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Rivers State To Borrow N250 Billion Through Bond Issue. - Politics (2) - Nairaland

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Re: Rivers State To Borrow N250 Billion Through Bond Issue. by phantom(m): 12:38pm On Aug 01, 2011
StarBoard:

Quit acting like a re-tard and for once,think with your brain instead of your scrotal sac.
Why are you shifting the emphasis of this debate?
With all the money available to Rivers state,do you think it is a wise move to get a bond to embark on those projects?
Amaechi's but.t-kisser,was it wise to waste money on a sports festival and purchase of a jet when your 419 governor knew he had those projects to be done?
Apparently,government propaganda is your thing.You are either gullible to government statements or just plain stu.pid.
Kindly justify why a bond has to be taken instead of resorting to clowning on a public forum.

grow a brain first, then we can start from there, i am done with you!
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by Olaisrich(m): 12:40pm On Aug 01, 2011
Amaechi! Amaechi!! Amaechi ooooh!!! How many times did i called you?
What you have is enough if you can think!
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by otokx(m): 1:02pm On Aug 01, 2011
Bad move; AMAECHI should ask AKPABIO the secret of his success.
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by tjide: 1:07pm On Aug 01, 2011
I just hope the state govt will put the huge capital into good use which will be of great benefit to the people and not start embarking on some white elephant projects acroos the state just to get something to eat.
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by joeyfire(m): 1:25pm On Aug 01, 2011
tjide:

I just hope the state govt will put the huge capital into good use which will be of great benefit to the people and not start

Not to worry every Bond has a corporate trustee who keeps a stern eye on the money in the interest of the public. the trustee is in turn watched sternly by SEC ( a FG commission).
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by daniellle(f): 1:31pm On Aug 01, 2011
[img]http://flagcounter.com/count/Nsu/bg=F4F4F0/txt=F4F4F0/border=F4F4F0/columns=1/maxflags=1/viewers=3/labels=1/[/img][img]http://2.s01.flagcounter.com/count/Nsu/bg=F4F4F0/txt=F4F4F0/border=F4F4F0/columns=1/maxflags=1/viewers=3/labels=1/[/img][img]http://states.flagcounter.com/count/q0/bg=F4F4F0/txt=F4F4F0/border=F4F4F0/columns=1/maxflags=1/viewers=3/labels=1/[/img]
iznt it lyk 3rd tyme diz yea alone
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by phantom(m): 1:45pm On Aug 01, 2011
otokx:

Bad move; AMAECHI should ask AKPABIO the secret of his success.
not a bad move at all, when i first started work after leaving school, i and a couple of my colleagues used to do 'isusu'(cooperative), maybe 70k/month from everyone for one person, and it helped with major projects each of us wanted to do.i believe this bond will help turn the WHITE elephant projects into realities ONLY IF the funds are used well (hopefully), otokz,the portharcourt ring road was initially valued at 1billion dollars before the cash crunch pushed it up to 2billion.lets say its currently valued at 1billion(150billion naira), that leaves 100billion out of the 250 for the other projects, 1.the M10 highway, and infrastructure at the new UST.
Yes, he's supposedly saving a billion a month.from the inception of this administration,he should have saved about 50billion naira which is the exact cost of the monorail and apparently the state will end up funding the whole thing since the private part of this arrangement is foot dragging,
These are major projects that will help move development from PH as it is, everybody wants to be in PH city, why wont our roads breakdown and infrastructure overstretch.it is high time PH changes from its city-state status and these projects IMO will go a long way in achieving that,
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by COMPAQ(m): 1:56pm On Aug 01, 2011
I don't think Rivers state needs it. Most of the projects listed are unnecessary i.e monorail and entertainment centre. The ring road just maybe makes more sense. The guy should get the basics right before going all grandois. The roads in PH (other than the ones he just dualised or is currently dualising) are pretty bad and the traffic issues are mostly caused by ineffective management of junctions and commercial operators. Besides even the roads that were recently dualised (transamadi oginigba and Old Aba road have developed a few small potholes that are not a problem yet, but if they are not quickly adressed will become a problem within the next year. The government has no structure or process to quickly identify such small potholes and quickly repair them before they become gaping pot holes, but we expect to manage a monorail? We have not proactively done all that can possibly be done to surmount the small issues. Instead our solution to our traffic isues is monorail. Besides, someone rised a point somewhere that the monorail was supposed to be a PPP, so why is govt putting so much money in it?

