olu obasanjo way, converting the drainages,

PortHarcourt modern international market,

http://hgk.biznet.hr/hgk/fileovi/21819.pdf

^^ Nice if they actualize it. We have been decived many times with computer generated images from Federal to State so we are no longer tripped. What i wait for now is the day i will visit the completed complex. then i will nod in agreement.

I feel you my bro, make we dey look,

Much Ado About a Bond
by Ibim Semenitari

I have read with a smile some of the things that have been said about the proposal of the Rivers state government to issue a bond. Cynicism is understandable, indeed even forgivable in a country where the people have held the short end of the stick for so long. For many Nigerians, Rivers people inclusive, government can only do one thing well - lie through the teeth.

So what way to go? is it possible that government might ever tell some truth, sometime, if not the whole truth all the time? Is it possible that at some point and with some of our leaders, politics does actually give way to governance? How can anyone be convinced that government-speak is not simply another name for robust propaganda that is self serving and destructive. Indeed is it possible to see government as pro and not anti people?

I must confess that even I am cynical of government. And no, don't laugh or sneer at me. I too am a citizen with full citizen rights including the right to be cynical of government. But after a year and a half of sitting on this side ( that is the government side) of the negotiating table in governance, I must confess that I am better schooled. No, not every government person is a rogue armed with a pen or these days a computer, waiting to rob the unsuspecting public of the common wealth. True some of us haven't made life easy for everyone but there is a lot more sincerity in official chambers than many of us are willing to give the leadership credit for.

Like the case of the proposed Rivers State N250 billion bond. I thought borrowing bulk money to meet an immediate need and paying back over a period of time is elementary economics. In the days of more robust companies and government, it was common place to see staff take car loans and housing loans to meet the pressing needs of either buying a car or paying one's house rents. Till date the concept of mortgage loans follow the same principle. Borrow bulk sum and pay gradually with deductions from one's salary. In simple terms this is what the Rivers state government is doing.

For a government with strong fundamentals and enviable ratings by two of the worlds top rating agencies; fitch and Standard and Poors, it is no crime to function with other people's money. If anything, it is good business sense. You borrow bulk to take care of critical projects and pay gradually over time little bits. The long term benefit is completed projects on time, reducing the possibility of inflation catching up with the project and even stronger ratings earned by paying back.

But even more important is the fact that taking a bond is no piece of cake, more so in a strong regulatory environment. But I agree that the people have a right to ask questions and even query the wisdom of government. In the same vein, they must listen to sound argument and good opinions should give way to better.

For avoidance of doubt, the Rivers State government is not borrowing because it is broke. Governor Chibuike Amaechi began for the first time in Nigeria's history, putting aside money monthly in a future fund. A future fund is exactly that. Money that can only be used by a future government. Regardless of this, the N1billion put aside monthly can hardly suffice to make bulk payment for a N60billion project or even one of N30 billion. For that, one must borrow and pay gradually. Governor Amaechi has made a promise to tell Rivers people exactly how much each project to be funded by the bond will cost. All of these projects will be subjected to due process, government will consistently open its books to show how monies are being expended. That is a responsibility the Amaechi administration takes seriously and one it intends to judiciously follow.

Why should you trust us? Because we did promise you transparent and accountable stewardship, anchored on integrity and good governance in October 2007, and somehow, warts, pimples and all, we have kept faith with that promise. Still, for those who dont trust government, at least, trust Fitch, S&P and the Securities and Exchange Commission. They too have given this administration a clean bill of health, and that should count for something.

ada-george(under construction) UPDATES,

Ada-George(under construction)updates!!

Ada-George (under construction)cont.d(1st and 2nd pix), steel bridge along iloabuchi-eagle island link road(3rd and 4th pix)

olu-obasanjo way(under reconstruction), updates,

olu-obasanjo way (under reconstruction)

olu Obj, cont.d,

stadium road(under reconstruction), Updates
the street lights have begun to appear,

monorail in progress

so after Four years we have no single completed project?

somze:

so after Four years we have no single completed project?

I tremble at your superior intelligence, you re a f***king genius! people like you is exactly what this country needs,

Ikwerre road phase 2 (UST-rumuokoro) reconstruction

Ikwerre road phase 2 (UST-rumuokoro) reconstruction, the old open drainage is being totally excavated in line with the drainage masterplan

Agip flyover, one lane is open for use to ease gridlock under the bridge, 70% complete, (last pix is the view of sani abacha from the bridge)

Olu obasanjo way(waterlines junction)

olu obasanjo, Adjoing streets off olu obasanjo are also billed for reconstruction e.g okomoko street,Dline(last pix)

Stadium road (updates), (reconstruction by RCC) , As far as i am concerned LCC,RCC and MCC should be the only companies doing intracity roads in PH, LCC especially has been very good, their work on ikwerre road(education to UST) and olu obasanjo has been superb,

I like the underground drainage system being laid out. I hope they do it right and forget about flooding for ever.

Ok village development.

harambe:

I like the underground drainage system being laid out. I hope they do it right and forget about flooding for ever.

my brother they seem to be pretty serious about it, apparently its dawned on them that the sorry state of roads in PH is mainly due to poor drainage, you cannot build roads in a coastal city like PH without first getting the drainage right, pure and simple! residents are waking up to find buildings sitting on drainage channels being pulled down and canals all over the city gradually being de-silted.Thats a good thing and i hope the government pursues it to the end with vigour.

Eko Ile:

Ok village development.

like seriously, how old are you

phantom:

like seriously, how old are you

Seriously, if my age is going to improve your quality of life , I was born just yesterday.

Btw, how old are you? 1 million years old?

tam david west flyover (M1 highway), updates,

M1 highway(1.towards NTA-choba and 2.towards the airport) 3&4.from rumuokoro

Phantom,
Happy new year. I bet there must be some more updates on Amaechi's Port Harcourt. Please, let us know of any more progress made. Thanks.

Nat

adokiye amiesemaka stadium,greater portharcourt under construction

made up my mind not to post pictures of the schools anymore cos they are damn too many, but this is one of my favorite(model school orogbum,nitel junction)