Bayelsa state Governor, Senator Douye Diri on Wednesday declared displeasure for the categorisation of the state as insolvent.
The Miracle Government also suggested that the Federal Government was bankrupt well.
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Diri made the declaration when he hosted a delegation from the Revenue Mobilisation Allocation and Fiscal Commission at the Government House, Yenagoa, the Bayelsa state capital.
Recall that the chairman of RMAFC, Mr Elias Mbam, had grouped Bayelsa among five states including Borno, Kebbi, Katsina and Taraba as states that have become insolvent.
Govermor Diri argued that Bayelsa, as an oil and gas-producing state, could not be declared insolvent alone without Nigeria which had also been rendered bankrupt by ongoing abnormalities in the country.
Governor Diri insists that the time had come to change the revenue formula to reflect the principles of “true federalism which promotes equity and justice.”
Diri said; “We cannot be doing things the same way and expect a different result. A state where a good percentage of the revenue that Nigeria shares (is generated), is said to be bankrupt.”
“How does that happen in any normal society? It tells us that there is an abnormality in this country. Should Bayelsa be bankrupt, then Nigeria should also be declared bankrupt.”
The governor, who renewed his call on multinationals to relocate their headquarters to Bayelsa, said, charged the RMAFC to be agents of change to ensure that the current abnormalities in Nigeria’s federal structure were corrected.