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State Governors Can’t Account For Funds Received From FAAC – Nweke Jnr

The Director General of the National Economic Summit Group, Frank Nweke Jnr, has accused state governors of not being accountable for the monies they receive from the Federal Government via the Federation Account.

“I wish something will indeed happen to Nigeria’s oil. Let there be no more oil in this country today”.

He continued: “a situation where people are sitting down as governors, as states and all you can say for yourself is that every month you go somewhere and bring money and then you come and distribute it anyway you want; in a most unaccountable manner.

That’s your view of governance? I have a problem with it,” he said.

Stating that there is an “over attribution of responsibilities to the Federal Government” by the state governors, the NESG boss challenged the governors to be a lot more innovative. “You cannot begin or continually tell the people of your state that the reason you are not doing well is because there is some shortfall in the revenue that comes to you from the Federal Government.”

“Nigerians live in the states. The states have tremendous resources,” he said.

While reacting to comments made by Edo governor, Adams Oshiomhole, about the nation’s economy, on Sunrise Daily, Mr Nweke said that the challenges the economy is facing has brought it nowhere near a state of collapse as alleged by the Governor.

“I can say very clearly, without fear of contradiction that the economy is not collapsing. I don’t think that’s a good way to frame whatever your concerns might be about the Nigerian economy.”

“Our economy can do a lot better if the leakages within the system continue to be managed and are plugged as well as if the economy is diversified on a continuous basis.”

He added that there has been improvement in growth of the non-oil sector but agreed that issues of unemployment, foreign debt still prevail. However, the challenges the economy is facing should not warrant a verdict that the economy is collapsing.

He described the annual budget as a statement of intent which depends on the nation’s revenue profile. “You may not always get the revenues that you project and if you have not gotten the revenues that you projected, naturally you have to make adjustments.

AmarSim Associations Development Consultants

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