Also trying to build a new university from scratch makes no sense. There is nothing wrong with the current UST. It still has quite a lot of space within it that could be used to build some quality new buildings. All you need to do is to get a very good architect to remodel the existing plan for the university. If Govt spends 10% of what it intends to spend on the new university to upgrade the existing one, the students there will be happy and pray for him and then the remaining 90% could go to other things. Besides, what matters is not so much the buildings et al, but the quality within its walls - lecturers, equipment, structure etc.

Amaechi has good intentions, but I think the mount of money available to him is getting to his head and his good intentions are not properly thought through. The solution to most of our problems is not to throw multi billion naira projects at them, but rather to sit down, analyse the issues, identify the bottlenecks, profer solutions that are most effective, efficient and create the best value for money as well as impact the largest number of the society at once and then implement.
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by Johndoe100(m): 2:04pm On Aug 01, 2011
I think the govs priorities are wrong. He needs to do something to uplift the people, go look at the  the way the people in the villages are, it is disgrace.
Why he doesn't care, I don't know.
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by phantom(m): 2:11pm On Aug 01, 2011
COMPAQ:

I don't think Rivers state needs it. Most of the projects listed are unnecessary i.e monorail and entertainment centre. The ring road just maybe makes more sense. The guy should get the basics right before going all grandois. The roads in PH (other than the ones he just dualised or is currently dualising) are pretty bad and the traffic issues are mostly caused by ineffective management of junctions and commercial operators. We have not proactively done all that can possibly be done to surmount those issues and we are immediately talking of a monorail. Besides, someone rised a point earlier that the monorail was supposed to be a PPP, so why is govt putting so much money in it.
i agree that the monorail IS unecessary especially when are roads are still bad but its already started.it is a PPP arrangement but the private partners seem to having problems coming up with their own cash.
The entertainment centre is not "entertainment" as such.its like an IT park and its solely to help development shift to GPH.
Johndoe100:

I think the govs priorities are wrong. He needs to do something to uplift the people, go look at the  the way the people in the villages are, it is disgrace.
Why he doesn't care, I don't know.
sometimes when we argue we should be fair.What do you suggest he should do to help them?lap them and feed them?the songhai farms at ogoni, who are they meant to help?the health centres and schools in these communities,who are they for?
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by phantom(m): 2:34pm On Aug 01, 2011
the Rivers State Government in conjunction
with SBT Juul Africa, will develop the US$150 million (€109
million) Retail Mixed-Use Park/Centre.

This new development is called Monte@Rivers and will be developed
in the Omagwa Area of the New City in Great Port Harcourt
City. Monte@Rivers will borrow elements from a traditional
Tuscany village, where shoppers and visitors will be emotionally
and psychologically transported to Italy. For diners, a unique experience
will be offered with fine restaurants and seating spilling
over onto the streets. It will comprise purpose-built office blocks,
retail and shopping malls, entertainment halls, a luxury hotel, a
conference and events centre with a wedding chapel, additional
religious gathering rooms, conference and banqueting facilities.

