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Nairaland Forum / Nairaland / General / Politics / Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) (6549 Views)
Profile of Aisha-jummai Alhassan Nigerias' First Elected Female Governor. / Yari Abubakar, Martins Elechi, Nigerias Youngest & Oldest Governors Respectively / Pictures From Eko Atlantic Opening Ceremony... (2) (3) (4)
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 9:46pm On May 06, 2013 |
I actually didn't plan to start here, but . . . . naptu2: Isale-Gangan (1950s) naptu2: Isale-Gangan (2009) |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 9:49pm On May 06, 2013 |
[size=14pt]Fashola inspects Isale-Gangan Urban Renewal Project.[/size] watchinglagos: As we inch pile after pile, beam of steel after beam of steel, you can be sure we will deliver the project, he says. https://www.nairaland.com/1187548/fashola-inspects-isale-gangan-urban |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 9:50pm On May 06, 2013 |
Pyguru go away, Pyguru go away, Pyguru go away. |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 9:52pm On May 06, 2013 |
[img]http://img1.nairaland.com/attachments/978310_285376_529637573724180_2116359675_n_jpg3adadfef1734f572b61da504d45cd8b2[/img] [img]http://img1.nairaland.com/attachments/978311_798399_529637417057529_1851089642_o_jpg64de0c10595b2a5a33b76655fc7290c9[/img] [img]http://img1.nairaland.com/attachments/978312_843938_529637953724142_1784176355_o_jpg6775e6e6c94ad5f8ef60f54bb7c04ca1[/img] 1 Like |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 10:09pm On May 06, 2013 |
Skills Acquisition Centers. The Lagos State Skills Acquisition Centers are set up for people who do not have jobs, to enable them to learn skills that will enable them earn a living. Any unemployed person can attend the skills acquisition centres, but there is also a special set of people who are sent to the centres by the government after being screened. These set of people are the area boys, homeless, street traders, beggars, etc. Below is the process for the special class of attendees: [size=14pt]The Process[/size] 1)The environmental laws of Lagos State (laws against street trading, begging, etc) have been in place at least since the 1970s (probably earlier). They've been reviewed quite a number of times (Akhigbe, Rasaki, Tinubu). 2) The process was fully established by the Tinubu Administration. 3) Beggars, street traders, destitutes, area boys, psychotics, etc are arrested by the Task Force on Environmental Offences. 4) They are given a choice: (a) go to prison (b) go to rehabilitation centre (c) return to your state of origin. A) The law stipulates punishment for those who commit these offences. They include prison term, fine, forfeiture of goods. B) Rehabilitation centres were set up (the most famous/infamous was at Ita-Oko Island). At the centres the inmates are sorted. They are tested for drugs. Those who are drug addicts are detoxified. Those who have mental illnesses are sent to the asylum. The inmates (apart from the lunatics) are then taught skills (skills acquisition centre) so that they'll be able to earn a living. When they complete the course, they are given a loan with which they will start a business and made to sign an undertaking that they will not return to the streets. C) Return: Those who choose to return are transported to their state of origin. The state government is usually informed ahead of time (although I know of 3 instances in which their state governments claimed that they were not informed) so that they can make arrangements to cater for the people. Most of the people who have chosen to return are from the northern part of the country (note: they chose to return). |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 10:11pm On May 06, 2013 |
Students of the skills acquisition centres make the costumes that are used for the annual Lagos Carnival, while sponsors of the carnival bear the cost (participants in the carnival are given the costumes for free). Upon graduation they are given interest free loans by the Lagos Micro-Finance Institution (LASMI). |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 10:13pm On May 06, 2013 |
naptu2: Some of the skills acquisition centres: |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by CROWE: 10:31pm On May 06, 2013 |
Eko Atlantic is legal because it was approved by the state government, Makoko is not because it was not approved. This is not a judicial issue, there is not right and wrong here, the state constructs whatever building it wants to and rejects whatever building it wants to. Rationalizing Fashola's decision has to be economic and not moral, projects like Eko Atlantic will raise Lagos profile globally and decidedly increase the economy, Makoko is not going to do the economy any good and it likely obstructs the master plan for Lagos. Fashola has no power to transform the lives of ordinary Lagosians, this is the fault of Gej, he has taken up the responsibility of fixing Nigeria alone where there are 36 other people there who were supposed to be elected to share the work with him. 1 Like |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 10:44pm On May 06, 2013 |
