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Nairaland Forum / Nairaland / General / Politics / N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others (21376 Views)
Buhari Inherited N600bn Oil Marketers’ Debt, Says FG / FG Borrows N600bn Annually To Augment Staff Salaries, Says SGF / N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others (2) (3) (4)
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Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by bashydemy(m): 9:16am On Sep 12, 2015 |
DrLee:Thought the project have been paid for by GEJ, Oh..maybe the money was embezzled instead of paying the contractor. |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by wristbangle: 9:16am On Sep 12, 2015 |
DONMAYOR19: Is GEJ the solution to Nigeria? |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by Nobody: 9:19am On Sep 12, 2015 |
why? |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by omowolewa: 9:21am On Sep 12, 2015 |
You got it wrong by placing the blame on PMB or any government's door step, its a commulative effect that this government need to work hard on. Apologies to GEJ, His administration kept awarding contracts with only mobilisation fee paid. The contractors were sent to the bank but government refused to pay. They are been disturbed now by both banks and insurance companies why stood for them PMB only needs to double up efforts. Emusan: |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by erico2k2(m): 9:21am On Sep 12, 2015 |
oluwafemi113:That thing inside ur skull is called a brain plz use it. |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by fascowilly(m): 9:21am On Sep 12, 2015 |
[quote author=ZKOSOSO post=37923713] Ol Boy, na long life collect u so oo! God go just de bless u any how for this piece of my heart wey u blow out. APC winchi don collect brain from most naijas o! Buhari is a Man from Hell!! [/what will you say? We know amount that entering your pocket when that your useless brother governing this nation who will you side? Omokomo.] |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by fascowilly(m): 9:25am On Sep 12, 2015 |
[quote author=oluwafemi113 post=37923928]The contract have to follow due process The immediate past administration was a fuc.k [/hmmm, you so so so so right.] |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by Bhanjea: 9:27am On Sep 12, 2015 |
DONMAYOR19:U just publicly show ur ignorance and have won urself a place in the clown's hall of fame.....don't u know under the constituted government/contractor agreement during bidding and tendering,that a contractor will only abandon a project if he/she receives no capital sum from the government for ova 8months.......since wen has worked stop on lagos-ibadan expressway! I don't tink u even know where dat is cos u sound lyk a BRACED indigene to me..u re talking abt benin-ore road,which I do ply,can't u see dat the road is only sound from Ofosu to benin,u can't see all dose pot-hole at ore to oni-globe......know ur facts very well and u re not the only one that plys dat road.... 1 Like |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by fascowilly(m): 9:38am On Sep 12, 2015 |
[quote author=porka post=37924987] [size=13pt]Africa magic Yoruba's English.[/size] [/igbo man see your life, you don't know what to say, I advised you to start from pre-nursery again. ] |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by ocelot2006(m): 9:38am On Sep 12, 2015 |
DONMAYOR19: Moderators, I want to report this post........for being too awesome & on point. I recommend a crate of Origin or Star Radler for the poster as punishment. |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by fascowilly(m): 9:44am On Sep 12, 2015 |
[quote author=WombRaiders post=37926908]This is what I have been saying for a week now. Buhari is not adhering to the 2015 budget that was duly approved and passed by the last National Assembly. If Buhari feels the budget is not in tandem with his policy drive then he should seek for budget amendment and or supplementary budget. To make Matters worse, Buhari on the other hand continues to bennefit from revenue derivations set on the premise of the last budget. Buhari is not following up on the budget neither is he even rolling out any new project, so what exactly is Buhari doing with the revenue being generated? This man will destroy this country .[/you? Maybe medical attention I don't know.] |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by basilo101: 9:49am On Sep 12, 2015 |
