Osinbajo, 20 APC Govs storm Edo for Obaseki’s guber campaign flag-off

As Buhari, party’s Govs meet

AFTER several months of blaming the erstwhile ruling Peoples Democratic Party, PDP, for the current state of Nigeria’s economy, the APC has accepted responsibility. Speaking to correspondents on Monday afternoon after the governors of the All Progressives Congress, APC, met with President Muhammadu Buhari in the State House, Abuja, Imo State governor, Owelle Rochas Okorocha said the lingering economic crisis in the country should no longer be blamed on the 16-year streak of the PDP. “We must take responsibility and we must never shift the responsibility to anybody. We are responsible for everything happening in Nigeria – the good, the bad, the ugly but we are promising Nigerians that we shall fix it,” Okorocha said. It would be recalled that on September 22, President Buhari had blamed the PDP for ruining the economy. “After 16 years of PDP regime, there was no power supply, no much infrastructure, no rail and no security; this is what it left for us,” Buhari had said. Gov. Okorocha, who is also the chairman of APC Governors’ Forum, said the party had now recognised that Nigerians were experiencing untold economic pains and his party had commenced initiatives that would address them. “We share the pains of Nigerians. Every human being must feel it. We also feel what they are going through but we are asking for a little patience let us do things the right way and do it once and for all,” he said. The federal, state and local governments of Nigeria have seen their allocations plunge by N835 billion in the first six months of 2016, relative to the first six months months of 2015. A new report by the Nigeria Extractive Industries Transparency Initiative, NEITI, also suggests that this sharp drop in revenues may negatively impact budget implementation across the three tiers of government in 2016, increase the size of budget deficits and deepen the debt burden. Titled ‘FAAC Disbursements in First Half of 2016 and Possible Implications,’ the report is the maiden issue of the NEITI Quarterly Review, a publication that will focus on issues around transparent and accountable management of revenues from the extractive sector. In line with section 3(i) (j) of NEITI Act 2007, the report analysed disbursements by the Federation Accounts Allocation Committee, FAAC, in the first halves of 2015 and 2016, and highlighted possible implication for public governance and management in the country. According to the report, revenues shared to the federal, states and local governments were less by N835.2 billion. The report stated: “Total disbursements to the federal government fell from N1.23 trillion in the first half of 2015 to N854 billion in the first half of 2016. This represents a 30.9% decline. “Total disbursements to states fell by 30.5 percent from N1.009 trillion in the first half of 2015 to N701 billion in the first half of 2016. For local governments, allocations from FAAC dropped by 26 percent from N580.63 billion to N429.43bn.” The reasons for the plunge in allocations, according to NEITI, include the drastic fall in oil prices, lower oil production due to militancy activities, fall in consumption and investment expenditures, and decline in economic activities


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  • vic

    APC, A GROUP OF LIKE-MINDED ILLITERATE FOOLS AND FOREX LOOTERS, THEN WHAT YOU INTEND TO DO ABOUT IT????? YOU NEVER LEARN AND YOUR EARS AND EYES ARE SHUT TO THE YEARNINGS OF POOR MASSES OF NIGERIA. IN ORDER TO RESURRECT YOURSELVES FROM THE MESS YOU HAVE YOURSELVES IN , WHAT BUHARI CAN DO IS TO FULFILL ALL HIS ELECTION PROMISES WHICH HE MADE TO THE POOR MASSES AND OLD AGE PENSIONERS OF NIGERIA.