₦airaland Forum

koboko66: Linda lunches 2014 Evougue.

Seun....my wish for u of u stop partisan politics with this section.

Before calling out Seun, you can start by educating yourself about where to post your thread. How did you conclude that this thread belongs in the politics section of Nairaland? Mods, kindly move this thread to the motor, celebrity or Nollywood forum.

Noneroone: By 2020 an Igboman will be governor of Lagos, Rivers and Delta including southeast.


Yea, let blood pressure rise.

Another ill-exposed mumu failing to see what matters. Are Nigerians not even influential politicians in Nations they or their parents migrated to outside Africa? It is humility and the ability to love, respect and embrace the people around you that makes the difference. If this is the case, and as some examples prove already, the Yorubas are probably the ethnic group most prepared to trust power to non-indigenes who have proven themselves.

When you make your attempt to gain power a "chop sand" exponent of ridiculing others and satisfying a feudal and primordial lust to lord it over them, instead of integrating with them so that they trust you and consider you someone who will act in their best interest always, then you are on an exercise in futility and 'bridge burning'.

This is what will continue to fly above the head of those, like you, doomed to work with a "them against us" mentality even in situations where it is obvious such an attitude is destined to ensure you will be viewed as a people to be resisted rather than trusted with power. People like you never see what is obvious. Will you allow an 'enemy within' to lead you or is it that people are more comfortable with foreigners who integrate humbly and patriotically with everything/everyone in their environment to the extent their loyalty and goodwill towards others cannot be questioned?

Given the feudal and pugnacious approach of Igbo behaviour and talk lately, occasioned by the false sense of security and 'ownership' the GEJ Presidency has given them, I say 'goodluck' to you guys after you have now gone public with your hate of Yorubas/Hausas/Fulanis et al which has now shown them you still operate, even decades after the civil war, with the misguided mentality of subjugating others rather than integrating with them.

This historically unresolved bad belle against others is what gave rise to all the "we are 45% of Lagos" plus "we control the economy Lagos" and "Lagos is no man's land" false and feudalistic statements you would never make if you truly respect and appreciate your host.
Instead many of you fully commit yourselves to hating, undermining and opposing your host while speaking in ways that reveal the vengeance in your hearts. Your approach is always anchored around that of a hostile takeover, rather than humble rapprochement and bridge-building, as your silly "blood pressure' utterance illustrate here. Once again, I wish you guys 'goodluck' in your obstinate, vainglorious and futile attempt to do things the most difficult way via alienating everyone and being mindlessly divisive.

shiffynaani: Wo0OooOw,this is the most astonishing write-up since the start of this tussle!!. this will not go down well with my ibo brothers. chaii,bad market

Sadly the hateful and emptily braggart antics of many Igbos in cyberspace under the GEJ Presidency, malevolently and exclusively targeted against the Yorubas who accommodate and host them graciously, has now piqued the awareness of even the most liberal and laid-back Yorubas to the extent many feel it is time to call a spade a spade and tell deluded and mindlessly hateful folks the truth about themselves they deny and try to hide with ridiculous chest-beating which is now being discredited daily. If you are 5 feet tall and keep claiming you are 12 feet tall, in an attempt to ridicule an 'enemy' who is 8 feet tall, then why not extend your arm to grab an apple on a 14 feet tall tree when challenged to do so? Should this not be the easiest thing to do given your claimed height? Why are you begging for a ladder?

Evergreen123: it was tinubu that gave that 42% figure though we igbos think it shd be 45% n above.
And yea, we are trying to be civil, we don't do violence that's why we go through all these processes

What a 'dense' girl. I guess everything stated flew above your head thus your foolishness in once again repeating the "45%" garbage. Just admit you are deluded and now stand disgraced as emptily impotent braggarts and don't give us the "civil" bullcrap. Stop making excuses for your ridiculous lies, driven by inferiority complex, which has now caught up with you horridly and shamefully.

Jonathan has failed NIGERIA. Period.

