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Nairaland Forum / Nairaland / General / Politics / Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) (26690 Views)
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Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by micktoxin(m): 12:36pm On May 27, 2015 |
989900:You are right. To be honest, I made that comments based on similar project in western world. Sud Europe Atlantique fast train in france, is a 302km project with a cost of $8.49 billion=$28million per km. For comparison, Google map shows the distance between Lagos VI and Abeokuta to be 103km, which means a $23million per Km($2.4Billion). The trip between both end of the 302km is expected to take around two hours and ten minutes, which means in order to match that Lagos train must take the journey in ~45minutes. Unless Lagos state is buying ultra fast modern train, I doubt they will achieve such a feat? When you factor the overhead cost, the quality of the train in France, then it's very easy to see why the project cost of Lagos rail is puzzling. http://www.theguardian.com/business/2014/feb/09/high-speed-2-project-french-railway-construction Many rail project with similar distance don't even come close to that price. 7 Likes 1 Share |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by Dollyak(f): 1:08pm On May 27, 2015 |
LordTrezy:Amen oo thanks Sir |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by Nobody: 1:11pm On May 27, 2015 |
Dollyak: The problem with Nigeria is forced integration, the tribes in Nigeria never wanted to be together, but they were forced to be together and their battle for supremacy is toxic and childish. The North,SE and SS have had secessionist movement for years and the SW is just waking up to how truly unstable Nigeria is, so they are allowing the extreme prejudice they have kept under wraps come out in full force, All the tribes in Nigeria are guilty of tribalism (Yorubas revere Awolowo and see Ojukwu as the aggressor, Igbos revere Ojukwu and see Awolowo as the evil one, All the Nations that supported Nigeria during the civil blamed Ojukwu for starvation, The one's who supported Biafra blamed Awolowo for starvation, so all the sides involved picked the one that show them in the best light). Nigerian government did not help matters by sweeping the war under the rug and not discussing it, the fact there is so much conflicting stories about the war is also an issue. Look at the German Holocaust, the issue is straight forward ( the Nazis were at fault). I actually read an article from a Northerner where he wrote about how SW and SE hatred for each-other is beneficial to other regions and he was right. Nigeria will disintegrate eventually, may be not in 10 years or 20 years but it will happen, People have marinated in prejudice and hatred for so long for it not to happen. Sorry about your situation. 3 Likes |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by Dollyak(f): 1:14pm On May 27, 2015 |
Realconfo:Depressing, but thanks for that explanation |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by TonySpike: 1:16pm On May 27, 2015 |
micktoxin: Did you consider the terrain peculiarity in this modest analysis? I suspect that a number of overhead bridges might be involved in the particular Nigerian project, I might be wrong though... |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by 989900: 1:20pm On May 27, 2015 |
micktoxin: Informative. We should be having high speed trains covering Lagos-Kano (3-4hours), Kano-PH (3-4hors), PH-Lagos(2-3hours). Even at N15,000/trip many will prefer it to air or road. #Trillions in revenue. 4 Likes |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by paulibling(m): 1:22pm On May 27, 2015 |
micktoxin:i am an original IGBO. This post is to commend the good work on the rail track from both state. I salute the governors. 4 Likes 1 Share |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by NoMoreTrolling: 1:36pm On May 27, 2015 |
TonySpike: Lol Dis nigggah just made my day. Terrain peculiarity? Hehehe! Like say na only Naija get terrain and overhead bridges, lol. 1 Like |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by micktoxin(m): 1:53pm On May 27, 2015 |
paulibling:That's the way forward. Thanks. 3 Likes |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by Swiftboy(m): 1:55pm On May 27, 2015 |
Realconfo:Contrary to your opinion,a more prosperous Nigeria will not break. As a matter of fact,once things get better and development spreads all over the country,people will learn to blend in. Trust me,its only those that cant eat that clamour for this country to fall apart cos they're hoping they'll fair better alone. Lets just pray and workhard as individual and collectively to lift Nigeria higher. Well I dont want Nigeria to break,infact I think the civil war could have been averted. 2 Likes |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by chidinwachukwu(m): 2:06pm On May 27, 2015 |
superstar1:Fo.ol,all of yoruba people should continue to focus on the development of a former capital of Nigeria to the detriment of your own undeveloping and archeological states of Oyo,Osun,Ekiti,and kwara.Ndi iberibe |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by omonnakoda: 2:15pm On May 27, 2015 |
micktoxin:This project likely will cost more.Most of the inputs will be imported.Those that are not e.g cement is more expensive in Nigeria. The workmen are likely to be substantially foreign and again this will cost more than e. in their home nations for a range of reasons not least security and insurance. There will be significant demolition of property and compensation costs in Lagos. Generally lack of electricity and other infrastructure will add to costs so I do not think it is just as simle as comparing km for km 1 Like |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by Nobody: 2:17pm On May 27, 2015 |
