NewStats: 3,262,285 , 8,176,717 topics. Date: Sunday, 01 June 2025 at 05:38 PM xg2l

The Federal Government has deducted a total sum of N32bn from the allocations of states from the Federation in the month of April 2016 for different loans they incurred.
In a report by the Economic Confidential, the economic intelligence magazine, Osun state appears to be the worse hit by the development and ranks number one, as its allocation for the month of April 2016 totalling N2.030 billion was wiped away by a deduction of N2.391 billion leaving a deficit of N361 million to be paid in the subsequent month by the state, and this represents a whopping 117.8 percent of the total allocation due the state from the federation .

This means that Osun state had nothing to take home for the month of April, 2016, as other means of survival had to be adopted to keep the ship sailing for the people of Osun State.


Osun State is followed in the mind boggling deduction conundrum by Bayelsa state with a total deduction of N3.207 billion out of an allocation of N4.812 billion for the month of April, 2016 representing 66.66 percent of the total allocation.

Others are: Cross River state with a total deduction of N1.405 billion, Ogun state, N1.185 billion, Plateau State, N1.248 billion and Ekiti State with N1.067 billion all representing 63.46 percent, 57.20 percent, 56.52 percent and 55.33 percent respectively within the period under review.

From the investigation, not less than N3.078 billion of the total amount was deducted for bail-out funds granted the states by the Federal Government. At least eight states had no deductions on bail-out funds for the month of April 2016.

The states: Akwa Ibom, Anambra, Jigawa, Kogi, Lagos, Rivers, Yobe and the Federal Capital Territory did not collect the bail-out funds from the federal government or appropriate time for the deduction have not fallen due and are yet to commence.


Meanwhile, from the schedule of deductions obtained and computed by the Economic Confidential, the deductions from the states also includes debts on AMCON loan, Commercial Agric Credit Scheme, Bond Issuance Programme, Contractual obligation, and deduction from Excess Crude . Others are: Refund/Payment arrears of derivation, foreign loans, special intervention/flood management project, the national fadama project and reconstruction of commercial bank loans into FGN bonds apart from bail-out funds.

http://dailypost.ng/2016/08/21/federal-government-deducts-n32bn-states-allocation-debts-incurred/

kk

Hmmm
Na wao
Good for them. It serves them right. The governors must learn to be proactive and develop their internally generated revenue to survive. No more time for lazy ass pot bellied governors who wait for federal allowee to share amongst themselves and their cronies.

Bayelsa is dead!

GEJ should bail them out with less than 1% of what he embezzled na...instead of sponsoring NDA with it

midolian:
Bayelsa is dead!

Osun is buried then

Osun's case has gone celestial

Ifeanyi Uba should buy Osun state now. Lol

I don't blame the governors totally but people who refuses true federalism

Let it start 4rm here..



Latest bags?? Check my signature

Funny greedy government

midolian:
Bayelsa is dead!

GEJ should bail them out with less than 1% of what he embezzled na...instead of sponsoring NDA with it

Help us beg tinubu to help my state out

At least they both share the money when things was going on well

What are these states using the bogus bailout for. Upon all the allocation being accrued to then, there is nothing to show for it. Nigeria need restructuring cos no hope for the future at this moment.

CONFUSE BUHARI APC LEAD GOVERNMENT

Confused country ruled by a confused old man that's older than the country herself [size=22pt]shame[/size]

So Osun state is owing FG, they should better pay up. I wonder what Aregbesola did with all their funds.

pls how can I bid to buy Osun state?

Oya wailer , food don come

Nice one . . . to collect d loan dey dey sweet, oya, pay na.

Osun number1 again#smh

We the good people of Nigeria will like to know what the 32bn deducted will be used for... hope its not another conduit like AishaHaliburton dat will siphon it for her thief hubby....

Lol... Osun state should be bailed by Otedola or Tinubu .
Bayelsa by GEJ..

I am ashamed for bayelsa. Bayelsa have no need being on that list. With just 8 local government areas and with one of the highest allocations bayelsa ought to be competing with Lagos or Abuja. Yet the governor can't pay salaries of workers. This last time he paid salaries was 8months ago. Pensioners nko? That one na no go area. The ONLY University in the state, Niger Delta University (NDU) has been on strike since February, yet the governor is not bothered. The people get the leader they deserve I guess

i dnt really like keepin pet....buh after a lil shoppinq today i saw a DOG i really liked....i asked wat's the name frm the buyer..he said the doq hasn't qot any name yet..then i fink and fink and i decide to name him BUHARI..pls quys advice me is dat name cute .

the intervention was a loan FG did the right thing. Nigerians and free things.

I thought the goat-faced tout Aregbesola said Goodluck Jonathan was cutting Osun state's allocation to punish him for belonging in the opposition?

Tell me, is Jonathan still cutting your allocation from Otueke?

And to think so many so-called "EDUCATED" people like Gbawe, Omojuwa, Ayourb, OgbeniDipo, GbengaGold, DOlusegun and the other fraudsters helped in PERSISTENTLY spinning that lie?
WHAT A PITY!

Truly, these people have played themselves and shown the world they're nothing but hungry riff-raffs who lie for a living.

What credibility do you have left?
Shame!

Truly, the Nigerian 'intellectual' is a fraud.

midolian:
Bayelsa is dead!

GEJ should bail them out with less than 1% of what he embezzled na...instead of sponsoring NDA with it

tell ur father to help dem clown

Jokerman:
We the good people of Nigeria will like to know what the 32bn deducted will be used for... hope its not another conduit like AishaHaliburton dat will siphon it for her thief hubby....

Lol... Osun state should be bailed by Otedola or Tinubu .
Bayelsa by GEJ..

a money was borrowed ,and it was deducted,what is your own with the money...they simply collected their money

babyfaceafrica:
a money was borrowed ,and it was deducted,what is your own with the money...they simply collected their money

What was ur own with wat Dasuki did with FG's money? ?

[s]

midolian:
Bayelsa is dead!

GEJ should bail them out with less than 1% of what he embezzled na...instead of sponsoring NDA with it

[/s]
hypocrite

Three yorubaa states : Osun, Ekiti and Ogun. I'm not surprised...You see why they love One Nigeria to continue? They cannot survive without Federal oil money. They will be telling you they are sophisticated until they sophisticate themselves into debt. They claim Ogun has more industries than all SE...Lol. Yet Ogun can't even pay 1.8 billion naira federal debt. SMH