₦airaland Forum

viodemus:
No worry, I get mud hut to sell to you for 100 billion naira. Na last price I dey tell you so.


Guy, you easily deceived by our leaders. This project, probably cost 300 mill dollars, and that is even because the contractors know that Nigeria don't have reputation for experts. Even at that, say 500 million dollars max, including all manners of mark up for the project. The leaders and their corrupt associates, marked it up some more, and added another 1 billion dollars to it, and don't want to be questioned. on top borrowed money wey all Nigerians go pay for in the future.


if all the super eagles show up on the pitch, we expect them to play professional ball against any opponent; we analyze their play, etc same as students going to school, we expect them to be learning what they are being taught; we just don't give them a 100% for showing up, even though showing up is part of the overall effort and goal.

You have no say
Chinedu
Go and argue about Onitsha

viodemus:
I am on the fence about praising this project.

I am happy for any project that pushes Nigeria to greater heights.


Disclaimer:
I haven't commented on this issue because I didn't have the specifications, and this information shed some light but not enough light on the project. This is not a military site, where structural and engineering information are ambiguous by information design.
I will be criticizing this project based on the general information that has been provided. I have no researched information to the specific of this project. I only ship my containers for import or export to the ports, and go clear them through the unprofessional staffs that many people experience at the ports.


Anyways, 1st off, this was a very expensive project by a long mile. For 600meter and just two shipping berth, this is too expensive at the $1.5 billion price tag. The port at long beach california, was expanded, over 10 shipping berth added, with the labor fees for the American workers - that covers health care, paid time off, injuries, nstural emergency situations, etc. It was less than $250 million. This long beach port, had seismic designs features included to the project, all manners of fire containment and protection, etc. Overall, the price of construction for the whole port, if built today, might be a little over $3 billion. Remember, this is the busiest port in the USA. Over 65% of import and export go through this port. If anyone, has been there, you will know what am talking about.


Now, we have this Lekki port, that is 2 ship berth, for $1.5 billion. There are no engineering specifics like telling us what features might have been added during construction to make it that expensive. So, they borrowed money ( please ignore where they said china and foreigners have a small percentage, let them post the original document of agreement. They borrowed huge money to build a hut. This is a hut when compared to serious ports. also know that, it is not only about the ships, they also have to have features that will make inspections, container handling, and container releasing to be seamless. That might have been included or not included in the deal.


Long story short, we were duped. Korokoro duping. It is not different from when house of reps, charge the treasury excessive amount for their toiletries, feeding, and accommodation. This project is a scam, and I wish more details are released for transparency reasons. When someone in a race, take one step and stop, that is not progress, that is effort but not a good enough effort. We were duped, from what I am seeing from the already released information.


We need to have the project information released, including materials fees approximates, labor approximates, machines used, a more detailed scope of the project, etc It is good to know these things for posterity, and it can also help future construction engineers learn in many ways, including knowing that many in Nigeria might criticize the project due to information. If it were a military project, they will hide their firewall specifications, the scope of the project, and other vital information. As this is, now, this is not a military thing, so they should release more information on specifics, because I honestly doubt the amount of this project. Also, it will let our leaders know that we are not aloof and ignorant about how Nigerian borrowed money are spent. It will let the next administration know that they can't just tell us anything and it will fly.

Partner let me let you in a secret this port was constructed to enable China to offload military hardware into Nigeria in the event there are any disruptions to their oil import. Google Strait of Malaga then you will understand. if ever war starts in the south china sea the first thing the seven fleets will do is blockage of the strait of Malaga. After that clock starts ticking on Chain (50 days) they will be out of oil. Start looking at the big picture people. China investing their money is not because they like Nigeria. The USA is doing the same thing in Liberia. Liberia was founded by the USA

omonnakoda:
You have no say
Chinedu
Go and argue about Onitsha

Your stup*dity seems to be ingrained and resolute. I will leave you to be drowned by it.

Born and raised in Lagos. Chop shit. You no fit do fem about am.

And yes, I am a concerned patriotic Nigerian. Na my last strength I dey use do the patriotic part sha.

viodemus:
Your stup*dity seems to be ingrained and resolute. I will leave you to be drowned by it.

Born and raised in Lagos. Chop shit. You no fit do fem about am.

And yes, I am a concerned patriotic Nigerian. Na my last strength I dey use do the patriotic part sha.

