies..
Re: SE States Combined Owe N257.74 Billion. by Alexus23: 3:01pm On Nov 03, 2017
Ofemannnu:


Yorubas hate no one.It is in your DNA.Hate could kill you in the distant future.
Fuvck off.

1 Like

Re: SE States Combined Owe N257.74 Billion. by deomelo: 3:27pm On Nov 03, 2017
bonnylight003:


Does it change the fact..that your very rich region is still borrowing, indebted to this very "poor" states..
shame no go gree you state your region debts profile na to self-service on southeast and southsouth..

oya na..you don published am.. we don see..

wetin you wan make we do with am..

your hatred for igbo..is really why the yoruba states be like e be now..

and none on on nairaland is proud to say his hometown..
all na "lagos".. and yet you see them open dia "ahaa" mouth to yarn dust.. always..about east.
why deceiving demselfs with their media propaganda.
if na me alone eh.. na to ignore this folks.. a trip to the 5 yoruba states will open your eyes to this people..

na why most guys that visits NL alway smile at dia ignorance..


take lagos out of "southwest region" and see the entire southwest is a desolate land.

no apologies..


Fact is, debt used judiciously could be a great tool for meaningful progress and development, but what was done or achieved with massive N257 billion, they came not even show you one single project commissioned anywhere in that region apart from the substandard and now crumbling bridge in anambra.

Even 4 our of the 5 SE states collected salary bailouts so what happened to N257 billion.?
Re: SE States Combined Owe N257.74 Billion. by deomelo: 3:29pm On Nov 03, 2017
Alexus23:
There is a reason I hate Yorubas with passion. Don't ask me why.


You hate Yoruba people just because you can not explain what your governors did with massive N257 billion debt?

You are not smart at all.
Re: SE States Combined Owe N257.74 Billion. by Anambra1stSon(m): 3:37pm On Nov 03, 2017
When I said western media are sinking their region some thought I was joking, kindly few
ranking grin
25 Ondo oil producing state

30 Oyo big for nothing state

35 Ekiti fountain of poverty

36 Osun IDP camps state

tongue even northern state are more viable than west,thank for Lagos no man's land of which. Ogun is benefiting because of her proximity grin

Re: SE States Combined Owe N257.74 Billion. by Sprumbabafather: 3:38pm On Nov 03, 2017
joeyfire:


Oyo state: owing N115.9BN

Ekiti: owing N67.3BN

Lagos: N603.25BN (no lightrail no pipeborne water grin)

Ogun: owing N103.75BN

Osun: owing N165.91BN

Ondo: owing N55.57BN

https://www.pmnewsnigeria.com/2017/03/29/36-states-debt-profile-hits-n3-4-trillion/

Chinekeeeee grin grin grin grin

Afonjas and debt.

1 Like

Re: SE States Combined Owe N257.74 Billion. by Anambra1stSon(m): 3:41pm On Nov 03, 2017
Sprumbabafather:


Chinekeeeee grin grin grin grin

Afonjas and debt.

Re: SE States Combined Owe N257.74 Billion. by Sprumbabafather: 3:41pm On Nov 03, 2017
deomelo:



You hate Yoruba people just because you can not explain what your governors did with massive N257 billion debt?

You are not smart at all.

Onye m ka mma akola mu onu!
Re: SE States Combined Owe N257.74 Billion. by ofai: 3:43pm On Nov 03, 2017
deomelo:






....but nothing to show for their massive debt.

OP you didn't present the debt profile properly.

Pls outline that of SW states so we can compare.

Shame on the ewedu tribe

1 Like

Re: SE States Combined Owe N257.74 Billion. by ofai: 3:47pm On Nov 03, 2017
deomelo:



Fact is, debt used judiciously could be a great tool for meaningful progress and development, but what was done or achieved with massive N257 billion, they came not even show you one single project commissioned anywhere in that region apart from the substandard and now crumbling bridge in anambra.

Even 4 our of the 5 SE states collected salary bailouts so what happened to N257 billion.?

With all of Lagos debts one wonders where the monies ran to, tinubus pocket of course. Lagos is the 2nd most unlivable city on earth.

Other SW states are still owing even more that the SE states, what do they have to show for it? Lazy bones.

It is even igbos in SW that helped to develop the SW economically.

1 Like

Re: SE States Combined Owe N257.74 Billion. by Sprumbabafather: 3:51pm On Nov 03, 2017
ofai:


With all of Lagos debts one wonders where the monies ran to, tinubus pocket of course. Lagos is the 2nd most unlivable city on earth.

Other SW states are still owing even more that the SE states, what do they have to show for it? Lazy bones.

It is even igbos in SW that helped to develop the SW economically.

Tell them.

If not that Igbos who live in the SW, the whole region will be filled with brown roof wink

1 Like

Re: SE States Combined Owe N257.74 Billion. by deomelo: 3:55pm On Nov 03, 2017
fellowman:


but I hope you know that Southwest owes 1.5 trillion?

1.5 trillion

did you even read your pink


There is Zero argument about debts in the SW and the fact that they have debts in the SW doesn't change the fact that the SE combined more than a quarter of a trillion Naira debt and they have nothing to show for that massive debt. Deal with the topic and stop coming up with irrelevant issues.
Re: SE States Combined Owe N257.74 Billion. by Anambra1stSon(m): 3:56pm On Nov 03, 2017
deomelo:



There is Zero argument about debts in the SW and the fact that they have debts in the SW doesn't change the fact that the SE combined more than a quarter of a trillion Naira debt and they have nothing to show for that massive debt. Deal with the topic and stop coming up with irrelevant issues.

Re: SE States Combined Owe N257.74 Billion. by deomelo: 3:59pm On Nov 03, 2017
ofai:


With all of Lagos debts one wonders where the monies ran to, tinubus pocket of course. Lagos is the 2nd most unlivable city on earth.

Other SW states are still owing even more that the SE states, what do they have to show for it? Lazy bones.

It is even igbos in SW that helped to develop the SW economically.


And this irrelevant and ignorant rubbish means the SE doesn't have massive N257 debt with nothing to show?


This is why you people fail WAEC.
Re: SE States Combined Owe N257.74 Billion. by fellowman: 4:00pm On Nov 03, 2017
right now people are dying in Kwarra state


http://saharareporters.com/2017/11/03/unpaid-salaries-suicide-rampart-among-kwara-civil-servants-group-says

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