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FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) - Politics (6) - Nairaland

Nairaland Forum / Nairaland / General / Politics / FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) (24446 Views)

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Re: FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) by nelsonoba: 9:49pm On Feb 27, 2015
datribune:


Hahahaha ok TANoid, i hear u, GMB doesn't know d full meaning of APC but ur own level of ignorance of nigerian history is shocking. Here's a crash course.
Buhari took over nigeria in d worst economic recession in our history. d thieving politicians of d NPN d ancestor of d current PDP looted d nation to bankruptcy to d extent dat no one would borrow d heavily indebted Nigeria any more money. There was no food, no money. Soap, milk, sugar etc popularly called essential commodities disappeared from d shelves just like in Zimbabwe. d federal govt could not pay staff salaries. Few states were able to apply d IMO FORMULA - (half salary) pioneered by Kalu Idika Kalu d then Imo state comm 4 finance.  Multinationals like kingsway, UTC, PZ etc left d country. Daily more people became unemployed. In short d economy collapsed. NPN vampires partied away conspicuously while nigerians groaned in unimaginable suffering. d warehouses were full while d market stalls were empty & d masses suffered. Fortunately 4 nigeria, d patriotic duo of Buhari & Idiagbon came to d people's rescue. d warehouses where d NPN criminals hoarded foodstuffs & commodities were thrown open & d nigerian people were given relief. It was a new day 4 d nigerian people & they were grateful to Buhari & Idiagbon.
Even GEJ knows dat he has lost dis election, hence d desperation dat has turned him to a political Almajiri begging & kneeling 4 votes & shouting himself hoarse dat he promises to do better.
Unfortunately 4 d man who didn't giv a damn, it's no longer about APC or PDP, it's about us & d masses hav decided dat stealing is indeed corruption. GEJ ouuuuutt!



Ok sir........no problem. Buhari will solve all our problems by waving his magic wand.

But please i still want you to watch Buhari's Al-Jazeera interview on Youtube and hear him call your party "All Progressives CONFIDENCE". I would have loved to see the look of disappointment on your face while listening to your great leader Buhari and suddenly realizing he doesn't even know the name of his own political party grin

1 Like

Re: FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) by Osakah24(m): 10:23pm On Feb 27, 2015
nelsonoba:


No I disagree! GEJ knows that PDP means "People's Democratic Party", but Buhari in his recent Al-Jazeera interview says APC is "All Progressives CONFIDENCE". You can go to Al-Jazeera Youtube channel to watch the interview now and verify if what i'm saying is made up or not.

A man who does not know the name of his political party on whose platform he seeks to be President is certainly a clueless illiterate or at best semi-literate.

Such a man is dull, lacks finesse and is a stranger to wisdom. GEJ may not have done all i expected him to do, but he has certainly performed far better than past administrations and Buhari is never as nearly as good as GEJ. No wonder it is on record that the Nigerian Economy was in a huge mess in 1985 when IBB toppled Buhari, and when the news of the coup was announced, mass jubilations broke out in the streets across the country. A vote for Buhari is a vote for lies and bondage!
The man even think INEC means Independent Nigerian Electoral Commission
,The man is a dinosaur.

1 Like

Re: FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) by Osakah24(m): 10:30pm On Feb 27, 2015
Lazon:


By the time the Naira they're paying you for posting this crap loses whatever value it has left, you'll realise you sold your soul and were paid with your own blood.
A thief is always very quick to accuse someone else.Its as if you guys live in dreamland to think anyone with different views to yours is doing it for money.

1 Like

Re: FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) by datribune: 10:31pm On Feb 27, 2015
nelsonoba:


Ok sir........no problem. Buhari will solve all our problems by waving his magic wand.