Now the next post is the one I'm most worried about (Lagos HOMS). It's the kind of post that Pyguru likes to ban. It's very long and has lots of strange characters. Oops! I haven't even finished posting about the skills acquisition centres (the fire at Tekunle). |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by MajeOfficial: 10:46pm On May 06, 2013 |
Michaeljones36: I want to point out that this is part of development. It always has been, and always will be. This is the issue. Skyscrapers don't facilitate, hire, or cater to the poor, which is the majority of Lagos. They're simply another means of expanding opportunities for the opportune. Even in the US. Go to New York and you'll see skyscrapers galore. Enter them and you'll realize they're full of white, anglo saxon males from top to bottom, the group of Americans that have traditionally always had the money before and now after the scrapers. The point is Makoko originally was a hazard. By the people came up with a means of solving their own problem of not having a place to live and having their aquatic lifestyle destroyed. The devised a solution that is fundamentally nothing different from Eko Atlantic -Build on the sea -House on this building -School in this building -Work in this building and it's illegal, which Eko Atlantic, like the skyscrapers of NY, will be filled with the already rich of Nigeria and the world, is built on the sea, and is completely 'legal' and in fact celebrated. This is the issue. The rich in Nigeria simply want to keep pretending the poor don't exist this is why many of the nigerians online were more outraged by the Rick Ross video than the poverty in the country. They simply don't want to 'look' bad and too much of nigeria's development is focused on 'looks' as opposed to solutions. |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by MajeOfficial: 10:48pm On May 06, 2013 |
CROWÉ: Eko Atlantic is legal because it was approved by the state government, Makoko is not because it was not approved. This is not a judicial issue, there is not right and wrong here, the state constructs whatever building it wants to and rejects whatever building it wants to. Rationalizing Fashola's decision has to be economic and not moral, projects like Eko Atlantic will raise Lagos profile globally and decidedly increase the economy, Makoko is not going to do the economy any good and it likely obstructs the master plan for Lagos. Fashola has no power to transform the lives of ordinary Lagosians, this is the fault of Gej, he has taken up the responsibility of fixing Nigeria alone where there are 36 other people there who were supposed to be elected to share the work with him. Empowering Lagos' poor population won't do anything for the economy? GEJ is supposed to take care of Lagosians, not Fashola? Eko Altantic will 'raise' Nigeria's profile and everyone will ignore the fact that across the island the average person is living in poverty? What will the homelessness of the entire Makoko do for Nigeria's profile? |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 10:53pm On May 06, 2013 |
[size=14pt]Lagos Home Ownership Scheme (Lagos H.O.M. S)[/size] THE LAGOS HOMS It has been identified that the greatest obstacle to achieving the goal of housing for all is the absence of enduring mortgage system. Provision of Accommodation is by nature capital intensive and affordability implies that for low and medium income earners to be able to buy houses, there must be in place a mortgage finance system and one of the major challenges that impedes home ownership in Nigeria is the inadequacy of the mortgage sector. Faced with the ever increasing need to provide adequate accommodation for the citizenry, the State Government reaches the need to assist the citizenry in meeting their shelter aspiration as well as facilitate the creation of long term and sustainable wealth. Lagos HOMS, a home ownership scheme that affords first time home buyers who are resident in Lagos State the opportunity to own their homes. FEATURES OF THE SCHEME · Tenor minimum of 10 years and maximum of 20 years. · Facility Amount. This will be subject to the 70% balance of the cost of the type of Houses purchased. · Equity Contribution: Applicant would be required to make a minimum equity contribution of 30% value of the property he/she intends to buy. · Pricing -Interest rate 6% -Fee N10,000 (Civil Servant) -Admin. Charges N25,000 (Others) -No other charge · Repayment -Equal periodic principal repayment. Interest to be paid on reducing balance or -Equal monthly installment of both principal and interest. · Security Deed of Mortgage over the property to be acquired. MODE OF OPERATION FOR THE SCHEME · Interested Applicants must obtain a form from Ministry of Housing or download form from the Lagos State Government website (www.lagosstate.gov.ng). · Applicants should fill the form and submit to Ministry of Housing accompanied with payment of N1,000 for the Application