The project also involves a multi-purpose piazza which could feature
exhibitions and expos and a secured parking area, cinemas,
theatres and game arcades, an amphitheatre and adventure activity
such as rock climbing walls, bowling, water-world and funfair rides.

www.youtube.com/watch?v=zRF87eLxyYE
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by COMPAQ(m): 3:09pm On Aug 01, 2011
Do we think at all in this country?? The cinemas we have are underutilised and we are thinking of building more!! Who is interested in bowling and rock climbing?? Our leaders lack the ability to reason or think logically. Because we see these things abroad doesnt mean we necessariliy nees them or can support them! Such things make sense abroad because of the large class of middle class who can afford them. Therefore, they stimulate economic activity. However, in PH, majority of the people are in the lower class other than Shell,Agip and Total staff and the other handful of bankers and oil servicing company staff who earn a good living. Even abroad where the middle class is huge, if you site a project like this in the wrong place, it will go up in smoke, yet we are siting this in Omagwa[/b], how many of the [b]FEW[i][/i] middle class we have in PH will bother to go there!!!

What the government should be interested in is programs/schemes that will help take the majority of the working population into the middle class. Once the middle class becomes more robust, things of this nature will even be done by the private sector. Afterall LASG did not need to build Silverbird or the Palms in Lagos. The market was there and the private sector moved in!!

RSG has not finished it's mall at GRA junction (which I even wonder if it can be a success, now that I cinema and Genesis centre have opened before it - maybe shoprite, KFC or Game can help to make it a success if they take up occupancy here) and yet, it's getting involved in another project in the middle of nowhere?

I tire o!!!
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by manny4life(m): 3:19pm On Aug 01, 2011
More like misplaced priority
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by EkoIle1: 3:27pm On Aug 01, 2011
phantom:

smartest thing i've read here todayhave you heard of songhai farms,rivers state??google it, you deserve exactly the kind of leadrers you get, grin grin


Keep quiet, na mediocre poultry.
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by otokx(m): 3:34pm On Aug 01, 2011
He wants to spoil the small goodwill that he has; the dollar is crashing and the naira is worse off, the 250 billion if committed to one project may make sense but putting it into many small projects is another way of wasting the money.
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by Nobody: 3:37pm On Aug 01, 2011
its becoming obvious that even the so called performing governors have nothing to offer as far as 2nd term is concerned.
GEJ might be right about the single term issue after-all.
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by manny4life(m): 3:46pm On Aug 01, 2011
Here is a quote excerpt from the post

The River State Government plans to issue a 250 billion naira ($1.63 billion) bond in October to fund infrastructure projects in the region, the state governor's office said on Sunday. The funds raised will pay for projects around Nigeria's oil-hub Port Harcourt, capital city of one of the states in Nigeria's oil-rich Niger Delta, the press secretary to Rivers State Governor Rotimi Amaechi said. T[size=15pt]hese would include a city monorail, the first phase of a science and technology university, an entertainment complex, a city ring road and a highway to the region's main airport.[/size]



As far as I can see, all but one of these projects requires a capital and that's for the road and highway that links to main airport. Why do Nigerian gov. wanna put states into debt? Monorail is good but let the transportation sector for it through and as for entertainment complex, had that over to the private sector, and what's with the Science and Tech University? He's gonna take a bonds to build a university? Something that is a liability to the state, not even revenue generating, this is just ridiculous shocked shocked shocked
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by otokx(m): 4:21pm On Aug 01, 2011
What is the point doing cottage industries when there are no roads to evacuate the products? Roads first and that is what AKPABIO has understood. Port Harcourt by the way is not the only town in Rivers State.
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by Idondome: 4:42pm On Aug 01, 2011
@Redmann44, u hit d nail on the head. U cannot borrow to build something that will not generate revenue to pay back d money. Let him look in the direction of job creation by setting up something. Later, he can build amusement park with the profit. But borrowing is killing.
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by dayokanu(m): 5:08pm On Aug 01, 2011
Can anything good come out of PDP?
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by Nobody: 5:14pm On Aug 01, 2011
phantom:

grow a brain first, then we can start from there, i am done with you!
Who started with who?Didn't you jump on me first?
Your mouth is so glued up Amaechi's behind that you can see what he had for lunch.
All your posts in the defence of your talkative governor are as solid as a leaking sieve.

Tuscany village?Is that what Rivers people need?
I'm pretty sure you're not well upstairs,or else how would you type that arrant nonsense?