But please i still want you to watch Buhari's Al-Jazeera interview on Youtube and hear him call your party "All Progressives CONFIDENCE". I would have loved to see the look of disappointment on your face while listening to your great leader Buhari and suddenly realizing he doesn't even know the name of his own political party grin

Ok let's cut d crap. Doesn't it sound more plausible dat GMB, a General of d nig army, fmr head of state, an alumni of d prestigious US war college & dat of d institution now called d NDA & also presidential candidate of d APC probably had a slip of tongue than dat he doesn't know d meaning of APC?. I'd be greatly disappointed if u think he doesn't know d meaning of APC. I don't know about u but i'll giv him a pass on dat minor gaffe.
Buhari has no magic wand but we can't go on dis way?. d meaning of insanity is doing d same thing & expecting a different result. Thankfully both major candidates hav held power b4 wit differing results & impact on d citizenry. Despite some of d most vicious media attacks, GMB's performance while in office is d reason why knowledgeable people wit a sense of history still revere him & yearn 4 a return to d good old days when GMB held d reins of power.
We cast away our deferences & voted massively 4 a man who once had no shoes but he betrayed our goodwill on d altar of rabid corruption wit his trickle-down economics dat favour d rich at d expense of d poor. Nigerians shall reject GEJ, NOI, d PDP & their cabal of govt sponsors who continue to strip our nation of its assets & share our national patrimony among themselves in deals dat reek of corruption & infamy.
Guy, d handwriting is on d wall - GEJ is on d homestrech of his inept presidency. SAI BUHARI
Re: FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) by Osakah24(m): 10:33pm On Feb 27, 2015
dele1727:


Where was this 3years and 9months ago, why is only APC state geting this now ...3months to the end of his administration. ....me I know when somebody is trying to deceive me.....I guess you don't
You should be asking the question to those Apc governors that are requesting for loan three months to the expiration of there tenure. Federal government is just granting permission for them to borrow,the money is not coming from FG.

1 Like

Re: FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) by Osakah24(m): 10:39pm On Feb 27, 2015
datribune:


Hahahaha TANoids no go kie pesin. ok GMB doesn't know d meaning of APC. Lol.
It's easy to know those who get their info frm Okupe Okugbe's Twitter handle. Nigerians jubilated wildly when Buhari came to power not when he was overthrown. 
GMB is an alumni of d prestigious US war college & dat of d institution now called d NDA.
GEJ on d other hand has a PHD in d study of animals.
In leadership terms comparing a corrupt, inept & failed president to d leader of a corrective govt dat brought d nation back frm d brink of total economic collapse is like comparing an ant to an elephant. In terms of leadership & governance of our nation, we call GEJ clueless because he appears confused, overwhelmwd & doesn't know what he's doing & that was why fmr American Presidential candidate John Mccain derisively reffered to him as "some guy called Goodluck Jonathan.
U must be joking if u think Nigerians will repeat d mistake of "I had no shoes of 2011 in 2015".
We can't go on dis way. SAI BUHARI

buhari is taking praise meant for idiagbon if there is any,the man was a stooge.Oga for mouth, Idiagbon travels and they chase him away easily.

1 Like

Re: FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) by datribune: 11:14pm On Feb 27, 2015
Osakah24:
buhari is taking praise meant for idiagbon if there is any,the man was a stooge.Oga for mouth, Idiagbon travels and they chase him away easily.

What u look 4 in a president is sound judgement & d ability to surround him/herself wit a good team. Idiagbon was a good member of d team but it was a team made up of credible individuals. What will we say about d contributions of achievers like d head of d economic team Dr Onaolapo Soleye.
When GMB came to power, d western lenders & IMF knew dat d country had been severely weakened by d debt situation created by d corruption & profligacy of d thieving politicians whom Buhari eased out of power. They therefore saw an opportunity to hold our country to ransom & foist on our hapless & severely weakened nation d neo-liberal economic policies of d IMF wit its several slavish conditionalities including d devaluation of d naira. d economic team led by d minister of finance, Dr Onaolapo Soleye devised an ingenuous system of barter 4 oil. This was highly successful & it stabilized d economy. Thru d contributions of dis men Nigeria was able to call d bluff of d IMF. d naira was not devalued, d inflationary rate was kept at between 3-5% & d exchange rate at $1 to 1 naira.
Yes, it was a team of patriots led by d General. d buck stops at d table of d head of govt. whether good or bad. Fortunately 4 Buhari he made d right choices & he deserves all d praise he's getting just as he would hav gotten all d blame if his choices were wrong. GMB is one of d greatest nigerian leaders of all time. SAI BUHARI
Re: FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) by Adminisher: 1:02am On Feb 28, 2015
deskossy:
In all honesty Gej is a good man.....obasanjo will never do this

