Why PDP government did not save for rainy day – Ex-Governor Aliyu explains

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Immediate past Governor of Niger state, Dr Mu’azu Babangida Aliyu, has defended the inability of the last administration at the federal level to save part of its income in the boom era for the rainy day, saying the government was handicapped by the 1999 Constitution.

Niger state Aliyu Babangida

He said what the constitution provided for was for all amounts of money generated to be put in the federation account and shared among the three tiers of government.

“The Constitution did not say we should save anything; what the Constitution says is that we should generate and share. It will be illegal for us to say we want to save; the law does not allow it,” Aliyu explained.

He made the remarks in Minna, Niger State, on Saturday when he served as the chairman at the second edition of the NDEDI Annual lecture series which had as its theme, “The Emergence of the Current Economic Realities: Expectations on the part of government and the private sector”.

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However, the former governor said he and some of his colleagues were convinced at the time of the need to keep some money aside for eventuality, which brought about the establishment of the Sovereign Wealth Fund.

5 thoughts on “Why PDP government did not save for rainy day – Ex-Governor Aliyu explains

  1. What nonsense is this man talking about? "Would have been illegal to save, because the constitution did not say so".
    Na talk be this?

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  2. People should STOP being sentimental on issues and allow reasons to prevail. The nation is governed by a constitution and going outside it is illegal everyone knows this. If the man had pointed a loophole or flaw in the constitution then we should crave for its amendment to that effect. Not getting angry. If the fed gov had against the constitution as at then opted to save, for sure their would have been legal actions here and there. If the constitution did not provide for saving then the constitution is the encouraging factor for the lack of savings. Let it be amended.

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  3. Calm down, the 1999 constitution was written under the PDP administration, which he is a member,,,,or did the constitution fall from heaven?
    Its a failure if the policies of his party's administration or he want to blame APC nor for the 1999 constitution....
    The truth is, these are the kind of things that will happened when you give a job to people who don't know their job specification

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