Billyonaire:

Eko Atlantic is a project I love, and I am on the thought process on how to advance my personal gains over there, but does not mean that I do not understand the dynamics of the ownership structures.

software man:
first, you show complete ignorance or deliberate mischief right of the bat by not understanding what budgets are and what a concession arrangement is.
basically, the big idea behind the lekki concession is to transit from infrastructural development to investment. of is the concessiomaire's money that builds the infrastructure and manages it for a given period of time to recover its money and make some profit. there is no govt money involved and therefore no budget..

the second incredibly stupid part of your post is the implication that the entire budget of Lagos state for the year was meant fto build or buy back the lekki expressway.
The actual figure for the buy back that the govt is seeking a supplementary budget for , even when clearly stated , is invisible to you.

please let us have a proper discussion on polo y matters and stop all this obsession with tinubu. it seems this obsession is beclouding your thinking and making you write meaningless jargon.

awhagwan:

Must you display your stupidity so publicly? LCC came into being in 2006, and does not belong to the Chaghoury's. They hold a small stake in Hitech. That's it.

Furthermore, APC is now playing catch-up to the PDP led FG who cancelled Bi-Courtney's concession on Lagos Ibadan expressway within 3 years of the award. LCC have been on Lekki Epe Expressway for 8 years and have exploited the people for at least 3 years out of that 8!!!

Billyonaire:

Not really, LCC is actually owned by Tinubu and Fashola via their Surrogates, what happens is that the Eko Atlantic City, which they own majority of, is a better investment for them, so they are looking for a way to get more funding from state funds to push the construction, so it becomes necessary for them to let go the Toll in exchange for the billions and use the billions on the Eko Atlantic Project and Free Trade Zone project, its all thievery.

My Time Shall Come.

t-something:


You don't need to throw insults up and down to make your point. I asked simple questions and you are replying questions I never asked.

My questions are these......

How many years will it take Lagos to complete a 50Km road that is tolled at every 10km interval ?

Lagos spends over 500 billion annually for about 14 years, can you sincerely point out to infrastructures worth this amount?

There are current plans to reduce the burden of Lagos ports (both seaport and airport ), this would result in decreased revenue , except the Govt increases the current tax burden , how do they intend to repay the 610 billion debt if by now that things are good, the govt is still planning to increase its borrowing ?

Those simple questions you couldn't answer, yet you went about insulting your parents who couldn't teach you how to argue objectively in a public forum .

Emperor_007: The toll has been a fraud from day one, and it's on record that Fashola is a party to this fraud.


Where on earth does one collect toll, without having an alternative route first?




.

Billyonaire:

You are probably a novice and do not live in this axis, I live in the axis and dine with the major players here, I do not discuss with people who are easily deceived. Did you expect Fashola and Tinubu to come out openly to say that they own LCC ? Politicians use surrogates to conduct high-class thievery, I guess you will still say Julius Berger Nigeria belongs to Germany, instead knowing it belongs to IBB. Young man, when I make a statement, take it as wholesale truth, I do not say things I am not sure of. Eko Atlantic is a project I love, and I am on the thought process on how to advance my personal gains over there, but does not mean that I do not understand the dynamics of the ownership structures.

Back off or you get barked down.

software man:
first, you show complete ignorance or deliberate mischief right of the bat by not understanding what budgets are and what a concession arrangement is.
basically, the big idea behind the lekki concession is to transit from infrastructural development to investment. of is the concessiomaire's money that builds the infrastructure and manages it for a given period of time to recover its money and make some profit. there is no govt money involved and therefore no budget..

the second incredibly stupid part of your post is the implication that the entire budget of Lagos state for the year was meant fto build or buy back the lekki expressway.
The actual figure for the buy back that the govt is seeking a supplementary budget for , even when clearly stated , is invisible to you.

please let us have a proper discussion on polo y matters and stop all this obsession with tinubu. it seems this obsession is beclouding your thinking and making you write meaningless jargon.

bigass: USA currently has a debt of about 20Trillion doLlars. How are they going to pay back

oxford: fashola is fraud
tinubu is a thief
apc is a looting machine
lagos don baje since 12 years ago
lagosian don see wenn under acn/apc

best thing for lagos is to port
the time to port is now
port to teamfreshair

t-something:



since you couldn't answer my questions I asked earlier , let me reduce this concession fraud to the level you would understand .

[b]The concession agreement is supposed to run for an agreed period of time during which the concessioniare is supposed to construct and continuously maintain the road infrastructure for the period stated in the agreement . He is to recover his investments by tolls and other services on the road.

Now coming back to Lekki road, the concessioniare isn't recovering any investment from the tolls , rather they are generating funds that would be used in constructing the road. Why am I saying this? You recover your investment if the road had been completely constructed , but in this case the road hasn't been completed yet users are being tolled.

Now the Government wants to do something, wouldn't they have just cancelled the contract due to non performance / breach of contract by the concessioniare , rather they want to buy back the concession agreement with 7 billion .

Ask yourself how much has the concessioniare invested so far on the road? How much have they generated by way of tolls and advert on the uncompleted road? So why are you still paying them 7 billion instead recovering money from them[/b]?

My brother wake up and smell the coffee , Lagosians have been scammed by one of the greatest scam artists in Africa.

