₦airaland Forum

Successlane:
YEAH , just like second Niger Bridge ..


Yinmu

What? Don't you know Lagos -Calabar coastal highway project is a scam,in cahoots with his Lebanese friend Chagoury?

Tulumbu want to be richer and Elon musk before he leaves office

We have problem in this country. Self inflicted.

Virtually all road networks in Nigeria owned by federal government are in dilapidated state. .

Just yesterday,we saw how Bad Oyo-Ogbomosho road is. Not only that. Across all nooks and crannies of the Land.

Half of the amount budgeted for the Lagos -Calabar coastal highway project is enough to fix these Bad roads. But powers that be say No! for preferential reasons.

This democracy is a waste. It comes with lots of pains and agony. Corruption and sleaze.

To hell with it!😭

SmartyPants:
How can anyone write/read this and still question why its not in the budget? Was it ever meant to be in the budget??

I don't know why the igbos are so obsessed about the road. Is it that because he only connect south west and south south. Our people are beginning to know our real enemies. If there is so much work improvement on the Calabar section from now till next year ending and with the three refineries working perfectly, we will mobilize and vote for Tinubu. East west road is been given attention too.

kedeojo:
I don't know why the igbos are so obsessed about the road. Is it that because he only connect south west and south south. Our people are beginning to know our real enemies. If there is so much work improvement on the Calabar section from now till next year ending and with the three refineries working perfectly, we will mobilize and vote for Tinubu. East west road is been given attention too.

It has nothing to do with the Igbos, it's just a scam by Tinubu and cohorts ..... Kiss the truth

jamafa:
God spearing our lives. The project will b completed. We will all b living testimony 🙏

amen.

Lol...where did Umahi bstate that N1 trillion naira unbudgeted amout had been released entirely?
Where did FG get and additional 1 trilion naira that it never busgeted for and released it at once? Did it print the money or it birrowed it....? Simpleton .

Yet the 2024 budget performance for capital peojexts according to your Finance minister was 28% but your brain told you N1 trillion was released gboa....just like that.. money that was not budgeted.....is that how public finance works?

A lot of you should be in motor parks selling gala based on how your brains work. Once they give you 30k and one 2nd generation computer coupled at Ikeja computer Village, you just type anything your shallow brains tell you to....

SmartyPants:
You're just being stupid for no reason. It is clearly stated that the FG is funding the entirety of the work in phase one as the private partner was struggling to arrange funding. So you are attempting to argue that the work is progressing without being funded either by the FG or the private partner. What's wrong with you? This is minus the fact that Dave Umahi explicitly said the funds had been released. You're a total waste of time.

Blazetrailer:
Lol...where did Umahi bstate that N1 trillion naira unbudgeted amout had been released entirely?
Where did FG get and additional 1 trilion naira that it never busgeted for and released it at once? Did it print the money or it birrowed it....? Simpleton .

Yet the 2024 budget performance for capital peojexts according to your Finance minister was 28% but your brain told you N1 trillion was released gboa....just like that.. money that was not budgeted.....is that how public finance works?

A lot of you should be in motor parks selling gala based on how your brains work. Once they give you 30k and one 2nd generation computer coupled at Ikeja computer Village, you just type anything your shallow brains tell you to....

These are genuinely moronic questions. Money can be drawn out from other budget lines if someone wants it badly enough. As it is, we don't even have info on how the subsidy savings have been used.

And as it is, your position is that although phase one is nearly complete, there is no funding for it because it was not captured in the budget. The contractors must be magicians or immensely stupid, then.

Common sense should restrain you from these sorts of meaningless queries.

As to when Umahi said it, you can find the details in here: https://www.thisdaylive.com/index.php/2024/04/12/fg-goes-granular-defends-lagos-calabar-coastal-highway-says-no-personal-interest/

I suppose Atiku too doesn't know how government works. Guy you're a moro.n and I have no further interest in engaging with you.

Lol...simpleton

If only you had a tiny part of your brain send signals to you that you don't have a faint idea of how public finance works, you would not be embarrassing yourself publicly.

The question is where did Umahi ever state that 1trillion was fully released. No government does that. Even in the saner climes. The money was unbudgeted for and since givernments operate cash accounting budget, that additional or extra budgetary spending money would have had to be sourced somehow(borrowing or way and means). If there was need to do fund reallocation up to the tune of N1 trillion from previously approved budget without going back to the National assembly, the Fiscal responsibility act forbids that totally So how come they did it and getting away with it? Reallocated 1 trillion nairail capital expenditure like that?

