L____T²
6.7K posts

L____T²
@anonymous___T
Good, bad, ugly, handsome, don't give a f*ck bout nothin.. freedom and money are my best friends
SomeWhereInTheWorld Присоединился Ağustos 2019
639 Подписки71 Подписчики

@taiwoyedele World bank wey dey give you loan you say make we no believe them.? Ehn so na this ones be the brains wey dem say Tinubu go assemble?
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FEDERAL MINISTRY OF FINANCE PRESS STATEMENT
FALSE ALLEGATION OF HIDDEN SPENDING AND DIVERSION OF FEDERATION REVENUE
The attention of the Federal Ministry of Finance has been drawn to recent media reports and commentaries that misrepresent the findings of the latest Nigeria Development Update by the World Bank, particularly claims suggesting that a significant portion of federation earnings is being “diverted” or constitutes “hidden spending.”
These interpretations misrepresent the World Bank’s analysis and reflect a misunderstanding of the fiscal system.
MISINTERPRETATION OF FAAC DEDUCTIONS
The misreporting in question incorrectly characterises Federation Account Allocation Committee (FAAC) deductions as “waste” or missing funds. This is incorrect.
FAAC deductions, as presented in the World Bank report, include:
Statutory transfers,
Savings and investments,
Security-related expenditures,
Cost-of-collection charges,
Refunds to Ministries, Departments and Agencies (MDAs),
Transfers and interventions benefiting subnational governments.
It is important to emphasise that refunds and transfers to states and other tiers of government are not leakages. They represent legitimate fiscal flows, including repayments of obligations and statutorily backed allocations.
SELECTIVE USE OF OUTDATED DATA
Some commentaries selectively relied on past data while ignoring the forward-looking analysis and ongoing public financial management reforms highlighted in the report.
The World Bank explicitly notes that reforms implemented in early 2026, including the recently signed Executive Order to safeguard remittance of petroleum revenues, are already addressing concerns around deductions, and are expected to improve transparency while increasing revenues available to all tiers of government by about 0.4% of GDP annually.
Misinterpreting one aspect of the analysis without acknowledging the progressive reforms and measures already introduced to enhance distributable federation revenues gives a distorted picture.
STRONGER MACROECONOMIC FUNDAMENTALS
The broader message of the World Bank report is positive and forward-looking:
Economic growth is becoming more broad-based across sectors.
Inflation, while still elevated, is declining due to deliberate policy actions.
Nigeria’s external position has strengthened significantly, with improved reserves and a current account surplus.
Debt indicators have improved, including a decline in the debt-to-GDP ratio, the first in over a decade.
These developments reflect the outcomes of the current administration's ongoing macroeconomic policies and public financial management reforms.
THE REAL MESSAGE OF THE REPORT
The World Bank does not conclude that Nigeria’s fiscal system is collapsing or that reforms have failed. Rather, it states that reforms are working, and they must be sustained and deepened to translate macroeconomic gains into inclusive growth.
CONCLUSION
The Federal Government remains committed to strengthening fiscal transparency, improving revenue mobilisation, ensuring efficient public spending, and deepening reforms to support inclusive economic growth.
An accurate understanding and responsible reporting of fiscal information are critical to maintaining confidence in Nigeria’s reform trajectory and economic outlook.
We urge stakeholders, media organisations, and the public to engage constructively with fiscal information and avoid twisted interpretations that may undermine reform efforts and fuel public discord.
Signed
Taiwo Oyedele
Honourable Minister of State for Finance,
Federal Republic of Nigeria
April 19, 2026
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@inecnigeria Community note thank you. They can’t fool everybody. They think everyone is as dumb as APC supporters 🤣🤣
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Market Tinubu to me. Convince me to vote for him with his achievements.
What how an APC spokesperson convinced the podcast host 😂
BLESSED 🥷@Dee_9889
Tinubu does not fight with his so called enemies, he buys them, A lot of people don’t really know the evil person Tinubu is… Man calls out Tinubu
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@inecnigeria Who is he in 2023? Who saw the future that he’ll be the inec chairman? Omo everybody no gullible like APC members abeg abeg
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@Adikastakes Garnacho was far their better player in the match if we’re being honest.
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@aonanuga1956 So these are the brains they said Tinubu will assemble?
lol what he has assembled looks more of people that needs brain
Because I can’t imagine why a special adviser to a president will take sides.
Omo try get shame
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@ruffydfire That’s the level of his character
That tells you a lot about who he’s
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How can a presidential spokesman call people obidiots
Are the authorities seeing this?
Bayo Onanuga, OON, CON@aonanuga1956
Obidiots: Some thoughts for food served hot by this lady.
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@footballontnt Is there a name for open play assist? Or it’s still called assist?
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@_nseobong I think we need to play with a false 9 till 70 or 75 and then bring him in. He’s a bit lost
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@samuelluckhurst No the reality is Manchester United won the game and left with all 3 points
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Rosenior: ‘The reality is Man United had one shot on target, scored against ten men and won the game 1-0. That should be impossible.’ #mufc
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@ChuksEricE Hope say dem don share food and drink before this matter happen sha!!!
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Drama unfolded during a woman’s burial ceremony yesterday in Benin, Edo State, after the deceased woman’s family initially refused to allow her husband to proceed with the burial.
The family raised concerns after the cørpse, which had spent nine months in the mortuary, arrived at the husband’s house. Upon opening the casket, they noticed the woman’s eyes were no longer visible, which made them suspicious and brought the entire ceremony to a halt.
According to a reporter who also served as the MC at the event, the mortuary attendants explained that the change was caused by the chemicals used to embalm the body for the long period in storage, which made the eyes sink inward.
Still unconvinced, the woman’s family called their own doctor to examine the body. After confirming that it was indeed due to the embalming chemicals, the family agreed, and the woman was finally laid to rest later in the evening.
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@rioferdy5 Still relying on Arsenal players to bail you out. First Van Persie now Heaven. Be grateful to Joel the next time you see him😏
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@talkSPORT Carrick is good for interim
I’m still surprised why our board haven’t figured out our next manager yet. Bournemouth have already sorted out their managerial position!!! Carrick can’t be our manager next season!!
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@FabrizioRomano I thought Chelsea were some kinda ready for us tonight. The game seems more of a training ground 🤣🤣🤣
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