Sannisege:
Jandor na blind man o. So he can’t see all these trains, roads etc?

Which trains? Which roads?

700bn is chicken change for Lagos state. they can pay it off in less than two months that is why investors keep begging them to take more. Jandor should start a romantic comedy reality show with his concubine, Jennifer the clown

These debts that is being credited to the government of Mr Sanwo-Olu are not really debts.

They are crimminal and glutonic inflations of contracts both KICKBACK AND KICKFRONT by corrupt government officials, contractors incharge both local and foreign or overseas contractors.

That is why government in most African countries including Nigeria are failing in their responsibility.

Tell us your gov how much your state own what project your gov did in 4 yrs compare

MarxisGLABACK:


Lagos MONEY is going 2 BAT, that's why them enter igbese

I'm very sure your family inheritance is going to BAT. Oniyeye

₦255 Billion increase under sanwo so far, no be beans ....... His retirement would be very jolly, like his mentor......

Arelyn:
When a poor man hears about debt, they run helter-skelter and even go to the extreme to avoid one of the world's basic secrets to prosperity...

The rich view debt as a very strong financial instrument to accumulate wealth as they know everything the bank claims to have as cash reserve is nothing but figures and are only propped up by the gullible ones who think saving money is the right way to accumulate wealth...

When you save money, you barely make any reasonable interest on it rather the bank invest your money in well-calculated high-risk debt funds and other financial instruments, make interest on your money but share little to no profit with you, that's why savings interest rate are always the lowest in the history of financial appropriations

When money is borrowed for the right reasons under reasonable repayment structures and invested in capital expenditures, servicing such debt becomes less of a burden as the project under every reasonable circumstance will have a service life that far exceeds human life..

Mr Jandor either knows the truth but playing to the gallery to appeal to the emotions of the uninformed or he is not well informed financially.....

You are playing the ostrich! The man, Jandor, clearly told you that debt was accumulated without being put to use for anything reasonable. Are you suggesting that cumulative debt by siphoning funds is something good?

Whether what the governorship aspirant of Lagos said is true or not, is not the debate here. He may be wrong. But if we follow his narrative then you are wrong. The wealthy people of this world accumulate debt for a purpose and that is to finance their many businesses. Although, there are wealthy people who also buy properties in cash and refuse to go through the normal mortgage route.

Mr. Jandor is a very wealthy man, so I doubt if you are qualified to decide that he isn't financially informed. If act, your two arguments are based on faulty premises because you didn't follow the man's train of thoughts, and then made a faulty generalisation in the end.

I personally believe Sanwo Olu did some work in Lagos. Whether or not the over N200bn debt incurred by him is worth it, I'll leave it for posterity to judge,

bonechamberlain:
I wonder why Lagos state still borrows to fund budget. A state making over 40b Naira monthly.This is a world wonder.
The money Lagos makes and still making is enough to complete any project within 4 years without borrowing.

People would mention rail, rail that has been under construction for over a decade.

The people don't know any better so they need encourage incompetence. Lagos is under performing with all the revenue of generates.

AdemolaA2:


Shows how mannerless you are . I’m sure you must be one of those agberos on Lagos roads who terrorizes every hard working person living in Lagos

With this claim, You're likely to be one if those IPOB pigs or never being to Lagos. Apart from garages you wouldn't find agbero anywhere. Do you even know the meaning of agbero?

Sannisege:
Jandor na blind man o. So he can’t see all these trains, roads etc?

It's wrong management of the state funds. You can't keep developing a state while debt increases . Somethings wrong somewhere

OceanRed:
how the projects he dey commission up and down?

And you think those projects are state owned ? Lol. The truth will be known soo.

I kept saying it . Those projects sango Olu kept on commissioning is not state owned projects... The truth will be out soon.

Sanwo-Olu is doing massive works in Lagos.

oriewanbe:
Why is it that many people don't think before they write or post on this platform?

I tire, I think say na only me dey see am, some pple will come on here type whatever shit comes out of their blockhead

Sannisege:
Jandor na blind man o. So he can’t see all these trains, roads etc?

Just leave him. Even wealthy countries have debt. Dangote as wealthy as he is get huge loans to finance projects.
The main focus is using a loan judiciously and having a good means of repayment.

