If you are wondering why your state governor is not performing, not commissioning projects, not building basic infrastructure, no healthcare facilities, no roads, water etc.

The National Bureau of statistics in Nigeria has provided the Answer,
Your state has excessive debt and recurrent expenditures that when subtracted from total revenue, the state has little or nothing left for capital expenditures.

i.e your state is broke!

The really broke states in Nigeria have a balance sheet on the red.

Ok

Ok
But I hope the governors are broke too.

Just food for taught.

Nah eh! No qualms
This is so unsophisticated

Even our almighty EkO

The reason why wike can build 4 flyovers at a time, udom Emanuel can float an airline ibom air, Ebonyi can build good roads, Edo can fix decaying infrastructure eg the state secretariat complex , Kaduna can do Urban renewal projects and Kano can build solid Roads etc. Is because this state have few debt, and heve money left after servicing their debt and paying salaries.

Others are so broke because of greed and excessive debt and gross mismanagement of funds.

Enudapan:
Nah eh! No qualms
This is so unsophisticated

Even our almighty EkO

Almighty Eko is broke. Because of excessive debt. The only serving grace for Lagos is that its state IGR is so large they can use it to do a few projects. Before paying their debtors in the state. But other loans from Federal government is deducted at source hence crippling the state.

What has this information got to do with the rising cost of living in the country?

Ok

This excessive borrowing will be the bane of a lot of states in the country.

tanteta:
What has jthis information got to do with the rising cost of living in the country?

It means your state is broke that's why there is no money to buy seed to grow food and no money for fertilizer hence high cost of food.

Ok

Brandstudio01:
Ok
But I hope the governors are broke too.

Just food for taught.

The governor's of this bankrupt/ broke states are busy stealing what so ever if left of the state resources, some of them have stopped paying salaries and pension and some are not paying their contractors and pocketing the money meant for such obligations.

From the way I see it, the ones in red are the ones that chose not to doctor their state accounts.

thesicilian:
From the way I see it, the ones in red are the ones that chose not to doctor their state accounts.

Either you are not seeing correctly, or you are from one of the broke states. Hence you are biased.

My Benue, My Benue. will anything good come out of Benue at all?

Kyase:
My Benue, My Benue.
will anything good come out of Benue at all?

Yes if they stop borrowing and start spending what little is left on ventures that will generate income and jobs.

Benue has a comparative advantage in agric production, but state govt. Is not investing on agric processing plants to complement the effort of the hardworking farmers in the state to add value to their products and create jobs at the same time. You will cry if you visit benue state in the harvest season and see how crops that could have been processed are wasted .

The citizens of the broke states have to engage their governors on the way forward regarding excessive debt and overbloted recurrent obligations!

Its sobering to Notice that 4 out of 6 Southwest states are in the red - broke.
Only Ogun and Ondo are not in the red but still have very high debt and recurrent expenditures.

Atouke:


Almighty Eko is broke. Because of excessive debt. The only serving grace for Lagos is that its state IGR is so large they can use it to do a few projects. Before paying their debtors in the state. But other loans from Federal government is deducted at source hence crippling the state.

Did u even zoom it lagos revenue is the highest with N516 billion d deficit is nothing compared to the initial revenue

The really broke countries in Nigeria have a imbalance paper on the amber.

Chai Lagos is at the bottom. Tinubu don finish Lagos state

Tunde835:
Did u even zoom it lagos revenue is the highest with N516 billion d deficit is nothing compared to the initial revenue

Lagos has total income of 516 billion and has debt of 555 billion.
If you owe more than you earn is the definition of being broke!

Atouke:


Yes if they stop borrowing and start spending what little is left on ventures that will generate income and jobs.

not while that cow is there

Ferdinandu:
Chai Lagos is at the bottom. Tinubu don finish Lagos state

Lagos is the most indebted state in the country.
They have borrowed so much that now their debt is more than their total income including their IGR.
Lagos is on life support, soon AMCON will take over Lagos state government just like they took over Arik Air when it owed more than it earned.

Atouke:
Lagos has total income of 516 billion and has debt of 555 billion. If you owe more than you earn is the definition of being

being what?

Tunde835:
Did u even zoom it lagos revenue is the highest with N516 billion d deficit is nothing compared to the initial revenue

Lagos is like a pilot who earns N2millon per month compared to a civil servant with N80,000 per month.

But if the pilot owes so much that his monthly fixed expenses to service his loan is at N2.5million. That pilot will not be able to feed his kids or send them to school despite his high income.
But the civil servant with just N80,000 per month with no debt will live a better life.

High income is nothing if you are crippled with excessive debt that outweigh that income!

Tunde835:
being what?

BROKE, BANKRUPT!
When your expenditures is more than your earnings you are financially insolvent. That's where Lagos state government is at the moment, AMCON and debt management office DMO will soon take over Lagos, and put it on receivership.

TA Orji family and their stooge Ikpeazu has looted Abia state into bankruptcy. It shall not be well with them.

Atouke:
If you are wondering why your state governor is not performing, not commissioning projects, not building basic infrastructure, no healthcare facilities, no roads, water etc.

The National Bureau of statistics in Nigeria has provided the Answer,
Your state has excessive debt and recurrent expenditures that when subtracted from total revenue, the state has little or nothing left for capital expenditures.

i.e your state is broke!

USA is the most indebted state in the world but has the highest internally generated revenue which means they can pay off their debt within the shortest time if they so wish.

Lagos is the richest state in Nigeria and the 5th economy in Africa.Both Lagos and Ogun state can stand gidigba as sovereign entities.

Anambra and all the other states especially in the South East are dead without the federal govt feeding bottle.