A breakdown of the states that have approached the capital market for funds at different times reveals that Lagos is the highest with N275 billion bond issues.

Imo State (N18.5 billion issued in August 2009)

Kwara State (N17 billion also in August 2009)

Niger State (N6 billion issued in October 2009)

Bayelsa (N50 billion issued in June 2010)

Kaduna (N8.5 billion issued in August 2010)

Ebonyi (N16.5 billion issued September 2010)

Benue (N13 billion issued in June 2011)

Edo (N25 billion also issued in June 2011)

Delta (N200 billion, few weeks ago)

Rivers States (N100 billion bonds)

If anyone has more state capital debt figures, please post with the source Let's also discuss what investments we've seen on ground in these states. What are the funds being used for?


Source: http://allafrica.com/stories/201110300041.html

What are our states doing with the money?

Im surprised Lagos is not on the list?

WTH

As of 2009, the few states listed had an outstanding debt of N730 billion, oh boy, that's almost $4.8billion. Please, someone tell me this isn't true? Where is the development?

Oh boy, Ohakim really dealt with us o!

I dey laugh oo

DJTee:

Im surprised Lagos is not on the list?

Lagos dey there

lagcity:

A breakdown of the states that have approached the capital market for funds at different times reveals that Lagos is the highest with N275 billion bond issues.


If anyone has more state capital debt figures, please post with the source Let's also discuss what investments we've seen on ground in these states. What are the funds being used for?


Source: http://allafrica.com/stories/201110300041.html

I'm sorry folks, I want the army back,,,,,,,,,,,,,,,,,,,,,,,,, All this nonsense have to stop. I don't care whether he is Hausa, moslem or not. I'm truly snookered, we are all truly humiliated, by these inept bastards.

@Ola one, we can't continue to laugh for ever, you want to know why the white man took us slavery for over 200 years. This is one of the reason. We must learn as a race to fight our conner, even honorary death is better than leaving in fear. There is something seriously wrong with us (Black race). Please lets fight this people, they won't fight back they have so much money to enjoy they won't have stomach for a long fight. Lets fightttttttttttttttttttt with people power. They probably have private jets sitting in the compound for a quick take off at any slightest of people revolt.

fergie321:

I'm sorry folks, I want the army back,,,,,,,,,,,,,,,,,,,,,,,,, All this nonsense have to stop. I don't care whether he is Hausa, moslem or not. I'm truly snookered, we are all truly humiliated, by these inept bastards.

if you want army back then Nigeria will be no more in existence,OBJ just payed 30billion dollars to Paris club is it not military men that blew those money?

fergie321:

I'm sorry folks, I want the army back,,,,,,,,,,,,,,,,,,,,,,,,, All this nonsense have to stop. I don't care whether he is Hausa, moslem or not. I'm truly snookered, we are all truly humiliated, by these inept bastards.

Army back, are you crazy mehn?

Rivers State top the chat but not all the money was borrowed from the capital market.
The Government borrow N130Bn from Zenith Bank and has asked the House of Assembly to permit them to borrow N250Bn from the capital market.
So far, they have collected N100Bn from the capital market, hence if you add the N130Bn already owed Zenith bank, you have a total of N230Bn that Rivers State is indebted to.

And the debt keeps piling up with nothing to show forth. States who borrowed from the market in 2009, I believe funds have been disbursed, where are the developments that's worth 10's of millions of dollars?

Spyker:

Rivers State top the chat but not all the money was borrowed from the capital market.
The Government borrow N130Bn from Zenith Bank and has asked the House of Assembly to permit them to borrow N250Bn from the capital market.
So far, they have collected N100Bn from the capital market, hence if you add the N130Bn already owed Zenith bank, you have a total of N230Bn that Rivers State is indebted to.

230 billa? wow, even Lagos has 275 billion.

lagcity:

230 billa? wow, even Lagos has 275 billion.

u see all those project fashola was doing and still is,most of the money are not from Lagos state treasury.He borrowed a lot and still borrowing

i dont think T.A. my governor knows about the posibility of borrowin from bond market, else he wuld hav plunged us into heavy depth! Ignorance is bliss.

ujchief:

i dont think T.A. my governor knows about the posibility of borrowin from bond market, else he wuld hav plunged us into heavy depth! Ignorance is bliss.

May God never open his eyes in that direction.

Why is Ogun not on the list? Plus i think Niger issued additional bonds sometime in 2010.

As for what they have been or are using it for, you need not ask further; embazlement.

It is a way of getting the money in bulk for onward siphoning.

If not for the guaranteed repayment, no one would have been investing in the debt securities of the states.

Rivers and Lagos in my opinion are the only states that has little to show for those debts.

ujchief:

i dont think T.A. my governor knows about the posibility of borrowin from bond market, else he wuld hav plunged us into heavy depth! Ignorance is bliss.

Wait and see. Toward the end of his second tenure, he,ll defntly come on with an idea in that direction.
Some of them take it to make financial life hard for their successors.
The lack of accountability on the part of political office holders makes it all possible.
+who is T. A

@day 11

LOOOOOOOOOOOOOk the governors are going round not have large money to loot as they only getting monthly allocations from Federal government by going to the money markets to borrow large sum of money. Looooooooook, who is auditing the state account, don't let then fooooooooooool you, all state house assembly are the governors pockets. They will enslave you as their forefathers did you about 200 years ago. If the army comes back noting will happen. All these thieves will just short-up and jump unto their jet and run away. The army were not stealing stationery monies during their time. I heard one governor from Jigawa state stole stationery money. How low it can be. I use to hear politicians taking 10% kick backs, at the moment they are taking 100% of project allocations they are turning their guns of EFCC at the moment with the same Governor of Rivers state leading the pack. People like me have a choice most Nigerians have none. Shine your eyes! Only God almighty knows how much the River state governor have stolen so far!!!!!!!!!!!!
Why is he scared. Scared of OBJ of cause.

Father the oil you gave to us is setting us back, kindly remove it so we may reason properly & move forward.