ratiken: Really?
Fashola is the biggest fraud under our democracy cos he always tries to put up saintly fronts in the face of monumental. Criminality.

Let me put this in perspective.
With a monthly federal allocation of 19B and monthly IGR of 29B and a loan 160 billion, lagos states has managed 4.5 TRILLION naira in the past 7.5 years. What has this humongous funds being used apart from paying state salaries, planting flowers, painting schools and repairing select roads bearing in mind that FERMA. Is responsible for numerous federal roads in the state.
APC is a curse to Nigeria and they must be booted out of lagos come 2015

I pay an annual tax of over 4M, I spend about 104K annually on tolls, I provide and treat my water at a cost, we contribute to repair our internal street roads. And yet this fraud of a man while avoiding the FOI bill goes around borrowing funds my kids will be forced to pay.

God will punish Fashola and Tinubu

while PDP is a blessing? I need nt say much cos are ppl are so adamant and wunt wnt to be sincere with demslvs. Even as an individual(established ones) u knw hw far u go 2 survive ur family. U mait av to borrow and pay tru ur nose later if u wnt ur family @ least 2 live fine. What I knw is dt,if an org.,or state is nt worthy of debt, such state ll nt b given. D govt.above approved it. Jt my own line of tot without allegiance to any political party

Criminals, extremist apc and looting.

PointB: What sort of explanation is this?

If the FG has refused to approve the loan, this same Fashola and his co-travellers will moan and grumble and accuse government of all sort of scheming, and what's not. Yet, he has the gut to blame FG for approving the loan? Who requested for it in the first place? Arrant nonsense!

Now to more important matter of the defence? Pray, anyone, what did Fashola do with an Internal Generated Revenue (IGR) of close to 29 Billion monthly, plus generous Federal Allocation of over 11 billion (a princely sum of 40B monthly), let alone addition debt of 160B.

How come in most part of the mainland, Lagosians could barely feel the impact of these humongous sum? Most flowers and grass in Lagos were planted prior to 2007. Did Fashola borrow 160B to water these flowers? Most projects touted to have done by Fashola administration post 2007 are projects that could have easily been executed with a fraction of the monthly IGR.


Aside the mono-rail, and Lagos-Badagry road which have all stagnated, what exactly is Lagos State doing with over 40B monthly income? Shouldn't Lagos state be loaning other states funds? Why borrow addition 160 billion naira, when you barely did anything with 40 billion?


#FasholaBringBackOur160Billion

Why talk like an ignorant market woman if you don't know keep quiet rather than make a fool of yourself. This loan was negotiated and agreed in 2010 during Fashola's first term. There has been no secrecy and that information has always been public for real Lagosians. Is it that easy to borrow 160 billion from the World Bank? Loans that are given out at close to 0% interest. Find out before you start making noise. The loan was agreed before they ever broke ground on the rail project which has been under construction for years. It was Iweala who was MD when the World Bank approved the loan. The loan was agreed in tranches. The World Bank was ready to release the next tranche so that means they were happy.The Fg was playing politics that is all

The same FG borrowed from China to build light rail in Abuja. Which is more economically viable??

eko na obanje

Show me one politician that is not a thief

And I will show you where the devil have his bath.

iwonbaoko:

Why talk like an ignorant market woman if you don't know keep quiet rather than make a fool of yourself. This loan was negotiated and agreed in 2010. Is it that easy to borrow 160 billion from the World Bank? Loans that are given out at close to 0% interest. Find out before you start making noise. The loan was agreed before they ever broke ground on the rail project which has been under construction for years. It was Iweala who was MD when the World Bank approved the loan. The loan was agreed in tranches. The World Bank was ready to release the next tranche so that means they were happy.The Fg was playing politics that is all

Fine Okonjo approved it

What did he do with itttttttt

Simple question

He should answer

ratiken: Really?
Fashola is the biggest fraud under our democracy cos he always tries to put up saintly fronts in the face of monumental. Criminality.

Let me put this in perspective.
With a monthly federal allocation of 19B and monthly IGR of 29B and a loan 160 billion, lagos states has managed 4.5 TRILLION naira in the past 7.5 years. What has this humongous funds being used apart from paying state salaries, planting flowers, painting schools and repairing select roads bearing in mind that FERMA. Is responsible for numerous federal roads in the state.
APC is a curse to Nigeria and they must be booted out of lagos come 2015

I pay an annual tax of over 4M, I spend about 104K annually on tolls, I provide and treat my water at a cost, we contribute to repair our internal street roads. And yet this fraud of a man while avoiding the FOI bill goes around borrowing funds my kids will be forced to pay.