Evergreen123: See this one.
Igbos own more Lagos propertied than yoruba

Deluded chest-beater. You "own more Lagos properties than Yoruba" are "45% of the population" and "control the Lagos economy" yet you keep begging, pleading and trying to play "'beautiful bride' when you should be firmly in charge of the game? Does that make sense to even a senseless individual like you? When will you tell Igbo politicians in Lagos to grow some balls and walk the walk by presenting themselves for the highest office in the land so you can prove the mythical figure delusional people like you bandy around idiotically?

What would be easier than for an Igbo gubernatorial candidate to emerge and take advantage of the "45% Igbo population" of Lagos? See how the conduct of Igbo leaders reveal the patent stupidity of the "Lagos is no man's land" lie and empty 45% braggadocio now shaming noise-makers like you? Are you guys now not thoroughly discredited and appearing like empty braggart giving how you still kowtow to the Yorubas you tell us you have overtaken population-wise and wealth-wise? When you are 45% of the population, then the Yorubas should be about 25% given the other ethnic groups in Lagos also. Not so? Then why is big-for-nothing 45% (Igbo) pleading for a piece of the action controlled by 25% (Yoruba)? Is politics no longer a game of numbers? is it no longer true that "majority carries the vote"? Shior.

What are they giving conditions for? Do a people who claim to be 45% of the population of Lagos need to do that? Pathetic. Virtually all Igbos on this forum have touted the "Igbo is 45% of Lagos" inanity at one time or the other while insulting Yorubas as "lazy slaves" they have "relegated to the background". Why not then use such strength when it matters most i.e to gain political office? Or is it to just talk the talk while never able to walk the walk? Why tout around your vote as if it is a beautiful bride when you have the "numerical advantage" to carry the day and produce a Lagos Governor and deputy together with your "majority population"?

The Igbos tell us they have the numbers and we all know that politics is a game of numbers. As simple as that. It is not only to drag out the 45% figure when mansion-ownership is the topic of discussion. Nothing will prove this numerical strength more than an Igbo candidate vying for lofty office and enjoying 100% support as GEJ did from the SE. Doing that will produce an Igbo Governor or deputy 100%. The whole pleading, begging and handing out conditions/ultimatums is just shameful and indicative of the self-delusion of some folks. If the Igbos really have the numbers then no need for talk. Back your "Igbos are 45% of Lagos" claim with action. With that kind of numbers Igbos do not need to beg, plead, give conditions or continue to make noise. They should simply take the Governorship with their 45% majority voting bloc.

egift: How can it "flood" Lagos and you no single drop of Poster?

Anyway Buhari/Fashola 2015 - make PDP pee in the middle of the market square

Good combo.

Put in the simplest term, Buhari represents the end of "business as usual". Finito. The AGIPs who have ruined this Country, with the largest number of them to be found in the PDP, love a 'paddy paddy' Government such as that the hideously corrupt GEJ is running. When Buhari himself has no use for materialism or avarice then it is obvious he won't tolerate that in others under him. Would you not do everything to frustrate the success of a man who is coming to take away your free breakfast, lunch and dinner?

barcanista: exactly! Children of bigotry

That is what they are. All nauseatingly steeped in 'herded' and cult-like blind followership.

beopened: You have said it all..........The Nigerian youths( those who think like you opined) indeed are a despicable lot!

If Buhari had stolen like IBB and co.......and like most of today's politicians,it is the same accursed youths that will still call him a thief and a looter

But Buhari is as clean as a whistle yet they are not satisfied,they just want to demonise the man in order to position their clueless choice as the less of 2 evils

No amount of attempt to re-write history by this children of sorrow can obliterate the fact that Gen Muhammadu Buhari belongs to a different class that 10 Generations of PDP members led by GEJ can ever attain

This is their precise agenda and intelligent Nigerians see through it. No manner of character assassination targeted at Buhari can detract from how GEJ is a highly inept and ultra-corrupt President running Nigeria into the ground.

