₦airaland Forum

Did you miss the part where I state I would INVEST the money in any company that would like to build and RUN IT( for profit) in Nigeria?


Maglev is a pipe dream for a country like Naija for now, Even Britain said it is too costly to build so they shelve the idea. Let Naija build the standard 120 miles per hour train first .

Give me 400 million and I would invest in enterprises looking to build and run Maglev system of transportation across Nigeria.  


What I am saying is all those things wey your people they call airport are just a take off and landing strip for a plane, they aint airpot. So what I am emphasing here is these landing strips are not white elephant project they are more like white rat projects. Some houses in Ikoyi is more expensive than those strips your Governors are calling airport. That is why I said give me N100 million I build something better than those strip we have all over Niaja.


You cannot build Maglev with N400 Million Niara lai lai, or do you mean Dollars.  

I have studied naija stocks for 3 years now the banking sub-sector would probably hit between N57 to N60 for the likes like Zentih, UBA and first Ba nk before it starts going down. I guess the time to invest is now.

Lagos state should start buling its own prison, beacause all those defaulters would have to be jailed or punished somehow, do they jail them in a federal prison, cosidering they have commited a state offence and not a federal offence.

$1.7 Billion dollars for Abuja roads ALONE vs approx. $1 Billion for all the other roads in Nigerias? Come on!!!

What it simply means in lay mans lingo is there is N100.00 in the pot and Abuja has taken N50.00.

If only they have the resources you have in mind. Don't forget the chairman won't be there if not for some "big" man. In the scheme of things he's a small fish thats what am saying.

Honourable Akintola said the total estimated expenditure for the fiscal year was N640,000,000 with N243.3 million voted for recurrent expenditure and N396.8 million for capital expenditure.


Did you read the first item on this thread, see statement above they have the resources and I dont see why LG are not performing.

"Your example is flawed because Fashola is at top, Fash is not local govt chairman, hence he can do all these. If Fash was local chairman he's achievement would have been minimal."

Do you know what this thread is about b4 u just in and start talking about Fashola. This thread is only highlighting the capital expenditure funds available to LG, I was not aware that LG has such huge amout to spend on capital projects within their localty. My emphasis is if these fund is properly harnessed and channelled to the right project it should be able to wipe out un-employement in any LG. By wiping Un-employement in the LG level u have in a way solve 1/2 of Nigerians problems. There would be less rural - urban migration e.t.c

a new stadium just got built for a team out here(its highly subsidized) i dont know the exact percentage but the tax payers bore the most of the burden. Guess what, they did not write that cost to tax payers off. the team had figured out how to bring in the revenue to help justify the huge subsidy even before they got approval. so you preaching write off to me is simply cooking the books in my opinion

There is noting like cooking the books in a country that requires all these development activities, when a country is putting certain infrastruture in place they are not thinking of viability they are thinking we need an airpot here they build it, we need a train station here they build it, we need a flyover here they build it. They might sell some of these infastrutures in later years just like Heathrow airport, British rail, British airways. When they sell it they will not say we are owing $25 million that debt is now yours they write it off and sell it off just to cut their losses.

writing off startup cost to make an airport viable is an indication that it is not going to be viable. not to talk of that being cooking the books.

Writing off is part of good govenance and is practised in a lot of big business all over the world. You dont want to give a business to some to run by saying well we start with -$2million dollars now make me some money. What you do is write off the $2million dollars and tell the person you are starting with no debts make this airport profitable.

"Change must come from top to bottom. Change cannot come from bottom to top. Think my friend think."

So if a LG has N390 million to spend on capital project they should not spend it but wait for the federal and state goverment to tell them to spend it. What a warp way of thinking

lastly there r other yoruba billionaires apart from those u mentioned.

Mention them now abi they no get name.

Change must come from top to bottom. Change cannot come from bottom to top. Think my friend think.

If the LG are doing their bits, and some State Goverments pulling their weight like lagos state, then the sky is the limit. There is nothing they will not acheive if they work in unison.

u want me to name yoruba ppl that are billionaires; i'm sure u know them urself n i'm not goin to trivialise myself naming them. however did it occur to u that being a

Me I hold no allegiance to nobody and deal with facts ang figures.  When you say Hausa have nothing to do that is why they join the army you make it sound like a dead-end job, but I will rather take take that dead end job as I will be a billionaire b4 someone else that took another route.

Apart from OBJ - 2 times presidency if he is not a billionaire then he is prick. He was only opportuned becos his boss was assinated in 1976 otherwise nobody would have known OBJ.

Femi Otedola and Mike Adenuga  name another yoruba billionaire in dollars.

Ok, comparing what government everywhere else in the world does with what is doen in Nigeria is a total bull crap, who is this person?


