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Wake Up President Buhari- Etcetera

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Controversial singer and actor, Etcetera is back with
another epistle. This time he said the President should wake
up from his slumber.

Read what he wrote below!

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.

There are so many reasons why bailing out cash-strapped
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. 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

Leaving aside the argument of the merits or demerits of
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.

It would have been understandable if this bailout was as a
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.

Consider an uninsured driver who negligently makes an
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.

There are so many good reasons why the Federal
Government 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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Updated: July 11, 2015 — 9:39 am
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