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Nairaland Forum / Nairaland / General / Politics / Why We Want N107 Billion World Bank Loan – Ogun Govt (8097 Views)
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Why We Want N107 Billion World Bank Loan – Ogun Govt by Blue3k(m): 11:14pm On Aug 07, 2017 |
The Ogun State Government on Monday explained why it approached the World Bank to secure a N350 million loan. Source: http://www.premiumtimesng.com/regional/ssouth-west/239517-why-we-want-n107-billion-world-bank-loan-ogun-govt.html 1 Like 1 Share |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by Nobody: 11:22pm On Aug 07, 2017 |
All this their deadweight loan they keep incurring. They end up stealing half of what they borrowed while investing some on elephant projects. 6 Likes |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by Blue3k(m): 11:24pm On Aug 07, 2017 |
If the use cash wisely to develop state it would be good. Their IGR growth and industrial output nice. In 30 years the should be able to pay it off. If they actually stay focused on capital projects and improving workforce that will propel them. The loan conditions are almost idiot proof. ● loan payable over 25 years with a five -year moratorium ● 2% interest rate ● World Bank loan disbursement made in tranches based on performance. ● The present administration in the state could get a maximum of 25 per cent. 17 Likes 1 Share |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by Seguntimmy(m): 11:28pm On Aug 07, 2017 |
Continue, borrow the money now, by the time another set of people comes into power and start complaining there is no money in the state account, I want to believe people like you would be the first to abuse and accuse those in power of incompetency. . . Nigeria is owing over 2trn and here u are also trying to rub insult to injury. God is watching you all in 3d. 9 Likes |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by Nobody: 12:20am On Aug 08, 2017 |
I beg to digress, Has his excellency completed the road and flyover projects in; Akute, Odo lambe, Alagbole, Agbado, Ijoko ogba iyo.? ? ? ? ? Have the work on the light rail, airport, refinery and makun city begun? ? ? ? ? Is there a possibility that these projects have been jettisoned? ? ? ? ? My heart and sincere condolences goes out to the victims and survivors of the ozubulu carnage, #ozoemena 18 Likes |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by ExplorerReturns(m): 3:48am On Aug 08, 2017 |
we should stop this too much borrowing with the excuse that they will be invested we or repaid over 25yrs period. why accumulate debt for the upcoming generations? we should learn to invest the little we have and make out something productive out of it! Ogun already has enough igr to take care of her infrastructure and anything the loan is intended to achieve!!! meanwhile you can invest your spare cash in mmm. join my mmm telegram group to rob mind and discuss issues with fellow participants. join through the link in my signature!!! |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by Oladimejyy(m): 4:57am On Aug 08, 2017 |
Benita27:How does it concern you?Are an Ogun being 1 Like 1 Share |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by dannytoe(m): 5:38am On Aug 08, 2017 |
It will be nice, if only they dont use the money to visit buhari in london and send their children to UK for studies. 1 Like |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by Nobody: 5:50am On Aug 08, 2017 |
Yorubaa states and loans are like 5 and 6 18 Likes 3 Shares
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Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by NwaAmaikpe: 10:12am On Aug 08, 2017 |
It's such a shame. With the loans all these governments are taking. The future of Nigeria is irredeemably bleak...what revenue would be used in paying up these debts? One day this country will be colonized by our loan givers. 6 Likes 2 Shares |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by Lukmann1: 10:12am On Aug 08, 2017 |
107 billion? haba does he wanted to purchases a Neymar for his state football club? 3 Likes |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by 0b100100111: 10:15am On Aug 08, 2017 |
Ogun state deserves to I must give to Amosu! Ogun state has massively been exploiting its close proximity to Lagos and taking steps after Lagos. The sudden rise of its IGR has show that Ogun state is on track and in the right direction. Being the "Functioning" industrial hub of Nigeria, Ogun state is the next big thing to happen to Nigeria! 4 Likes |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by GreatMahmud: 10:15am On Aug 08, 2017 |
Criminal.. |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by swiz123(m): 10:15am On Aug 08, 2017 |
When will this country become lenders? 4 Likes 1 Share
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Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by Thermodynamics(m): 10:16am On Aug 08, 2017 |