Tell that man to go and read the other thread about the withdrawal of official cars to the wifes of LG chairmen, then may be he will understand Niaja politics. Even MPs in UK dont have Officail cars how much MPs wife.

Has it occur to you that you dont need education to be a billionaire and be successful in buz?

Name one such person that is un-educated and a billionaire in dollars and has always been a businessman.

there are lot of answers and examples to the question u asked.

Can you name 10 biliionaires in dollars from your tribe. I will name 10 billionaires in dollars that are ex soldiers of northern extraction that you claim are un-educated.

What is 'strategic' in building another airport when there is one 79 miles to the west and 60 miles to the east like the Asaba case?

What is the strategic sense in building another airport in Ogun when the Ibadan and Lagos airports are within similar distances as above?

What is the strategic sense in building the Akwa Ibom airport with the PHC airport and Calabar airports in close proximity to the east and to the west respectively?


@debosky

You dont seem to get it, airports are for the convience of the Governors and are politcal motivated and nothing else , even Gbenga Daniel of Ogun State find it tedious to travel 60 miles to lagos.

Federal Goverment Releases 200 billion Niaira as loans for people intrested in farming.


What I will suggest the Federal Govt should do is -


1. Establish a Labor office( un-employement office ) in each of the 774 LG.

2. Staff it with a labor oficcer and about 4 staffs that will be paid by the Fed Govt.

3. Disburse the loan to the 774 LG equally. The Chairman and Labor officer would be both be the signatory to the funds

4. Every unemployed graduate in each of the LG govt will be recorded in an Orderly manner.

Monday all unemployed PHD holders.
Tuesday all Unemployed Masters Holders
Wednesday all un-employed Degree and HND holders
Thursday - all University drop outs and scondary school leavers
Friday - all primary school leavers, illetrates, old folks still capabable of working.

The loan would be disbursed from the those with the higest qualifiaction downwards. If no PHD holders it goes to master holders, if no master holders it goes to Degree holders. Degree Holders are a lot- Every degree holder will now right a thesis on what they will do with the money and how will they absorb other degree holders and how many other degree holders would their concept absorb. How many secondary school leavers leavers and primary school leavers would their idea absorb.

The degree holder with the best idea would be giving the money in installments as the project is executed and as fund is required.

The essence of this model is to acheive full employment which I beleive is acheivable, but we should not look at the big picture that is Nigeria as a whole but the small picture which constitute of 774 mini nations

"You cannot simply 'write off' a cost - In case you missed it the first time, let me reiterate - unless the project will repay the cost of it's construction through revenue, OR repay the cost through associated increase in economic activity due to it's use."


Airports are like state University, any Governor in other to show his people that he has done something he will either establish a state Uni if they dont have one already or establish an airport. Even if the Airport's fence is touching another airport's fence but the other airport happened to be in a diffrent state. Airports are Governors personal helipad, Most Governors would rather put an airport in their state than travel 100 km to nearest airport. Akala would rather fly from Ibadan than travel to Lagos. In most cases the Governor of the state and his commisoners are the only people using such airports. Airports are political projects viability does not come to play when building them in Nigeria. But like I said earlier with time it will pay itself. The initial cost of building it is dead money never to be recoverd.

"hausas are cleverer than you think"

Someone told me a story that during the Biafra war, if the comander of a unit wants to know where the enemy position where, he will come around and talk to his soldiers and say

Commander : private Adekunle come here,

Priv Adekunle I am here sir,

Commander : Do you want double promotion,

Priv Adekunle : of couse sir,

Commander: infact I will not just give you double promotion I will make you an officer,

Priv Adekunle: Me officer ( the private starts dancing thinking he is a lucky man )

Commander: But there strings attached to it ( the commander now explained to the private as officer he will lead his men from the front,

Private Adekunle sensing the inherent danger involved in the task, now declined the promotion,

Priv Adekunle: oga, I know won be Lt anymore I rather remain a private.

The Commander now called private musa,

Private Musa: YES SIR,

Commander : You won be Lt ,

Private Musa: Yo mean me officer, the hausa soldier start praising God for the quadruple promotion ishau llao, allau arkubah o

The commander pinned the officer strip on his arm. Private Musa was the happiest man in the world

The Commander now informed now Lth Musa that the promotion comes with responsibilty.

Lth Musa accepted the responsibilty and now made a charged into the jungle with his men going after him, a few hundred yards down stream the men heard the crackleing of rifle fire, they all ducked. After about 20 miniutes of total silence the next in command saw Lth Musa's body down by the stream with a bullet in his head. he now call his troops to retreat to base,  but with valuable information as to where the enemy fire was coming from.

On getting to base the Sgt brifed the commander.

The Commander now informed his troops that they know where the enemies are now and Lth Musa was a brave soldier. He now asked his men does any one wants to be an officer, all the Yoruba soldiers declined, another Hausa man Corpol Shehu volunteered. He led his men into this 2nd attack which was sucessful. After the operation he became a full Lt from a 2nd Lth and after successful operations he climed through the ranks until after the war in 1970.  He was a major when the war ended.

