porka:

How so?

orlaryhincah: Una no fit catch Fashola for corner I swear

iwonbaoko: 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?

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

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

EmoBoy: He failed to state what the debts were used for. I have no objection towards borrowing only if it used to finance revenue generating infrastructure projects or for provision of social services. However, if this is not the case and the debts are used for recurrent or variable expenditure then we have a problem.
With the amount of revenues being generated by the state government, it is expected to see the mega infrastructure projects in the state but this has not been the case. This has given room to fears that the funds are being misappropriated by the state government.

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??

"WE CAN'T STOP THEM COMING"

If Lagos were a country its GDP would make it Africa's seventh biggest economy - more than twice the size of Kenya's. Its large consumer market is already well established for firms like Unilever, Heineken and Nestle.

One of Africa's biggest stock markets sits here, as does its second biggest market in government bonds. Industry is hampered by poor power generation, but the service sector is booming.

Lagos accounts for more than half the non-oil economy of Africa's leading energy producer, says economist Paul Collier, who sees it as key to breaking the country's dependence on oil.

"Lagos is Africa's best chance of a productive megacity," he wrote in The Plundered Planet. "As oil runs down and is replaced by a new economy ... Nigeria's economic future lies in Lagos."

Debt-to-GDP ratio
From Wikipedia, the free encyclopedia


In economics, the debt-to-GDP ratio is the ratio between a country's government debt and its gross domestic product (GDP). A low debt-to-GDP ratio indicates an economy that produces and sells goods and services sufficient to pay back debts without incurring further debt. Geopolitical and economic considerations - including interest rates, war, recessions, and other variables - influence the borrowing practices of a nation and the choice to incur further debt

Ambode says Lagos debt is under control
September 8, 2014 | Filed under: Breaking News | Author: Editor

Akinwunmi Ambode, a former accountant-general of Lagos State, and one of the expected candidates for the APC’s gubernatorial elections, has refuted allegations that the ruling APC government had saddled Lagos State with unmanageable debt.

Speaking last week at the inaugural Leadership Series organised by For The Future Nigeria, a political action committee affiliated with the All Progressives Congress (APC), Ambode explained that debt should never be analysed in isolation but should be considered in relation to GDP. In that measure, Lagos has one of the best debt-to-GDP ratios in Nigeria, surpassing that of most states and even the Federal Government. He further explained that most of Lagos’ debt went to finance projects that would increase the state’s revenue-generating capability – ensuring that Lagos would continue to develop and remain credit-worthy.

porka:

It's a simple thing.

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

forgiveness:

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

bushdoc9919:

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


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



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).



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.



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

AZeD1:
Bad debt is unsustainable debt or debt that was used for frivolities.
If we use the figures branded around here (N40 billion) as the monthly income of Lagos state, then the State government has about N4000 to spend on each resident of the state(population 10 million).
Now what can N4000 do monthly? We have also not paid salaries of the workers or considered the liabilities of the state.
This money has to be gotten from somewhere and you also have to realize that while the state government has to pay salaries at a certain time, you are not guaranteed the exact time it will get it allocations.

BlackTechnology:

Research and medical services are two different things.
Why research focuses on finding new things, medical services focuses on addressing medical challenge using existing knowledge.
And if Fashola seeks to make the hospital research oriented, all he needs to do is to invite investors to invest in a research project with the agreement of sharing the gains of success.


How do you think Indians handle their Maintenance cost
Guy, hospital charges paid by people will be used to pay for it.
He can even create a scheme whereby people can have a special account with Insurance companies connected to the hospital so that if they have any medical challenge these insurance companies can foot their bills


I repeat

For non pure , applied and medical sciences, real and computer simulated videos can reduced the use of real lab/workshop learning materials thereby reducing cost of education. This can also help to perfect their skills before they are allowed to make use of real life learning materials.

Note

US use simulated video to train their troops before they handle real weapons.

Germany use simulated videos to train their pilots before they handle real planes

This help them to save training cost and equipping cost

You are computer literate

Ponder on what I just said below

Remember

There are many paths to success. It is your duty to find out these paths, their certainty and cost before picking a path

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

BlackTechnology:

Research and medical services are two different things.
Why research focuses on finding new things, medical services focuses on addressing medical challenge using existing knowledge.
And if Fashola seeks to make the hospital research oriented, all he needs to do is to invite investors to invest in a research project with the agreement of sharing the gains of success.


How do you think Indians handle their Maintenance cost
Guy, hospital charges paid by people will be used to pay for it.
He can even create a scheme whereby people can have a special account with Insurance companies connected to the hospital so that if they have any medical challenge these insurance companies can foot their bills


I repeat

For non pure , applied and medical sciences, real and computer simulated videos can reduced the use of real lab/workshop learning materials thereby reducing cost of education. This can also help to perfect their skills before they are allowed to make use of real life learning materials.

Note

US use simulated video to train their troops before they handle real weapons.

Germany use simulated videos to train their pilots before they handle real planes

This help them to save training cost and equipping cost

You are computer literate

Ponder on what I just said below

Remember

There are many paths to success. It is your duty to find out these paths, their certainty and cost before picking a path

disloman: Ignorance is a disease which can only b cured by commenting without hatred.C ya life.

bushdoc9919:

Hey stop pretending!

But in the event you are not pretending.

1.LASU has a budget less than N15 million (hey since this is a Lag thread....we might as well use the home uni).