Rawani: Barcanista i was laughing at their unfettered display of ignorance throughout on the other thread. What a waste of bandwidth under the guise of truth-seeking. The benighted numbskulls don't realize all ex-presidents are entitled to pension and several allowances, including N500,000 at the end of each council of state meeting. They are also entitled to periodical replacement of cars and are provided with other perks such as official residences, domestic staff, medicare, annual trip abroad etc as you rightly stated. General Buhari enjoys these perks, in addition to be a member of the Board of Trustees of the APC, which has Governors that bankroll it's activities, aside from numerous donations from supporters.

General Buhari is an accomplished administrator that has led this country with integrity and discipline, and his discreet and humble nature makes it difficult to properly identify his individual investments where present, considering he is the only Nigerian leader that left office without soiling his hands with stolen funds. His stint at the PTF is a testament of his capacity, which is why we support him to be the next President of the federal Republic of Nigeria.

Bro, don't bother explaining anything to these duplicitous charlatans. If Buhari was the quintessential Nigerian politician who looted copiously and used his stash to fund a business empire, spanning the universe, they will be the first to say he is coming back to "steal more" as they do with Atiku and others. Now they want to indict Buhari of a crime, by hook or by crook, because the man is not garishly materialistic and crookedly capitalist as most Nigerian Politicians are. Sad lot these Jonathanians. Always tripping over their own shoelaces.

@Barcanista.

I saw that post but you should know I have no time for Jonathanian stooges and charlatans. Have they held GEJ and even their own directly elected leaders accountable before they are asking what Buhari, with no connection to how they are governed currently, does for a living? It seems you don't understand that these jobless mischief-makers are looking for those they can goad into partaking in their idiocy and 'naked village dance'. Their 'mission' is simple. The longer they talk about Buhari, Tinubu, Mandela, Isha Sesay and just about everyone else but Jonathan, the less we all focus on holding the Government of the day to account for how Nigeria is going downhill fast.

Do you know a non-Nigerian friend was shocked today when I showed him an article where the PDP said it will soon "expose" APC sponsors of Boko Haram. This friend could not believe the impotence of the Nigerian ruling Party and the finger-pointing madness which now represents how things are done in Nigeria !!!!!! It is the equivalent of that senseless 'finger-pointing' deceit these clannish and myopic Jonathanians are engaging in asking what Buhari does for a living. Jonathanians, because many are ethnocentric and religious bigots, are condemned to fiddle while Rome burns.

oilyyariba: Another yolaba fraudster!

Ethnocentric and hateful mumu. If only you spend time developing your knowledge and intellect then perhaps you will not be here ignorantly calling everything and everyone "Yolaba". Stephen Osagiede Oronsaye is from Edo State. Olodo.

nickxtra: Just for the information of Nigerians. Nothing will happen to him because he one of the 'men' after the President's heart

Indeed.

ba7man: "They are J@nj@weeds"

"Tinubu is a drug addict"

"APC is Boko Haram"

And their supporters cheer these childish statements from politicians??..........

Abi ooo. This reveals a lot about Nigerian followership and patent lack of focus.

Yeske2: So this guy is on drugs, I thought as much.

You guys and your 'simpleton' reasoning make me laugh. If a stranger walks up to me and says your father is a paedophile, never mind that he may be a disgruntled element out to malign your family, I should accept his allegation as gospel truth? Nigerians sha. Ikimi is simply a disgruntled and bitter old man. Of course he will say all sorts of thing. It is left to people, perhaps because they hate Tinubu anyway, to believe what is clearly the verbose diatribe of a pained loser. Ikimi should tell us if he was there when Tinubu was ingesting drugs otherwise he should stop this sort of mindless and petty slander that disgraces his advanced age.

@Topic.

Regardless of what anyone says, and taking in the reality of Nigeria, it is clear Aregbesola is one of the top Governors in terms of putting his people first and adopting a welfarist and socialist approach to leadership. This approach will bear fruit in a nation like Nigeria with many needing to be elevated out of poverty. Kudos to Aregbesola. I would personally want Aregbesola to use his second term to aggressively consolidate on his effort to develop the infrastructure of Osun.

