₦airaland Forum

aljharem: The level of debts corresponds or make logical sense to the level of infrastructure they have in the state. The same cannot be said of Lagos.

Why do you borrow money? To service your government or to fund infrastructures. I won't waste my time going back and forth with you about projects and infrastructures in Lagos state because I'm sure you see what we post here everyday so you questioned that either because of intentional ignorance or intentional deception and deceit..

If you really are concerned about debts, you should be more concerned about states with little or no means, not Lagos state with more than enough o payback and also with too many things on the ground to show for all the spending..

Enugu is a poor state with meager and one of the smallest state budgets in Nigeria. Their budget is N93 billion while their debt is N66 billion with almost zero means to make payments...

People like you I can not take seriously because there is no truth to your concerns...

Ayekotoo: Wait till he twists and throw the questions back to you. he's called Mr. crayon for nothing

I know that roll very well.....

aljharem: Sorry sir, Who does not complain ? Just because you are part of the upper class in the APC government does not mean ordinary citizens like me like them.

We want them out !

There are at least 36 states with debt on that list so why not pose the same questions to the other states.

Ayekotoo: Ok! they are not responsibilities of the federal government. Are they also not your state government responsibilities? Mr. crayon, you are a disgrace if you can't hold your leaders responsible for your sorry state.

The schemer is playing bait and switch...

anonimi: I would think that an Aide to Fashola, SAN such as you EkoIle aka Aresa would know that ALL that I listed are NOT constitutional responsibilities of the federal government.
Perhaps I rated you higher than you deserve

We have ministry of water resources

We have federal roads

We have federal hospitals

We have federal public schools

All the above have yearly budgets and are federal responsibilities..


Again, What part of the things you listed your own state and federal government provided with their huge debt ?

While you are at it, tell us what your own state did with their huge budget..

ProfCorruption: it seems you have realized your state is equally indebted hence you parried the question.

If you can do a comparative analysis for all states: Debt to GDP ratio, IGR, Budget Performance History etc, I would take you seriously. But throwing figures around, as you have done, exposed you as a certified fool trying to put on a garb of a wise lad. But a fool will still be a fool.

If I said Atouke is indebted to the tune of $1billion dollars, what did that convey? Nothing. But if I stated your salary, assets, your credit history etc, independent observers would be able to decide if yours was irresponsible or otherwise. In other words, it's not just the amount but the overall picture that matters.

This level of logic and intelligent reasoning is way way above their shallow and illiterate mentality. They are too basic and pedestrian to formulate any form of intelligent reasoning..

anonimi: Progress that excludes addressing BASIC states' constitutional RESPONSIBILITY such as-

- TAP water.
- PUBLIC schools for all our children.
- FEEDER/INNER roads.
- General hospitals & primary health care clinics.

can only be aptly described as STAGNATION at best or RETROGRESSION in reality

What part of the things you listed your own state and federal government provided with their huge debt ?

Fashola4thSon: My south west leaders has kill us.

Let us beg IGBO for mercy!!!

Hiding behind tribal IDs to spew tribal rubbish is played out, it's boring, it's for the birds so find something better to do with your sorry life...

The OP is serious olodo sha...smh

Atouke: whats left is the huge debt my borrowing governors have plunged my generation unborn into.

Fixed...

Atouke: Are you from the debt Affected states?

Is your state on the list you posted or not?

Atouke: Stop leaving in denial, I take it that you are from one of the five debt affected state, The issue is whats your strategy to repay the loan? N8,480 per person no be joke o. and that does not include interest on the loan.

tell us how you and your family are going to get out from under such huge debt.

Am doing you a favour by doing the calculations for you for judging from your statement you obviously do not know how to calculate.

Math failed you

English failed you

What's left?

ProfCorruption: The OP is advertising his or her ignorance. You can't talk of liabilities without assets. Borrowing is a language of business and as wealthy as Dangote is, he still borrows till tomorrow. Debt is not the issue but what's done with the money and overall sustainability of the state finances.
1.What is the percentage of debt to overall GDPs in those states? It's just like saying Nigeria owes $10b. It doesn't tell much. But you would appreciate the gist when told the GDP of Nigeria was $510b. Suddenly you realized as huge as $10b appeared, it was actually not a cause for alarm. The debt to GDP ratio in these states should be ridiculously low. The debts, in my opinion, are quite serviceable.
2.Serviceable or otherwise, what are the loans meant for? Are they borrowing to finance recurrent expenditures? Answer is NO (that would be irresponsible anyway). Borrowing to finance key capital projects is actually a wise thing to do. And a state like Lagos is a model for others. Borrow to build roads, collect tolls to pay part of loans back. While the IGR is invested in another developmental projects. The idea is "growth will pay the loans".

Very well stated. To bad we have too many illiterates and low mentality people like this Mr 45% with Nigeria attached to their names..

[s]

Atouke: Why are you attacking persons instead of the debt issue, I take it that you are from one of the five debt affected state, The issue is whats your strategy to repay the loan? N8,480 per person no be joke o. and that does not include interest on the loan.

tell us how you and your family are going to get out from under such huge debt.

[/s]


The question was what is Lagos state owing Anambra. Please go away if you don't have any answer for me..

[s]

atlwireles: I will not give a poor janjaw**eed like you the chance to derail this thread. Like I said, your lies are playing tricks on you.

[/s]


I get this from your type every time you get busted...

Donmarrius: And you forgot your sw is owing Anambra?

What are they owing Anambra?

atlwireles: ....................

