Nigeria volume 1 - Page 8

"My point is, this is hypocrisy; you cannot simply apply the principle of federalism. It is typically associated with the rulers, and we have to go by the federal standards; but when you have to deal with the hard working citizens, the forgotten majority, you now think, ‘let everybody pay according to its ability.' But that should start with government; that should start with the Chief Judge."

"I don’t know if the Federal Government is broke, but I know there is a serious financial crisis and it is unprecedented in the history of this country."

Governor Oshiomhole argues that minimum wage should be raised, because the low pay in Abuja has been a big contributor to its recent financial crisis. A large majority of the money is going to the wealthy upperclassmen, meanwhile the lower class is receiving basically nothing for all of their hard work. The federal principle has recently been more biased than ever, as they judge the wealth classes by their social placement, and not by their abilities. Unemployement has sprung up all over, and many citizens have found themselves pushed straight into poverty. Nigeria is currently facing a financial recession worthy of the Great Depression that has destroyed much of its sustenance of human capital resources, but however, crude oil production has been performing very well inside Abuja's economy.

Well, it is no more a matter for debate and this year is almost finished, but there is no doubt oil has been a winner, at about one hundred and five to one hundred and ten dollars per barrel throughout 2013,” said Oshiomhole. “This means that if we have of 79 dollars, we ought to have a surplus of about 30 per cent, which should be in the crude oil account. But rather than having this surplus, we are witnessing a situation where our states are unable to pay their salaries. In Edo State, like the rest of our 35 states, part of our July allocations has not been paid. And this country's September allocations have not yet been paid. And it is the first time since 1999 that this thing has happened.”

http://www.vanguardngr.com/2013/10/nigeria-deep-financial-crisis-oshiomhole/

Ebegbulem, Simon. "Nigeria Is in Deep Financial Crisis - Oshiomhole." Vanguard News. N.p., n.d. Web. 11 Mar. 2014.

http://works.bepress.com/chinedu_ihenetugeoffrey/1/

"Selected Works of Chinedu Chibueze Ihenetu-Geoffrey." "NIGERIA'S SURVIVAL OF THE GLOBAL FINANCIAL CRISIS IN THE 21ST CENTURY " by Chinedu Chibueze Ihenetu-Geoffrey. N.p., n.d. Web. 11 Mar. 2014.