Nobody begged you to be born in Lagos, it does not give you a say
You are just another spiteful Ibo hater
Was this port built with one naira of government money?
Continue pretending with Your hypocritical patriotism Chinedu. You are not among go and fix Aba they need all this analytical prowess of yours

t2luv1:
Partner let me let you in a secret this port was constructed to enable China to offload military hardware into Nigeria in the event there are any disruptions to their oil import. Google Strait of Malaga then you will understand. if ever war starts in the south china sea the first thing the seven fleets will do is blockage of the strait of Malaga. After that clock starts ticking on Chain (50 days) they will be out of oil. Start looking at the big picture people. China investing their money is not because they like Nigeria. The USA is doing the same thing in Liberia. Liberia was founded by the USA

chairman, you have the 6th sense. I think say na only me and a few wise ones dey see this far and sense the heat of the fire increasing under the pot.

I am really impressed by your knowledge on this issues, most Nigerians don't know what is happening. May God help us all, because if they have to scatter Africa during this new resources rush, before it becomes a world power direct conflict, they will do it.

Even the leaders of Nigeria are nice to this things.

Chairman, much respect. You see wide and far. I acknowledge your spirit visuals. God go bless you, we need more people like you.

t2luv1:
Partner let me let you in a secret this port was constructed to enable China to offload military hardware into Nigeria in the event there are any disruptions to their oil import. Google Strait of Malaga then you will understand. if ever war starts in the south china sea the first thing the seven fleets will do is blockage of the strait of Malaga. After that clock starts ticking on Chain (50 days) they will be out of oil. Start looking at the big picture people. China investing their money is not because they like Nigeria. The USA is doing the same thing in Liberia. Liberia was founded by the USA

A salad of nonsense and unfounded incoherence and paranoia in short
Rubbish

BluePrincee:
The shareholding structure of the Port is as follows: The Lekki Port Investment Holding Inc. (international consortium) owns 75% (China Harbour Engineering Company Ltd 52.50%, Tolaram 22.5%), the Lagos State Government owns 20% while Nigerian Ports Authority owns 5%.


What kind of math is this? All the percentage put together is supposed to be 100% who wrote this na? This is the more you look the less you see😭😏

Simple mathematics calculations you guys can't comprehend and yet you have over 50 likes and shares. Are these kinds of youth the leader of tomorrow? When you don't understand 1, 2, 3 how would you understand logic, policies, and mechanics of how things work?

omonnakoda:
Nobody begged you to be born in Lagos, it does not give you a say
You are just another spiteful Ibo hater
Was this port built with one naira of government money?
Continue pretending with Your hypocritical patriotism Chinedu. You are not among go and fix Aba they need all this analytical prowess of yours

I get say for progress anywhere in Nigeria. And yes, I wish for the growth of all states including the ones you mentioned.


No worry, I will be in Festac on friday, then I will spend the upper week at my other place in VI, I plan to invite your mummy for a one night special. I know say, that old hag too ugly, but I have a solution to really make her feel flushed. I will tell the hag to put on a beyonce mask, then i go put destiny etiko hips for her back, then i go squeeze mouth, take bring that past olosho back to life. You might see her being too too merry sometime next week; just know it was my way of helping your family. No need to thank me. I will do it from the heart.

omonnakoda:
A salad of nonsense and unfounded incoherence and paranoia in short
Rubbish

When a country loan to another country in debt money. Partner you need to pause and look at the big picture. If you think China is doing all this infrastructure in that country because they so much care about that country well I have an oceanfront property to sell you in Iowa. the USA is spending over $10B in Liberia this year for port construction and another $5B in Senegal guess what port construction ask yourself this question why are all these countries catching port construction bugs at the same time?

t2luv1:
When a country loan to another country in debt money. Partner you need to pause and look at the big picture. If you think China is doing all this infrastructure in that country because they so much care about that country well I have an oceanfront property to sell you in Iowa. the USA is spending over $10B in Liberia this year for port construction and another $5B in Senegal guess what port construction ask yourself this question why are all these countries catching port construction bugs at the same time?

Did China loan us money for this? If you do not understand what is happening keep quiet and ask

Stop ranting like someone who has drunk awuf beer

omonnakoda:
Did China loan us money for this? If you do not understand what is happening keep quiet and ask

Stop ranting like someone who has drunk awuf beer

They own 52% right, That is all I need to know

omonnakoda:
Did China loan us money for this? If you do not understand what is happening keep quiet and ask

Stop ranting like someone who has drunk awuf beer

China Harbour Engineering Company Ltd 52.50%, Tolaram 22.5%), the Lagos State Government owns 20% while Nigerian Ports Authority owns 5%. If you are still in denial see that bold words that is China

Taiggarr:
UNINFORMED NEOPHYTE like you will never learn..

