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Nairaland Forum / Nairaland / General / Politics / Akinjide Attacks Buhari For Truncating Lagos Metroline Project (27797 Views)
FFK Reacts To Kano Bomb Blast, Tacitly Attacks Buhari / Why I Cancelled Lagos Metroline Project –buhari / Why I Cancelled Jakande's Lagos Metroline, By Buhari (2) (3) (4)
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Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by Ezemust: 2:27pm On Dec 30, 2014 |
Kingsimmer:after u talk all these things then u pull ur face n look ursf in d mirror |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by PassingShot(m): 2:27pm On Dec 30, 2014 |
nnachukz: Re-read my post and digest it before you rush to quote me. |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by Rexyl(m): 2:27pm On Dec 30, 2014 |
donbrowser: exactly what I can't do, the memories of our brothers & sisters brutally killed for no just course, but for someone who until now doesn't condemn the wicked deeds, still linger in our minds. No matter how many times they shout "change", the underneath is laid in rot. 1 Like |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by Nobody: 2:28pm On Dec 30, 2014 |
What has the Jonathan led pdp government done to correct the so-called mistake of what buhari did. Instead of finding how to pacify federal workers 4 not paying deir salaries,dey go about on a campaign of shame trying to discredit GMB. APC change!!! SAI BUHARI |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by Ezemust: 2:29pm On Dec 30, 2014 |
Krisddon:no body de fight buhari.na his actions in the past de hunt him 5 Likes |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by logica(m): 2:30pm On Dec 30, 2014 |
Eziachi:No you don't need to be an expert in Economics. Being OK in Math is good enough. Oya, how does "$450 million loan at six per cent fixed interest rate for 25 years" translate into 100% interest? How much interest is actually paid over the 25 year period? Break it down for us. 2 Likes |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by Nobody: 2:31pm On Dec 30, 2014 |
donbrowser:What makes you think,he wud. |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by bondingman: 2:32pm On Dec 30, 2014 |
[/quote] “At the time the project was cancelled the government had paid part of the loan and therefore had no worry about financing the project. But Buhari stopped the project and went ahead to pay another $500million, which was almost enough to complete the project, as fine to the foreign company handling the project for terminating the contract.”[/quote] Just imagine d level of retrogression! That's y I say someone like buhari is trying to come in to bring Nigeria back to its knees by reversing d benefits of this government such as the automobile policy, agricultural advancement, job creation by employing our youths in d newly established federal universities, railway revitalization, electoral transparency etc. Buhari is not smart, he's someone that will throw away d baby with the bad water, let him tell us what economic reforms he has for this country n I bet u even if its rehearsed to him he can't present it verbally. Voting him is taking d country many years back n that's not:-) going to happen by d grace of God. 3 Likes |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by walecom4u: 2:32pm On Dec 30, 2014 |
noblezone: Story for the gods....Sai Buhari 2015 |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by Nobody: 2:32pm On Dec 30, 2014 |
Sincere9gerian: SincereNigerian....have you forgotten that the reason why we could not invest in a rail project at the time was that we did not have the money? First...the oil price had dropped in 1982. Second, the economy was in a shambles thanks to Shagari and company. Third....starting the project would have involved taking a hefty loan....which we won't have been able to pay back...and would have added to our already heavy debt profile. (In 1985...IBB rejected the IMF loan to popular acclaim....unfortunately it led us to SAP). And with our economy the way it was....with the fall in oil prices...I doubt any state would have been able to start and complete a metro project. (GEJ was able to do major rail works thanks to the high oil prices. If there were no high oil prices....no one would be talking of rail revolution). Abeg....Buhari has a lot to be criticized for.......but on this matter....he has shown prudence. We did not have the money at the time.....and taking a loan would have been disastrous....we would still have been paying it back....and people like you would be condemning Buhari for plunging us deeper into debt. 2 Likes 1 Share |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by joe17: 2:33pm On Dec 30, 2014 |