Form. · Applicants who have submitted his/her application forms will be directed to any of the three receiving banks for pre-qualification. · All Applicants pre-qualified and recommended by any of the receiving Banks will be issued with Letter of Offer. · Applicants are expected to pay the 30% equity contribution to any of the three collaborating banks. · Applicants to submit proof of payment and an acceptance Letter to Ministry of Housing. · Ministry of Housing refers documents to Ministry of Justice to prepare and execute Contract of Sales and Deed of Mortgage Agreements. · Housing releases Letter of Confirmation of Allocation and keys to successful Applicants. CONDITIONS/ELIGIBILITY FOR QUALIFYING FOR THE MORTGAGE SCHEME - Applicant must reside in Lagos - Applicant must be under 60 years of age. - Applicant must have a verifiable means of income. - Applicants should be credit worthy. - Successful Applicants are expected to pay 30% of the value of the house they intend to purchase. - Houses purchased under the scheme must be occupied by the beneficiary and cannot be transferred or rented out until all obligations has been fulfilled - Beneficiaries are to pay 6% interest rate on the mortgage loan. - Applicants must have been working for his/her current employer for at least six months (and must be so confirmed by employer). - Applicants must be first time Home Buyers. FINDING The Lagos HOMS is a mortgage scheme that is completely funded by the Lagos State Government. Apart from providing the pool of Houses, Government also provide the funds for the mortgage facility being granted. GLOBAL TERM SHEET FOR LAGOS HOME OWNERSHIP AND MORTGAGE SCHEME Background:- This term sheet tends to provide a standardization for administering the Lagos State Home Ownership and Mortgage Scheme to all residents of Lagos State. Though priority will be given to Civil Servants in Lagos State Ministries and Parastatals, the target market is all residents of the state (irrespective of tribe), that is Lagosians. The purpose of the scheme is to encourage first time home buyers with verifiable source of income to own their own houses. To administer this scheme for LASG, three banks have been nominated; FBN Mortgages, Skye Mortgages and Zenith Bank Plc. Definition of Risk Acceptance Criteria: For the purpose of this term sheet, the table below spells out the risk acceptance criteria for effective administration of the scheme which will be adopted by the participating banks involved. Risk Acceptance Criteria Pre – Qualification /Screening Process: 1. Lagos State Government will first pre-qualify the intending beneficiary who must a first time home owner in Lagos State and the claim of first time home ownership must be administered under an Oath. 2. The pre-qualified individual must open an individual current account with Bank. The account will serve for both the purpose of paying 30% equity contribution and also for monthly repayment. 3. The beneficiary will submit hisher allocation paper from LASG to the bank along with request letter and apply for a mortgage scheme under Lagos State Home Ownership Mortgage Scheme. 4. Upon meeting the Risk Acceptance Criteria tabulated above, approval will be conveyed via an offer letter and monthly repayment schedule communicated to the beneficiary. 5. For proof of affordability, salary earners are to submit pay slips for the past 6 months and salary account statement for the past one year while self employed would submit company profile, three years audited account statement and businesspersonal account statement for the past 12 months. 6. Monthly repayment as stated in the repayment schedule commences as soon as offer is accepted and condition precedent to commencement of monthly repayment is met. 7. Bank will communicate acceptance and approval to LASG for release of Keys to the beneficiary to take possession. 8. Update on monthly repayment will be given to LASG on monthly basis. 9. A dedicated account will be opened which will warehouse all monthly payment from the buyers which would have joint signatories from the Ministry of Housing $ Ministry of Finance. Event of Default This occurs: 1. If the beneficiary fails to make repayments for three consecutive times. 2. If repayment has not been regular and there been defaults at three different times which in the opinion of the banker has raised doubt on the ability of the beneficiary to continue with the repayment, such issues will be reported to LASG who will take steps towards foreclosure. Foreclosure of Security: The interest on the properties resides with Lagos State Government, hence the right to foreclose lies with them. MonitoringTracking of Repayment: This shall be the joint responsibilities of LASG and Bank. Bank on a monthly basis will be updating LASG on the repayment update that shall aggressively follow up with any loan defaulters for regularization. Accelerated Repayment: This shall be allowed so far 90 days notice is given which shall also be communicated to LASG. http://www.lagosstate.gov.ng/pagemenus.php?p=106&k=29 |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 11:06pm On May 06, 2013 |
