Phinehas

Economy | Good Governance | Politics | Sport | Music

[Phinehas @realPhinehas]

Do you agree????

[Phinehas @realPhinehas]

@ugonduIj Should we be worried? ???

[Phinehas @realPhinehas]

@0xsael You are right and unfortunately, I don't see the feeding bottle mentality going out any time soon.

[Phinehas @realPhinehas]

Let’s talk about FAAC. Every month, Nigerians hear that FAAC has shared ₦2 trillion or more, but the real story is what happens before the sharing even begins. There are three major problems with the Federation Account Allocation Committee system that we need to confront.

First, too much money disappears before it reaches the table. A large chunk of federation revenue, sometimes as high as 30 to 40 percent, is deducted at source through cost of collection, interventions, refunds, NNPC retentions and other first-line charges. What finally gets shared among the three tiers of government is already a reduced pie. States and local governments keep fighting over the remaining scraps while these deductions continue to grow year after year.

Second, the process suffers from serious opacity and a trust deficit. We often see delayed or missing communiqués, constant disputes over NNPC remittances, limited real-time visibility for states, and weak constitutional clarity on who truly controls the Federation Account. When the process is not fully transparent, suspicion and tension become normal. That is not healthy federalism.

Third, the current arrangement breeds what many call “feeding-bottle federalism.” Many states still depend on FAAC for 70 to 80 percent or more of their revenue. This heavy dependence discourages serious efforts at generating internal revenue and rewards fiscal laziness. The result is that more money is shared every month, yet roads, hospitals, schools and security do not improve at the same pace. Allocation without accountability simply recycles poverty.

FAAC was meant to be a fair sharing mechanism. Right now, it is leaking, opaque and structurally weak. We need stricter limits on first-line deductions, full transparency with timely reporting, and real incentives for states to grow their own revenue. What do you think is the biggest problem with FAAC?

[Phinehas @realPhinehas]

@aonanuga1956 Shameful

[Phinehas @realPhinehas]

@aonanuga1956 Arrant nonsense

[SPARROW @sparrow_unicoin]

My woman came back from school today and started telling me that a mad man stopped her on her way back home. According to her the mad man approached her and asked if she had a man she said yes. So, he started telling her to hold her man very tight that his going to become a billionaire soon. And he added that she should make sure we both don't break up with each other or else she will lose and regret her life. I was like since the mad man has told you my secret now it’s left for you to know the needful. Honestly, since today she has been washing my dirty clothes and keeping the room neat and clean. To the extent of refusing to see me get angry. Glory be to God Almighty for the mad man revealing my secret to her instead of me.

[SPARROW @sparrow_unicoin]

All of us here on X space have finished secondary school right?

[Phinehas @realPhinehas]

@kingjohnola1 Oya na.... lol

[Phinehas @realPhinehas]

I have also noticed that in Nigerian politics, recycling is not just for plastics, it’s for presidents, promises, and the same old excuses.

[Phinehas @realPhinehas]

In Nigeria, politics is the only race where the winners get lifetime fuel subsidies while the rest of us queue for both petrol and sense.

[̷J̷̷O̷̷H̷̷N̷̷O̷̷L̷̷A̷ @kingjohnola1]

You guys really enjoying watching this rice production video

[Phinehas @realPhinehas]

@Musiclilbabyjr Hello everyone.
I have noticed something here.
Most people unfollow you after you've followed them.
Why na.
Let's connect and the keep it real please

[Phinehas @realPhinehas]

@imnisola10 We are

[Phinehas @realPhinehas]

@EA_King @uchenna427 101%

[Phinehas @realPhinehas]

@loner_dann52206 Lol....who steal Arsernal player???

[Phinehas @realPhinehas]

@loner_dann52206 We have the same cravings bro

[Phinehas @realPhinehas]

Congratulations to our Super Falcons.
Please drop some love for our girls.

[Phinehas @realPhinehas]

@judiboybaby I am super proud of the Falcons.

[Phinehas @realPhinehas]

@PatienceNd15657 Your Blue tick go just vanish even though u still get active sub....lol

[Phinehas @realPhinehas]

I hear say dey don dey steal Blue Tick now o 🤣

Abeg o....