When asked about the huge debt he is leaving behind....some of Fasholas response.....The man should give the President elect and his Vp some lectures on Governance ....he go hard small for Baba ....but Prof nah

[b]If we don’t want a life of debt, then Lagosians must agree that we reduce our budget to what we earn. We have a budget of about N489 billion. Let us use our IGR as an example: N30 billion multiplied by 12 months is N360 billion. We are already in a hole of about N119bn. If Lagosians want us to reduce it, then will Lagosians agree to stop demanding more services? Certainly, no! Thus, this is the context. And when you look at the countries we aspire to be like: America owes $16 trillion – they owe the whole world – but they have the best space ships, aircraft and army, and they can decide what our military does with the debt they owe the world.[/size][/b]

People should understand that we won’t do any work because the money has not accrued. What do we do? We borrow against it. The banks which we collect it from know that we will pay because the money (IGR) comes through them. So, we take a loan. But we don’t borrow to pay salaries; we don’t borrow for recurrent expenditure, we borrow for capital investments. I cannot go and tell the person who is waiting to take his child to the hospital and there is no hospital space; that they should ‘wait, I am waiting to collect money.’ If I give you the contract to build a hospital, I cannot tell you ‘take one naira today, I am waiting for two naira tomorrow.’ It is not a way to plan construction. You must gather your building materials and you must move men to the site. We borrow from the banks. When the monies come, the banks deduct them.[quote][/quote]
http://www.punchng.com/politics/jonathans-acceptance-of-defeat-averted-evil-fashola/#disqus_thread

There's a difference when you borrow to pay recurrent expenditure like payment of salary to when you borrow to execute projects that have economic value.That's the difference according to BRF between Lagos and FG.Besides, when you have a consistent income that exceed your expenditure for 4years you don't resort to borrowing because the world will ask you what you did with the surplus income.

Not borrow to enriched others..but fo development I think dt is whr GEJ nd his men miss it. What can we point to as a meaningful dev dt GEJ nd his men achieved dt wl warrant dem leaving $60billion debt?

and who told u all the debt are for paying recurrent expenditure...do u have any hard facts that our earning exceeded our expenditure...Nope we never had surplus income oil price crashed, we are fighting a war, massive infrastructure renewal, Minimum Wage increased from 7500Naira to 18000 naira, Amnesty, Fuel subsidy... according to DMO

the debt is sustainable as sustainability analysis showed that the debt/GDP ratio is 11.6 per cent and Nigeria is at a low risk of debt distress, if the reforms embarked upon by the present administration in key sectors were retained and fully implemented. The bulk of the federal government loans were concessionary with low interests and long moratorium