[size=14pt]Lagos HOMS: 2,624 Houses Ready For Allocation[/size] by melojames: 1:04pm On Apr 17 melojames: The Lagos State Government will soon allocate 2,624 housing units to beneficiaries under its Home Ownership Mortgage Scheme. https://www.nairaland.com/1260588/lagos-homs-2624-houses-ready |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 11:15pm On May 06, 2013 |
Even the so called "Hausa beggars" that you see around have a home. It's at Oko-Baba in Ebute Metta. It was rebuilt by the Fashola Administration. I've done charity work there. [img]http://img1.nairaland.com/attachments/667329_valentine20with20the20destitute202_jpg16153d0e1083f651287170ebfdb66c4f[/img] [img]http://img1.nairaland.com/attachments/667320_valentine20with20the20destitute204_jpg204fbe28fbadf591be1ff7ad291a176b[/img] |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by Kairoseki77: 11:55pm On May 06, 2013 |
MajeO.fficial: This is the issue. Skyscrapers don't facilitate, hire, or cater to the poor, which is the majority of Lagos. They're simply another means of expanding opportunities for the opportune. Even in the US. Go to New York and you'll see skyscrapers galore. Enter them and you'll realize they're full of white, anglo saxon males from top to bottom, the group of Americans that have traditionally always had the money before and now after the scrapers. You are looking at the present without context. Right now, where do most 'rich' Nigerians go to seek opportunity? The answer: Everywhere other than Nigeria. You'll find us in the US, the EU, in Asia, the Middle East, etc, etc. The 'brain drain' robs 9ja of it's best and brightest. A very smart doctor will go to London and save British citizen's lives, while his people back home are dying. A brilliant writer will go to America and become a teacher, imparting his knowledge to the next generation of Americans. An engineer will go to China, etc. The worst part of it, are the highly trained people that go America and end up working as cab drivers, wasting their potential at home, and abroad. A poor man cannot give charity to himself, and Nigeria is a poor nation. The first step is to keep the "rich" here in 9ja, so that they can work in Nigerian companies, teach Nigerian children, and solve Nigerian problems. If a talented man wants to work for KPMG, let him work for the Nigerian division, rather than the Dubai division. That type of industry needs places like Eko Atlantic to conduct business. We don't even have 24 hour power in this country, so hoping for a socialist paradise where all the poor are rich is waaaaay too early. Eko Atlantic will create massive amounts of jobs. The construction will employ lots of people, but the real jobs are going to be created once it's finished. The point of business districts is that they allow diverse businesses, and business people, to be close to one another. Close enough for people to share ideas, find investors for new projects, to find partners for deals, etc. There is a reason that even in the global tech industry, everyone piles on top of each other into little Silicon Valley. The reason you only see white people in those skyscrapers, is racism. Poor people have been emigrating to the US since Christopher Columbus 'discovered' the area in 1492. Each new wave of immigrants have been treated poorly when they arrived. Just look up the tenements in Manhattan where Italians and Irish lived. Look at the American Mafia, and the Irish mob to see the type of criminality that developed in those poor communities. The difference, is that they were still white people, so after they lost their accents, they could blend in and move up in society. Black people don't have the same advantage, and white people are irrationally afraid of black people succeeding in that country. They have been inventing new ways to keep institutional racism in place since the slaves were freed in 1865. From segregation, red lining, white flight, mass arrests, etc. It is just basic tribalism that has probably existed since the first humans formed the first tribe back in East Africa. In fact, American/European/and Asian racism is exactly why we need our own rich district. Chinese look white from a distance, so they will blend in with each other as time goes on. Black people look too different from everyone else to ever blend in. But I'm getting off topic. |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 12:09am On May 07, 2013 |
