jamace:
Ask Amaechi. It was abandoned by Amaechi. It is not a viable project. Amaechi only used it to syphon Rivers state money for 2015 elections.

AnanseK:

PDP had 16 to do it. They did nothing. See the foolish people now complaining

solihu:
PDP! May you be struck by a thousand kilo joules of lightening. Be scattered into smithereens! Dirty coven of witches and wizards

FOLYKAZE:
PDP should shut up

Tinlar:
Na waoo ,but the same PDP (lagos) that frustrated the project is still complaining that complainer must be slowpoke. Useless opposition. Go borrowed sense!!

dreamboytobi:
www.finabiz..com/2014/09/lagos-how-we-spent-n160bn-world-bank.html
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 without the approval of the federal government.
“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. 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.
“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.

RevenGeMission:
idiots

you didnt concieve the idea for 16 years


all you do is condemn

idiots

post=70331562:
See who is talking?!
Bunch of failures.
Shameless lots.

Tinlar:
Na waoo ,but the same PDP (lagos) that frustrated the project is still complaining that complainer must be slowpoke. Useless opposition. Go borrowed sense!!

SEONaijaExpert:
Arrant Nonsense!

I think if we want to criticize we should do that with our common sense and not dive into destructive criticism just to gain cheap political points.

Everybody knows Ambode's performance record can NOT be compared to that of any PDP Governor.

The closest one somewhere in the east is just an imitation of the successes recorded in Lagos like 2 years ago.

seguno2:


Slow down the project by approving the World Bank loans for the light rail?
Why don’t you ask Lai Mohammed to teach you how to tell lies ??

oyb:
The same jokers who did what they could to slow down the project.

seguno2:


The failures are properly identified.
PDP and Jonathan built the Abuja metro and Kaduna-Abuja railways in 16 years and Buhari completed it.
The 20 years continuity of Tinubu, Fashola and Ambode has FAILED to complete one small light rail after borrowing billions of dollars from the World Bank.
The same light rail started by Jakande before oloriburuku Buhari cancelled it in 1984 and made the state pay $75 million penalty for breach of contract.
Useless APC can only commission an incomplete bus stop 34 years after that senseless cancellation.
Failure knows itself.

seguno2:


The failures are properly identified.
PDP and Jonathan built the Abuja metro and Kaduna-Abuja railways in 16 years and Buhari completed it.
The 20 years continuity of Tinubu, Fashola and Ambode has FAILED to complete one small light rail after borrowing billions of dollars from the World Bank.
The same light rail started by Jakande before oloriburuku Buhari cancelled it in 1984 and made the state pay $75 million penalty for breach of contract.
Useless APC can only commission an incomplete bus stop 34 years after that senseless cancellation.
Failure knows itself.

obi58:


How did PDP frustrate a project that has gulped over a billion Dollars (not naira o!) in World Bank loans which Lagosians are being taxed to repay since 2008 and all can be promised for 2022 is phase 1 of the project alone.

For your information phase 1 is just 3km long.

So dear brother don't make this about party please.

APC has administered Lagos for the last 19years and should account for what 1 billion dollars of Lagosians money has been used to deliver.

AnanseK:

PDP had 16 to do it. They did nothing. See the foolish people now complaining

deomelo:
PM is completing in less than 3 what the same PDP clowns couldn't finish in 16 years...

No wonder Nigerians kicked them to the curb...

Bunch of worthless losers

obi58:


How did PDP frustrate a project that has gulped over a billion Dollars (not naira o!) in World Bank loans which Lagosians are being taxed to repay since 2008 and all can be promised for 2022 is phase 1 of the project alone.

For your information phase 1 is just 3km long.

So dear brother don't make this about party please.

APC has administered Lagos for the last 19years and should account for what 1 billion dollars of Lagosians money has been used to deliver.

Jokerman:
Although it's coming from the worst of sorts, APC in Lagos have not tried... Lagos should be on par with great cities by now in terms of rail transport, State cleanliness, education, Local govt amenities considering the kind of revenue it generates....

Buh what do I know, APC is my tribal party so I must support them even if they are not doing enough...

deomelo:




Sadly for you, they don't have to account for anything when it comes to this project because Lagosians are not blind, they see this project and serious work going on everyday, they see workers and engineers building massive rail bridge across the Lagoon everyday on their way to and from work. Lagosians are not stewpid or ignorant like a lot of trolls and irrelevant PDP losers.

Worry about your own village and useless village governors sometimes..

freeze001:


Hello? PMB completing bawo? It is a state project and not federal; Lagos has never been a PDP state so what's the connection with PDP on this issue in the first place?

deomelo:


Sadly for you, they don't have to account for anything when it comes to this project because Lagosians are not blind, they see this project and serious work going on everyday, they see workers and engineers building massive rail bridge across the Lagoon everyday on their way to and from work. Lagosians are not stewpid or ignorant like a lot of trolls and irrelevant PDP losers.

Worry about your own village and useless village governors sometimes..

obi58:



Hahahaha my Biafra brother you are back! How market?

You say a government that has spent over a billion dollars on a project since 2008 and is promising 3km will be ready by 2022 should not account for public funds spent to its own people?

What brand of tramadol do you take? You need to send me the recipe so that we can both get high

seguno2:


PDP in Lagos for 16 years?
What are you smoking

adeoba2008:
Have they ever ruled Lagos? PDP should shut up! We don't need their sympathy.