God will punish Fashola and Tinubu

Pls tell me something. Is FERMA reconstructing or expanding ikorodu road?

aljharem: Fashola and the APC lead Tinubu government are full of lies and propaganda. Lets itemize the things he claimed to have do with a loan of 160 billion Naira. Also note that Lagos generate 29 billion Naira monthly apart from 12 billion Naira monthly allocation from the Federal Government

Is Shoprite a Lagos state project ? No

Is Lekki epe a lagos state project ? No and if yes then why are we being asked to pay at them toll gate, is this not double taxation

Are those housing estates Lagos state project for the elites or masses ? if for the elites then half of them is owned by Tinubu. If not then why sell a Lagos state "low scheme" flat for 30 million naira ? Does this even make any sense ?

Are those malls shops for the elites or market men and women ? The tejuosho mall and co are rented and sold at high prices. Most of them have already been bought by his commissioner and SA wives.

Is FERMA also Lagos state ? Ikorodu road has always been repaired and maintained by Ferma, not to talk of other road.

Point out what Fashola has done apart from over inflated projects, planting flowers and elites housing estates

Hoping for PDP to take over this Tinubu Empire

He goat

BlackTechnology:

Fine Okonjo approved it

What did he do with itttttttt

Simple question

He should answer

This is an adult forum? If you must quote me then take time to READ he claims the money is being spent on the Light rail project. I am NOT a Fashola or APC supporter. That does not mean we should not use our heads So ask questions like someone who has a brain and not meat and potatoes in their head.
Who gave the loan?
On what conditions
For what purpose?
etc if you use your head you will quickly figure out what he did with it.
The real debate if he is to be accused of mismanagement is whether the project is overpriced compared to similar projects. I believe there would always be that kind of thing but since I am not a Fashola supporter I cannot speak to that.
The fact is the World Bank gave that money for a SPECIFIC PROJECT not for the Lagos State general budget

Ikorodu road from Mile 12 to Ikorodu is a Lagos state project and nothing to do with FERMA

iwonbaoko:

Why talk like an ignorant market woman if you don't know keep quiet rather than make a fool of yourself. This loan was negotiated and agreed in 2010 during Fashola's first term. There has been no secrecy and that information has always been public for real Lagosians. Is it that easy to borrow 160 billion from the World Bank? Loans that are given out at close to 0% interest. Find out before you start making noise. The loan was agreed before they ever broke ground on the rail project which has been under construction for years. It was Iweala who was MD when the World Bank approved the loan. The loan was agreed in tranches. The World Bank was ready to release the next tranche so that means they were happy.The Fg was playing politics that is all

The same FG borrowed from China to build light rail in Abuja. Which is more economically viable??

Guy just shut up if you don't know what's at stake!

Who is talking about where the loan was borrow from or not? What difference does it make if it was from IMF or World Bank? The bigger questions I asked, if I must repeat for the sake of those like you who lacking in comprehension, are:

1. What is Fashola currently doing with over 40B monthly (29 from IGR + 11 from FG)
2. What is on ground to justify the 160B he has collected as loan?

Those are the key issues, not which external bank he got the loan from or who approved it!


#FasholaBringBackOur160Billion

forgiveness:

Pls tell me something. Is FERMA reconstructing or expanding ikorodu road?

Let's say the answer is NO! Was the 160B spent on Ikorodu Road?



#FasholaBringBackOur160Billion

bushdoc9919:

And Fashola's reducing the fees is another reason why that debt will shoot up....because LASU needs a lot more than the money it is getting.

And the fees shot up because the Federal Govt broke its promise to ASUU of N3 trillion over 4 years made in 2009. Now it is 1 trillion over 5 years....at 200billion yearly.....and it is to be split among 70 universities. Is that enough?

How so?

PointB:


Guy just shut up if you don't know what's at stake!

Who is talking about where the loan was borrow from or not? What difference does it make if it was from IMF or World Bank? The bigger questions I asked, if I must repeat for the sake of those like you who lacking in comprehension, are:

1. What is Fashola currently doing with over 40B monthly (29 from IGR + 11 from FG)
2. What is on ground to justify the 160B he has collected as loan?