2.Serious universities have budgets in excess of $200MILLION (in the American currencies).

3.Norway's second largest university.....has a budget of $800million....(Norway is the second largest producer of oil....and has a population of 11 million people....so of course they can afford that....plus Norway has industries).

My point is....if you want free education it is either you have the cash and the low population to sustain it,or Lagos starts producing oil at the amount Saudi and Norway do at current prices....or you raise fees.

Because pretty soon, our uni grads will lose out to better trained foreign graduates....all because the kudi isn't enough.

Unless you have N10 trillion to donate to Nigeria's universities.

Gbawe2:

Dude, I really respect all your input on this thread. Your intellect, clarity of vision and insightful knowledge puts you head and shoulders above others here who are mainly ignorant and just plain biased to the point of self-deceit. To even put issues in perspective, If Lagos were a sovereign Nation, it's GDP would make make it around the 7th Largest economy in Africa. Simplistically, and for those who are honest with themselves, are we saying that the over 40 Countries that fall behind Lagos in the GDP tier, if the State were an African nation, would struggle to get developmental loans, for critical infrastructure, totalling N160 billion which is $1 billion? The ability of Lagos to pay the loan, as you consistently inferred, is not in doubt because of a look at the financial health and vibrancy of the State.

With all due respect to Nigeria, there are property developers in the UK who get loans over $1 billion for private and riskier ventures and it is asinine to then think a mega city which has the 7th largest economy in Africa has somehow borrowed irresponsibly or above it's capacity. Do some of the ignorant individuals who have commented here know the meaning and implications of debt-to-GDP ratio? Lagos has one of the best debt-to-GDP ratio in Nigeria !!! As simple as that. Anyone who understands the economic issues that really matter for the purpose of this discussion will know Lagos has borrowed responsibly and indeed has the financial health, nurtured by the political leadership of the State for the past ten years, to borrow more. But for your impressive contribution, which gives hope that there are still intelligent and objective folks here, this is the sort of thread I ignore because it is usually a cesspit of hateful ignorance, self-delusion, misinformation and unthinkable obstinacy in the face of indisputable facts. Honestly, the pervasive market-woman ignorance which gives rise to the inane comment one sees here leaves me despairing for Nigeria.


http://uk.reuters.com/article/2013/10/23/uk-lagos-megacity-idUKBRE99M04620131023



http://en.wikipedia.org/wiki/Debt-to-GDP_ratio



http://businessdayonline.com/2014/09/ambode-says-lagos-debt-is-under-control/#.VBFWl_ldUvI

Ttalk: Why crying as if it your concern whether Lagos borrow money or not? Has BRF asked you to come pay it on his behalf? Leadership comes with responsibility and there are unavoidable risk that should be taken if progress is to be made. Many of you agree that Lagos can do without FG allocation, how did it arrive at that? This could not have been achieved without building a stable economic and industrial base that would guarantee the inflow of resources that make up high IGR Lagos generates. You people should better focus on meager oil money that is not enough to cover your expenditure and which will vanish the moment we start practicing true federalism.

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.

DVanguard:

I am more informed than engaging you in insult. I will not school you for your great ignorance. I will not mention the capital projects that are available all around Lagos state that encourages most company to be ready to pay their tax cos it is stated that in the congregation of the blind, one-eyed porka is a king. Keep your blind eyes to all the projects in lagos state cos of your ignorance. Ewu

DVanguard:

This is the most gullible suggestion have ever come across, seeking for investor for research purpose. Why will i invest into your research institute if you are not known for something in that field. Do you think investors just invest for investing sake.
Let us assume the investors agree to invests, how much do you thing it takes to set up a research institute of reputable standard that will draw up investors.

Hospital Charges should be used to run hospitals (are u serious). Do the know the staff strength of any government hospital in Nigeria. The charges or money generated is not enough to pay even the junior workers not to talk of senior staffs and overhead of the hospitals. If Nigeria hospitals are giving full autonomy i don't think most people will get health services. The Health sector in Nigeria is heavily subsidies even in the face of corruption. You talked about creating a special account like insurance, who pays the insurance people for every service rendered to the people or patient. Do you think the money will fall from heaven.

You are very funny, Germans trains their military with simulated video and equipment. Do you know how much it cost to set up such facility. Do you think when it comes to military intelligence you make it known to your future enemy or friend country.

It seems you don't understand the cost of all this facilities and programs. it cost Germans and Americans millions of dollars over the years on research before they are achieve. Wake up from the dream land gee.

Unemadu:

You are not very intelligent. The question is what did he do with the money and not why he should be borrowing

bushdoc9919:

Hey stop pretending!

But in the event you are not pretending.

1.LASU has a budget less than N15 million (hey since this is a Lag thread....we might as well use the home uni).

2.Serious universities have budgets in excess of $200MILLION (in the American currencies).

3.Norway's second largest university.....has a budget of $800million....(Norway is the second largest producer of oil....and has a population of 11 million people....so of course they can afford that....plus Norway has industries).

My point is....if you want free education it is either you have the cash and the low population to sustain it,or Lagos starts producing oil at the amount Saudi and Norway do at current prices....or you raise fees.

Because pretty soon, our uni grads will lose out to better trained foreign graduates....all because the kudi isn't enough.

Unless you have N10 trillion to donate to Nigeria's universities.