Bevista:Illieterate, road projects are measured in terms of total length not the number, check the lengths of the roads in the different regiions and u will find that they are almost equal. GEJ, the fairest president ever. |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by nobeku: 9:49am On Sep 12, 2015 |
permsec:FOR YOU, IT'S EITHER YOU WAIL OR DIE!!!! |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by anigbajumo(m): 9:52am On Sep 12, 2015 |
[quote author=fascowilly post=37929205][/quote] Sentiments apart, Wen it comes to construction of road GEJ contribute alot... The one av seen wif my EYES Lagos_ibadan xpress way (OBJ was ther for 8yrs nofin was done) Ilesha _Akure xpress way,same thin Mokwa _Bida xpress way (the road is nofin but death trap over 120km) GEJ raise fund nd they av completed it, except Lagos_Ibadan xpress road which is about to complete. Am a yoruba nd APC supporter but I put sentiment apart wen elucidate da fact... GOD bless my state GOD bless Nigeria GOD bless PMB |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by anigbajumo(m): 9:52am On Sep 12, 2015 |
[quote author=fascowilly post=37929205][/quote] Sentiments apart, Wen it comes to construction of road GEJ contribute alot... The one av seen wif my EYES Lagos_ibadan xpress way (OBJ was ther for 8yrs nofin was done) Ilesha _Akure xpress way,same thin Mokwa _Bida xpress way (the road is nofin but death trap over 120km) GEJ raise fund nd they av completed it, except Lagos_Ibadan xpress road which is about to complete. Am a yoruba nd APC supporter but I put sentiment apart wen elucidate da fact... GOD bless my state GOD bless Nigeria GOD bless PMB |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by Ezemust: 9:57am On Sep 12, 2015 |
pasingshot.come defend ur guy |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by Princewell2012(m): 10:02am On Sep 12, 2015 |
I used to think that nairaland is a place where we can meet some intelligent people. Contracts has been awarded since years back, now the same contracts was abandoned since last year because of lack of fund, yet somebody here is putting the blames on Buhari who has just resumed office. Is that not madness? Who awarded those contracts and what happened to the money given to them THOSE ARE THE QUESTIONS BEGGING FOR ANSWER. Or is it what hatred has reduced us to? 3 Likes |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by wiseoneking: 10:09am On Sep 12, 2015 |
Bevista:Wetin this one dey yarn. They say fire burn reverend father and you come dey ask if e burn his beard. Deceived? Hope pmb find money asap to put all contractors back to the site. He can do it. This is the reason he was elected. Sambisa is now cleared of boko boys, is it not.The new Sherrif and magician is in town. |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by farem: 10:21am On Sep 12, 2015 |
dictbennie: And for how long was he the deputy governor? For how long was he in the saddle of the presidency? What did he bequeat to us: - rebased stupidity increased debt portfolio deflated and plundered foreign reserve humongous grafts, corruption (sorry COMMON STEALINGS), that is second to none he oversaw the most prosperous regine in the last 16 years yet all the ongoing projects are on credit we have for the first time, a president who borrowed HALF A BILLION DOLLARS to do what/ pay federal workers salary the one who is the Commander-in-Thief supervising the mindless plundering of our oil. he incapacitated the Navy,, empowerment the militants instead to the extent that each can buy jet. -at the end of his abysmal tenure, as it is in most places, his village couldn't boast of motorable road (remember God punished him for this to make him have a taste of what he has inflicted on hapless Nigeria when he lost an old woman close to him. I SHUDDER AT THE IMAGINATION OF STILL HAVING HIM IN SADDLE TODAY! 2 Likes 1 Share |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by ostopsmich(m): 10:43am On Sep 12, 2015 |
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Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by MICHEALADEX(m): 10:45am On Sep 12, 2015 |
Where is the 25000 kl constructed as claimed by. President jonathief. During his campaign....thta guy gej much go to jail. |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by ushafe(m): 10:59am On Sep 12, 2015 |
oluwafemi113:wait alittle is like we ve more mad pple in this country, they just bend not to see anything good in gej, the analysis of the abandoned projects is clear, buhari Will equally award to is pple, yes , but he should start on time. |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by ushafe(m): 11:02am On Sep 12, 2015 |
Bevista:what is region contributing to the nigeria economy |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by baralatie(m): 11:04am On Sep 12, 2015 |