Goddex: [size=13pt]Oga, what you see there are "net allocations" Most APC states have plunged their states into huge debts and this eats deeply into their federal allocation monthly.

Those of you being deceived here by Aregbesola and Osundefenders are either ignorant or illiterates. Those guys are fraudsters. They syphone our commonwealth and employ propaganda to lie to us[/size]

What will it take for you guys to ever mind your own business? The return of Jesus? Do you know how frustrated and hateful you appear when you just react malevolently, without thinking, to every single issue to do with SW States? How is Osun's allocation your "commonwealth"? Are you not from the SE? You are not a member of the electorate in Osun State so how is it your "commonwealth" being "siphoned"? No one is fooled you, the tramp Ngozi evergreen-with-envy and others like you have any goodwill towards Osun. Learn to face issues concerning your own State and region and stop behaving like a frustrated vagabond all over the place.

arresa: That's according to the man in charge of FG's budget office and GEJ appointee..


He said in the case of Lagos, he says evidence abounds as to what it is using the money for

So, what more do you need...?


And if you need more justification and where the money went, look in the thread below...

https://www.nairaland.com/1894158/lagos-state-pride-south-west

We do not even need his position per se. Lagos, for those who have inquisitive and probing minds, is a joy in terms of the information it makes readily available in the public domain. In this regard, Lagos is head and shoulder above other States as per the provision of readily available financial information which can bring even a total layman up to speed very quickly as per the running of the State. This is why the likes of David Cameron use the terms "accountable, visionary and responsible" for Fashola exclusively

Lagos is not at all vague with it's financial figures and data. The website of the State, even as I have not seen that of all States of Nigeria, has to be one of the best in Nigeria with how it virtually gives crucial information about Lagos which allows observers to see exactly what is going on. I suggest some posters should spend some time perusing the page below showing financial information about Lagos. Nairalanders can scroll down to inspect "REVENUE,EXPENDITURE & DEBT PROFILE OF LAGOS STATE" . For the sake of even being more effective in their own personal lives, some Nairalanders really need to begin searching for and working with established facts instead of letting emotions, unobjective hatred and prejudice rule and compromise their reasoning/outlook.

http://www.lagosstate.gov.ng/financialslist.php

It will be to the glory of Nigeria if the youths embrace a quest for knowledge and then speak after a sound understanding of what is under discussion. Wading in ignorantly and sentimentally, to make prejudiced or biased conclusions, achieves nothing.

http://www.lagosstate.gov.ng/news2.php?k=3728

LAGOS LIGHT RAIL: FASHOLA SAYS STATE’S HUGE LOAN PROFILE IS USED TO FINANCE CAPITAL INTENSIVE PROJECTS
Posted on: 2014-09-11 00:00:00
…“Lagos has taken her destiny into her own hands”, he says

Lagos State Governor, Mr. Babatunde Fashola, SAN, Wednesday inspected progress of work at the Iganmu Terminus of the Lagos Light Rail Mass Transit project explaining that the loans obtained by the administration is used in financing such capital intensive projects as the Light rail, expansion of the Lagos-Badagry Expressway and Mile 12 – Ikorodu, among others.

Governor Fashola, who fielded questions during a media interaction with State House Correspondents after the inspection, said the projects embarked upon by his administration was aimed at adding value to the life of the average Lagosian adding that it is the only way to finance such projects.

The Governor declared, “So if the people of Lagos want rail, if they want to see a 10 lane highway on Badagry Expressway, if they want the work we are doing in Mile 12 into Ikorodu expansion to continue, if they want to see all of the developmental works that will add value to their lives, that is the only way to finance it”.

He argued that if the State does not borrow, it means it has to wait every month for those who want to pay rent, Land Use Charge, Tenement Rate, Drivers License or a parcel of land and other rents pointing out that no government could accomplish rapid development at that rate.