emmykk:sorry bro, read ma comments again |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by Nobody: 2:34pm On Dec 30, 2014 |
BossAyuk:Nigeria has grown in population. We have mores states, more LGAs, more schools, more civil servants, more concurrent expenditure. Besides, Nigeria has been at war all these years Only a visionary and dedicate leader, would be fighting a war and at the same time develop infrastructure. Jonathan is a rear gem. 3 Likes |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by donbrowser(m): 2:35pm On Dec 30, 2014 |
Renegade147:Since U dont understand wat assumption is, let's die the matter. |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by Dee60: 2:35pm On Dec 30, 2014 |
Who truncated the first credible poll in Nigeria with the notorious twelve-two-third formula? |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by logica(m): 2:37pm On Dec 30, 2014 |
bushdoc9919:So paying back "$450 million loan at six per cent fixed interest rate for 25 years" was too much for us to handle? Let us examine the figures: I see this as paying back an extra $27 million (over the borrowed $450 million) over a 25 year period. You mean we cannot afford to pay $1.08 + 18 million every year for 25 years? What are you guys on anyway? 9 Likes |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by BossAyuk: 2:37pm On Dec 30, 2014 |
noblezone:You might wanna explain that. I've made up my mind not to be a mediocre and bottom-lick this government...Vote for your "so-called" rare gem while I vote for Change and Progress. |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by Ezemust: 2:39pm On Dec 30, 2014 |
berem: |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by Eziachi: 2:39pm On Dec 30, 2014 |
Deltagiant:She forgot that her father and NPN play politics with anything they do not control if the state was controlled by the opposition. They refused Sam Mbakwe the license to build petrol chemical industry at Ukwa Ngwa and refused to build it themselves and Shagari calling Mbakwe Oliver Twist in front of our people for his persistence in demanding. They blocked the Imo Airport until Allison Madueke came and realized it through community effort. Who can forget how they sat on the accreditation of the then Anambra state University of science and technology built by Jim Nwobodo until their partners, University of Nebraska intervened through their government. Suddenly his father and NPN is a friend of Jakande's UPN government to now become their spokesman and know what was in place. I wonder what Babatope got to say about Akinjide speaking nicely for Jakande government. I feel sorry for people who cannot play neutral and see this politicians in their true colours of lying and deceit. 2 Likes 2 Shares |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by logica(m): 2:43pm On Dec 30, 2014 |
Eziachi:Thanks for the extra info; but this thread is about the Lagos Metro Line. You can go open a thread about how Akinjide stopped all projects in the South East from seeing the light of day. Thank you. 4 Likes |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by drnoble1: 2:45pm On Dec 30, 2014 |
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Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by Nobody: 2:47pm On Dec 30, 2014 |
logica: Yes....we already had a very hefty debt profile.....and the last thing we needed was additional load. We also had low oil prices..... Fact is....the 80's were a lean time for most Nigerians (which is one reason why I am annoyed with Shagari's govt for wasting money....)....and the last thing we needed was new loans. In 1985....IBB turned down a IMF loan...which was applauded even by critics of his regime. Thing is.....we were able to conceive the metro project when the oil boom was still with us. Once the oil boom went bust....we no longer had the money. We were broke (which is why the 500 suitcases tale is painful). Add the fact that $450 was the intial cost....it would have risen over time....and we would have ended up with a heavier debt. And you guys would be blaming Buhari for making us debt full.(And we would ahve had to import everything for the project...because Ajaokuta was still not complete!) Instead of grumbling about what Buhari did years ago...be thankful he did not increase our debt profile....and consider asking both Buhari and GEJ the real question...why they are not making any effort to get us off oil...and into industries. Because thanks to Shagari and his millitary predecessors.....Nigeria got oil addicted....and as a result our ability to do projects is limited by the oil price. That is why PDP and APC should stop talking about frivilous things...and talk about getting us off oil! Because if we had industrialised....we could have done this project for less the cost offered. 1 Like 1 Share |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by nep2ra(m): 2:47pm On Dec 30, 2014 |
