obailala:
Building a rail line inside a densely populated city like Lagos is not beans. It would actually be cheaper to build a rail line from Lagos to Ibadan than to build same line 'inside' Lagos.

tobtap:
PDP GOVT tried to kill d project b4....SAI APC

Johnpaul2k2:
[size=16pt]how about Niger Bridge?[/size]

chinchum:
Benefits of Lagos state aligning party wise with the centre.

babkunlex:
What happened to the light rail project embarked upon by BRF administration in Lagos state?

eaglechild:
We can't complete Lagos light rail project

We obviously can't complete Lekki international phantom airport.

And you will be the biggest fool to think that we can complete Eko Atlantic.

Use your head people where do you think we are getting all the money we are using to sponsor Buhari


www.nairaland.com/attachments/2079192_fasholaa_jpegfc425dbc9482db4d2098e4dd5e8bee75

pazienza:


Is that so? What then is Buhari approving if the LASG is going to finance the project strictly on their own.

The Federal Government has at last approved the construction of the $2.4 billion Lagos Red Line Rail Project after eight years of negotiation.
...
He said approving the right of way for the project had been a problem for years as the FG in the previous administration was foot-dragging in approving the right of way which belonged to the Nigeria Railway Corporation, NRC.
...
“It took us four and half years to get approval for the project. It took us another four years to get them to discuss the technicality of the project with us. The right of way has been approved and we are in full discussion with the bidders,” he said.
...
He said Lagos was the only state in the world to have embarked on such project without support from the FG, adding that such projects normally take around seven years to complete.

The commissioner said it took Dubai, with all its resources seven years to complete its rail project and in some places, 22 years.
http://naija247news.com/2015/11/buhari-approves-construction-of-2-4-billion-lagos-red-line-rail-project/

joeanointing:
The price is outrageous.

sayit247:
By Nsikkan Nkordeh

N29B Suspension bridge!!!

This is just ridiculous..all these ACN Governor are reaping off the people with hyper-inflation of contracts

I read that Governor Fashola of Lagos built the Suspension bridge connecting Lekki and Ikoyi, less than 2km, with a whooping N29B!

This is just crazy, a professionally way of stealing

How much does it cost to build a bridge across low-tide waters?

Really a shame that the same offence ACN accuses PDP is what they indulge in

Fashola has shown himself to be a man that defrauds Lagosians under the cloak of ‘development’

A less than 2km Suspension bridge for N29B is mad and wicked…

How much would he then build the 4th Mainland bridge that would span about 15km?..he would need a year’s budget to do that

Nigeria is plagued with mad men as leaders…looting through projects is a crime against humanity.

Op-ed pieces and contributions are the opinions of the writers only and do not represent the opinions of Sayit247

Follow Us On Twitter @sayit247 source http://www.sayit247.com/2013/05/n29b-lagos-suspension-bridge-is-a-huge-fraud/

Guyman02:


Must every article in NL attract Biafra mention? Abeg park well jare!

MadCow1:



Shallow Nature (Problem) - Dredging (Solution).



Piracy (Problem) - Improved Inland waterway security (Solution)




What next?

Johnpaul2k2:
[size=16pt]how about Niger Bridge?[/size]

asha80:
Intel

efilefun:
Finally!!!! The Project fashola started was disturbed by GEJ's administration so APC wont use that to campaign against PDP

vRendoh:

Na Wao o! If it is true the last Admin of GEJ grounded the economy as claimed by the APC, where is all these kalas coming from na? So this man leave big money behind and all this lies dey flow when him still dey alive?
Some people strong sha!

IlekeHD:
After this, some lazy Igbos will take credit for Yoruba mans hardwork.

pazienza:
Nigerian commonwealth spent specifically to build up Lagos and Abuja, tomorrow peeps will start bragging about how their sophistication built Lagos.

MadCow1:



Intel (Problem) - Consultants/research/e.t.c (Solution)

anonimi:


I don't know whether to PITY you or to be angry at your IGNORANCE since it is either deliberate or our of your mental LAZINESS to read and understand what our leaders looters are doing with our money.

Did Jonathan not approve the $1 billion World Bank loan for this project?
Is that how to "disturb" it?
This APC broom jazz strong well well oh, walahi.

When will you and others like you have some sense?
When?



www.nairaland.com/attachments/2162677_img20150225204321edit_jpeg56bb1cb2db278f716bb3a9df7c4cd726

obailala:
FG Approval was for the Right-of-Way

Jaideyone:
dunce if this kind of money was available under GEJ we wouldn't borrow to pay salary

FG, States, LGs Share N568.4 Billion for Oct



[img]http://cdn1.vanguardngr.com/wp-content/uploads/2015/09/412x247xOkonjo-Iweala-e1442838220305.jpg.pagespeed.ic.nz-K0adxSv.webp[/img]



Also, $1billion was proposed for distribution to complement shortfall in expected revenue." The $1billion is a compromise by the FG over its words in September not to augment shortfalls anymore.

