₦airaland Forum

This meant the Lagos State Government was basically agreeing to be on the hook in case of default for a N50 billion bond programme the Visionscape Group through its SPV was set to issue.

A letter from the State Government seen by BusinessDay which was dated 20th April 2017, signed by the Director of Treasury operations and Permanent Secretary/Accountant General of Lagos State and addressed to Municipality Waste Management Contractors Limited, said:

“Pursuant to the Lagos State Executive Council Resolution (Ref. No.SSG/CO/S.126/VOL.XVI/60) passed on the Provision of a Guarantee for the above mentioned contract, and following the execution of State wide Residential and General Waste Collection Agreement between Visionscape Sanitation Solutions Limited, and the Lagos State Government, and under which Agreement the LASG is required to issue to the Contractor a guarantee, I am directed to convey the approval for an Irrevocable Standing Payment Order (ISPO) in respect of the above referenced Contract Agreement.”

The letter goes on to read : “Consequent upon the above, this office would implement the monthly remittance of the gross sum of Seven Hundred and Thirteen Million, Seven Hundred Thousand Naira Only (NGN713,700,000) as a first line charge from the revenue account of Lagos State Government which is to commence in June 2017 and terminate in June 2027.”

The consequence of this is that in a 1 year period the state would spend N8.56 billion as guarantees for the bond and be on the hook for about N85 billion over the 10 year timeline on just this one transaction.


https://nigeriancurrent.com/2018/03/15/inside-the-lagos-visionscape-deal-that-costs-taxpayers-up-to-n85bn/

New Lagos Governor Ambode Incompetent - The Economist


Safety concerns are mounting as armed robbers pillage stuck cars while police are far away. Security experts reckon this is symptomatic of a broader increase in organised crime under a new and less competent state government.

Lagos is a hub for investors in Africa—it is a bigger economy in its own right than most countries on the continent, so this is of serious concern. The state’s former governor, Babatunde Fashola, who left office after elections in March, was lauded for improving traffic and security. He curbed dangerous motorbike taxis and brought local “area boys” (street children), under control. Cars were terrified into order by a state traffic agency, LASTMA, whose bribe-hungry officers flagged down offending drivers.

His successor, Akinwunmi Ambode, is full of excuses, but few solutions, for the worsening gridlock. Traffic is always bad during the rains, he says. Nigerians are migrating to Lagos en masse in search of work in a worsening economy, his office adds. Yet the root of the problem is in policy: Mr Ambode cut the powers of traffic controllers by banning them from impounding cars. In retaliation, officers have refused to enforce the rules.


Reform in a culture riddled with corruption is never easy. Mr Ambode’s office says the measure was intended to create a more “civil society”. Less fastidious types think it amounts to weakness, and would prefer that he focused on public transport instead. The biggest concern is that the gridlock is a sign of a breakdown in relations between security forces, government agencies and the new governor. If that is the case, there could be worse to come. That is bad news not only for Lagosians, but all Nigerians too.


http://www.economist.com/news/middle-east-and-africa/21677665-why-nigerias-largest-city-even-less-navigable-usual-paralysed?fsrc=scn%2Ftw%2Fte%2Fpe%2Fed%2Fparalysed

Ejehjoe:
From all indications, Ambode was NOT carrying them along. Such a massive rejection of a sitting Governor indicates bad leadership.
Ambode confessed that he had no problems with Tinubu. So nobody should blame Tinubu.
If you are leading and nobody follows, you are simply taking a WALK...
His office, let another take.. chikena

AZeD1:
The day Ambode decamps, is the day he's impeached.


No Ambode is disliked for his incompetence. Find anyone you know who stays in Ikorodu or visits Ikorodu regularly and asks about the roads there.

Ikorodu is the largest LGA in Lagos population wise and Ambode has done nothing there.

Take your time and see if you can find anything Ambode has done in Ikorodu.

lexy2014:
These are ur exact words:

"Ambode is not a technocrat and never was, he was a an accountant."

If u knew it wasn't worth arguing about, then y did u bring up? Its not my argument. It is ur argument. One which u started but u are running away from it like a dog with its tail in between its legs cos u have been asked 2 defend what u said. Am not interested in whether ambode failed or succeeded. I wasn't into that line of discussion in d first place. If u have grudge with ambode, thats not my problem. So pls defend ur statement u made

Obeseke:
Why would they run a service for an aspirant whose fate is yet to be decided by party members and even the King Maker himself, our very own Jagaban. It is in no one's interest using propaganda at all times just to skew things in your favour. Pls, be wise and stop this immature postings everywhere even if you are hired so to do

seguno2:
Mr. Cambridge, is Fashola a technocrat

seguno2:
How much is Buhari’s budget compared with Jonathan’s
What have the people felt except hunger and poverty despite the trillions and trillions in budget?
The stealing and corruption under Buhari and APC is unprecedented in our country.