The FG does not approve loans for states. The CBN which should be an independent body guarantees all external loans taken by the states. The FG dared not to interfere with this loan in an election year. He don finish for Dem be dat even before elections.
Re: FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) by bboshodi: 1:53am On Feb 28, 2015
emekaxy:
FG approves $403m loans for Lagos, Rivers, Ogun, Osun

Vice-President Namadi Sambo
The Federal Executive Council on Wednesday approved the request of Lagos, Rivers, Ogun and Osun states to obtain foreign loans totalling about $403m, among other approvals.

It also approved a $1.2bn multi-donor credit for the establishment of the proposed Development Bank of Nigeria.

Other foreign loans totalling $295m were approved for developmental projects across the country.

The different foreign facilities were approved at a meeting of the council presided over by Vice President Namadi Sambo.

President Goodluck Jonathan was absent at the meeting because he travelled to Sokoto where he attended the 90th birthday of former President Shehu Shagari.

The Minister of Aviation, Mr. Osita Chidoka; Minister of State for Finance, Ambassador Bashir Yuguda; Minister of Water Resources, Mrs. Sarah Ochekpe; and Minister of Education, Mallam Ibrahim Shekarau, briefed State House correspondents at the end of the meeting.

Yuguda said the fact that most of the loans guaranteed by the Federal Government were for states being governed by the All Progressives Congress further confirmed Jonathan’s position that he was the President of all Nigerians.

He said the President had made a distinction between governance and politics, and would not trivialise his office for any reason.

According to the minister, the council approved the request for a $100m credit from the French Development Agency in support of the Lagos Integrated Urban Development Project (Eko-UP).

“The facility is meant to improve living conditions of the most vulnerable urban population of metropolitan Lagos, improve the management and treatment of solid waste, strengthen the capacity of Lagos State and implement urban development projects in Lagos State,” he explained.

Yuguda gave the repayment period of the loan as 20 years, including seven years moratorium as well as commitment fee of 0.25 per cent of the total per annum and an appraisal fee of 0.25 per cent.

The project has three major components: slum upgrading in Ifelodun and Bariga Local Council Development Areas by the Lagos State Urban Renewal Authority; construction of solid waste management facilities by the Lagos State Waste Management Authority; and provision of capacity building and technical assistance for LASURA, LAWMA, the Project Management Unit and the two LCDAs.

For Rivers State, Yuguda said the council gave approval for the $200m African Development Bank’s credit facility for the proposed Port Harcourt water supply and sanitation project as well as an African Development Fund credit of $5m to support the Urban Water Sector Reform Project.

Yuguda said the credit facility would be secured from ADB with a repayment period of 15 years and five years moratorium, adding that the interest was enhanced variable spread loan, with lending spread of 0.60 per cent per annum, translating to 1.56 per cent.

For the ADF, he said the principal would be repaid over a period of 22 years, with eight years grace period and interest rate of one per cent per annum.

According to the minister, the council also approved a $33.174m credit from the French Development Agency in support of the Ogun State Water Supply Project.

He said the facility would be secured from the FDA on blend terms, with an interest rate of six months Libor plus margin; repayment period of 20 years, including seven years moratorium; commitment fee of 0.25 per cent per annum and an appraisal fee of 0.25 per cent.