Great idea. I have no problem with you shutting your ignorant mouth.

atlwireles: I truly don't have time for your lies. When Obj left office in 2006 Nigeria's external debt was $3.5B. You seem so well educated, yet, your lies are playing tricks on you.

http://www.dmo.gov.ng/oci/edebtstock/docs/External%20Debt%20Stock%20as%20at%2031st%20December,%202006.pdf

And the rubbish you posted was for what reason? That the PDP and GEJ are not responsible for $57.030 billion or not sinking us into more debt hole?


Please stop the ignorant and ridiculous nonsense abeg..

[s]

Atouke: SW states are killing their generation unborn with debt. This is not to bash the region but for real their governors are taking them for a ride.
Its just plain injustice to borrow/owe such ungodly debt.

[/s]


Keep quiet with your dumb and unintelligent rubbish...

ujoinme: Oh SW governors! please stop borrowing and squandering/mortgaging the future of your unborn children in the name of foreign debt that goes to your foreign accounts.

Where is the largest state budget in West Africa and N60 billion worth of Akwa Ibom debt? A few roads in Uyo, scores of uncompleted projects private jet, 4 luxury benz trucks, money for luxury gifts for celebrities and private Dubai wedding for dozes, free awoof dash dash on Abuja Hotel and confiscation in the US...

Who is going to pay all that debt? Poor people of Akwa Ibom right?

atlwireles: The states have borrowed more monies in the last 4 years than the federal government. When GEJ became president the National external debt was $4.5B in 2010. The federal government issued Euro bonds for about $1.5B and received another $1.1B concessionaire loans from China. Most of those monies are currently used for both the Airport and railways reconstruction projects. The other $3.5B are states loans, from Lagos metro project to Rivers City water project etc. The federal government can pretty account for its loans, the problem are the states.

Nonsense....

We know OBJ washed away at least our external debt before he left, but under the same GEJ/PDP...

A break-down of the rising debt profile showed that Federal Government's external and domestic debts amounted to N8.8 trillion or $57.030 billion as at the end of June 2014


http://allafrica.com/stories/201408200348.html

Total state's debt both internal and external remains at around $13 billion while FG's external and internal total is $57 billion


Get educated and quit peddling rubbish...

[s]

owobokiri: What do you expect from the same clan that introduced the culture of spraying crispy notes on musicians at ceremonies then went ahead to start the practice of organising burial ceremonies for relatives who died centuries ago, just because a living relative just "hammered"? The same bunch that invented the ultra "sophisticated' harbit of looting the treasury to buy up real estates in London. The same group that will throw an owambe for child naming ceremony, car washing ceremony, promotion ceremony, London visa ceremony, house opening ceremony etc and have major streets blocked just to dance and jolly. Our dear fun lovi.g rethrens from the sw. . The nemesis of NITEL, NEPA, NIGERIAN AIRWAYS, NIGERIAN SHIPPING LINE, etc? Put succintly; it is an ostantious culture that can only be financed through acute kleptomania.

[/s]


The thread is not a platform for you to show us how bigoted and unintelligent you are...

omongbatic: Minus your debt from your credit, then all SW states = zero growth.

Where even is the evidence of what the money is used for?

This is definitely the dumbest and the most ignorant post in this thread..

oneeast2: See what Tinibu has done to SW..

Tinubu spent N66 billion worth of Enugu's debt, Eboyin's N43 billion debt or Anambra's N41 billion debt too?


Losers...

atlwireles: So, $81B of $509B national GDP is 35%

40% of Nigeria's non oil GDP is from where? That's the question and the Answer is LAGOS STATE.

johnmartus: oponu does tinubu governs any state in the southwest? or why are you obsesse about tinubu are you blind you do not know what is going on in the southwest note that development you and l witness today in the southwest was not done by stone tell me a single project that Jonathan administration has executed in the southwest no state can competence southwest state among the dessert ibo state except imo state with all the federal government attention in southeastern southwest still her head of others region in Nigeria you better change your cunning attitude

Tinubu is who they see in their sleep, who they eat and breath. In fact, Tinubu is responsible for their miserable and sorry existence...

atlwireles: Where did you get that lie?

The state’s GDP figures released in September 2012 provide some interesting insights into the Lagos economy. The state has a GDP figure put in excess of N12 trillion or $81 billion as of 2010. Its economic size is about 35.6 percent of Nigeria’s 2010 GDP but a significant 62.3 percent of Nigeria’s non-oil GDP.

http://businessdayonline.com/2013/04/examining-lagos-state-gdp-figures/#.U_ebPfldWVY

Get educated for your own good...

ujoinme: chei! borrow borrow go kill south west o.

When was the last time your evil wishes stopped us from starting and commissioning projects while your village governor with his largest budget in West Africa still steeped you in almost N50 billion debt with nothing but a few roads to show for it...?

Abeg keep quiet joo...

edogirl2: Well, together these states are responsible for about 40% of the country's non-oil GDP. So why is the Op surprised that they have a similar ratio of the debt.


This is like someone saying Nigeria is responsible for 60% of total national debts among West Africa countries. Well, where is the 'news' in that statement.

Are you minding the the ignorant losers...lol.

We do expect unintelligent posts from unintelligent people so this dumb and idiotic thread is expected...

Fashola4thSon: My South west people are all in danger

We are death

You created a bogus account today just to post this dumb trash? ...

ujoinme: Oh my goodness Op I thought you were joking i went to the DMO website to confirm you calculation and its on point. We need to scream this to the roof tops least the south west will borrow the county to death o !
How can just 5 states out borrow 36 state at the rate they are going if not checked next year they will account for 75% of the entire external debt. Chei!

What's Akwa Ibom doing with almost N50 billion debt even though they are the richest state in Nigeria?

Don't tell me, I know. Just a few roads in Uyo and a bunch of uncompleted projects...

What exactly did Enugu did with N66 billion?


Not a single classroom

Not a single hospital


Nothing.