₦airaland Forum

chymystique:
There is no vacancy in aso rock for GMB! He should go and rest cause he cant carry Nigeria on his frail shoulders .. imagine resting after campaign? Na so him go rule us?? Being the president of Nigeria NOW aint the same as Head of State then.

Its GEJ for president baby

LRNZH:
No way. If the Gov't (state or FG) default on their debts be it domesti or external, the consequences to the economy are dire so it does not matter. 14% cannot be of more concern than 76% unless you want to play PDP's contorted game of numbers where small is > big i they want to rig (eg NGF elections, impeachments etc)

LRNZH:
I totally disgree with you. Your dishonesty is coming to play here and I will reserve the right to respond to you in the future if I sense insincerity.
How can you take 14% of an issue (external out of total national debt) and use that to judge the health of Lagos vs FG debts?

Desist from that please.

Trut:
WHO IS FOOLING WHO

STUPIDITY is when you go to London to campaign for people without PVC.

MUMU is when you go to London and failed to come back with the acclaimed Cambridge certificate.

MUGU is when you did not go to school and forged a certificate and come online to say Sai Buhari.

FOOLISHNESS is when you have been shouting "Up NEPA!!!'' since you were born but expects GEJ to become a magician within 4 years.

AKPOS is when you read day and night to get a certificate and still want a semi-illiterate to rule you.

419 is when Buhari said he borrowed 27 million naira for presidential form but Buhari's wife donate drugs worth 135 million naira to displaced persons in Yola.

DON'T BE DECEIVED!!! THINK TWICE BEFORE
YOU VOTE.

GEJ is the MAN

aresa:

LRNZH:
You are focusing on external debts to make Lagos State look bad. I am.telling you that external debts don't tell the complete story at all.
1. External debts of Nigeria is just ~14% of our national debt. Use Lagos states total debt as a percentage of national debts and you will get ~3% which is nothing compared to your touted 18%.
2. Lagos debt portfolio is more loaded with external than domestic debts because states don't sell bonds etc etc.
But Lagos debt profile is healthy and work is on ground to justify it.

aresa:
What's the crazy obsession with NL trolls and this abandoned building....? Jobless TanNoids..

LRNZH:
But you are showing misleading information. Kindly show us Lagos States debt of $2.2Billion as a percentage of national debt (almost $70Billion) and show FG's percentage (between 77% and 85%) as well. Let's approach the matter using the right analysis.

The Lagos.light rail and the associated Badagry expressway has made more progress than the much touted FG railways and road network refurbishment.

Lest we derail the thread, Nigerias debt profile is huge, especially with nothing to show for it. A large chunk (approx. 80%)of it as I have shown you is from the FG.

Firefire:
The data below represents some selected states external debt profile with Lagos state having the highest debt among all states of the federation with 18% in relation with that of the FG, while FG has 66% over the entire external debt profile of the country.

Why is Lagos State amassing loans considering the Huge IGR, and the allocation from the federation account

LRNZH:
I see that now. Even going by DMO numbers $54Billion in December or close to $60Billion owed by the FG today is alarming. I don't even want to go into the issue of DMO being involved in some 'doctoring numbers' controversy.

Lagos state is taking on projects that are almost at FG scale. Think the Badagry Light Rail, The Lekki Ikoyi Link Bridge, Lastma, Lawma, and the Free Trade Zone. No other state can boast of such project portfolio. Rivers and Kano are other states trying to make much in terms of real projects. I'm not too sure of Akwa Ibom.

Even the FG has notbyaken on similar projects like Lagos.
FG accrual from Nigeria's earning is 54%. Why does the FG owe 77% of all national debt?

Again check Lagos state annual accruals versus its debts and you will stop worrying. Ot is like saying Japan which has a higher debt than Bangladesh should be more worried.

Firefire:
Lagos State, had internally generated revenues of N384.25 billion, equivalent to 76.9 percent of its 2013 budget of N499.10 billion.

Lagos State also collect monthly 26.72% from the federation account, what happens to the allocation if Lagos already generated 77% through IGR?

Lagos State under Fashola raised Several Bonds and collected massive loans.

N50 billion bonds was raised in 2009

N87.5 billion bond under the Lagos State fixed rate bond (series 2), to execute the on-going construction of the blue line light rail project from Okokomaiko to Marina and expansion of the Lagos Badagry Expressway into 10 lanes

160 Billion Naira Loan from World Bank on same Line rail project?

The future of Lagos state is mortgaged till 2020 by ACN turned APC.

LRNZH:
How did you work out FG external debt of $6.4Billion?
Your chart does not show states' external debts as well so I am wondering how you worked that out....check working again

On a side note about the garri comment between $10 and $20Billion is missing in NNPC (this is the case until the PwC report is made public), and you GEJites don't see anything wrong with it.

LRNZH:
So DMO puts total National debt at $67Billion as at December 31, 2013. I stated $70Billion if you project to end of February 2015 and add the Naira component you would approximate $70Billion.