Fashola's First Term. Ambode Is Incompetent. Reasons And PICS.


https://www.nairaland.com/4734320/fasholas-first-term-ambode-incompetent

AZeD1:
A technocrat is a scientist, engineer, or other expert who is one of a group of similar people who have political power as well as technical knowledge.

Definition from Cambridge Dictionary.


So is Ambode a Technocrat?

Eaa247:
I don't like quoting ppl especially on nairaland because this forum has bcom so bastardised with childish utterances and behaviours.
I am tempted to quote u and state my observation. Y can't u make ur points without being personal and insulting?
A guy above asked u who is a technocrat nd u dd answer.
Being technocrate has nothing to do with ones course of study at d university.
Here is the simple definition of the term:
'technical expert, especially one in a managerial or administrative position'
Little most matured guys that I know hardly comment on nairaland

New Lagos Governor Ambode Incompetent - The Economist


Safety concerns are mounting as armed robbers pillage stuck cars while police are far away. Security experts reckon this is symptomatic of a broader increase in organised crime under a new and less competent state government.

Lagos is a hub for investors in Africa—it is a bigger economy in its own right than most countries on the continent, so this is of serious concern. The state’s former governor, Babatunde Fashola, who left office after elections in March, was lauded for improving traffic and security. He curbed dangerous motorbike taxis and brought local “area boys” (street children), under control. Cars were terrified into order by a state traffic agency, LASTMA, whose bribe-hungry officers flagged down offending drivers.

His successor, Akinwunmi Ambode, is full of excuses, but few solutions, for the worsening gridlock. Traffic is always bad during the rains, he says. Nigerians are migrating to Lagos en masse in search of work in a worsening economy, his office adds. Yet the root of the problem is in policy: Mr Ambode cut the powers of traffic controllers by banning them from impounding cars. In retaliation, officers have refused to enforce the rules.


Reform in a culture riddled with corruption is never easy. Mr Ambode’s office says the measure was intended to create a more “civil society”. Less fastidious types think it amounts to weakness, and would prefer that he focused on public transport instead. The biggest concern is that the gridlock is a sign of a breakdown in relations between security forces, government agencies and the new governor. If that is the case, there could be worse to come. That is bad news not only for Lagosians, but all Nigerians too.


http://www.economist.com/news/middle-east-and-africa/21677665-why-nigerias-largest-city-even-less-navigable-usual-paralysed?fsrc=scn%2Ftw%2Fte%2Fpe%2Fed%2Fparalysed

lexy2014:
is that y he isn't a technocrat?

lexy2014:
I didn't say u are wrong. Am asking u 2 tell me y u say ambode isn't a technocrat. Maybe there's something u no about d meaning of technocrat that we don't no

This meant the Lagos State Government was basically agreeing to be on the hook in case of default for a N50 billion bond programme the Visionscape Group through its SPV was set to issue.

A letter from the State Government seen by BusinessDay which was dated 20th April 2017, signed by the Director of Treasury operations and Permanent Secretary/Accountant General of Lagos State and addressed to Municipality Waste Management Contractors Limited, said:

“Pursuant to the Lagos State Executive Council Resolution (Ref. No.SSG/CO/S.126/VOL.XVI/60) passed on the Provision of a Guarantee for the above mentioned contract, and following the execution of State wide Residential and General Waste Collection Agreement between Visionscape Sanitation Solutions Limited, and the Lagos State Government, and under which Agreement the LASG is required to issue to the Contractor a guarantee, I am directed to convey the approval for an Irrevocable Standing Payment Order (ISPO) in respect of the above referenced Contract Agreement.”

The letter goes on to read : “Consequent upon the above, this office would implement the monthly remittance of the gross sum of Seven Hundred and Thirteen Million, Seven Hundred Thousand Naira Only (NGN713,700,000) as a first line charge from the revenue account of Lagos State Government which is to commence in June 2017 and terminate in June 2027.”

