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Mortgaging the States to FG future in name of bail-out (2)

President Buhari turned down the idea of bail-out at first. I must confess to being one of those who thought a bail-out was inevitable – given the empty purses most states were holding. However, it was my position that the states arrived at the same position through different routes. Some took sensible risks which backfired when the price of crude oil tumbled and the monthly revenue allocation from Abuja declined dangerously.

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