Oga you are basking so much in your dense nature rather you don't think. Just go and rest your games have failed.

Taiggarr:
Iti borlibor!!!

Where did I say Dangote Refinery is "The Plan" for Eko Atlantic

Mumu..even Comprehension na tall order for you..

Go and read your previous mumu comments oshi

Taiggarr:
Kitikpa dorwakwa otu nne gi ebe ahu..

Awum OKE IGBO,if you know what that means and where I hail from..

Oga shut-up you are not Igbo

BluePrincee:
The shareholding structure of the Port is as follows: The Lekki Port Investment Holding Inc. (international consortium) owns 75% (China Harbour Engineering Company Ltd 52.50%, Tolaram 22.5%), the Lagos State Government owns 20% while Nigerian Ports Authority owns 5%.


What kind of math is this? All the percentage put together is supposed to be 100% who wrote this na? This is the more you look the less you see😭😏

Read again. Don't be too quick to criticise because you are the one with no brain for simple arithmetic

Taiggarr:
Mumu..

Your grandfather..mumu

Your late WRETCHED ILLITERATE Lousy father...mumu..

You too............ finish it

We your lineage is filled with people that are efulefus that is why you are filled with envy when you see people that are together.

t2luv1:
They own 52% right, That is all I need to know

Well you do not know all you need to know which makes you foolish
They have a 45 year concession contract nd during that I period 25% belongs to Nigeria with will still charge duties and other taxes
After 45 years the concession ends
What is the ownership structure of NLNG and other Oil industry JVs
Of Dangote. Obajana?
Stop making noise

t2luv1:
China Harbour Engineering Company Ltd 52.50%, Tolaram 22.5%), the Lagos State Government owns 20% while Nigerian Ports Authority owns 5%. If you are still in denial see that bold words that is China

Are you an illiterate person or just a fool?
Take it one step at a time

Did China loan us money? Yes or no?
Simple question
Why the long story?

omonnakoda:
Well you do not know all you need to know which makes you foolish
They have a 45 year concession contract nd during that I period 25% belongs to Nigeria with will still charge duties and other taxes
After 45 years the concession ends
What is the ownership structure of NLNG and other Oil industry JVs
Of Dangote. Obajana?
Stop making noise

Why are you taking this so personally you using so many adjectives to describe me? You don't even know me but that ain't stopping you from calling me foolish. Well, it is true what people say that God must love stupid people because he keeps making so many of them.

t2luv1:
Why are you taking this so personally you using so many adjectives to describe me? You don't even know me but that ain't stopping you from calling me foolish. Well, it is true what people say that God must love stupid people because he keeps making so many of them.

Actually I have not called you foolish.......yet
You are talking foolishly which we all do sometimes what is important is that it is not the default settinread and comprehend
Then stop talking foolishly
China did not loan us money

viodemus:
I am on the fence about praising this project.

I am happy for any project that pushes Nigeria to greater heights.


Disclaimer:
I haven't commented on this issue because I didn't have the specifications, and this information shed some light but not enough light on the project. This is not a military site, where structural and engineering information are ambiguous by information design.
I will be criticizing this project based on the general information that has been provided. I have no researched information to the specific of this project. I only ship my containers for import or export to the ports, and go clear them through the unprofessional staffs that many people experience at the ports.


Anyways, 1st off, this was a very expensive project by a long mile. For 600meter and just two shipping berth, this is too expensive at the $1.5 billion price tag. The port at long beach california, was expanded, over 10 shipping berth added, with the labor fees for the American workers - that covers health care, paid time off, injuries, nstural emergency situations, etc. It was less than $250 million. This long beach port, had seismic designs features included to the project, all manners of fire containment and protection, etc. Overall, the price of construction for the whole port, if built today, might be a little over $3 billion. Remember, this is the busiest port in the USA. Over 65% of import and export go through this port. If anyone, has been there, you will know what am talking about.


Now, we have this Lekki port, that is 2 ship berth, for $1.5 billion. There are no engineering specifics like telling us what features might have been added during construction to make it that expensive. So, they borrowed money ( please ignore where they said china and foreigners have a small percentage, let them post the original document of agreement. They borrowed huge money to build a hut. This is a hut when compared to serious ports. also know that, it is not only about the ships, they also have to have features that will make inspections, container handling, and container releasing to be seamless. That might have been included or not included in the deal.