warrior01:and the truth comes out |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by peter4d2(m): 11:04am On Sep 12, 2015 |
farem: Let me ask u dis his obj an achiever cos d present development u would find in Ogun state whr done 4rm Bankole as speaker completing overhead bridge @ otta during yaradua's tenure D over bridges in d heart of abk was virtually done by Ibikunle Amosun n u forget 2 state d cosmic effect of hw clans n village folks commonise their own take dis word wit u "a prince is not respected in his home" Even d most reverred Awolowo did not do so much 4 Ikenne pple whr some persons don't even want anything associated wit awo take 4 instance d clean portable water ditributed by coca cola did not get 2 their houses. Abt d apapa road it got terminated @ cele so if u want 2 tlk criticise it 4rm coconut till cele n wat did obj do abt d said road instead chasing after tinubu all his days, Damn dat man his smart Tinubu I mean. |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by baralatie(m): 11:09am On Sep 12, 2015 |
The contractors could not state the exact number of ongoing federal road projects abandoned across the country, but findings showed that 184 projects were classified as ongoing by the Federal Government as at September 2014. The North-Central Zone had 29 projects with a total length of 1,201.81km and a cost of N294bn; North-East had 26 projects, 1,219.65km long and cost N314bn; North-West had 20 projects, 1,040.22km long and cost N188bn; while the South-East had 45 projects stretching 1,251.4km with a worth of N357bn. The South-South had 33 ongoing projects, 739.57km long costing N245bn; while the number of ongoing projects in the South-West was put at 31, stretching 1,072.63km at a total cost of N365bn. More @ http://www.punchng.com/news/n600bn-debt-contractors- |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by elampiro(m): 11:17am On Sep 12, 2015 |
WombRaiders: 2014 Capital Expenditure budget was 1.4 trillion. 2015 Capex is about 400 billion. In December 2014 Ngozi Okonjo Iweala announced that Capex had been cut from 1.4 trillion in 2014 budget to 627 billion . By February 2015 NOI again reduced the Capex budget to 387billion naira. And we were told only 33 of 210 ongoing projects were provisioned for in 2015 budget. ......... (1) More on the issue : Senate: Nigeria to Run 2015 Budget in Deficit 15 Jan 2015 ... Leading debate on the bill, Senate Leader, Victor Ndoma-Egba, said the budget of N4.357 trillion comprised N2.6 trillion as recurrent expenditure, N627 billion capital expenditure, N943 billion for debt service and N411 billion for statutory transfers. He also said the document was predicated on $65 oil benchmark, projected oil production of 2.2782 million barrels per day and an exchange rate of N165 to $1. Ndoma-Egba said the budget would focus on job creation through increasing economic diversification and leakages, roads, power, gas and aviation. ... While recalling that the capital expenditure contained in the 2014 budget was N1.4 trillion when compared with N627 billion in the current estimates, Makarfi described the estimates as "austerity budget" [/b]and insisted that the current economic downturn is a wake-up call on Nigeria to stop relying on oil "which is highly volatile and look for other areas of getting money." ....The benchmark for 2014 budget was $77.50 per barrel but oil sold for over $118 per barrel. Where is the excess crude share of the federal government? We are guilty because I raised an alarm that money from the excess crude account should not be expended without the consent of the National Assembly. http://www.thisdaylive.com/articles/senate-nigeria-to-run-2015-budget-in-deficit/199264/ .............. (2) Related : Again, FG Cuts 2015 Capital Spending as Oil Price Slump Bites [b] 05 Feb 2015 .. The document, seen by Reuters, puts capital expenditure at N387 billion or 8.9 per cent of total spending of N4.357 trillion. This is a significant drop from the 2014 spending plans, when capital expenditure (capex) accounted for 23.7 per cent of projected government outlays. One industry source said Ministry of Works disbursements for a major highway were less than 3 per cent of the project’s value. “At this rate it will take 33 years to complete,” the source said. ... The same source put layoffs nationwide at 20,000, while another said at least 5,000 had been let go in the Abuja area alone, a worry for President Jonathan ahead of the election, when he faces an opponent accusing him of squandering revenues from high oil prices over the previous three