More importantly, your capture unfortunately does not show breakdown by FG and by States+FCT for total debt (external + domestic).
What you should look for is FG debt only (external +domestic). That is where the about $60Billion will show up.

edit: you can see that my data is accurate. FireFire, if you really put brain before emotions, you wont be in the GEJite camp. I wish you reason through this and come to an informed decision. The Progressive in you is looking for room to express itself.

LRNZH:
Out of the $70Billion National debt, the 36 States and FCT owe about $11Billion of which about $2Billion is for Lagos State. Mind you this is both external and domestic debt.

So almost $60Billion (~85%) of this is owed by the FG while Lagos State owes less than 1% of the Nigeria's total debt. Remember, Lagos is a very viable state that it can owe up to $5Billion and still be credit worthy.

egift:
[s]5 years of Cluess Leadership + 6 weeks of Drama and Acting = Jonathan's Presidency

If he likes, he can jog to Otueke. Nobody will fall for this cheap drama. We want Change. Sai Buhari.[/s][s][/s]

justhelp:
these are my advice to you .


It just a pity that some people some where does not want Nigeria to move forward, its a simple fact that Gej happen to be our president by mistake and his destiny, he did not have the leadership skills and attributes to be our President not even the vice president, that is why he could not command respect in his own cabinet, when he talk they will not take him serious or how can you explain the immigration employment scam on GEJ he even as them to return the money they refuse, almost all his minister are corrupt cos they feel his also corrupt no one took him serious, now they are begging Nigeria youth to apply for the same immigration exercise they duped us.

If you are a youth of this great country and you really want to live a meaningful life no one will tell you not to vote GEJ i mean your school of thought must have, if you dont want your unborn child to go through the hardship you are going through no one will tell you to vote out GEJ your instinct must have, if you really know that change is inevitable and it is possible we can achieve it, this is the right time for you to fight for what is just and right.

I did not collect a dime from any political party, but come to think of something, when do you think we the people of Nigeria will benefit from democracy ? our govt teacher told us that when the ruling party has strong opposition they will forced to work or else they will loose next election then they we also become opposition, the new ruling party have no choice than to deliver. they will be exposing their weaknesses and corrupt acts, until these happens the people will never benefit from Democracy.

God really want to answer our prayer and wants to deliver us from PDP that is why He gave us GEJ knowing that he will make the party weaker and allow opposition to gain ground, this wouldn't have possible if we have more intelligent president like OBJ, this is the first time in the history of Nigeria democracy when the ruling party do not election to hold because they will loose with a wide margin, so God Loves us all in this country but some of these youth are blind to see the positive side of this Change, even if APC fail the new opposition party campaign against them then we vote them out again before you know it one of them will fixed our power problem or refineries, we cant just continue like this and pretend as if things are okay.
GEJ has failed, he knows that that is why his is looking for ways to right his wrong at this injury time, but sorry Nigerians minds are made up, they want Change because change is constant.

Firefire:
Fellow Nigerians,

Jonathan's performance is below the high expectations of we Nigerians.

Jonathan is not proactive on the matter of security as expected.

However, Jonathan performance is on records.

- He promised free and fair election, this is already achieved. Ondo, Edo, Ekiti, Osun as evidence.

- Massive investment in power sector with full deregulation.

- Massive investment on military hardware, the first of its kind since 1960.

- Robust Economic policies,

- Massive infrastructure development, Road, Airport, Rail lines etc

- Freedom of speech, signing the FOI bill into law.

- Playing politics without bitterness

And many more developmental projects you can see if you leave bigotry.

Jonathan is the best to have happened to Nigeria at the moment.

We need 'CHANGE' but mohamod buhari is not the change.

APC missed the track in allowing a formal coup plotter as her Presidential candidate.

Nigerians, vote for continuity, vote Goodluck Ebele Azikiwe Jonathan.

God bless you.

God bless Nairaland

God bless the Federal Republic of Nigeria.

Shalom

Firefire!

Reminez:
You are sic.k in the head. Bloody Yoruba wannabe!!!!

justhelp:
how much were you given, i hold my self responsible for any action i take including my vote, so Gej and his party lack manifesto to better the lives of the youth which you know, you are getting illegal money from their party you never think of people and the masses in Nigeria. SHAME ON YOU

luckman20:
Na land i wan buy?

justhelp:
HE IS ALREADY A FOREGONE ONE WE NO LONGER REMEMBER GEJ HERE SO DEAL WITH THAT COS HE HAS NOT IMPACT ANY LIVES IN THE SW EXCEPT PDP MEMBER THAT ARE SHARING MONEY, HE DID NOT DO ANYTHING FOR THE MASSES HERE IN YORUBA LAND SO HE IS ALREADY A GONER

edogirl2:
I normally get the 4.5GB. Dont need 12GB per month.

It's actually 12GB (not 10GB as I indicated) for N5000!

barcanista:
God bless Firefire

edogirl2:
GLO 10GB = 5,000NGN (Monthly). Exceptional value