Long story short, we were duped. Korokoro duping. It is not different from when house of reps, charge the treasury excessive amount for their toiletries, feeding, and accommodation. This project is a scam, and I wish more details are released for transparency reasons. When someone in a race, take one step and stop, that is not progress, that is effort but not a good enough effort. We were duped, from what I am seeing from the already released information.


We need to have the project information released, including materials fees approximates, labor approximates, machines used, a more detailed scope of the project, etc It is good to know these things for posterity, and it can also help future construction engineers learn in many ways, including knowing that many in Nigeria might criticize the project due to information. If it were a military project, they will hide their firewall specifications, the scope of the project, and other vital information. As this is, now, this is not a military thing, so they should release more information on specifics, because I honestly doubt the amount of this project. Also, it will let our leaders know that we are not aloof and ignorant about how Nigerian borrowed money are spent. It will let the next administration know that they can't just tell us anything and it will fly.

I understand your concern due to how inflated most big projects are in Nigeria. But I don’t think you did adequate research before posting this.

1. The project is a PPP project and not a loan hence China and the investor hold 75% of the project which will lapse after 45 yrs.

2. This is a list of the 12 most expensive deep sea ports constructed last year: https://www.ship-technology.com/features/the-ten-most-expensive-port-projects-in-the-last-year/

^From that list, you’d see the cost of the Lekki Sea Port is in the same range as all the deep sea ports on that list. The only outlier, which is a bit cheaper, is NOLA Oil Terminal. And that’s because it’s an oil terminal and not a commercial port.

Also, all ports aren’t the same and the level of dredging and other variables involved in construction also play a role in the cost. And once you compare it with the other ports on the list I posted above, the cost isn’t really too steep.

Personally, my biggest concern is the excessive concentration of a lot of things in that axis and the nightmare it’s going to cause for Lagos, which is already excessively overpopulated.

AldrichAmes:
I understand your concern due to how inflated most big projects are in Nigeria. But I don’t think you did adequate research before posting this.

1. The project is a PPP project and not a loan hence China and the investor hold 75% of the project which will lapse after 45 yrs.

2. This is a list of the 12 most expensive deep sea ports constructed last year: https://www.ship-technology.com/features/the-ten-most-expensive-port-projects-in-the-last-year/

^From that list, you’d see the cost of the Lekki Sea Port is in the same range as all the deep sea ports on that list. The only outlier, which is a bit cheaper, is NOLA Oil Terminal. And that’s because it’s an oil terminal and not a commercial port.

Also, all ports aren’t the same and the level of dredging and other variables involved in construction also play a role in the cost. And once you compare it with the other ports on the list I posted above, the cost isn’t really too steep.

Personally, my biggest concern is the excessive concentration of a lot of things in that axis and the nightmare it’s going to cause for Lagos, which is already excessively overpopulated.

You assume that he s genuine and sincere
He is just another Eboe hater

BluePrincee:
The shareholding structure of the Port is as follows: The Lekki Port Investment Holding Inc. (international consortium) owns 75% (China Harbour Engineering Company Ltd 52.50%, Tolaram 22.5%), the Lagos State Government owns 20% while Nigerian Ports Authority owns 5%.


What kind of math is this? All the percentage put together is supposed to be 100% who wrote this na? This is the more you look the less you see😭😏

75+20+5= 100

The 75 comprises 52.5+22.5

Clear now?

omonnakoda:
You assume that he s genuine and sincere
He is just another Eboe hater

LMAOOO.

Trust me, I know, despite having limited or no interactions with them in everyday life. The few years I spent on this forum made me understand the Igbo psyche and their innate hate for anything Yoruba.

I wasn’t even planning to log in. But just thought he’s at least educated and has some level of exposure unlike the typical market traders that cause nuisance here daily with nothing but bile, hate, and playing victimhood. He cited some figures and references. And I had to fact-check them and post accurate figures.

I just wanted to post facts and set the records straight. That’s how to stop propaganda from growing wings.

AldrichAmes:
I understand your concern due to how inflated most big projects are in Nigeria. But I don’t think you did adequate research before posting this.

1. The project is a PPP project and not a loan hence China and the investor hold 75% of the project which will lapse after 45 yrs.

2. This is a list of the 12 most expensive deep sea ports constructed last year: https://www.ship-technology.com/features/the-ten-most-expensive-port-projects-in-the-last-year/

^From that list, you’d see the cost of the Lekki Sea Port is in the same range as all the deep sea ports on that list. The only outlier, which is a bit cheaper, is NOLA Oil Terminal. And that’s because it’s an oil terminal and not a commercial port.