years. http://www.thisdaylive.com/articles/again-fg-cuts-2015-capital-spending-as-oil-price-slump-bites/201045/ .............. (3) More : FG slashes Works Ministry’s budget from N100bn to N11bn MARCH 10, 2015 : The Minister of Works, Mike Onolememen, said the ministry’s N100bn proposed budget for 2015 was slashed by the Ministry of Finance to N11bn, representing an 89 per cent reduction.http://www.punchng.com/news/fg-slashes-works-ministrys-budget-from-n100bn-to-n11bn/ .......... (4) 2015 Budget: No provision for road maintenance – FG Onolememen lamented that in view of the lean allocation for the Ministry in the 2015 Budget, that out of the Ministry’s portfolio of about 210 ongoing road and bridge projects, only 33 have been provided for and the provisions are insufficient to encourage the contractors to sustain appreciable progress of works on site Senators were shocked on Monday when the Minister of Works, Mike Onolememen, revealed that there is no provision for bad roads in the 2015 Budget proposal. The Minister made this known while defending the Federal Road Maintenance Agency budget before the Senate Committee on Works. Onolememen said FERMA will get zero allocation for its capital votes in the 2015 budget proposal. According to the Minister: “Aside the ministry’s capital budget proposal slashed from the projected N100 billion to just N11 billion by the Ministry of Finance in view of economic realities on ground, zero allocations were made for capital projects of FERMA and office of Surveyor-General of the Federation.” Onolememen lamented that in view of the lean allocation for the Ministry in the 2015 Budget, that out of the Ministry’s portfolio of about 210 ongoing road and bridge projects, only 33 have been provided for and the provisions are insufficient to encourage the contractors to sustain appreciable progress of works on site. “No provisions have been made for other departments of the Ministry such as Road and Bridge Design Departments, Mechanical and Electrical Department as well as Service Department,” he added.http://theeagleonline.com.ng/2015-budget-no-provision-for-road-maintenance-fg/ DokyOloye's DONMAYOR19 ZKOSOSO warrior01 godoluwa WombRaiders Yinkalite bushdoc9919 chesterlee DrLee bashydemy ocelot2006 anigbajumo aufbauh adekzy Just a reminder how we got here. |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by poiZon: 11:26am On Sep 12, 2015 |
oluwafemi113: and the immediate immediate immediate past goverment was an a55. |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by obailala(m): 11:48am On Sep 12, 2015 |
WombRaiders:[b]I felt very depressed reading through all the misleading front page comments including yours. Why are people so ignorant and quick to pass blame politically?.... The budget you talk about, did you see the so called budget prepared (by GEJ) for 2015? Do you know how much was budgetted for the ministry of works for 2015? Were any of those projects mentioned in the report funded in the 2015 budget? I knew it would certainly get to this, I knew everyone would quickly forget the 2015 budget structure so easily and then pass the blame accross. Bro, in the run up to 2015, Nigeria was run to the ground financially and the 2015 budget was a joke; over 90% recurrent and less than 10% for capital. 1. There was no plan in place to fund any of those mentioned projects in the 2015 budget. 2. Those projects were not paid for by the last administration, 3. There is even no money left in the reserves to pay for those projects 4. It is only an ignorant mind that would accuse the present administration of not paying the contractors because even GEJ did not have any plans to pay for those projects this year.[/b] 2 Likes |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by obailala(m): 11:53am On Sep 12, 2015 |
elampiro:[size=14pt]Someone should please copy this comment and place it on the first page so as to clear the air on this misleading thread.[/size] 1 Like |
Re: N600bn Debt: Contractors Abandon Lagos-Ibadan Expressway, 183 Others by Nobody: 11:57am On Sep 12, 2015 |
The North-Central Zone - 29 projects- 1,201.81km and a cost of N294bn; North east had 26 projects, 1,219.65km long and cost N314bn; North-West had 20 projects, 1,040.22km long and cost N188bn; while the South-East had 45 projects stretching 1,251.4km with a worth of N357bn. The South-South had 33 ongoing projects, 739.57km long costing N245bn; while the number of ongoing projects in the South-West was put at 31, stretching 1,072.63km at a total cost of N365bn. Bevista: Don't be a bigot read well, how many km are the roads in each region? |
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