Those are the key issues, not which external bank he got the loan from or who approved it!


#FasholaBringBackOur160Billion

What is at stake in Eko Ile or Mgbidi?

Are you mad

Who told you he has COLLECTED 160 billion?
You are just an ignorant dunce with no idea what is at stake as you claim. The World bank often pays contractors directly just as was the case in the
Ebonyi Bamenda road on the Camerounian side of the road.
The issue here is the loan. If you want to talk about Fasholas performance that is another issue. But why are you so interested in our Lagos sef. Go and fix your teaching hospital in Abia

aljharem: Fashola and the APC lead Tinubu government are full of lies and propaganda. Lets itemize the things he claimed to have do with a loan of 160 billion Naira. Also note that Lagos generate 29 billion Naira monthly apart from 12 billion Naira monthly allocation from the Federal Government

Is Shoprite a Lagos state project ? No

Is Lekki epe a lagos state project ? No and if yes then why are we being asked to pay at them toll gate, is this not double taxation ?

Are those housing estates Lagos state project for the elites or masses ? if for the elites then half of them is owned by Tinubu. If not then why sell a Lagos state "low scheme" flat for 30 million naira ? Does this even make any sense ?

Are those malls shops for the elites or market men and women ? The tejuosho mall and co are rented and sold at high prices. Most of them have already been bought by his commissioner and SA wives.

Is FERMA also Lagos state ? Ikorodu road has always been repaired and maintained by Ferma, not to talk of other road.

Point out what Fashola has done apart from over inflated projects, planting flowers and elites housing estates

Hoping for PDP to take over this Tinubu Empire

WOW!! This is systemic robbery!!

Hmmmm, the comments on this thread tells a lot about the level of our intelligence. The level of ignorance in our land is too much and alarming. Lets keep on with our ignorance and lets see where it will let us to. The budget of California on fire service is almost as large as Nigeria yearly budget. Yes, there is lot of corruption in the land but that should never stop us from being objective. Which state in Nigeria don't seek for loan (including the federal govt), and it is a foolish business man that will invest in a capital project with liquid cash against available loan. I now understand why lots of Nigerians are very poor. Most capital projects are financed by loan any where in the world. During the meltdown economic crisis, Almighty America borrowed from China to facilitate there capital projects to revive their economy. I pity for my country with the high bunch of illiterates we breed. Basic Economics. Tufiakpa.

iwonbaoko:
This is an adult forum? If you must quote me then take time to READ he claims the money is being spent on the Light rail project. I am NOT a Fashola or APC supporter. That does not mean we should not use our heads So ask questions like someone who has a brain and not meat and potatoes in their head.
Who gave the loan?
On what conditions
For what purpose?
etc if you use your head you will quickly figure out what he did with it.
The real debate if he is to be accused of mismanagement is whether the project is overpriced compared to similar projects. I believe there would always be that kind of thing but since I am not a Fashola supporter I cannot speak to that.
The fact is the World Bank gave that money for a SPECIFIC PROJECT not for the Lagos State general budget

So, can you itemize what the funds were used for?

N160Billion for a state that generates over N20Billion monthly is totally wrong, inexpedient and absolutely unjustifiable.

Speaking on the rationale behind the debt, Fashola said: “I think it was the debt management office of the Federal Government that published the report that we have a debt of about N160billion. I don’t know the intent of the publication but if it was to inform the public, I think we have always kept the public informed anytime we borrow money. If there are other intentions behind that, only those who make the publication would know what the intentions are.

Sounds to me like a man, trying to explain away the reason his hand was found in the cookie jar.

Anyway, Mr Fashola, indeed anytime you want to borrow money, we know how you arm-twist, and rigmarole FG to sign-off, so we appreciate the transparency of the FG in this timely reminders of who borrowed what. Can you Mr. Fashola, kindly enlighten us on how you spent the money you borrowed. We want know for sake of transparency in governance.

DVanguard: Hmmmm, the comments on this thread tells a lot about the level of our intelligence. The level of ignorance in our land is too much and alarming. Lets keep on with our ignorance and lets see where it will let us to. The budget of California on fire service is almost as large as Nigeria yearly budget. Yes, there is lot of corruption in the land but that should never stop us from being objective. Which state in Nigeria don't seek for loan (including the federal govt), and it is a foolish business man that will invest in a capital project with liquid cash against available loan. I now understand why lots of Nigerians are very poor. Most capital projects are financed by loan any where in the world. During the meltdown economic crisis, Almighty America borrowed from China to facilitate there capital projects to revive their economy. I pity for my country with the high bunch of illiterates we breed. Basic Economics. Tufiakpa.