Yuguda explained that the credit would be on-lend to Ogun State on the same terms and conditions offered by the FDA to the Federal Government.

For Osun State, he said the council approved an Islamic Development Bank’s loan of $65m for financing water supply and sanitation projects in the state, adding that the loan would be repaid over 15 years, gestation period of four years and mark-up Libor + 155bps or to 1.5 per cent per annum.

On the $1.280bn for the establishment of the proposed Development Bank of Nigeria, the minister said the loan would come from the International Bank for Reconstruction and Development, World Bank, Africa Development Bank as well as the Germany and French Development Agencies in the sums of $500m, $450m, $200m and $130m, respectively.

He said the proposed bank would give credit facilities to micro, small and medium enterprises in the country.

Source:

http://www.punchng.com/business/business-economy/fg-approves-403m-loans-for-lagos-rivers-ogun-osun/
Re: FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) by bboshodi: 2:15am On Feb 28, 2015
Infact I can now deduced that most people on this platform are mediocres. Celebrating GEJ for approving loan, when we are supposed to be availing loans to others- shame! If the country wealth has bn managed properly, would you have requested for facility in d first place?

How much have they committed in campaigns so far? Where is the N30trillion Soludo talked abt- they could not account for? N6 or N7B given to pastors? alleged N20B given to PDP seating govs for campaign?
Missing $20 or 40B non remittance to the Federation Acct?

One idiot will say gej is a true Democrat. I sorry for you.
Re: FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) by OneNaira6: 3:12am On Feb 28, 2015
alotofgrace:
Lagos is collecting loans?

what happened to the toll fee we pay everyday?

On Tinubu bank account na

2 Likes

Re: FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) by nelsonoba: 1:43pm On Feb 28, 2015
datribune:


Ok let's cut d crap. Doesn't it sound more plausible dat GMB, a General of d nig army, fmr head of state, an alumni of d prestigious US war college & dat of d institution now called d NDA & also presidential candidate of d APC probably had a slip of tongue than dat he doesn't know d meaning of APC?. I'd be greatly disappointed if u think he doesn't know d meaning of APC. I don't know about u but i'll giv him a pass on dat minor gaffe.
Buhari has no magic wand but we can't go on dis way?. d meaning of insanity is doing d same thing & expecting a different result. Thankfully both major candidates hav held power b4 wit differing results & impact on d citizenry. Despite some of d most vicious media attacks, GMB's performance while in office is d reason why knowledgeable people wit a sense of history still revere him & yearn 4 a return to d good old days when GMB held d reins of power.
We cast away our deferences & voted massively 4 a man who once had no shoes but he betrayed our goodwill on d altar of rabid corruption wit his trickle-down economics dat favour d rich at d expense of d poor. Nigerians shall reject GEJ, NOI, d PDP & their cabal of govt sponsors who continue to strip our nation of its assets & share our national patrimony among themselves in deals dat reek of corruption & infamy.
Guy, d handwriting is on d wall - GEJ is on d homestrech of his inept presidency. SAI BUHARI


No Sir it doesn't sound more plausible! If such gaffes happened just once, then i would cut him some slack, but not when he has said all of the following:

1) APC = All Progressives CONFIDENCE
2) INEC = Independent NIGERIAN Electoral Commission
3) Professor Yemi Osinbajo = Professor Yemi OSUBADE

A man who can't remember his party name or the name of his running mate for an election or the name of the electoral body to conduct the election in which he is contesting must be a very dull man. He has no iota of brilliance in him.

You claim Buhari was a General, an alumni of US War college, but you fail to realize that we already know the fact that by default as a military officer he is meant to be sent to such schools by the army. The question should be WHY IS IT SO DIFFICULT FOR BUHARI TO SHOW US A COPY OF HIS SECONDARY SCHOOL CERTIFICATE? He showed us a quickly forged copy of his statement of result, but why can't he just show us a copy of his original or at least contact Cambridge for a replacement copy if he really had an original that was misplaced?