You sound like someone who is pedestrian in public Finance. If your source of knowledge is what Atiku or whoever says, without passing it through your own thinking and pedagogy, then you are worse than I thought....

Money for the 1st phase of that project was not fully released, remaining will be done in phases. What the editorial is calling for is to ensure that it is put in the budget this time rather than use an extra budgetary means like the last time. Simple. And they are correct.

Rest of your gibberish is not worth reading

SmartyPants:
These are genuinely moronic questions. Money can be drawn out from other budget lines if someone wants it badly enough. As it is, we don't even have info on how the subsidy savings have been used.

And as it is, your position is that although phase one is nearly complete, there is no funding for it because it was not captured in the budget. The contractors must be magicians or immensely stupid, then.

Common sense should restrain you from these sorts of meaningless queries.

As to when Umahi said it, you can find the details in here: https://www.thisdaylive.com/index.php/2024/04/12/fg-goes-granular-defends-lagos-calabar-coastal-highway-says-no-personal-interest/

I suppose Atiku too doesn't know how government works. Guy you're a moro.n and I have no further interest in engaging with you.

SmartyPants:
These are genuinely moronic questions. Money can be drawn out from other budget lines if someone wants it badly enough. As it is, we don't even have info on how the subsidy savings have been used.

And as it is, your position is that although phase one is nearly complete, there is no funding for it because it was not captured in the budget. The contractors must be magicians or immensely stupid, then.

Common sense should restrain you from these sorts of meaningless queries.

As to when Umahi said it, you can find the details in here: https://www.thisdaylive.com/index.php/2024/04/12/fg-goes-granular-defends-lagos-calabar-coastal-highway-says-no-personal-interest/

I suppose Atiku too doesn't know how government works. Guy you're a moro.n and I have no further interest in engaging with you.

Then you may be a M O N R O N for calling intelligent explanation and analysis moronic questions because you don't have a clue to how public finance and appropriation work.

I am particularly drawn to your foolish postings on this topic because you mentioned Atiku Abubakar an elder statesman whom I respected so much because of 1992 SDP Jos Convention where he withdrew from the second round of Presidential Primary election because of Chief MKO ABIOLA. Alhaji Kingibe also withdrew later. If I were in his shoes I will feel cheated having been on the contention for decades. My regular and constant advice to Alhaji Atiku is that he shouldn't allow Paul IBE and Peter OBI to use his platform to vent their frustrations and bitterness wrongly and foolishly thereby rubbishing his hard earned reputations. There is a parable in Yoruba that says "when a child is crying he is seeing". Crying doesn't means the water covers the vision.

I will repeat what Atiku said that you quoted above.

He said the project returned to public discourse at the twilight of the Goodluck Jonathan administration in November 2014 wherein it was announced President Jonathan had signed the 10-state, 22-station project with China Civil Engineering Construction Corporation (CCECC) at a cost of $11.97bn.

“However, former President Jonathan could not begin the project before he lost the election. But his successor, former President Muhammadu Buhari expressed his intention to begin it and announced in 2016 that the project had been renegotiated downward by $800m to $11.1bn and that it would be ready within three years. But it continued to stall.

I quoted the above for your foolish reminder. Alhaji Atiku had since been respectfully corrected and it was very shameful that such mistake can be made. The project he was talking about was Lagos Calabar Coastal Railway line . Out of respect I will stop here .

On the missing budget, 2024 budget is still running concurrently. The project is still going. What is the problem?

Again, you talked about how the subsidy saving is being spent. Is it because a Senator asked the question?

Blazetrailer:
Lol...simpleton

If only you had a tiny part of your brain send signals to you that you don't have a faint idea of how public finance works, you would not be embarrassing yourself publicly.

The question is where did Umahi ever state that 1trillion was fully released. No government does that. Even in the saner climes. The money was unbudgeted for and since givernments operate cash accounting budget, that additional or extra budgetary spending money would have had to be sourced somehow(borrowing or way and means). If there was need to do fund reallocation up to the tune of N1 trillion from previously approved budget without going back to the National assembly, the Fiscal responsibility act forbids that totally So how come they did it and getting away with it? Reallocated 1 trillion nairail capital expenditure like that?