Some intelligent reply to this rant of a smelly Minister: "Buhari terminated the metro line and several other projects because we didn't have money to pay for them. IMF was asking Nigeria to borrow money and that we should also devalue our Naira; which was N1 = $2 then. Buhari refused to borrow more money, instead, he paid all our debts. Infact IMF put some trade embargo on Nigeria. Buhari resulted into trade by barter to keep the country running. Let us just assume that it was a mistake that the metro line was terminated and that it would have made economical sense to borrow the money to construct the metro line. Buhari was in government for less than 2 years. Are we saying that the successful governments in the last 30 years have not considered it reasonable to build the metro line? Mr. Jonathan has been in government for 6 years and yet our minister wants to blame someone that served for less than 2years in 30 years ago. This issue was raised in 2003, 2007 and 2011 elections, till today, PDP governments have refused to do something about it. They prefer to raise the issue every four, four years of election to give excuses for non performing or to deceive Nigerians. Dishonorable Mininster, shame on you! As Nigerians, we have learnt our lessons, 16 years of People Deceiving People is enough. We are voting for change, we are voting for Buhari! No deception! Tell us what you have been able to achieve in the last 6 years." ~ Joe_Political_Spectacle 1 Like 1 Share |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by Ezemust: 2:49pm On Dec 30, 2014 |
Housing:see me see wahala oo.so if the project was at Kano Gmb would end it for that reason? |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by Ezemust: 2:51pm On Dec 30, 2014 |
alaoeri:a yr ago he was nt any presidential candidat 2 Likes |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by Eziachi: 2:51pm On Dec 30, 2014 |
logica:6% of $450m is $27m $27m multiply by 25 is $675m (interest) Capital + Interest $450m + $675m Total Repayment: $1.125b. I maybe wrong. You are maths expert. By the way, these loans are never fixed as the lenders are not stupid. And don't forget payment defaulting charges, facilitation fees/charges, foreign exchange rates. 1 Like |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by rozayx5(m): 2:51pm On Dec 30, 2014 |
theshadyexpress: from the first post on this thread till my post, APC supporters are yet to say something tangible, even the excuse they are trying to give is implicating them. all their supporters on nairaland are always shouting sai Buhari when presented with facts i ask again what did Buhari contribute to Nigeria's development that we can see today, a one time governor , then head of State, the best he can do is to cling to projects under other heads of states |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by Kingsimmer(m): 2:52pm On Dec 30, 2014 |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by logica(m): 2:53pm On Dec 30, 2014 |
Buhari, while speaking in Lagos on Wednesday at the presentation of his party manifesto, said when he got into power, the relatively stable economy, which was handed over to the government of Alhaji Shehu Shagari, had been badly plundered and corruption was rife in every sector. He added that the rail line project was meant to cost N100m, which was a large sum of money then, and the Federal Government was asked to guarantee the loan meant for the project.^^^^^ That's Buhari's defense I saw on another thread. So according to him, the figure was 100 million? 2 Likes |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by calaway: 2:53pm On Dec 30, 2014 |
iamchiddy: Are you saying she is telling lies? FYI buhari is an animal. an animal in a mad mans skin listen to the great FELA the you about buhari time 4.16 https://www.youtube.com/watch?v=XEMLFwBxrzI 1 Like
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Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by logica(m): 2:55pm On Dec 30, 2014 |
Eziachi:Hahahaha! Jezuz. Dude, that $27m + $450m were supposed to be paid over a 25 year period. That is what fixed rate means. The actual interest is $27 million. Meaning the yearly payment would be $19.08 million. Now I see why Buhari cancelled the project; he must have hired an accountant like you. 8 Likes |
Re: Akinjide Attacks Buhari For Truncating Lagos Metroline Project by Nobody: 2:55pm On Dec 30, 2014 |
logica:Besides, Akijinde is not a "Messiah" that must rule Nigeria in 2015 or "baboons and dogs" will be soaked in blood. |
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