Responding to the presentation, the chairman of the States Commissioners of Finance and Ebonyi State Commissioner of Finance, Mr Timothy Odaah, lamented that the statutory allocation was getting smaller and smaller. "It appears this is the worst in terms of returns. This is the least in allocations as far as this year is concerned. We are mourning the dearth of funds and this is a wakeup call for states and local governments to buoy up their internally generated revenue."

While appreciating the "magnanimity" of President Goodluck Jonathan to approve the $1billion from the excess crude account and to be shared among the federal, state and local governments, Odaah expressed disappointment with the returns made by the NNPC.

He said that [size=14pt]the states had requested for $2bn[/size] to complement for the shortfall in revenue but got only $1billion. In September, Odaah and fellow commissioners had walked out of the Accountant General of the Federation (AGF) when the federal government said that the framework of the 2013 budget was no longer realistic and it won't augment shortfall in revenue. Odaah raised issues with the statutory allocations of previous months.

More from: http://allafrica.com/stories/201311150323.html

Sweetguy25:
Your headline is misleading. Buhari did not approve any fund or money for the project. He only approved the development of the project. They are not the same thing.

jaymichael:
Lagos Commonwealth is used to feed your rural enclave. Lagos contributes trillions of Naira in revenue that accrue mostly from Import duty, company tax and VAT into the Nation's purse yearly. How much is Lagos given in return as Federal allocation? 200 billion naira or less. Lagos is shortchanged my friend. Lagos builds Nigeria's Commonwealth, not the other way round.

pazienza:
I don't think so, I believe the FG is likely serving as a facilitator to guarantee LASG foreign loans for the project.

I remember the FG under GEJ refusing to help LASG to get secure a loan, citing the fact that LASG was already deep in debt and should be thinking of how to pay off her already mounting debt instead of seeking for another debt.

Firefire:
Fellow Nairalanders, in response to Fashola comments below on not receiving enough support from the federal government to complete the Lagos light rail project.

[size=15pt]
"Fashola said all over the world, when cities and states build municipal rails like what Lagos is doing, their central governments support them morally and financially"[/size]

https://www.nairaland.com/2120455/cant-complete-lagos-light-rail

Few months ago same Fashola said this:


[size=15pt]Lagos: How We Spent N160bn World Bank Loan on Light Rail Project[/size]

The Lagos State Government yesterday justified the N160 billion it borrowed from the World Bank, noting that the fund was channelled to finance its light rail (blue line) project.

However, the state government expressed disappointment at the progress of the project, which it said, was not executed as smoothly as possible, but was optimistic of its completion.

The state Governor, Mr. Babatunde Fashola, said this shortly after inspecting the light rail terminus at the Orile-Iganmu part of the state alongside some members of the state executive council.

Speaking with journalists, Fashola said the project would have been completed in another 12 months despite that the project execution was not as smooth and speedy as he wanted it.

The governor raised questions on the intention of the federal government for publishing the state debt profile in the recent time, wondering what could have informed the decision to make it public.

He 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 do not 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.

“But you see, when people talk about debt of a state like Lagos, they forget that after Nigeria, South Africa, Egypt and one other country, we have the fifth largest economy in Africa.

“When you are talking of about a billion naira debt to a population of over 21 million people; because if you are measuring the debt, you also have to measure the responsibility. Those are the things people keep in isolation.”

He, therefore, explained that the state government already “has in place, strategies to repay the loan. The federal government was in the know of the state’s decision to take the bond and it approved it.”

He added that the truth “is that what they do not also say is that no state in Nigeria can borrow money outside, from any multilateral agencies [size=15pt]without the approval of the federal government.[/size]

“What they did not say is that they approved it. No state can raise money by bond the way we have done without the federal government’s approval. [size=18pt]Both SEC and NSE are all federal regulatory agencies through which we must pass. If they said okay, it means there must be something good about the debt.
[/size]

“Our rating as a state is the same as that of the Federal Republic of Nigeria, BB minus-stable with a positive outlook. We are the only state in Nigeria that has that rating. The first bond that was taken during my first tenure has been paid; the first tranche has been paid.

“I think the second tranche will be settled around 2016 or 2017. We are already making provisions. The provisions that will be there will be in excess of what is needed,” the governor said

Fashola expressed satisfaction on the progress of the light rail project, though decried the petty delay that was encountered as a result funding, saying the project would have should have been completed in another 12 months.

http://www.thisdaylive.com/articles/lagos-how-we-spent-n160bn-world-bank-loan-on-light-rail-project/188736/

pazienza:


I don't think so, I believe the FG is likely serving as a facilitator to guarantee LASG foreign loans for the project.

I remember the FG under GEJ refusing to help LASG to get secure a loan, citing the fact that LASG was already deep in debt and should be thinking of how to pay off her already mounting debt instead of seeking for another debt.

asha80:
ok...though I remember reading somewhere that port harcourt port (cant remember the exact one now) built before the war was specifically for export and that import was lesser compared to apapa and that it was functioning well then..problem is Nigeria now is more of and import country..really don't know the ports in port would feature in these scenario