swiz123:
When will this country become lenders?

uzy65:
don't let your doubt reap you off your potentials... see details below

zurich1010:


Afonjas...you are not America. You don't manufacture or build anything, and neither are you industrious. All you do is CONSUME!

Oladimejyy:
How does it concern you?Are an Ogun being

zurich1010:


Afonjas...you are not America. You don't manufacture or build anything, and neither are you industrious. All you do is CONSUME!

prodigy24:
where are the IGR billions?
I hope they have money to pay back from what they are owing anambra state.

CarlosTheJackal:
But you comment on Rivers thread like your life depends on it. Benit.a27 is a Rivers girl and a Nigerian so she has the right to comment on any issues here

blackboy2star:
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

CarlosTheJackal:
But you comment on Rivers thread like your life depends on it. Benita27 is a Rivers girl and a Nigerian so she has the right to comment on any issues here

Oladimejyy:
Are you her bf?wetin they do u sef

webincomeplus:

Please desist from criticizing what you don't know about. Asero-Obantoko road is a Federal road. The Abeokuta-Ibadan expressway starts from Adatan junction towards Car Wash and Asero axis. That's why the state government isn't doing anything to it, especially since the FG doesn't want states to touch its roads.

Come to think of it, who in his right senses would renovate a less busier Mokola-Ilugun road and abandon Obantoko road? It's a federal road, so direct your complaints to Fashola.

omohayek:
While I appreciate the sentiment that's driving all the opposition to this loan, I have to say that all this opposition is extremely misguided. As Blue3k already pointed out, the loan is being offered at extremely favorable rates, and will only be released in tranches, with each new tranche being conditional on the state government complying with World Bank requirements. This is not some sort of opportunity for a jamboree of looting!

Frankly, this loan would make a lot of sense purely as a means of refinancing Ogun State's debts at much lower interest rates, even if nothing else is done with the money than using it to pay off outstanding loans which were made at higher interest rates. Do any of you who are against the loan really understand the difference a 2% rate makes as against 12% or even 22%? Do you understand the power of compound interest at all? $350 million borrowed at 2% would require repayment of $574 million after 25 years, but at 6% the repayment required would be $1,502 million, at 12% the amount due would be $5,950 million (or approximately $6 billion). In addition, even if Ogun State obtained a zero percent return on investment, at 2% interest, all it would take for the loan to remain serviceable is for the state's per-capita IGR to remain constant for 25 years, as the state population is already growing at around 2%. It would take truly terrible governance for the state to suffer both a 0% ROI and 25 years of non-growing IGR per capita at the same time - governance so bad even the ignorant likes of Fayose, Ortom and Yahaya Bello probably couldn't manage it!

In other words, while I hate the thought of a governor accumulating unserviceable debts for future generations as much as anyone, this particular loan is absolutely a no-brainer from a financial point of view.

Blue3k:


Source: http://www.premiumtimesng.com/regional/ssouth-west/239517-why-we-want-n107-billion-world-bank-loan-ogun-govt.html

babaolofin:


Ogun State indigenes, I can see four likes and one share as at the time I am making this posting. The likes came almost immediately the posting was made. There is no need of going through the technicalities of ROI and payback period calculations here. I know Amosun is a Chattered Accountant and consultant to some companies and state governments before becoming state governor. It is like somebody coming to argue accounting technicalities with Olusola Adekanola. You may be one of the accountants in his company. The former governor, Gbenga Daniel an engineer also took loans raising money through bond from capital market he was not as rhetorics as Amosun because of his background, he also had his way.

We are not interested in this TURECI ( me I no go school), all we know is that we don't want the loan. An incoming government in 2019 can take the loan. You almost contradict yourself by saying that part of the loan would be used to pay off outstanding loans which were made at higher interest rates. Since the money would be released gradually based on performance, how will you defend those used to pay off outstanding loans? No multilateral institutions will give you loan to service another loan obtained at higher interest rates. Their loans are always tied to developmental projects. I know, by insiders deals, once the money is obtained, you can work on the papers and digress a bit from the purpose of the loan. From your write -up, you are an insider person. Senator has almost two years left, he needs money. Ogun people (Senator Kashamu, Hon Ladi Adebutu & other Ijebu people ) should not allow him to get this end of service benefit.

The damage his neglect of Remo and other parts of Ijebu land has caused in this second term cannot be cleared before May 2019. He should go.

omohayek:


Frankly, this loan would make a lot of sense purely as a means of refinancing Ogun State's debts at much lower interest rates, even if nothing else is done with the money than using it to pay off outstanding loans which were made at higher interest rates.

mogentle:
Ko le work, lai lai. The money will only be used for Abeokuta. Across Ogun State, it's only Abeokuta that's receiving attention. Several abandoned projects that were used to cajole us into second term. Come to Sagamu, the local government is a shadow of itself, no trunk C or inner Street road has ever been touched for repairs since Amosun'ds first term. All the roads are in very bad shape. From Sabo GRA road, Ode Lemo road, Ojumele, Alagbon mefa, Ayepe road, in fact nowhere is good to drive in the inner street. The only project in Sagamu is Akarigbo Road but has not been completed since. People are seriously angry. But why does APC govt in Ogun strangulate local govt? Many of LG apointees will complain of lack of fund from state and you'll pity them. It's highly pathetic.
You'll only hear that Ogun State have highest number of industries, Ogun has high IGR after Lagos, but when it comes to development, it seems Abeokuta is the only one meant to enjoy 100% allocation. It's so bad.