Wake up, President Buhari. Get in the game; you have left
the door open for more Federal Government bailout. The question is, why would
the Federal Government get involved? And, beyond that, why should it? Can the
Federal Government really help a state like Osun? Hell no!! The predicament of
these states is due primarily to two causes. One is mismanagement, which has
amounted to billions of their total shortfall. The second is the money that was
borrowed through the years for unseen projects and other unnecessary
obligations. Disappearing jobs, empty factories have all played a role, too.
states that mismanaged public finances with over N7bn should be prohibited
henceforth. We are talking about public funds here and Nigerian taxpayers need
to watch their wallets. If not, there will be a call for a federal bailout to
finance the purchase of private jets for state governors. The National Assembly
should act now to ensure taxpayers aren’t forced to pay for years of
mismanagement by government officials. Failure of some of these states to
properly manage their funds might be rooted in an unholy alliance between the
governors and their godfathers. Continue…
The issue of ghost workers is another thing
that should be looked into. It is a fact that some of the commissioners liaised
with the permanent secretaries to milk the states by employing ghost workers.
federal relief for these financially troubled states, the way these governors
squander public funds makes it morally troublesome and that’s to put it
lightly.
result of natural disasters like earthquakes or outbreaks of terrible diseases
such as Ebola. Seeking federal bailout to pay workers’ salaries is
preposterous, especially when the said states have been receiving regular
monthly federal allocations. Osun State needs to lie in its own poorly made
bed; the rest of the country cannot be expected to pay for the myopic misdeeds
of a lazy government.
illegal turn that causes an accident with another car. Witnesses call the
police, reporting who is at fault; the police transmit this information to the
traffic offence unit. When they arrive at the scene and find that the car of the
driver at fault is uninsured, will they tow his car to the workshop and have it
repaired at the expense of the government? Let us also pause and consider
whether this bailout shows respect for ordinary Nigerian citizens. The state
governors having chosen to run their risks, they deserve their misfortune, so
society need not save them from it.
shouldn’t have offered a bailout to these states. That the government treasury
is empty is certainly one salient factor. Another is the issue of moral hazard:
if these states can turn to the Federal Government whenever their finances go
down, other states will have much less reason to manage their money effectively
and make tough but crucial budgetary decisions.
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