Nigerians on twitter are reacting over the statement by the Governor of Edo State, Godwin Obaseki the Federal Government printed N60 billion to pay states in the month of March.
Obaseki, who spoke at the state transition committee stakeholders’ engagement, added that that Nigeria was the only country in the world where the federal, state and local governments earn salaries at the end of the month.
He said, “Nigeria has changed. The economy of Nigeria is not the same again whether we like it or not. Since the civil war, we have been managing, saying money is not our problem as long as we are pumping crude oil every day. So, we have run a very strange economy and strange presidential system where the local, state and federal government, at the end of the month, go and earn salaries. We are the only country in the world that does that.
“Everywhere else, the government relies on the people to produce taxes and that is what they use to run the local government, state and the federation. But with the way we run Nigeria, the country can go to sleep. At the end of the month, we just go to Abuja, collect money and we come back to spend. We are in trouble, huge financial trouble.”
“The major oil companies who are the ones producing are no longer investing much in oil. Shell is pulling out of Nigeria and Chevron is now one of the world’s largest investors in alternative fuel, so in another year or so, where will we find this money that we go to share in Abuja?
“When we got FAAC for March, the Federal Government printed an additional N50-N60bn to top-up for us to share. This April, we will go to Abuja and share. By the end of this year, our total borrowing is going to be within N15trn to N16trn,’’ he added.
See how Nigerians reacted below:
Obaseki’s disclosure of Printing and Sharing cast us in the light of Idi Amin’s Uganda.
— Senator Shehu Sani (@ShehuSani) April 11, 2021
If what Godwin Obaseki said about the CBN printing N50B to N60B for March allocation to states is true, and the finance minister is yet to counter it after 24 hours, Ladies and gentlemen, Nigeria is in bigger trouble under President Buhari.
— UNCLE AJ (@UNCLE_AJALA) April 11, 2021
Governor Obaseki confirmed that Nigeria is "printing money" – yet on social media, we act as if Nigeria does not have a finance minister.
I respect APC's social media game – but going forward, I will spend time reminding you that Nigeria has a finance minister, with a name.
— Onye Nkuzi (@cchukudebelu) April 11, 2021
N60bn printed monthly. Obaseki says debt could hit N21trillion before the end of 2021.
Buhari has finished this country. Where do we start from?
— Virginius Jeffrey (@VillageParrot) April 10, 2021
No oil money again, FG printed N60bn to share in March: Obaseki.
Who know Buhari printed N60bn and still increase fuel and electricity? Buhari’s govt is useless to Nigerians.
None of them care or talk how will they pay public debt N32, 2 trillion, of course 2023 is their focus
— Grace John❤ (@onyiforlife) April 10, 2021
If what Governor Obaseki said about the CBN printing 50 billion is true then we are in a bigger problem than we even understand.
— Global🇳🇬 (@okeyjames) April 11, 2021