Tuesday, June 23, 2015

no bailouts

The governors asking for bailout should first tell us the tax payers
1. does the state have a pension scheme for past executives and legislators....will the bailout fund this...?
2. How much does the state generate on average over 4 years on IGR
3. What is the bailout for...to pay salaries? Capital projects? Crude Oil which funds the FAAC is flat or falling. ....will the bailouts continue as FAAC is down...in essence whata the state plan to pay salaries....long term?
4..is there any plan to reform the labour and wages laws....can states reduce workforce? Can different states pay different salaries? Should Osun workers earn the same as Lagos workers based on cost of living
5..long term, should there be laws mandating fiscal buffers? The FGN managws a Sovereign Wealth Fund for the Federation. ..what are fiscal buffers the state have proposed to adddress this in future.....
For me, states must first demonstrate they have restructured their balance sheets before more funds are dashed to them....eg you cant own an "executive helicopter" and request for a bailout. ...
To be clear...bailouts are irresponsible, malignent and wrong.
Its our problem....we must fix it

No comments:

Post a Comment