“If we wait, it is a bit-by-bit income. If you look at all our IGR, it is all secured against these assets. I can’t tell our contractor that wait, let me go and collect money from licensing office to come and give you. This is how it works because a contractor has designed a project which is going to benefit our people, it would cost Billions of Naira to do”, he said

The Governor said the best thing to do was go to a bank, get the money so that the contractor could be paid adding, “As the income comes in through IGR, we will use it to defray the loan and that is why the banks are lending because they see that the funds are coming in and that is how to run a government”.

Reiterating that the money borrowed goes to finance capital intensive projects for the benefit of the people, Governor Fashola told newsmen, “You can see people working on this construction site, you can see supply and you can see labourers. That is how an economy works, people are taking value from government infrastructure initiative, from government borrowing funded by tax payers money so anybody who is worried must either not know his economics or must have a voodoo intention to achieve”.

He expressed pleasure at the progress of work so far at the project adding, however, that the project suffered the delays in terms of the fact that it is a large and complex project. He expressed the hope that work on the project could move faster.

The Governor said much progress has also been made at the Mile 2 end of the project, where work started the last time, to the Iganmu end which is about seven kilometres, adding, “Track has been constructed, the rail has been laid and four stations are now completed”.

He noted that what is currently being done is to cross the water to the final station in Marina “which is another five kilometres of heavy construction work, concrete and iron rods”.

“They have to build 150 piles across before we can get there. This should come to another 12 months to get to Marina because we have suffered delays. They have to pass through existing properties to get permission, Right of Way and compensation issues; but we are making progress”.

Governor Fashola noted that with the contract and the financing in place, the only thing left was how much time to log on to on a day to day basis, adding the State Government has always come to the public when it was raising Bonds and were never conducted under the table.

Speaking further on the recent publication that Lagos owes a huge amount of foreign debt, the Governor noted that his administration had never borrowed secretly adding, “When we were doing the DPO you were there. I have been to the House of Representatives to say that we have a loan application with the World Bank for 600 million Dollars”.

Governor Fashola maintained that Lagos is the only sub -national government in Africa that has benefitted from such a facility adding, “Of all the sub-national governments in the whole of Africa, we are the only beneficiary government. The only other two countries where their sub-nationals have benefitted is in Brazil and in India”.

He explained further, “The thing to understand is that there was a debt of about One Billion Dollars which is roughly around N160 Billion. I could not decipher the intent and purpose of the publication, but if it was to inform the public, the State has always kept the public informed every time she borrowed money and if there were other intentions, only those who make the publications will know what their intentions are”.

The Governor added that when people talk about debt of a State like Lagos they forget that after Nigeria, South Africa and Egypt and one other country in Africa, Lagos is the fifth largest economy in the whole of Africa adding, “When people are talking about one Billion Dollars debt to a population of 21 million people, they should also be measuring the responsibility as the debt is being measured and should not be kept in isolation”.

“Our rating as a State is the same as Federal Republic of Nigeria-BB Minus stable, with a positive outlook and we are the only State in the Federal Republic of Nigeria that has that rating,” he emphasized.

Governor Fashola explained that what those who have been publishing the debt profile do not say is that no state in Nigeria can borrow money from any other multi- national agency outside the country without the Federal Government’s approval.

“So what they did not say is that they approved it. No state can raise money by Bond the way we have done without the Federal Government approval. They would not do it. The Security Exchange Commission (SEC)and the Nigeria Stock Exchange (NSE) are all Federal Government regulatory bodies through which we must pass. So if they say okay, it must mean that there must be something good about that debt”, he said.

He noted that the first tranche of the Bond that was taken during first tenure has been paid, adding that the next one would fall due around 2016 or 2017. “We are already making the provisions and the provision which will be there will be in excess of what will be needed to pay it”, he added.

Speaking on what support the State has received from the Federal Government Fashola said there has been no support by way of direct cash support as the projects are being carried on with the State’s strength and with the support of the people of Lagos who pay taxes, adding that Lagos has taken her destiny into her own hands.