Swiftboy: I like your positivism but economic power does not equal a united country, Is Scotland suffering? Their need to leave the UK & EU arises from their bad history with the Englishmen. Texas in America has a very active secessionist movement cause they never really agree with USA on most issues like Slavery, Segregation and so on. No matter how economically powerful a country is,if the people don't love each-other, they will disintegrate. China is very successful, go and read about the regions that want to break out. 3 Likes |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by matrixme(m): 2:45pm On May 27, 2015 |
I guess we are just counting days to align Ondo State to the cult of progressives. It's time the whole of South West take from their age-old wisdom and build a modernist region that all the others can copy from. 3 Likes |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by superstar1(m): 2:52pm On May 27, 2015 |
chidinwachukwu: Deranged mind and demented soul, the same way efik people are concentrating on the building of Nigeria's former capital of Calabar and the middle belters are also building former capital of Lokoja, Where will the chest beaters build? 8 Likes |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by mapet: 5:20pm On May 27, 2015 |
chuna1985: 1. Unfortunately you only think one way. Let's even humour your phantom N800 billion supposed debt. Going by the said stats, at 300 per day (this is looking at a return trip) average for 340days in a 365 annaul days, fetches ......... you do the math........ 2. Unfortunately still, while some of you just turn idiocy into an epidemic, sensible investors and builders of nations continue to take on viable capital project that serves the common good. Some of you are so interested in nitpicking unnecessary issues (Lagos debt, Fairly used coaches, and other ridiculous stuffs) while a typical Lagos has grown the IGR to 20billion + from 600 million, fastest growing city in Africa, GDP and economy bigger than many African countries. 3. I now see Babangida's point, (which we had thought was wicked) to be true. At this rate, this generation is not ready for leadership........... too many myopic empty brains. 2 Likes |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by mapet: 5:27pm On May 27, 2015 |
after1: Bros, You can't get any value from this upstart. He regurgitate same failed logic and can simply not articulate intelligent analysis, even in opposition. 1 Like |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by Nobody: 5:28pm On May 27, 2015 |
mapet: Lol, All these stories to defend the unserviceable growing debt of Lagos... Ur d kind of person who sits himself down n then execute self deception. . |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by arresa: 5:32pm On May 27, 2015 |
Oyinloye expressed gratitude to President Good Luck Jonathan for granting the right of way for which the construction could start. Funny how this lazy, incompetent and petty clown finally woke up to his responsibility after refusing for so many years to gran the right off way all because of petty politics? #Thank GodFor#Change. |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by Jobneeded12: 5:34pm On May 27, 2015 |
Swiftboy: Rather than break, regionalism is better 4 Likes |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by mapet: 5:35pm On May 27, 2015 |
micktoxin:bayulll01: :Olodo got a first class and did his DPhil in one of the best universities in the world. In addition, he is a manager of a world renowned firm. I laugh at your stupidity. Ok @ toxin, tell me you were discribing a Nollywood fantasy in the bolded and not you |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by Jobneeded12: 5:35pm On May 27, 2015 |
chidinwachukwu: Wow all those states you mentioned except ekiti are richer than all South Eastern states Ouch you actually forgot Ogun I hope you won't die on envy 5 Likes |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by mapet: 5:42pm On May 27, 2015 |
D1Wonder: Bros, I take your posers on two fronts 1. You underestimated the average intelligence on NL. Call people to accountability? that will take a basic intelligence to do that, and for NL that is aiming too high. 2. I think you should also do better than leaving questions hanging in the air. You can stimulate this discussion (that has already gone to the dogs, and if can be salvaged) by doing more fact-finding and bring out fact based posers for questioning. We can't just demand accountability without credible reference. For instance a comparative project of such nature in South Africa, Singapore, Venezuela etc costs how much on real terms? what are the economics of the project, which some of us can run a quick-and-dirty one for the sake of intelligent discussions on this thread. |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by mapet: 5:56pm On May 27, 2015 |
micktoxin: Bros, A lot of issues comes into costs, hence your too direct comparison falls flat. Are we able to pull the kind of funding the French, British and other advanced world can put together in a jiffy at the state of our economy? A typical Nigerian bank even the Zenith and GTs of this world will syndicate such loans with foreign consortium unlike a single HSBC or Bank of England that can single handedly finance a project 5times that magnitude; hence the cost begins to extend. For me, I think we should look at the delivery/value side. Chasing the cost side argument is a lost cause. How long can the project pay itself. 7years? 10years? How does it impact the economy of the coverage areas, in terms of direct inflow of revenue and complimentary/secondary value in job provision, catalyzing ancilliary industries, Capital knowledge transfer and increase in government take. A friend of my always jokes that the "Jinbei" (Chinese subterfuge of Toyota Hi-Ace bus) is the consequence of Toyota's "misadventure" in China. What do we make of he "Misadventures" coming into Nigeria? 1 Like |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by mapet: 6:01pm On May 27, 2015 |