The consequence of this is that in a 1 year period the state would spend N8.56 billion as guarantees for the bond and be on the hook for about N85 billion over the 10 year timeline on just this one transaction.


https://nigeriancurrent.com/2018/03/15/inside-the-lagos-visionscape-deal-that-costs-taxpayers-up-to-n85bn/

BusinessDay had numerous interviews for this story with analysts and market operators who preferred to speak anonymously although the common thread was that the State government should have been careful especially in dismantling the former waste management agreements and in appointing a new firm to oversee Waste collection in the state.



It is understandable many chose to speak annonymously as Lagos State remains a lucrative partner to do business with.

Take the five firms which brought the N27 billion Visionscape bond to market last year led by lead issuing house and arranger Eczellon Capital.

They earned N967 million in total from the deal or 3.85 percent of issue size, according to data from the information memorandum.


BusinessDay digging into the ownership structure of Visionscape shows that ABC Sanitations Solutions Limited accounts for a 15 percent stake in the Visionscape SPV and is in a strategic partnership with CSH Environmental.

CSH environmental is a UK based company that is a family owned British waste disposal business.

On the board of Visionscape is a Nigerian Niyi Makanjuola a founding director of Caverton Offshore Support Group, information from the company website shows.


https://nigeriancurrent.com/2018/03/15/inside-the-lagos-visionscape-deal-that-costs-taxpayers-up-to-n85bn/

lexy2014:
Aaah...na wa oh. OK. So how does being an accountant disqualify ambode from being a technocrat? Put another way, y do u say ambode isn't a technocrat?

WritePal:
And without the bloated IGR in Lagos to play with , how's the 'superman' performing with Nepa now?

WritePal:
Typically, weak minds flow with 'popular' opinion. They hear what people say and wear that view as their. Great minds always ask "Why" and are never afraid to be a lone voice as long as it's truth. Working in the civil service can be a dangerous thing. You may start losing your independent mind and just flowing with the tide.

WritePal:
Really?? Please define 'technocrat.' I guess a lawyer like Fashola is one, but an accountant isn't. Lol. What then really does the word mean, or people just throw it around to sound important? Lol again.

WritePal:
Yes, Ambode decided to chart his own path and not be subjected to the whims and caprices of the so-called state leaders like Banire and Fashola. After all, he's an elected exec governor, not their boy, and deserves his own respect too.

Yes, Ambode is not perfect, but neutrals know he's sincere, broad-minded (can't really say so of Fashola) and focused on his own vision (not Banire's or Fashola's unsolicited blueprint).

But you know the real issues why all the sudden noise about Sanwo-Olu (a man from the 'system' according to Banire)? It's the PSP. operators. They are actually not private enterpreneurs. They are members of the Mandate Group Fashola compensated with a regular flow of massive income through the PSP-Lawma arrangement.

So when Ambode decided to modernize waste mgt as it's done in Western country (He didn't get it right initially, but would eventually after all the teething problems), they revolted. How can Ambode remove their source of monthly multi million income generation?

Forget all the yadayada about potholes, bridge and blah, blah. They are all smokescreen. The real issues are the PSP operators who are the APC delegate/foot soldiers and members of the Mandate Group (some of them are here on Nairaland. I suspect deomelo is one).

They've got assurance from Sanwo-Olu that he will restore back their honey pot and continue with Fashola's policies. And Tinubu doesn't want to go against them as they're his subjects he relies on to continue his political relevance in Lagos.

THIS IS THE SUMMARY. DON'T BE CARRIED AWAY BY SMOKE.

lexy2014:
then is d position of technocrat ambode under threat?

Johnnyessence:
your party Apc robbed us of our mandate, you still have the guts to be mocking us too. good luck Jonathan make the mistake of releasing the power to Apc. what i know is that what goes around comes around. we will see at the end of the day.

Johnnyessence:
Adeleke contested the election against Nigeria army, police, inec, buhari and tinubu, they said PDP is a dead party but afraid to conduct free and fair election.

Johnnyessence:
oloriburuku that doesn't know what is talking about will be shouting ipob this, ipob that. the name of ipob will kill you one day. igbeyin olote Ati Ole kokin daaaaa. igbeyin buburu ni won Mani. won kokin ridi joko.

MajorJeffery:
Saraki will bring back Nigeria's pride if elected but he won't make it because some Nigerians are dumb to see the need. Well, it's not my business who they vote for once I can continue to quietly use MM Airport in peace whenever I need to.