It's a simple thing.

Albert Einstein, why not use your non-meat brain to list those "capital projects"?

porka:

So, could you itemize what the funds were used for?

"Could" The correct expression is "can you" but really it is a stupid question. Why not ask google or failing that the oldest member of your family ?
I am not a spokesman for Lagos State

NwaTeacher1: Fashiola is a smart Criminal. Lagos state internal generated revenue is the highest in the country today. What & what did he do with 160b. I pity the poor masses who will come out & shout " Fashiola is trying". Try where? APC & its deceit since 500BC

FASHOOOWW & OJUYOBO, THE DUO ARE STEALING LAGOS BLINDLY THE REASON WHY PEOPLE ARE NOT TAKING NOTE IS THAT THE REVENUE THAT LAGOS STATE IS GENERATING IS SO HUGE TO THE EXTEND THAT NO MATTER HOW THEY DIP HANDS INTO THE POT OF SOUP IT WON'T HAVE EFFECT, IS JUST LIKE THROWING A FISH INTO ATLANTIC OCEAN TO DRINK WATER FROM IT THE FISH CANNOT MAKE IMPACT!

iwonbaoko:

What is at stake in Eko Ile or Mgbidi?

Are you mad

Who told you he has COLLECTED 160 billion?
You are just an ignorant dunce with no idea what is at stake as you claim. The World bank pays contractors directly just as was the case in the
Ebonyi Bamenda road on the Camerounian side of the road.
The issue here is the loan. If you want to talk about Fasholas performance that is another issue. But why are you so interested in our Lagos sef. Go and fix your teaching hospital in Abia

What is this one blabbing about? You are not making any iota of sense!

By the way do you know how much tax I pay to Lagos State yearly? Or you think I have no right to query what my money is used for in the state I pay the tax? Or is Fashola performance limited only to planting and watering of flowers, while over 160B disappear into a black-hole?

Guy, park well!


#FasholaBringBackOur160Billion

One of Fashola's few public projects (i.e. projects that are not on PPP arrangement) is being stalled for another 12 months.

What could be the reason(s)?

Is it shortage of funds?

Ahmeduana:
FASHOOOWW & OJUYOBO ARE STEALING LAGOS BLINDLY THE REASON WHY PEOPLE ARE NOT TAKING NOTE IS THAT THE REVENUE THAT LAGOS STATE IS GENERATING IS SO HUGE TO THE EXTEND THAT NO MATTER HOW THEY DIP HANDS INTO THE POT OF SOUP IT WON'T HAVE EFFECT, IS JUST LIKE THROWING A FISH INTO ATLANTIC OCEAN TO DRINK WATER FROM IT THE FISH CANNOT MAKE IMPACT!

You have no clue SO HUGE?? really ? Lagos has a total budget of about 50000 NAIRA for every person in Lagos annually. That does not seem like an Atlantic to me.
This year the budget was under 500 billion naira for at least 10 million people

BlackTechnology:


Guy you don't know what you are saying

Neither do you...but let's play.....

HEALTH


How did you arrive at $800 million

That's what Mass General in the US spends on research.

I stand to be corrected

#100 billion can be used to build a world class hospital in Nigeria

Yes,it is one thing to build....it is another thing to maintain what you have built. That is where the costs come in. And guess who pays....since you Nigerians refuse to pay for it....it is govt....and debts go up.

(Which is why Jona wanted to remove the fuel subsidy....the oil money is not enough).

If Fashola had wanted to build such, he would have done so under 8yrs because Lagos IGR is large enough to achieve it.

So,you are proposing to spend 1/4 of the state revenue on JUST one world class hospital? And we have not yet started talking about maintenance costs either....or fuel costs.Or the health budget for the other health centers, salaries, etc.

EDUCATION

I am a graduate of engineering-technology

Excluding applied, industrial and medical science you do not need so much money to train undergraduates of Engineering-Technology, Social Sciences, Financial related courses etc because real and computer simulated videos can reduce the use of their real life learning materials thereby reducing cost and perfecting their skills before they actually make use of the real life learning materials

So stop proposing this theory of high cost I have corrected you severally before

The problem with some of you guys from the West is that you guys fail to adopt the principle of winning strategy which says " There are multiple paths to success . Find out the certainty and cost of each path before choosing a path "

Pls stop proposing the theory of high cost if you have not search out for other paths, their certainty and cost.

