Nigerians React As Obaseki Says FG printed N60bn To Share In March

0
299
Godwin Obaseki

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:

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.