“As a Federal Government, we can’t borrow money outside the country without them giving us the approval and that is all and even at that in the last two years, there were a lot of delays and frustration which led to my going to the House of Representatives to get them to pass this and even now may be this week the credit was finally made and so we are going to pay as a State not the Federal Government”, he explained

According to him, “Nobody has done us any favour. The law just says that if any part of the country is going to borrow money, the country must approve but the debt is our own and that is why they are publishing and we acknowledge it as our debt. We have never moved away or denied it”.

“We have always said we took the money and this is part of where the money is going. You can see people constructing, you can see supply and you can see labourers. That is how an economy works, people are taking value from government infrastructure initiative, from government borrowing funded by tax payers money so anybody who is worried must either not know his economics or must have a voodoo intention to achieve”, he reiterated.

The Governor was conducted round by the Managing Director of LAMATA, Dr Dayo Mobereola and General Manager South-West CCECC Nigeria Ltd., Blue Line Lagos Light Rail Mass Transit, Mr. Li Bing, Head of Engineering, Nexant Consulting Ltd. Engnr. John Martins and other senior officials of the CCCEC construction company.
HAKEEM BELLO

iwonbaoko: Thanks for your kind words but I would not want you to put words in my mouth. I have not voiced an opinion (yet) on Lagos state's ability to pay back the loan. I was actually hoping to debate that issue .

Sorry if that appears to be the case but this is not my intention at all. When I said you inferred that Lagos has the ability to service the loans it has taken, I concluded this because you put up a consistently factual argument about how lenders like the World bank stringently and exhaustively scrutinise the financial health of entities they lend to. It means,implicitly, Lagos can pay back all loans it has received. Individuals, organisations, States and Nations default on loans mainly because(1) the original information given to obtain the loan utilised financial deception or (2) debtors mismanage their finances and/or fail to prioritise effectively. Even with corruption taken into account, and assuming we even err on the side of conservatism, the very commendable growth in IGR and GDP Lagos has achieved, to now position it as perhaps the only Nigerian State capable of surviving without federal allocation, means the debt-to-GDP ratio observation behind the issuance of loans to Lagos is very sound.

My point is that The loan and information about it is not news.It has been in the public domain since 2010. It was agreed with the World Bank and I know that prior to its approval Lagos State was required to make several changes to its public procurement rules and other "transparency" parameters. It was a long and involved negotiation lasting more than a year. Okonjo Iweala was MD of the Bank at the time.
I also agree that the interest terms of the loan are very very favourable and that makes it attractive. One is also persuaded by the fact that this specific loan is directed to a specific project.

We are on the same page with what is stated above.

Now I must point out that I am NOT an APC supporter,not a Fashola supporter or a Tinubu supporter either.
So I prefer to have a balanced debate.

You do not have to be an APC, Fashola or tinubu fan to discern that, all things taken into account to include the reality of how things are done in Nigeria, Lagos is well-led with real and quantifiable development and economic gains no other State has been able to come close to. This has nothing to do with politics and I personally put politics aside when talking of Lagos because it is my State.

Therefore I am not in support of ALL loans by Lagos state necessarily. I support loans from the World Bank because they perform greater diligence on how the money is spent and the interest rates are very good.

I would not expect you support all loans Lagos takes. That is common sense. Every financial decision, if it involves increasing the debt stock of a Nation or State, should be inspected on a piecemeal basis. Yet you can agree it is ignorant for anyone to to postulate that debts is automatically bad without inspection of the many considerations that can justify that assertion. This is consistently my point on these threads. I manage a high level of debts personally, mainly mortgages i.e "home loans", but I never struggle servicing my loans and actually even make very good money subtracting the difference between what I pay as regular loan repayments (monthly mortgage payment) and what tenants pay me in rent. The point of that example is that commenting without an awareness of the full picture is incredibly ignorant. I could ordinarily be seen as heavily indebted but the real situation surrounding my own income and personal circumstances means I have no problems at all servicing my loans and that I am actually financially much better off for taking these loans.