This story is a true story, a lot of Hausa soldiers volunteered and those that where not killed live to tell the story as officers. That is the reason why there are a lot of Northerners in the army.

thanks
don Jazzie ! modified

Explain this 'writing off' thing. Why would I write off the cost of an airport?  


The 1.27 billion dollars that would be spent on the access road in abuja would the govement get that money back ? qustion 2 is it viable or necessay I am sure u can answer that question. Any cost that cannot be recovered is written off as long as the developmental goal is acheived

" keep on harping on this 6 out of 21 airports are viable, meaning 15 are currently costing more to run than they are bringing in. Instead of fixing those, why build more?  "


I disagree with you. You keep on harping about viability. Do you seriously know what vaibility really means.

First you should see airports as a fulcrum of development in any area.  In the process of building an airport the initial cost would be written off like so many things in life. one can argue that when

1. You buy a brand new car for $50,000.00, 3 years down the line you want to sell the car, you will be lucky if you get $10,000.00. Would you say I will not buy a brand new car again because it is not viable. You bought it because it was a necessity at the time and you wanted it.

2. The federal goverment is going to spend $1.37 billion dollars for a local access road in Abuja. Would you say that this project is viable or it is necessary. The reason why the goverment is spending the money is because it is necesssary, and some posters have already made it clear to all of us in NL that the traffic jam every morning is unbearable.

3. Lagos has 3 bridges linking the mainland to the island are these bridges viable or necessary, I dont think they are viable but necessary - Yes.

Airports are necessary developments that eventually pays for itself once the initial cost is written off.

I will use the Ibadan airport as an example - Built in the late 80's quite mordern.

1. Assuming it was built for $2 million dollars, this money is dead money like a lot of things in life - written off

2. The last time I was in Ibadan airport, It was like Ghost town  just the few passengers that where waiting for their flights to Abuja and Ilorin and skeletal staff. By my estimate the number of staff would be probably 10 that were visible and another 10 that were not visible like night security personell e.t.c The visible personnel are mostly unskilled workers and  I kind bet my last dollar that they are paid the minimum wage.

Rough breakdown of personell wages

15 Unskilled staff - getting N18,000 a month = 18,000 x 15 = N270,000.00
5 Skilled staff like managers and accountants average salary N60,000.00 a month 60,000 x 5 = N300,000.00

Total salary 300,000 + 270,000 = N570,000.00

Diesel might take - N150,000.00 airports that are not busy tend to switch off their generators if their are no flights or top dignitries using the airport so the cost for diesel might be lower than the stated figure.

Air bus using airport for the Ibadan - IlORIN - Abuja run. the operators will pay landing charges

Akala and his crew, Commisoners, other top goverment dignitories when they travel to Abuja,  they will probably hire a private jet they will pay landing charges

Each passengers that fly from the airport will pay airport tax.

The car park will bring in some income.

What I am trying to illustrate here is once the airport has been built the running cost is nominal even with one fligt a day, they will just about break even. Ibadan airport is not like MM in lagos it is a ghost town.

Should we really be blaming an inept  Presidency and his Federal ministers or a inept state Governor and his commisioners when our LG are actually the masters of their own destiny. If every single LG can make  his and  her own domain sustainable then we are half way to sustanace in the country. I read this article today in one of our dailies and I said are we not focusing too much on the state and federal goverment when we should hold our LG Chairmen responsilble for local roads, markets and local un-empolyment. If a 1/4 of local goverment problems are solved then 1/2 the country's problem is solved. As far as I am know the FG has not defaulted any of our LG as per their monthly allocation. I thought all the money giving to LG are use for paying salaries and noting is left, but seeing this story below - " N396 MILLION for capital expenditure that is a hell lotta money, that can actually boost the economy of the LG if channed to the most viable project in the localty.




THE chairman of Ogo Oluwa Local Government Area of Oyo State, Honourable Sanjo Akintola, has presented the 2009 appropriation bill tagged “Budget of improvement,” to the council’s legislative arm of government.


Presenting the budget at the council’s legislative chamber, Ajaawa, the council boss said, “through its effective implementation, notwithstanding the economic meltdown, the achievements in the various sectors would be improved upon. To this end, this year’s budget has been christened “Budget of Improvement.”


Honourable Akintola said the total estimated expenditure for the fiscal year was N640,000,000 with N243.3 million voted for recurrent expenditure and N396.8 million for capital expenditure.


In his response, leader of the legislative house, Honourable Emmanuel Obasola, expressed his gratitude to God for the cordial relationship existing between the executive and legislative arms, promising that the House would give the appropriation bill speedy consideration.