posted
Our nation has realised a N400b oil windfall. What should we do with do with the money? Should we save it for an emergency, for a rainy day, as they say? Or, should we just share the money to the states? The presidency and the governors disagree on what to do. Here is the story,
quote:N400 billion oil windfall: Presidency negotiates with governors, others
By Gbenga Abiodun
State House, Abuja
Aso Rock is in talks with all stakeholders to agree on what to do with the excess earnings from oil exports, an amount governors want shared to help deliver on electoral promises.
Sharing the over N400 billion surplus just now is against a Presidential inclination hinged on the advice of the National Economic Intelligence Committee headed by Ibrahim Ayagi.
The committee had in its first quarter 2004 report to President Olusegun Obasanjo counselled against buying the agitation by governors. It wants the money saved up for future strategic development.
However, a final decision on the matter is yet to be taken, going by the word of Nasarawa State Governor Abdulahi Adamu.
He told newsmen in Abuja at the weekend that talks are on between the Federal Government and the governors as well as other stakeholders in the matter.
Adamu expressed confidence that members of the committee would agree on what to do with the windfall, adding that as a member of the committee, he could not pre-empt the outcome of the deliberations still going on.
“Well, there are very important discussions going on between the Federal Government and other stakeholders in all the tiers of government. I don’t want to pre-empt the efforts the government is making. I’m involved in that effort and that is why I can’t pre-empt the decision that will be reached. It is not right. I’m involved in what is going on and I know the effort the Federal Government is making”, he stated.
The committee was not given a deadline to submit its report and Adamu declined to name those involved in the on-going negotiation.
Most governors have insisted on their share of the excess revenue to facilitate delivery of more dividends of democracy to the people.
Two of them, Bukola Saraki (Kwara) and Boni Haruna (Adamawa), fault the NEIC’s position. They argue that the money could be spent on developmental projects “now” instead of holding on to it for future use.
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If the SouthEast does not occupy Aso Rock in 2007, then, saving the money now means banking it for Hausa/Fulani which definitely will be looted with no direct consequencies.
In a well structured economy, question like this does not arise.
Posts: 288 | From: California | Registered: Jul 2003
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posted
We have had several windfalls in the past. The citizens of Biafra/Nigeria are still suffering in the mist of plenty. All they will do now is share the money.
After all your president OBJ is building a private university while still holding a public office. Who are you kidding?
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