kennytidistar:

look at the way you just massacre your self, ok, i dont know for how long you have been in lagos. But as for me in terms of development and good governance major buba marwa did exceedingly well not all the propaganda you have from fashola today, i was born in lagos, so you cant tell me anything about lagos i dont know i school in lagos and serve there and i am also working in lagos, that is why i'm supprise when some of you come here and rant nonsense, which business are you talking about? Is it the business that has been in lagos even before fashola was born? If there has not been fed govt home in lagos in the past where will he get s igr we need to be sincere with our selves this time around somebody patch road and you are praising him, is it not his responsibility to do that? He is been paid a salary from my tax, i should even charge to do more without loan.

teskyg: Fashola is clueless if he can't use the IGR with the federal Govt subvention to build infrastructure.You can imajine the IGR generated from Ikeja,Apapa and Lagos Island compare with the level of Infrastructures in those areas.Every body who lives in Lagos see how Lagos state politicians play with those revenue generated.If huge percent of IGR generated in Lagos does not find its way to the pocket of Tinubu and his cronies,Lagos does not need to borrow.Fashola 100 Laptop Dogs who have sold their lives for a pot of porige litter nairaland with senceless defence comment but deep in us lies the truth.

Posted By On February 1, 2013 @ 3:04 pm In Metro,News | 5 Comments

By Kazeem Ugbodaga
[b]
Governor Babatunde Fashola of Nigeria’s Lagos State says those criticizing his administration over its debt profile are ignorant people and voodoo economists.

Fashola spoke while on a statewide tour of ongoing projects in Badagry area of Lagos, Southwest Nigeria. The governor said the critics did not know the intention of government which made it to borrow to finance capital projects.

“They are un-informed voodoo economists. We are seeing a rehash of an old plan. They are voodoo economists. This was the same plan during the tenure of my predecessor, saying Lagos has mortgaged its future for 50 years when the first Bond was taken. The initial N50 billion bond my administration took has paid off. When we took the bond, many said we had mortgaged the state for 50 years, but we have paid that.

“The other that we took is due for repayment, the amount in the consolidated debt service account is about N62 billion as at December last year. The liability that we have is N50 billion and is not due until next year, by which time the amount in the debt service account will reduce,” he explained.

Fashola stated that the state had shown that it had the capacity to pay its debt, adding that this is why I have chosen to ignore all those voodoo economists, that is why they are in the opposition and they will never get government because clearly, it’s dangerous from the way they are talking, they don’t know what the economics of governance is.”[/b]

Explaining the rationale behind the state’s budget, Fashola stated that the demands which the state government got before its budget from various communities, roads, schools amounted to about N750 billion but because the administration knew that it could not generate N750 billion, it had to scale the budget down to around N497 billion which was over and above what it could reasonably foresee.

“We are aspirational and ready to take on bigger challenges than our realities show because that for me must be part of what governance entails. It is about being audacious and forward thinking.”

“The only reason why we are working hard is how to bridge that deficit in a sustainable way, raise the money, collect the taxes from those who are hiding, who don’t want to contribute and also prepare for the generation that is coming behind.”

“As we are here, new children have arrived, some people just got married this morning, in nine months’ time you will get the results. Some are also leaving school; somebody is in the lands registry for a land transaction.

“I have to plan for all that. So if it’s just this kobo, kobo economics that they are thinking, it won’t happen. China just borrowed $640 billion to build the world’s fastest rail and create jobs in its economy. So I have chosen to ignore them,” he added.
[b]
On the on-going construction of Slave Market and other tourism development projects of the government in Badagry, Fashola said it was all about tourism as it represented one of the historical sites that Nigerians pay money to visit in other parts of the world.

“What you would see on the beach front ultimately is opportunity for the people of Badagry to show all of their skills. All of our people who sell fabrics, batik, who make dresses and beads which are all products from the skills centres,” he said.

The governor emphasized that it would be a big market ultimately for the sale of souvenirs for the people of Badagry and for the people of the state where tourists could benefit , eat the local delicasies such that people in the culinary business could set up businesses as part of efforts at waking up the economy.

Speaking on what transpired during the inspection, Governor Fashola said work on the Magistrate and High Court complex is not moving as quickly as he would like but that the contractor has promised to finish it by April this year.[/b]

Eko Ile:


We can do this like adults. Any issue about loans, it's usage and terms are public records on the state's website for us all to see. Even with all that, it still doesn't mean people like you wont find issues where it doesn't exist.

The fact is, the state's credit ratings is great, the state is not bankrupt or anywhere close to such so all your noise is pretty much pointless, but I'm not here to debate your issues about loans, I'm more interested in your Marwa claim that I highlighted.

Your Marwa claim against Fashola was bogus and irresponsible simply because there is a huge gape between both men in terms of development and the state of Lagos.


Now, we can do this like adults and I'm rightfully assuming that you are an adult.


So let's do each other a favor by supporting our claims with facts and also by listing side by side each man's accomplishments.


Would you like to go first?

kennytidistar:

My friend they are not the same that is why most of you misused power because you assume governing a state is the same as managing a business, what is your line of discipline? No wonder we have bunch of fools ruling us. That is why there are training for public office holder is only a psychologically means of remodelling or repositioning there mind, if you are thinking you can manage a public office like your fathers business change you mind today, is not as simple as you think.

HNosegbe:

Ok. You've made some good points, especially the part in bold. It's safe to say the jury is still out on the LASG's ability to manage and repay the amounts borrowed (There's a lot riding on that). Let's see if they will allow their debts to spiral out of control, like the FG has done.

Mind you, I'm not against borrowing. Debt is a two-edged sword, it can be good or bad. I'm just saying it's not just about ability to repay, there are other factors to consider.

mapet: 1. I have grossly over-estimated you......I'll only advise you to go seek some more knowledge, as you're giving yourself away, trying to reason beyond your capacity......nutshell, you're hardly making sense
2. Take an appraisal of a state and tell me the anticidents of their top commissioners and special assistants not to talk of the governor.............
3. In fact this is a waste of my time.......

naturalwaves:

See massacre!!!! "Eko Ile" don finish person o. Go first ke? The guy no go come back again. Na so dem dey run comot wen person don deal with them. This is definately "the last straw".























*Not only did you pass through School, School passed through you as well. Bravo!

ikeyman00: @@@@

Fas is talking nonesense


complete rubbish

at this time people are cutting down excessive borrowing he has the gut to talk about the ability to pay back without showing the outlines as regard to the fund borrowed

It easy to borrow i guess but turn out a serious wahala when asked the process of paying back

i think there is a lot to explain in plain terms than vodoo way