You sound like someone who is pedestrian in public Finance. If your source of knowledge is what Atiku or whoever says, without passing it through your own thinking and pedagogy, then you are worse than I thought....

Money for the 1st phase of that project was not fully released, remaining will be done in phases. What the editorial is calling for is to ensure that it is put in the budget this time rather than use an extra budgetary means like the last time. Simple. And they are correct.

Rest of your gibberish is not worth reading

If you agree that an extra-budgetary source was used, then you are most silly for the rigmarole you have just engaged in. I have said nothing other than to state just as much and to further state that there is no further need for budgetary allocation because, ostensibly, the funds have been released according to information in the public domain. As you've rightly said, I'm not an expert in public finance, and that is why I rely on the statements of those who are: being Alhaji Abubakar and Mr. Umahi.

Common sense says if you insist differently, then provide the evidence. Where is the evidence of what has been released and what is pending?

As to where Dave Umahi said it, the information is clearly in the article I sent.

On March 31, 2024, Umahi came on Channels Television’s Sunday Politics programme where he pointedly said that the sum of N1.06 trillion was released to Hitech. Only for him to say on TVC on April 11 that the same money been released.

If you would like to watch the video yourself, I'm sure you know what to do. Since Umahi has never refuted this particular statement, it is safe to presume it to be true.

professorPABX:
Then you may be a M O N R O N for calling intelligent explanation and analysis moronic questions because you don't have a clue to how public finance and appropriation work.

I am particularly drawn to your foolish postings on this topic because you mentioned Atiku Abubakar an elder statesman whom I respected so much because of 1992 SDP Jos Convention where he withdrew from the second round of Presidential Primary election because of Chief MKO ABIOLA. Alhaji Kingibe also withdrew later. If I were in his shoes I will feel cheated having been on the contention for decades. My regular and constant advice to Alhaji Atiku is that he shouldn't allow Paul IBE and Peter OBI to use his platform to vent their frustrations and bitterness wrongly and foolishly thereby rubbishing his hard earned reputations. There is a parable in Yoruba that says "when a child is crying he is seeing". Crying doesn't means the water covers the vision.

I will repeat what Atiku said that you quoted above.

He said the project returned to public discourse at the twilight of the Goodluck Jonathan administration in November 2014 wherein it was announced President Jonathan had signed the 10-state, 22-station project with China Civil Engineering Construction Corporation (CCECC) at a cost of $11.97bn.

“However, former President Jonathan could not begin the project before he lost the election. But his successor, former President Muhammadu Buhari expressed his intention to begin it and announced in 2016 that the project had been renegotiated downward by $800m to $11.1bn and that it would be ready within three years. But it continued to stall.

I quoted the above for your foolish reminder. Alhaji Atiku had since been respectfully corrected and it was very shameful that such mistake can be made. The project he was talking about was Lagos Calabar Coastal Railway line . Out of respect I will stop here .

On the missing budget, 2024 budget is still running concurrently. The project is still going. What is the problem?

Again, you talked about how the subsidy saving is being spent. Is it because a Senator asked the question?

So what does all of this have to do with anything I've said?? Clearly, it is the person I am responding to who feels there is a problem. Asking me this shows you are not following the conversation, which is rather stupid of you.

Bluntemperor:
OP,are you for real?
How many times, would you Budget for a NTrillions items?
Are you suggesting that every year,Nigeria should continue to Budget for what has been taken care of before Or
You don't understand the Principles of Budgeting,ni?
Stop 🛑 being an alarmist!

Oga wetin you dey talk?
Person say money wey dem budget still dey, you come dey talk another thing

Lol....nonsense. You keep proving it to me time after time that you are nowhere close to being literate talkmore of getting near anything smart. For the sake of those who invented the language, remove anything smart from your moniker.

You are just writing gibberish. Answer simple questions, you keep referring to television broadcasts of a minister that has been known to falsify historical information and known to have given misleading information in the past. Bull. I dont swallow their nonsense hook like and sinker...you may do becuse you are a simpleton... I do not.

Now listen(if your thick skull will allow you to understand). The 2024 budget had N7.trillion as Capital expenditure of which N2.1 trillion was for infrastructure(where the Coastal road would have fallen if it were initially put in the budget but we all know it was not as confirmed by the minister of finance). 3 days ago the Minister of Finance stated that the funds released for capital projects of the 2024 budget was 25% of the entire 7 trillion(meaning they only released 1.75 trillion the entire year for all capital projects).