Also, all ports aren’t the same and the level of dredging and other variables involved in construction also play a role in the cost. And once you compare it with the other ports on the list I posted above, the cost isn’t really too steep.

Personally, my biggest concern is the excessive concentration of a lot of things in that axis and the nightmare it’s going to cause for Lagos, which is already excessively overpopulated.

Am with you on most of your analysis, I have to also commend you for countering my assertion without insults. If you look at the list you posted, many of them were built to have more capacity on sea and on land, including temporary storage sites, parking lots for small and heavy duty trucks; and also well built roads, with the computer systems to go with it, including backup generators for continuous operation.


lekki axis, has favorable sea bed and sand. So the dredging part is not hectic like say in Japan or korea. or even the middle east. The soil analysis is very favorable. Anyways, there are many variables that favor us in this construction if only we had knowledgeable people in our society, that were also used.


Chairman, I still lean on the fact that the mark up for the project was over exaggerated. I even go as far as saying the exaggerated portion of the money was way more than the actual project.

I say all these from the strength of the released information, there is a lot of variables that am not aware of yet, like kinds of materials used. Cold formed steels, welding processes, material transport to and from the job site, and other assisting ancillary equipments. That is why they should release the original document of the project, not the security operations and characterization of the port.

AldrichAmes:
LMAOOO.

Trust me, I know, despite having limited or no interactions with them in everyday life. The few years I spent on this forum made me understand the Igbo psyche and their innate hate for anything Yoruba.

I wasn’t even planning to log in. But just thought he’s at least educated and has some level of exposure unlike the typical market traders that cause nuisance here daily with nothing but bile, hate, and playing victimhood. He cited some figures and references. And I had to fact-check them and post accurate figures.

I just wanted to post facts and set the records straight. That’s how to stop propaganda from growing wings.

You have done well, They thrive on lies and half-truths with a veneer of reasonableness

BluePrincee:
The shareholding structure of the Port is as follows: The Lekki Port Investment Holding Inc. (international consortium) owns 75% (China Harbour Engineering Company Ltd 52.50%, Tolaram 22.5%), the Lagos State Government owns 20% while Nigerian Ports Authority owns 5%.


What kind of math is this? All the percentage put together is supposed to be 100% who wrote this na? This is the more you look the less you see😭😏

You most likely got F9 in maths, a primary 1 pupil must not be struggling with this

DMerciful:
Propaganda will not make Tinubu win. Tinubu is too corrupt, shady and unfit to be president

Propaganda are things that are not entirely true. This project is done, as real as real can be.
All you need to do now is show us the achievements of your own candidate.

dubaino:
there are seaports at Warri, Koko, Lagos, Onne, Port Harcourt, Calabar

Currently, apart from the Onne Port, most of the other ports servicing the Southeast, South-South and the Eastern flank of the North are virtually idle.

Despite having six seaports in Nigeria, Apapa and Tin-Can Island Ports in Lagos is the only one functioning properly.

NOW THIS ONE IS IN LAGOS AGAIN.....

WHAT HAPPENED TO OTHER STATES WITH DEEP-SEA?
na only to collect our Oil them sabi

This seaport was facilitated by Tinubu when he was lagos state governor, and now it's getting completed.
Too bad you have mostly useless state governors in all those states you listed, they were in PDP as ruling party for 16 years and had no idea what to do with that access. See what Lagos is doing after aligning with the center in just 8 years.

omonnakoda:
Actually I have not called you foolish.......yet
You are talking foolishly which we all do sometimes what is important is that it is not the default settinread and comprehend
Then stop talking foolishly
China did not loan us money

Here is your answer
In October 2019, the Lagos State Government signed a $629 million financing facility with the China Development Bank (CDB) for the Lekki Deep Seaport. The first tranche of this loan was disbursed by the Bank in April 2021.
[/size][size=8pt]
I guess China loaned Nigeria the money after all.

t2luv1:
Here is your answer
In October 2019, the Lagos State Government signed a $629 million financing facility with the China Development Bank (CDB) for the Lekki Deep Seaport. The first tranche of this loan was disbursed by the Bank in April 2021.
[/size][size=8pt]
I guess China loaned Nigeria the money after all.

Evidence? You are foolish and proud?
Explain the details of the loan and source of c!aim
Lekki Deep seaport WAS NOT built with a loan