Johnnyessence:
clueless hyprocrite, show me the evidence, even core Apc members and leaders know that distinguished senator Ademola Adeleke was robbed of his mandate. it will surely stand the test of time. the will of the people will prevail. our democracy will be restored back. if not that you are hyprocrite, what is stopping you from Showing me the evidence in ede. I could remember wale alabi blowing his propaganda on that. kindly show me and let us see.

OfficialAPCNig:
Why wouldn't you support your allah? You pray to him 5 times everyday.

WritePal:
Can we for once be brutally honest with ourselves?

Why are so-called APC supporters here like you typically dye-in-wool tribalists and xenophobes? There's a lot to lecture your likes but maybe in new thread. For now, let's do just a quick summary.

1. Technically - in the real sense of the term - APC is not a national party. It is 2 regional, ethnocentric parties in a marriage of convenience. ACN (SW) and CPC (North). Don't bother mentioning Okorocha. He's delusional dream of being VP will make him claim any thing non-existent.

2. The South West voting pattern is basically based on sentiments. Just tell the people, this party is 'Tinwa-tinwa' Afenifere, the new AG or UPN, and that's all. Who's fielded doesn't matter. They'll vote in block.

3. Tinubu perfectly understands that unique dynamic in the SW's voting pattern and exploited it when teaming with Buhari in 2015. The result today is a deeply divided country with the North (CPC) and SW (ACN) on one side and the rest of the country on the other divide.

4. I said earlier that if subjected to forensic analysis, APC is not a national party. It's 2 regional parties fused into one to establish a hegemony over the rest of the country and subtly relegate them to 2nd citizens in their own country. I blame the constitution. But that's a matter for another day.

5. Unlike the SW, SE and SS don't do block votes and they don't vote on sentiments. Otherwise, APGA would be controlling more than just Anambra State. Some say PDP is a regional party. Laughable. What hypocrisy! 2 regional parties wearing a mask of a national party pushed it into 2 regions that won't accept an arrangement they were excluded from the outset. PDP had no regional foundation and had prominent leaders like Obj, Ekwueme, Solomon Lar and Ciroma. Truly national. Those are the kinds of parties the SE and SS vote for, not APGA or any regional parties like ACN.

There are a lot to dissect, but let me stop for now. Oya, deomelo, cross out and go on your usual tribalistic drivels and rants of Ipob.
It's the past time of your fellow journeymen like ngenewhatever and cilicmachine. Lol

Ahead of Saturday’s direct primaries of the All Progressives Congress in Lagos State, members of the Association of Waste Managers of Nigeria, popularly called PSP operators, on Thursday embarked on what they called a ‘free-waste-collection’ rally on major roads in the state in support of a governorship aspirant, Mr Babajide Sanwo-Olu.

The rally came about a week after the PSP operators at a press conference declared their support for Sanwo-Olu, who had declared his intention to take over from the incumbent governor, Akinwunmi Ambode.



The PSP operators adorned their waste collection trucks with banners and campaign posters of Sanwo-Olu, while some of them also were decked in vests and fez caps bearing the aspirant’s photograph.

During the rally, which reportedly took place simultaneously in different parts of the state, the association members packed waste dumped on major roads.

Speaking in Alimosho, the Chairman of the association, Alhaji Ola Egbeyemi, said the PSP operators were convinced that Sanwo-Olu, if elected to replace Ambode, would restore Lagos to its former clean state and also restore the jobs of the 25,000 workers engaged by the association members.

Egbeyemi said, “We are very sure that if all the votes of the masses are given to Mr Babajide Sanwo-Olu, Lagos is going to reclaim its past glory; that is the purpose of this support rally.

“We have declared a day of free refuse packing from the highways so that everybody will know that we can do it.”

Also speaking, the association’s Vice Chairman, Mr David Oriyomi, said the association went political because the earlier waste management arrangement put in place “by our grand patrol, Asiwaju Bola Tinubu, was thwarted through political means. It is therefore imperative that we put it right through political means.”

The association’s spokesman, Mr Olugbenga Adebola, added that the PSP operators were saddened to see their achievement of turning Lagos State into one of the cleanest cities in the world being reversed in the last three years.

He said, “What we are doing today is a free service to drum up support for Mr Babajide Sanwo-Olu.

“As it has been established, through the effort of the PSP operators and the support given by Asiwaju Bola Tinubu, we were able to move Lagos from one of the dirtiest cities in the world to one of the cleanest with a lot of awards and accolades.

“It saddens our heart to see our labour of making Lagos one of the cleanest cities in the world being reversed in the past three years.”


https://punchng.com/psp-operators-collect-waste-for-free-for-sanwo-olu/