Ya think?

Oil producer Norway's second largest university has an annual budget of $800 million. LASU spends N14MILLION per annum.

Want to know why?

Which leads to the ACTUAL point of my original comment....which you think is a defense of your pal Fashola.(It isn't.

NIGERIA NEEDS TO DIVERSIFY ITS ECONOMY SO THAT IT CAN AFFORD THE FREEBIES WE NEED TO ENJOY!(and reduce the debt in the process).

P.S....You better read the article. RICH KID,.POOR KID: THE FALLACY OF EDUCATION SUBSIDIES IN NIGERIA....answers the education issue well

The level of ignorance on this thread is alarming and the sad part is most of the people commenting have no idea of finance. A debt of N160 billion for a state like Lagos is not bad.

AZeD1: The level of ignorance on this thread is alarming and the sad part is most of the people commenting have no idea of finance. A debt of N160 billion for a state like Lagos is not bad.

I don't know whether it is good or bad. I do not necessarily support it but I think we must establish the facts first and that is why I have taken issue with some critics here simply on facts .As far as opinions go what do you mean by
"a state like Lagos" and what do you mean by "bad" at what point does debt become "bad" what are your bases for determining this?

iwonbaoko:
This is an adult forum? If you must quote me then take time to READ he claims the money is being spent on the Light rail project. I am NOT a Fashola or APC supporter. That does not mean we should not use our heads So ask questions like someone who has a brain and not meat and potatoes in their head.
Who gave the loan?
On what conditions
For what purpose?
etc if you use your head you will quickly figure out what he did with it.
The real debate if he is to be accused of mismanagement is whether the project is overpriced compared to similar projects. I believe there would always be that kind of thing but since I am not a Fashola supporter I cannot speak to that.
The fact is the World Bank gave that money for a SPECIFIC PROJECT not for the Lagos State general budget

Trash

Why haven't the project being completed

Stop talking like a kid

If the money is meant for the light rail project, why haven't we seen light trains on it working

At least let light trains start operating on completed sections


Pls return back to bed this forum is not meant for blind defenders or babies.

iwonbaoko: You have no clue SO HUGE?? really ? Lagos has a total budget of about 50000 NAIRA for every person in Lagos annually. That does not seem like an Atlantic to me.
This year the budget was under 500 billion naira for at least 10 million people

Let me ask you this when the governor said they generate 29billion did you believe him that he is delivering or giving the real fact about what the state is generating?

iwonbaoko: "Could" The correct expression is "can you" but really it is a stupid question. Why not ask google or failing that the oldest member of your family ?
I am not a spokesman for Lagos State

What are you trying to say with the bold?

Ok, could, can... it has been modified.

That you are not a spokesperson makes you like any other person here.

If you don't have an answer to people's questions why not just sit and read instead of jumping at what is clearly beyond you.

Are you that emotionally unstable?

People who use words like s.tupid, meat head, potatoes head etc are usually dealing with emotional issues.

Hope everything is alright?

aljharem: Fashola and the APC lead Tinubu government are full of lies and propaganda. Lets itemize the things he claimed to have do with a loan of 160 billion Naira. Also note that Lagos generate 29 billion Naira monthly apart from 12 billion Naira monthly allocation from the Federal Government

Is Shoprite a Lagos state project ? No

Is Lekki epe a lagos state project ? No and if yes then why are we being asked to pay at them toll gate, is this not double taxation ?

Are those housing estates Lagos state project for the elites or masses ? if for the elites then half of them is owned by Tinubu. If not then why sell a Lagos state "low scheme" flat for 30 million naira ? Does this even make any sense ?

Are those malls shops for the elites or market men and women ? The tejuosho mall and co are rented and sold at high prices. Most of them have already been bought by his commissioner and SA wives.

Is FERMA also Lagos state ? Ikorodu road has always been repaired and maintained by Ferma, not to talk of other road.

Point out what Fashola has done apart from over inflated projects, planting flowers and elites housing estates

Hoping for PDP to take over this Tinubu Empire

Olodo, Can you compare Lagos to your dung called Aba in Abia State?