In your view Buhari is incorruptuble but his closest political partner is Tinubu a.k.a. Mr Corruption himself!

Buhari is incorruptible but he was implicated in a missing $2.8Billion investigation under the Petroleum Ministry while he was Minister of Petroleum under Obasanjo's military regime, and before the Senate under Shagari's Administration could publish it's enquiry on the scandal Buhari acted fast and overthrew the Government.

Buhari is a man of integrity but he can lie under oath to say his original certificate is with the military, only for the military to refute his claim and then all he could say is that he didn't know it wasn't with the military.

Buhari is a man of integrity but he can come out openly to say that Abacha's Government was not corrupt.

Buhari is a man of integrity but he can lie to us that he doesn't have N27million to buy presidential nomination form, and tell us he has only N1million in his account, but his children school UK where school fees are paid in millions of Naira, and his wife so easily donates drugs worth N135million to internally displaced persons.
So much for a man of integrity! Integrity my foot!!

1 Like

Re: FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) by jamace(m): 6:02pm On Feb 28, 2015
alotofgrace:
Lagos is collecting loans?

what happened to the toll fee we pay everyday?
Don't mind Fashola the noise maker. Lagos is a boys quarter state with better financial muscle. But alas, the cluelessness of Fashola will not allow Lagos to grow.

1 Like

Re: FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) by alotofgrace(m): 6:19pm On Feb 28, 2015
jamace:
Don't mind Fashola the noise maker. Lagos is a boys quarter state with better financial muscle. But alas, the cluelessness of Fashola will not allow Lagos to grow.

Fashola clueless? U wicked sha
Re: FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) by jamace(m): 6:27pm On Feb 28, 2015
alotofgrace:


Fashola clueless? U wicked sha
This Fashola of a guy is a propagandist. Looking at the huge revenue accruing to that boys quarter state called Lagos, Fashola should have turned it into eldorado but for where. Fashola is only interested in castigating the man in charge of all the states of the federation, including Lagos for nonperformance. Fashola is a failure trying to distract attention from his shortcomings by blaming GEJ.

1 Like

Re: FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) by alotofgrace(m): 6:36pm On Feb 28, 2015
jamace:
This Fashola of a guy is a propagandist. Looking at the huge revenue accruing to that boys quarter state called Lagos, Fashola should have turned it into eldorado but for where. Fashola is only interested in castigating the man in charge of all the states of the federation, including Lagos for nonperformance. Fashola is a failure trying to distract attention from his shortcomings by blaming GEJ.

Well...no doubt... he's an educated looter

1 Like

Re: FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) by hush15: 11:41pm On Feb 28, 2015
tolextony:
5 DEFINITIONS OF STUPIDITY.
Stupidity is When:
1) You Earn less than #30,000 as a graduate and
still chant "Gej 4 2015".
2)You charge your phone with
a generator and come online to type #GEJ 4
2015".
3)You purchase fuel at #87 per litre and refuse
to ackwledge the fact that you have been
cheated "Gej 4 2015".
4)You import Goods from abroad at #209 per
dollar instead of #159 per dollar yet you are a
Gejite.
5)You support a man who can't refund or give
account of missing $20BN.
"THAT IS STUPIDITY"
"THERE IS NO LICENCE FOR NONSENSE".
#VOTE_GMB_4_2015.
#March4Buhari.

The foolishness is when you say an incumbent government is not doing anything and yet gets your loan approved for the development of you catchment area.... AP Rubbish!!!

2 Likes

Re: FG Approves $403m Loan For 4 APC Governors (lagos, Rivers, Ogun & Osun) by queensmith: 11:42am On Mar 01, 2015
I'm totally ignorant on this subject.

Is the loan a domestic one or to foreign institutions?

If the latter isn't there some sort of responsible lending policy that ensures states outline exactly what the money will be used for before the loan payments are made?

Especially if made to corrupt governments??

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