Do we have any country or state without debt ?

bennybuhari:

https://independent.ng/budget-sanwo-olu-grew-lagos-debt-from-n542b-to-n797b-without-any-development-jandor/

Ok thank you

For a state that the IGR can sustain, Federal allocation should be a plus. A d if that is, then why is the debt profile rising without any significant infrastructure to show for it,....... I guess we all know the answer

bluebay:
I kept saying it . Those projects sango Olu kept on commissioning is not state owned projects... The truth will be out soon.

They are Peter obi’s owned project

Octopusssy:

Which trains? Which roads?

for one, there is a bridge linking festac to orile. once this bridge is done, no one will need to go through mile 2 to link orile, or apapa oshodi expressway. it is a real game changer. it is something i had been wishing for for years. if i was still working at apapa, i could literally leave home at 7.30 and be in the office at 8 , as that bridge cuts out all the mile 2 gragra.

it is a lovely thing.

but thats just me, looking at my own benefit.

Earthquakes:


Your very correct, most especially when realising that kogi, Benue and abia receive both equal allocation and IGR as Lagos state.
Same way all the states have been made federal capital Territory too once. Joke on you

This Lagos was once a FCT talk is stale. Is Lagos state the only former FCT? Check other states that has been FCT and compare them to Lagos. You IPOB pigs should rest this matter.

Stevenson20:
If you think Lagos state governor is not doing anything, go and ask Abia state, Benue, and kogi governors how far

Here they come, bringing sentiments to a gun fight.
The figures are clear. He met the debt at x naira and now it is y naira.
Wise, competent citizens will do the arithmetic and ask for accounts of the difference.
Because it is them that will pay for any wastages or theft through elevated taxes to come and high inflation as we see today.
But failed citizens will play the ostrich and deflect responsibility as the government has taught for 7 years.

We can see how one bridge across the River Niger, one expressway to Lagos, one rail line to Kaduna and one dam in Nigeria has literally sunk the economy. How come. No one is interested. They fail to realise that the hook, line and sinker of Nigeria has always been in the details. When they buy what should cost 10 naira for 50 naira and hope the people cheer, this is the result. Harrowing poverty with trains, roads and bridges.

I really miss ambode

Accountability and Prudence trumps IGR anyday, anytime.

If you don't have prudent man in charge, your IGR is useless.

They will waste it.

That's is why Lagos is the 5th largest economy in Africa

Mydazz:
For a state that the IGR can sustain, Federal allocation should be a plus. A d if that is, then why is the debt profile rising without any significant infrastructure to show for it,....... I guess we all know the answer

Corruption.

Imagine someone like sanwo olu governing one of the poorer states like anambra or osun.

Massive wrecking.

Nigeria does not have a revenue problem.
We have a spending problem.

Tommorow, some clowns will say sanwo olu is better than Peter obi because he managed to borrow billions ontop the heavy Lagos IGR and build mediocre flashy infrastructure.

bennybuhari:

https://independent.ng/budget-sanwo-olu-grew-lagos-debt-from-n542b-to-n797b-without-any-development-jandor/

Then he must be blind !!!

CSTRR:
Accountability and Prudence trumps IGR anyday, anytime.

If you don't have prudent man in charge, your IGR is useless.

They will waste it.

Exactly. That is the difference between poverty and wealth. Accountability.

izubext007:
That's is why Lagos is the 5th largest economy in Africa

The fact that it is the fifth largest economy means it should not be borrowing as much.

It's not a country. It does not have the responsibilities of a country.
It does not have a welfare scheme for the poor or the aged.

It does not fund military or foreign embassies.
It does not fund free healthcare.
It does not fund free water projects for lagosians.

Many of its roads are tolled.

So why is Lagos borrowing almost a trillion ontop of its IGR?

Where are all the IGR going to?

Lagos treasury is a massive sinkhole.

Sannisege:
Jandor na blind man o. So he can’t see all these trains, roads etc?

Train that started 2013 or so?
And its yet to be completed?

We have been seeing train since the days of fashola bet we never see am use.

Clinton14:


Then he must be blind !!!

He's not blind. It's not about as eeing mediocre project, it's about using your brain to analyze igr compared to development.

Lol someone from his village commenting about lagos development as u can see this jandor aim is to embezzles lagos funds

OPICANTO2223:
Tinibu is working. Hypocritical people that yanked off a performing governor Ambode.

They're so corrupt. You can see as they're praising sanwoolu, one of the worst performing governors in Lagos. Cos he's doing their bidding. We're voting wisely in Lagos next year. This isn't about noise-making on nairaland or social media. The battle will be taken to the polls and the results would male all the noise instead.