With regard to ability to pay I am not really in a position to comment without good information on the Expense/Liabilities profile of Lagos State. One must know the Revenues as well as expenses before one talks about ability to pay. GDP/debt ratios have no value if government is constrained from extracting revenue ffrom its economy. This could be the case for all kinds of reasons and so two governments with the same GDP do not necessarily have the same revenues

I don't think this is the case with Lagos because, without overstating a simple issue, what Lagos has borrowed appears to show it has erred conservatively on the side of caution and prudence in relation to the debt-to-GDP ratio of the State. Many informed experts have reiterated this. While I do not hold their summation as infallible or gospel truth, the reality is that key indices indicate that Lagos appears to be effectively a "Nation-State" able to sustain forward movement on the way to reaching the greater heights predicted for it by many development agencies of the world. I actually think Lagos would have no problem sourcing funds if it decides to borrow more.

The other question as some people are suggesting is that the money is being stolen. Again the form of debate should be to compare like for like projects in terms of quality/cost. That is the sort of debate I would welcome. Unfortunately most of those criticising do so with partisan objectives but that does not mean that there can be no criticism

Bruv, does any Nigerian State escape this allegation? I agree with you that we should look at projects delivered and scrutinise these for quality/cost. I personally think, even accounting for the reality affecting all States of Nigeria, Lagos would acquit itself very well in this regard.

Ttalk: Why crying as if it your concern whether Lagos borrow money or not? Has BRF asked you to come pay it on his behalf? Leadership comes with responsibility and there are unavoidable risk that should be taken if progress is to be made. Many of you agree that Lagos can do without FG allocation, how did it arrive at that? This could not have been achieved without building a stable economic and industrial base that would guarantee the inflow of resources that make up high IGR Lagos generates. You people should better focus on meager oil money that is not enough to cover your expenditure and which will vanish the moment we start practicing true federalism.

So Nairalanders still has intelligent posters like you active and posting? My man, sometimes the nauseating ignorance of some contributors here makes one want to bang his head against the wall. It is the sound leadership of Lagos over the past 10 years, not anything the FG or any other State has done, that has seen the GDP, IGR and economic health of Lagos improve drastically to the extent the State now has one of the best debt-to-GDP ratio in Nigeria. It is the exemplary leadership Lagos has that has now put it in the position to claim the position of 7th largest economy in Africa if the State becomes a sovereign nation today. It would have been good if those focusing on the negatives here had the intelligence to at least put up factually and economically sensible arguments. Yet all we get, bar the contributions of a few posts to include your own, is incredible ignorance, shocking simple-mindedness and hideous lack of knowledge. A disgrace to Nigeria really.

iwonbaoko: Why talk like an ignorant market woman if you don't know keep quiet rather than make a fool of yourself. This loan was negotiated and agreed in 2010 during Fashola's first term. There has been no secrecy and that information has always been public for real Lagosians. Is it that easy to borrow 160 billion from the World Bank? Loans that are given out at close to 0% interest. Find out before you start making noise. The loan was agreed before they ever broke ground on the rail project which has been under construction for years. It was Iweala who was MD when the World Bank approved the loan. The loan was agreed in tranches. The World Bank was ready to release the next tranche so that means they were happy.The Fg was playing politics that is all

The same FG borrowed from China to build light rail in Abuja. Which is more economically viable??

Dude, I really respect all your input on this thread. Your intellect, clarity of vision and insightful knowledge puts you head and shoulders above others here who are mainly ignorant and just plain biased to the point of self-deceit. To even put issues in perspective, If Lagos were a sovereign Nation, it's GDP would make make it around the 7th Largest economy in Africa. Simplistically, and for those who are honest with themselves, are we saying that the over 40 Countries that fall behind Lagos in the GDP tier, if the State were an African nation, would struggle to get developmental loans, for critical infrastructure, totalling N160 billion which is $1 billion? The ability of Lagos to pay the loan, as you consistently inferred, is not in doubt because of a look at the financial health and vibrancy of the State.