^^^^ To add to what's above there; what's the function of the light rail project (apart from opening up Ojo)? There are many people who live in Ojo/Badagry area who cannot afford to live on Lagos Island/Mainland. They come to work as teachers, drivers, messengers, etc on the Island, but have to endure a terrible transport system. Now you have a rail line that runs from Okokomaiko, through Orile, Amuwo Odofin, etc to Marina (the heart of Lagos Island). You have another line that runs through Mushin, Ebute-Metta, etc to Marina. The goal is to ensure that those people who live in the "slums" can live in a place that they can afford and still tap into the opportunities that exist in Victoria Island, Lekki and yes Eko Atlantic City. By the way, both developments are not the same simply because they are both built on water. How does Makoko affect the storm drainages in the area? Is Eko Atlantic City built under high tension electricity cables? Eko Atlantic will have its own sewage treatment plant. Very few parts of Lagos have that (except 1004 and maybe Festac). Residents of Makoko dump their sewage directly into the water. There are many differences. |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by CROWE: 12:17am On May 07, 2013 |
@ : Empowering Lagos' poor population won't do anything for the economy? Creating an environment conducive to economic development for the common man is how you empower the youths, you need long term schemes and financial laws, allowing Makoko to gi up will help but it is not a long term plan and will bring with it its own negative long term complications. GEJ is supposed to take care of Lagosians, not Fashola? Yes, in a unitary system of government which Nigeria de facto is, the top and usually the only tier of government has full responsibility across the land, Nigeria is supposed to be federal rather than unitary but federal system mean Fashola should have full powers over Lagos including the money but in Nigeria the senate can make local governments autonomous and most importantly the federal government controls all the finances in the country, also states have no constitutions and all their practices are decided at the federal level which kind of defeats the purpose for the states in the first place but because there are states the presidency naturally expects that they will do the work. 99.2 % of Nigeria is the states and yet they get very little money annually which guarantees that they cannot effectively maintain what is already there talk less of adding more and any governor who tries to increase economic productivity in the state is not going to succeed because the federal government takes all the money and shares it among the states so you find that for every naira you make you are actually making something closer to 10 kobo as the money is shared with the federal government and 36 states so the business fails and public property like our railways fail into decay. Yes Lagos is GEjs responsibility because his government guarantees that no one else can transform the state or any other Nigerian state for that matter, that is what it means to be de facto unitary, the main governnment has all the responsibility. Eko Altantic will 'raise' Nigeria's profile and everyone will ignore the fact that across the island the average person is living in poverty? What will the homelessness of the entire Makoko do for Nigeria's profile? The Makoko region peoples lives is not something Fashola can fix and leaving people to their own devices is not a good idea, you need planning otherwise Lagos will eventually go to hell, you cannot do everything that is good as you see them, you need to have restraint at times for long term absolute efficiency. I know that it is a sad state Makoko is in but making short sighted decisions is not going to help anybody further along the lines. Rather go and ask Gej to get out of our states and stop meddling with their business, this is supposed to be a federal republic, not a unitary one. |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by CROWE: 12:18am On May 07, 2013 |
Sorry. |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 12:25am On May 07, 2013 |
^^^ That's another view I agree with. We've made progress since 1999, but our system is still waaaaay too unitary. The states still have to wait for handouts from Abuja, which is just crazy. Much of our problems (Niger-Delta agitation, marginalisation of easterners, request for a special status for Lagos, fulani versus everybody, etc) are a result of this unitary system that we operate. |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by Kairoseki77: 2:08am On May 07, 2013 |
naptu2: ^^^ True. The sad thing is that many in the North are obstacles to a complete switch because they are the disproportional beneficiaries of our 'national cake' system. In the long term it should be in the North's best interest, but the short term pain is too much for them to take. So they cling to a failed system, that barely provides, out of fear of drowning. |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by CROWE: 2:21am On May 07, 2013 |
Michaeljones36: Well no, short term northern states will have to borrow money from and this is very important "privately owned banks" to develop their economy, there is no reason for them to suffer even in the short term. No bank will be able to foot the bills and I get that but that is where you seek foreign investment. All in all they will lose a bit in the short term but they are all starving anyway, things will get better very quickly, that is the upside to it. Can anybody tell me if the constitution review is talking about state autonomy or is it just useless local government autonomy? |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by Kairoseki77: 6:24am On May 07, 2013 |
