edogirl2:

Well, together these states are responsible for about 40% of the country's non-oil GDP. So why is the Op surprised that they have a similar ratio of the debt.


This is like someone saying Nigeria is responsible for 60% of total national debts among West Africa countries. Well, where is the 'news' in that statement.

ola6: Notice my "sophisticated" progressives will avoid this thread. Are we Yorubas sane or blind?! Can't we see we are selling our future and kids future to the Tinubu/APC dynasty?!

Some "enlightened" people will soon come to start telling this is a healthy debt. We are killing our region with APC!!!

ujoinme:

chei! borrow borrow go kill south west o.

atlwireles:

Where did you get that lie?

The state’s GDP figures released in September 2012 provide some interesting insights into the Lagos economy. The state has a GDP figure put in excess of N12 trillion or $81 billion as of 2010. Its economic size is about 35.6 percent of Nigeria’s 2010 GDP but a significant 62.3 percent of Nigeria’s non-oil GDP.

http://businessdayonline.com/2013/04/examining-lagos-state-gdp-figures/#.U_ebPfldWVY

Fashola4thSon: My South west people are all in danger

We are death

ola6: Notice my "sophisticated" progressives will avoid this thread. Are we Yorubas sane or blind?! Can't we see we are selling our future and kids future to the Tinubu/APC dynasty?!

Some "enlightened" people will soon come to start telling this is a healthy debt. We are killing our region with APC!!!

johnmartus: oponu does tinubu governs any state in the southwest? or why are you obsesse about tinubu are you blind you do not know what is going on in the southwest note that development you and l witness today in the southwest was not done by stone tell me a single project that Jonathan administration has executed in the southwest no state can competence southwest state among the dessert ibo state except imo state with all the federal government attention in southeastern southwest still her head of others region in Nigeria you better change your cunning attitude

IGBOSON1: It's the one of Lagos that surprises me.....considering the huge amount they make from IGR! Also, don't forget Lagos residents have some of their roads/bridges tolled as well! All the money Tinubu makes through some of his companies like Alpha-Beta could have helped in paying off a large chunk of this debt!

I thought it's been said that Rochas borrowed 200 billion naira? From the table above, Imos debt is just about 10 million dollars more than some of its sister states......like Anambra for instance!

ola6: All hail the "sophisticated progrethieves". APC... all poverty creation! APC... Asiwaju private company!! APC...Asiwaju Personal Congress!!!
Abeg, let Ambodillion continue jare! Awon ole!!! Upon all the double taxation, tolls and bills...

aresa:

The state’s GDP figures released in September 2012 provide some interesting insights into the Lagos economy. The state has a GDP figure put in excess of N12 trillion or $81 billion as of 2010. Its economic size is about 35.6 percent of Nigeria’s 2010 GDP but a significant 62.3 percent of Nigeria’s non-oil GDP.

http://businessdayonline.com/2013/04/examining-lagos-state-gdp-figures/#.U_ebPfldWVY




Get educated for your own good...

So, $81B of $509B national GDP is 35%

danot1030: Op joblessness is turning u to a yaba left candidate o, I just hope ur people notice u on time before u trek from Aba to Kano.

atlwireles:

So, $81B of $509B national GDP is 35%

aresa:



40% of Nigeria's non oil GDP is from where? That's the question and the Answer is LAGOS STATE.

edogirl2:

Well, together these states are responsible for about 40% of the country's non-oil GDP. So why is the Op surprised that they have a similar ratio of the debt.


This is like someone saying Nigeria is responsible for 60% of total national debts among West Africa countries. Well, where is the 'news' in that statement.

aresa: See olodo debt logic.

... Is this not why they are ahead of your villages and commission projects everyday while you remain backward and also why your villages haven't commissioned even one single classroom in almost 16 years?


You people and your illiterate logic sef..

oneeast2: See what Tinibu has done to SW..

omongbatic:

Minus your debt from your credit, then all SW states = zero growth.

Where even is the evidence of what the money is used for?

vislabraye:

May be h. Apart from Lagos that is the richest state, what has the rest contributed to make the

owobokiri: What do you expect from the same clan that introduced the culture of spraying crispy notes on musicians at ceremonies then went ahead to start the practice of organising burial ceremonies for relatives who died centuries ago, just because a living relative just "hammered"? The same bunch that invented the ultra "sophisticated' harbit of looting the treasury to buy up real estates in London. The same group that will throw an owambe for child naming ceremony, car washing ceremony, promotion ceremony, London visa ceremony, house opening ceremony etc and have major streets blocked just to dance and jolly. Our dear fun lovi.g rethrens from the sw. . The nemesis of NITEL, NEPA, NIGERIAN AIRWAYS, NIGERIAN SHIPPING LINE, etc? Put succintly; it is an ostantious culture that can only be financed through acute kleptomania.

manny4life:

I beg to disagree...As much as I like GEJ in some of his policies, I have criticized him particularly in rising debt. I strongly believe in financial prudence, borrow only if it's necessary and for capital projects. Based on the information we have, I haven't seen an justified borrowing for these states to plunge their citizens into such debt. GDP/Debt ratio is a good test but not always valid. This is why the U.S. is holding every economy to ransom. Their GDP/Debt ratio is at a tipping point.

As for what have other states contribute, I put it that you may have well been biased not to see what other states are contributing. There are too many capital projects from SE to SS and even the north. I disagree with you on this part. After all, wasn't it last month or so that GEJ commissioned the petrochemical plant or power generation plant. How will you classify the investment cost into that? There are many capital projects ongoing in various parts of the country. Just take a moment and look for them, you will find them.

aresa: [s][/s]


The thread is not a platform for you to show us how bigoted and unintelligent you are...

atlwireles:

The states have borrowed more monies in the last 4 years than the federal government. When GEJ became president the National external debt was $4.5B in 2010. The federal government issued Euro bonds for about $1.5B and received another $1.1B concessionaire loans from China. Most of those monies are currently used for both the Airport and railways reconstruction projects. The other $3.5B are states loans, from Lagos metro project to Rivers City water project etc. The federal government can pretty account for its loans, the problem are the states.

manny4life:

That's the whole point... The FG is responsible for these loans because it act as guarantors, so at the end of day, whether it's a state or FG, it's more so FG debt should the states default.