With all due respect to Nigeria, there are property developers in the UK who get loans over $1 billion for private and riskier ventures and it is asinine to then think a mega city which has the 7th largest economy in Africa has somehow borrowed irresponsibly or above it's capacity. Do some of the ignorant individuals who have commented here know the meaning and implications of debt-to-GDP ratio? Lagos has one of the best debt-to-GDP ratio in Nigeria !!! As simple as that. Anyone who understands the economic issues that really matter for the purpose of this discussion will know Lagos has borrowed responsibly and indeed has the financial health, nurtured by the political leadership of the State for the past ten years, to borrow more. But for your impressive contribution, which gives hope that there are still intelligent and objective folks here, this is the sort of thread I ignore because it is usually a cesspit of hateful ignorance, self-delusion, misinformation and unthinkable obstinacy in the face of indisputable facts. Honestly, the pervasive market-woman ignorance which gives rise to the inane comment one sees here leaves me despairing for Nigeria.


http://uk.reuters.com/article/2013/10/23/uk-lagos-megacity-idUKBRE99M04620131023

"WE CAN'T STOP THEM COMING"

If Lagos were a country its GDP would make it Africa's seventh biggest economy - more than twice the size of Kenya's. Its large consumer market is already well established for firms like Unilever, Heineken and Nestle.

One of Africa's biggest stock markets sits here, as does its second biggest market in government bonds. Industry is hampered by poor power generation, but the service sector is booming.

Lagos accounts for more than half the non-oil economy of Africa's leading energy producer, says economist Paul Collier, who sees it as key to breaking the country's dependence on oil.

"Lagos is Africa's best chance of a productive megacity," he wrote in The Plundered Planet. "As oil runs down and is replaced by a new economy ... Nigeria's economic future lies in Lagos."

http://en.wikipedia.org/wiki/Debt-to-GDP_ratio

Debt-to-GDP ratio
From Wikipedia, the free encyclopedia


In economics, the debt-to-GDP ratio is the ratio between a country's government debt and its gross domestic product (GDP). A low debt-to-GDP ratio indicates an economy that produces and sells goods and services sufficient to pay back debts without incurring further debt. Geopolitical and economic considerations - including interest rates, war, recessions, and other variables - influence the borrowing practices of a nation and the choice to incur further debt

http://businessdayonline.com/2014/09/ambode-says-lagos-debt-is-under-control/#.VBFWl_ldUvI

Ambode says Lagos debt is under control
September 8, 2014 | Filed under: Breaking News | Author: Editor

Akinwunmi Ambode, a former accountant-general of Lagos State, and one of the expected candidates for the APC’s gubernatorial elections, has refuted allegations that the ruling APC government had saddled Lagos State with unmanageable debt.

Speaking last week at the inaugural Leadership Series organised by For The Future Nigeria, a political action committee affiliated with the All Progressives Congress (APC), Ambode explained that debt should never be analysed in isolation but should be considered in relation to GDP. In that measure, Lagos has one of the best debt-to-GDP ratios in Nigeria, surpassing that of most states and even the Federal Government. He further explained that most of Lagos’ debt went to finance projects that would increase the state’s revenue-generating capability – ensuring that Lagos would continue to develop and remain credit-worthy.

The part reproduced below is especially worrying:

but I know there is a serious financial crisis and it is unprecedented in the history of this country. That, for the first time since 1999, allocations can no longer come as and when due to states is shocking.”
With these words, Governor Adams Oshiomhole of Edo State painted a gloomy picture of the nation’s financial situation.

O soldier: Gbawe or what ever you call yourself, why insult? it show that you lack proper home training, at every slightest argument you most chip in insult haba is not good now. be mature in your argument and stop insulting ppl here just advise ooo

Go and inspect what others said first before you ascribe guilt for any wrongdoing. Posters who are polite deserve and get nothing but politeness in return from me. The opposite will also apply. Let me give you an example. Look at the first response of the character called Promhize to what I wrote on the first page :

mao grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin grin

Gbawe you are a shameless fool! Economics of scale? grin grin lmao.

Should I be polite to someone who calls me the above? What do you want my response to be? I am always amazed you guys cannot ever be fair to all involved and only pick and choose who is "insulting" others. Next time look properly, as a fair person would do, to note those showing lack of "home training".