I would have been decieving myself if I expected any intelligent counter argument from you.......... chuna1985: |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by micktoxin(m): 7:23pm On May 27, 2015 |
mapet:Nollywood fantasy indeed . Let me give you a snippets, I am a quant trader with a few analyst under my wing(I sell bull crap). Unfortunately, I am sure you can find a couple of my topic (2007 ) giving a bit more details on my background. At the end of the day the quote 'stay true to yourself' holds true here, and won't change my persona offline. That is as far as I will go on this subject. Perhaps. you should sign up to ]https://www.quantnet.com, you might catch a Nigerian or two deceiving themselves and others about who they are not. |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by micktoxin(m): 7:45pm On May 27, 2015 |
mapet:A lot of issues comes into costs, oh really (*Surprised*)? Let's come to a tangent for a second. The aim of the comparison was to raise more political question about any deliberate over budget. In other word, I am more concerned about the ethical side of the project. Comparisons using a division of the project by km/miles offer a semi accurate comparison, and are often use by most people with no access to the budget. Similar comparison were made between SUD Europe and HS2 rail projects. http://www.theguardian.com/business/2014/feb/09/high-speed-2-project-french-railway-construction with the enormous cost of this project, even the flawed benefit-cost ratio falls to just above one: the level at which the cost to the public purse equals the forecast benefit to the economy. |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by arresa: 8:07pm On May 27, 2015 |
micktoxin: Fact is, your comparison was flawed and misguided since the cost of everything associated with any kind of construction varies in any environment. The places you mentioned obviously produces nearly all the tools and materials needed and they definitely won't be shipping labor and materials across the ocean like the folks in Lagos and Ogun have to contend with, then you still have to contend with terrain, needed stations, bridges and countless other contingencies that you can not put any kind of price tag on. Again, you comparison was flawed and misguided even at least due to the fact that you have zero idea per what's on the table to be done, why and how and until you are able to do just that, you have nothing credible to base your analysis on. The ridership numbers available on the ground daily means this project is capable of paying off whatever loan secured in less than 10 years while pumping tons of money into the local economy with goods and services going back and forth with ease and taxes into state coffers... |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by abdulrazat(m): 9:56pm On May 27, 2015 |
micktoxin:he lied. Awolowo was released from calabar prison by Ojukwu before the war. Both men had an agreement on secession but Awolowo betrayed him all because he was promised a top position in Nigerian government. Reason why till date, no Igbo man in his right senses would trust a Yoruba man. One thing is certain with both tribes, an Igbo man is arrogant and proud but he would not betray you like a Yoruba coward who will always backbite. |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by mapet: 9:59pm On May 27, 2015 |
micktoxin: 1. If the aim of your argument was to raise a political question about deliberate overbudget, then your posers are inadequate and I thought we (some posters and myself pointed that out) How will costs in Nigeria be comparable to France for example? If you consider that almost the entirety of the capital costs are sought abroad in our case, expertise is gotten at a premium, our weak dollar vs. naira exhange rate, time lost in needless government bureaucracies, the risks factor built into cost of financing considering our environmental challenges (Fear of BH & ND restive youths), perceived instability in our government and policies etc. A typical french government will secure financing at probably single digit, while we get financing in region of 25%. That alone changes the basis of comparison. 2. A comparison of Project by km/mile simply gives you a poser to further dig down into the constituents when comparing countries. It tells a gives various people information that can be interpreted in many ways. A typical investor could choose to invest in France, if the cost per mile is cheaper, hence he requires less funds compared to doing same in Angola. A typical Nigeria government sees it from the POV of high cost of project financing that translates into longer term PBP and ROI, hence the need to look at the variables. 3. I tell you, it's simply intellectually lazy to do a brazen comparison without a level of adequacy on data to justify landed assumptions. Yes you want to call for probity, but we don't want to do that and allow government to take us to the cleaners. |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by mapet: 10:05pm On May 27, 2015 |
micktoxin: Grrrrrr!!!!!!! I am trembling with fear ......... bros, let's just keep to the topic, cos at this rate my fingers will be tempted to hit those under your wings |
Re: Lagos-Ogun Metro Rail Transit To Cost N456bn (Approval granted to start) by Nobody: 10:46pm On May 27, 2015 |
Yes i agree with you that osunistan's economy is bigger than the economy of Eastcoast, Jobneeded12:
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