They are just looking for more money to steal, all those things when their secretary/personal assistant help them write up there na rubbish. Just say you de find more money to thief. Bunch of corrupt old men. Make them Gerarahere men s.h.i..t... 4 Likes
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Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by CROWNWEALTH019(m): 10:16am On Aug 08, 2017 |
Awon oloshi 3 Likes |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by IMASTEX: 10:16am On Aug 08, 2017 |
Hmm |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by chuksOG: 10:16am On Aug 08, 2017 |
Help with cac company registration please |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by goliprospe(m): 10:16am On Aug 08, 2017 |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by tspun(m): 10:16am On Aug 08, 2017 |
I wonder what this state have being doing with all the taxes they are collecting from all the companys in the state. the state is benefiting so much from its proximity to Lagos state yet its still a failed state. 6 Likes 2 Shares |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by Thermodynamics(m): 10:16am On Aug 08, 2017 |
zurich1010:Mr man, Corruption affect us all. Must you bring tribalism into every topic? em? even for topic when nor get anything to do with tribe, you still de force tribalism de come here, Emeka, take ya time oh. 7 Likes 1 Share |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by dukauchen(m): 10:17am On Aug 08, 2017 |
They wanna borrow and loot again abii |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by Abegfucklife(m): 10:18am On Aug 08, 2017 |
Lukmann1:maybe he Want too build an underground train linking Ogun too Debt World. 8 Likes 1 Share
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Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by blackboy2star(m): 10:19am On Aug 08, 2017 |
I just don't trust Amosun with this loan... Build unnecessary bridge along stadium and overlook asero - obantoko road.. mind you both are federal roads 2 Likes |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by teekay213(m): 10:19am On Aug 08, 2017 |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by Generalyemi(m): 10:19am On Aug 08, 2017 |
for skull mining and scavenging |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by Omofunaab2: 10:21am On Aug 08, 2017 |
PIGS AND IDIOTS should understand that no financial institution will give loans to non-viable states. They must have been convinced by the repayment plan of the state government 2 Likes |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by Basic123: 10:29am On Aug 08, 2017 |
zurich1010:Other states especially southeast states dont have any collateral to be used to borrow.They are not valuable. You know the reason why United States of America is the most indebted country in the world? 4 Likes |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by Nobody: 10:31am On Aug 08, 2017 |
Basic123: Afonjas...you are not America. You don't manufacture or build anything, and neither are you industrious. All you do is CONSUME! 4 Likes |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by HajimeSaito(m): 10:32am On Aug 08, 2017 |
Blue3k: I agree with you entirely. 2% fixed interest rate over 25 years with constant monitoring to make sure that the money is spent as it is meant to be spent is EXACTLY the kind of loans that Nigerian governments should be applying for. It is all those loans with escalating compound interest of 25% per annum which was borrwed from private creditors that is responsible for our present high national debt profile. 4 Likes |
Re: Why We Want N107 Billion World Bank Loan – Ogun Govt by Nobody: 10:37am On Aug 08, 2017 |
Hmmm swiz123: The road to becoming a lender is simple. For now....invest heavily in technical and vocational education, fix power, provide generous incentives for industries, and make your economic goal to be an exporter of finished goods...then we can lend well well. And anyway....even some lender countries borrow! (US is indebted to China for example). NwaAmaikpe: So long as we keep on relying on exporting raw materials, we will be forever borrowing. It is simple. Prices of raw materials like oil, solid minerals, agric products (eg cocoa, palm oil, cotton) fluctuate heavily. And when they fall...we have to take loans to massively keep on meeting financial needs/responsibilities. Exporting a diversity of raw materials is a good idea...when price of cotton falls, we can rely on cocoa. But that one too has its own pitfalls. The solution is to become an exporter or manufactured goods...and that involves a long and hard road of investment in technologic development...and fixing our lights,transport , techincal education, etc. Am not a fan of Chairman Mao of China. But one good thing he did that helped China become the nation it is today....when he was in power...he got his then allies the Soviets to send in a lot of people to train TECHNICIANS. Not white collar jobbers....techies. That's something we need to focus on more in Nigeria too. 2 Likes 1 Share |
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