By the way who tolls a road leading to a predominantly residential area without providing an alternative toll free road?

james_ibor: So Fashola had to wait until Tinubu became incapacitated before landing this blow on Tinubu's LCC.

No long thing, God dey sha!

abhosts: That does not mean that tolling would stop. The Tolling Proceeds would simply be diverted to the State Government.

software man:

i answered your questions but you did not understand. so i will try again.

How many years will it take Lagos to complete a 50Km road that is tolled at every 10km interval ?

The number of years it takes to build any particular lenght of road depends on a good number of factors that i as outsider cannot answer.

Lagos spends over 500 billion annually for about 14 years, can you sincerely point out to infrastructures worth this amount?

haba. in 1999, the entire lagos budget was 1 billion naira only.Even though this increases every year as a result of superb economic management of the tinubu / fashola administation , it only came to 492 billion this year.
secondly, the budget of a state does not go into building infrastructure alone( workers salaries,recurrent expenditures,education, health, environment etc) are included. so your question makes no sense whatsoever.

thirdly,The fact that you budget a particular amount in a year does not mean that you will realise that same amount.(while the budget performance of the tinubu / fashola administration avarages 65% in the past fourteen years, the PDP federal govt has being abysmally less than 30% on the average.)

There are current plans to reduce the burden of Lagos ports (both seaport and airport ), this would result in decreased revenue , except the Govt increases the current tax burden , how do they intend to repay the 610 billion debt if by now that things are good, the govt is still planning to increase its borrowing ?

The statement 'There are current plans to reduce the burden of Lagos ports (both seaport and airport ), this would result in decreased revenue' makes no sense to me. are you saying that the government is planning to reduce economic activities in the lagos and apapa seaport? What percentage of duties from ports and airport which is collected by the the federal government comes to the lagos state government?

A government that increases its internally generated IGR by nothing less 200% every year for the past fourteen years and that is projecting 40 billion monthly IGR within the next two years does not have to worry about a debt profile of 610 billion.

The important thing is to continue to invest in infrastructural development,security etc in order to continue to attract private sector investments(which is the major engine of growing a mega city world wide).
The state of new york and California in the US are richer than most countries and still carries debts totalling billions of dollars.

I hope i have now answered your questions.

marleymcintosh: I wonder what cancelling of concession has to do with stopping tolling on the road. A majority of those who complain about tolling have never passed the corridor since it was built! Tolling the road is for public good as long as the proceeds return to the state government or the company holding the concession.
How do we expect the concessionaire to recoup its investments on the construction and maintenance?
On the question of alternative routes, they have provided. During peak periods, it it faster to go through the alternative routes than the toll gates. So what all the fuss about?
If government decides to build a bridge connecting two communities like Ikoyi and Lekki phase 1 and toll the road, it is your choice to pay up or ply the admiralty - ozumba - falomo bridge - kingsway road route. Your time of cash, you decide which is more valuable to you.

t-something:
N507billion Budget , yet a 50Km road with toll gates at every 10Km could still not be completed 8 years after?
Even with an already huge debt profile of 610 billion , Bros Fashola just announced he will have to borrow more.

Lagosians can you guys boast of 500billion infrastructure X 14 years? By the time Fashola and Tinubu finish with you guys, your unborn generation will still be paying these huge debt, don't forget unlike South South states that depend on oil for their allocations , Lagos depends on businesses due to its strategic position as a major entry point into Nigeria, and with the diversification of these ports, like proposed Ibaka seaport and now Akanu Ibiam international airport , Lagos may have to share patronage with these cities hence reduction in revenue . So how does Fashola intend to repay 610 billion (and still counting) debt??

This a question sensible Lagosians should ask

publisher: [size=13pt]This is where corruption in Lagos rears it's ugly 'Tinubu' head.
How do you concession the building ,construction and management of a major highway to a start-up company(LCC) that has NEVER embarked on any major construction anywhere in Nigeria or the world?[/size]

Sincere 9gerian:
Worse still is the fact that the people of that area have been raped, financially, through the failed concession agreement. Yeye!

Lagos police brutalise Lekki toll gate protesters

Officers of the Lagos State Police Command today brutalised defenceless citizens protesting the introduction of a toll gate along the Lekki expressway in Lagos. Eye witnesses say the police threw caution to the wind as they tear-gassed, pushed, shoved, beat protesters, leaving some of them unconscious, the Nigeria Police Watch is reporting.

Some protesters, we are told, were arrested and taken to an unknown destination. Fully armed officers were dispelled to quel the protest which was peaceful until the police moved in.

http://premiumtimesng.com/news/3153-lagos_police_brutalises_lekki_toll_gate_protesters.html

ImperialYoruba: I dont get it

Everytime Lagos and Fashola in news all kind of carricature and pouripoussu, the homeless and the transient, the jobless and the na.ked carry their toothless gum begin yarn nonsense to defame His Excellency. Awon alakoba,, oniyangi, look, multiple pages already within 2hrs.

I see multitude threads out there already talking about confusion in Taraba, Rivers and Anambra, some of them opened over 24hrs and barely made 1 page yet. I need you all to disperse and vamoose and leave Fashola alone abeg. aahah, kilode!!