CROWÉ: Buhari's CPC lists Federalism as their party platform. I wonder what the details of their plan is. Does anyone have a link to APC's manifesto? |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 6:24am On May 07, 2013 |
Tekunle is an island in the Lekki Lagoon. It was known as "The Place of No Return" because of the inhospital environment surrounding the island. The military governments used it as a detention camp/prison where politicians and other political prisoners were detained (some called it Nigeria's Alcatraz). The Federal Government gave the island back to the state government when military rule ended. The Tinubu Administration decided to build a rehabilitation camp for area boys, beggars, the homeless, etc on the island. This is the story of the fire on the island. The centre has since been rebuilt by the Fashola administration. mekusxxx: Print version ‘Area Boys’ Burn Rehabilitation Centre https://www.nairaland.com/400138/area-boys-lagos-ibadan-action |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 6:50am On May 07, 2013 |
Do you know that Lagos State has acquired farmland in Ogun State and is in discussions with Kogi and other states to acquire more farmland in those areas? Do you know why it is doing this? That's the story of the YES Agricultural Empowerment Scheme for unemployed school leavers and others. Programmes like these are not as sexy as cable stayed bridge and Eko Atlantic City, so they don't get as much column inches in the newspapers. 1 Like |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by Kairoseki77: 6:57am On May 07, 2013 |
naptu2: Do you know that Lagos State has acquired farmland in Ogun State and is in discussions with Kogi and other states to acquire more farmland in those areas? Do you know why it is doing this? That's the story of the YES Agricultural Empowerment Scheme for unemployed school leavers and others. My deepest hope is that someone like Fashola becomes President of Nigeria in my lifetime. No one else in the country has any plans for the unemployed, except using them as militants or religious pawns. Somehow he is already deep into the process of trying to get them skills and jobs. |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 8:13am On May 07, 2013 |
GARRI (x7): https://www.nairaland.com/1090048/lagos-acquires-50-hectares-land |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 8:18am On May 07, 2013 |
[size=14pt]Gov Amosun Allocates 500 Hectares Of Land To Lagos State[/size] miqos02: The Ogun State Government on Wednesday allocated 500 hectares of land to the Lagos State Government for agricultural purposes. https://www.nairaland.com/1084470/gov-amosun-allocates-500-hectares |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 8:34am On May 07, 2013 |
[size=14pt]LASMI to partner financially capable microfinance banks[/size] Tweet March 21, 2011 | 3:53 pm Finance By Amaka Abayomi In its bid to eradicate poverty and financially empower Lagosians, the Chairman of Lagos State Microfinance Institution (LASMI), Bashorun Alabi-Macfoy, has said the Institute is willing to partner with financially capable microfinance banks, MFBs, that have good assets and customer base to achieve total self empowerment of the poor. Speaking to Vanguard, Alabi-Macfoy said government has set aside a huge sum of money for micro lending and this would need MFBs to facilitate it. “For 2011, we are looking at continuation with MFBs because LASMI is looking for financially capable MFBs that have good asset and customer base, particularly those that are good at group or cooperative lending to partner with. “To this end, we have sent out our monitoring officers to watch their activities and visit their customers to see how they are performing because these would serve as pointers for us to know how to deal with them this year. But we would mainly deal with MFBs that concentrate on group rather than individual lending because the group pressure would force all the members not to default on payment.” Alabi-Macfoy said government, through LASMI, has been doing a lot to eradicate poverty and 250,000 people were empowered in 2010. [b]“In 2010, we extended our activities to the taxi cab operators who needed micro_funding because they get people to buy used vehicles for them and they deliver an agreed amount daily. At the end, they are poorer and the vehicles don’t belong to them. “Government to come up with a programme to partner with the taxi operators through the driver-owner scheme and at the same time, put new taxis on the road that would suite the mega city programme of the state government. “We went into agreement with some commercial banks for loan facilities and First Bank gave about N350 million for the purchase of 150 taxi cabs which we paid equity contribution on. The operators were registered through the Ministry of Transport and were asked to repay the loans monthly. We charge them 12 per cent which is far lower than the 22 per cent First Bank charged