You still haven't managed to convince anybody on why Amaechi should get the bond.Which has always been my point,but sycophants like you who make a daily living out of praise-singing a governor who at best is on average are expected to offer such inane defenses.
Get a better life.I keep telling you not to make a mockery of yourself on a public forum,but you won't hear.If you were gainfully employed,you wouldn't reduce yourself to this low.
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by phantom(m): 7:08pm On Aug 01, 2011
StarBoard:

Who started with who?Didn't you jump on me first?
Your mouth is so glued up Amaechi's behind that you can see what he had for lunch.
All your posts in the defence of your talkative governor are as solid as a leaking sieve.

Tuscany village?Is that what Rivers people need?
I'm pretty sure you're not well upstairs,or else how would you type that arrant nonsense?

You still haven't managed to convince anybody on why Amaechi should get the bond.Which has always been my point,but sycophants like you who make a daily living out of praise-singing a governor who at best is on average are expected to offer such inane defenses.
Get a better life.I keep telling you not to make a mockery of yourself on a public forum,but you won't hear.If you were gainfully employed,you wouldn't reduce yourself to this low.

dude please do us and especially youself a huge favour and slit your wrist because obviously the better part of you trickled down your old boy's legs and ended up as foul smelling black stain on the bedsheets, clown! grin grin grin grin
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by EkoIle1: 8:41pm On Aug 01, 2011
StarBoard:

Who started with who?Didn't you jump on me first?
Your mouth is so glued up Amaechi's behind that you can see what he had for lunch.
All your posts in the defence of your talkative governor are as solid as a leaking sieve.

Tuscany village?Is that what Rivers people need?
I'm pretty sure you're not well upstairs,or else how would you type that arrant nonsense?

You still haven't managed to convince anybody on why Amaechi should get the bond.Which has always been my point,but sycophants like you who make a daily living out of praise-singing a governor who at best is on average are expected to offer such inane defenses.
Get a better life.I keep telling you not to make a mockery of yourself on a public forum,but you won't hear.If you were gainfully employed,you wouldn't reduce yourself to this low.




Why waste your breath on a mindless troll?

Trolls don't think, they have no brains.
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by wallas: 10:31am On Aug 02, 2011
the move of purchasing new aircraft with such like "am not safe in the jet that my predecessors' using" is not credible enough. jets doesn't add to the economy. Creating new university, stadium, entertainment sites and so on are ideas that productive, they add good returns if manned by the proper personnels. meanwhile the core of it all is BORROWING, and no matter how strategic or diplomatic the cabinet may be, doesn't hide the fact that debtors like Nigeria since independence has not thought about remedying the compound debt lest devising a system of building a stronger fund system.
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by otokx(m): 12:50pm On Aug 02, 2011
The one that baffles me the most is the UST issue; what is wrong with that campus? Why can't he just put up five 10 storey gigantic student hostels in that place then add a mix of gigantic lecture halls and oh dear, Pardon my use of the word "gigantic"
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by phantom(m): 3:40pm On Aug 02, 2011
otokx:

The one that baffles me the most is the UST issue; what is wrong with that campus? Why can't he just put up five 10 storey gigantic student hostels in that place then add a mix of gigantic lecture halls and oh dear, Pardon my use of the word "gigantic"
theres nothing wrong with the present campus at all, but the present place can be converted into a world class medical school for the state university.
Re: Rivers State To Borrow N250 Billion Through Bond Issue. by Bensonite: 9:21pm On Aug 02, 2011
phantom:

theres nothing wrong with the present campus at all, but the present place can be converted into a world class medical school for the state university.
It will be okay if the new campus in GPH carries the world class medical school. The existing campus will not suit that purpose considering the structures and the size except their is a plan to rebuild by demolition the old ones-(no need to demolish if you ask me). Once again he can build new faculties and introduce new courses in a campus in GPH-no problems provided the existing one is turned to world class university by upgrading the school lab/workshops/library, LT, etc.

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