B-R-O-K-E – Revenue commission says Nigerian states are insolvent

by Hauwa Gambo Elias Mbam, chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), revealed yesterday that many of the states in Nigeria are broke – explaining that the cumulative external debts of the thirty six states stand at $2.165 billion. Speaking to the Senate joint committee on national planning, finance and appropriation, he... Read More