us. Also, LASMI single-handedly purchased 100 taxi cabs at the cost of N270 million and they are to repay the loan over 3 years. “The second major project was the Agric-YES programme, which is a youth empowerment scheme in agriculture in Epe, Lagos and N500m loans have been given through the Agric-YES project. There, young school leavers and graduates are trained in farming, poultry and fishing and it is affiliated to the University of Agriculture, Israel. “Some Israeli and Nigerian agriculturist teach them and some of the best students among the first 100 that started the programme were given scholarship to Israel for further studies. “Government did this for them to be able to produce enough food for sale and to groom young farmers. After the training, they form themselves into cooperatives and government gives them land and loans to buy the equipment that they will need.”[/b] Alabi-Macfoy said because the state government wants to ensure that as much people benefit from these revolving loans, LASMI intends to increase the number of beneficiaries through its partnership with MFBs. Though the state chairman of the National Association of Microfinance Bank, Mr. Olufemi Babajide, said they have received 183 applications from MFBs that want to partner with LASMI, Alabi_Macfoy said LASMI is capable of working with as much MFBs as possible, though the institute has not received any application. “Though we have not received any application from the state executives, but government has set aside a huge amount of money for micro lending. But we would mainly deal with MFBs that concentrate on group rather than individual lending because the group pressure would force all the members not to default on payment. “That said, our lending process is in two stages. First, applications are made here and management would review the financials of the MFBs and make recommendations which would be passed to the Board. From there, they are sent to the Investment Committee of the Board which again reviews them and recommends those we would partner with and how much would be committed based on their financials. “The second stage is seeking the governor’s approval for the release of fund. But we would try as much as possible to first consider those operating in rural areas.” He urged MFBs to employ the use of biometric system of identification of customers to mitigate the occurrence of bad debts. “The major reason for the huge bad debt they face is that they rushed into microfinancing without doing thorough customer identification and this is the cause of the bad loans. Most times, they do not go to where their customers conduct their businesses to know if they are doing what they said they do. “Another factor is the high level of poverty in the land and the lenient collateral on MFB loans which made most people to take advantage of the situation and disappeared with their money. Even their staffs are not left out as some of them disappear with customers’ money “So, for them to overcome the issue of bad loans, they need to instill proper corporate governance by ensuring that their staffs take their supervisory roles serious. They should also avoid the temptation of going for big offices, flashy cars and the likes. “That is why we are looking for MFBs that concentrate on group lending because the members know each other and would urge the other person to pay up to enable them apply for another loan. For instance, the Agric-YES loans are given to groups of farmers and are insured by the Agricultural Cooperative Bank, which was set up by government. “Despite the fact that government trains and makes money available to them, they are required to register as cooperatives and the money given to them is supervised by those who train them in the farm. http://www.vanguardngr.com/2011/03/lasmi-to-partner-financially-capable-microfinance-banks/ 1 Like |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 8:37am On May 07, 2013 |
Through the LASMI cabs scheme, taxi drivers are able to lease and own brand new taxis. Governor Fashola launching the LASMI cabs scheme. |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by wesley80(m): 5:37pm On May 07, 2013 |
Impressive. |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by CROWE: 5:59pm On May 07, 2013 |
PDPs response: How could he afford those things when we have tried to strangle the life out of state governments? We call foul, EFCC investigate the man, he is stealing "our" chop money to build a better Lagos, he MUST be corrupt!!! >.> |
Re: Why Is Eko Atlantic Legal, And Makoko Illegal (case Of Two Nigerias) by naptu2: 6:37pm On May 07, 2013 |
[size=14pt]Fashola Hands Over Mushin (17th) Skills Acquisition And Vocational Centre (pics)[/size] Eko Ile: https://www.nairaland.com/606262/fashola-hands-over-mushin-17thhttp://www.nairaland.com/606262/fashola-hands-over-mushin-17th |
40 Million Nigerians Jobless - Kolade / Jimi Agbaje Declares For PDP, Running For Lagos Guber / Sheakau Speaks English, Give Reasons For Fighting Western Education (video)
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