Are you then making that stupid assumption that all Capex expenditure was released for only the coastal road all year and nothing else or little to other projects (even if the coastal road was not in the budget)?

Where did Umahi get his 1.06 trillion? No government in the world(except criminally minded ones in your country release 100% of funds for a counterpart funded projects)

That you allocate extra budgetary expenditure to projects does not mean it is 100% cash backed. Governments dont operate accrual accounting system, they release funds in batches. If the remaining of the 1.06 trillion will be released in 20-25, it must be put in the budget. That is what the editorial is calling out.

Any little knowledge of public finance will tell you that you don't even use Virememt(which you foolishy suggested might have been used to reallocate funds to the coastal road) for Capex but for Opex

You actually dont know what you are blabbing about. I have seen enough to admit that you know little about how public finance works. You are probably a political jobber hired to make public comments on what ehat you don't even have an idea about.

I practiced public finance at the highest level in Nigeria before moving to other things. When I speak, people listen. It is not with simpletons like you that I discuss

SmartyPants:
If you agree that an extra-budgetary source was used, then you are most silly for the rigmarole you have just engaged in. I have said nothing other than to state just as much and to further state that there is no further need for budgetary allocation because, ostensibly, the funds have been released according to information in the public domain. As you've rightly said, I'm not an expert in public finance, and that is why I rely on the statements of those who are: being Alhaji Abubakar and Mr. Umahi.

Common sense says if you insist differently, then provide the evidence. Where is the evidence of what has been released and what is pending?

As to where Dave Umahi said it, the information is clearly in the article I sent.

On March 31, 2024, Umahi came on Channels Television’s Sunday Politics programme where he pointedly said that the sum of N1.06 trillion was released to Hitech. Only for him to say on TVC on April 11 that the same money been released.

If you would like to watch the video yourself, I'm sure you know what to do. Since Umahi has never refuted this particular statement, it is safe to presume it to be true.

We told you clowns there was nothing like that

No need of adding it to 2025 budget because that project has been paid in full

Blazetrailer:
Lol....nonsense. You keep proving it to me time after time that you are nowhere close to being literate talkmore of getting near anything smart. For the sake of those who invented the language, remove anythingbsnrt from your name.

You are just writing gibberish. Answer simple questions, you keep tefrring to telecision broadcasts of a Imister that uas been known to falsify historical information and known to have given mosleading information in the past. Bull. I dont swallow thwor nonsense hool like and simker...you may do becusr you are a simpleton... I do not

Now listen(if your thick skull will allow you to understand). The 2024 budget had N7.trillion as Capital expenditure of which N2.1 trillion was for infrastrutre(where the Coastal road would have fallen if it were initially put in the budget but we all know it was not as confirmed by the minister of finance). 3 days ago the Minister of Finance stated that the funds released for capital projects of the 2024 budget was 25% of the entire 7 trillion(meaning they only released 1.75 trillion the entire year for all capital projects).

Are you then making that stupid assumption that all Capex expenditure was released for only the coastal road all year and nothing else or little to other projects (even if the coastal road was not in the budget)?

Where did Umahi get his 1.06 trillion? No government in the world(exept criminally minded ones in your country release 100% of funds for a counter part funded projects)

That you allocate extra budgetary expenditure to projects does not mean it is 100% cash backed. Governments dont operate accrual accounting system, they release funds in batches. If the remaining of the 1.06 trillion will be released in 20-25, it must be put in the budget. That is what the editorial is calling out.

Any little knowledge of public finance will tell you that you don't even use Virememt(which you foolishy suggested might have been used to reallocate funds to the coastal road) for Capex but for Opex

You actually dont know what you are blabbing about. I have seen enough to admit that you know little about how public finance works. You are probably a political jobber hired to make public comments on what ehat you don't even have an idea about.

I practiced public finance at the highest level in Nigeria before moving to other things. When o speak, people listen. It is not with simpletons like you that I discuss

Respect
You schooled the zombie

Blazetrailer:
Lol....nonsense. You keep proving it to me time after time that you are nowhere close to being literate talkmore of getting near anything smart. For the sake of those who invented the language, remove anythingbsnrt from your name.

You are just writing gibberish. Answer simple questions, you keep tefrring to telecision broadcasts of a Imister that uas been known to falsify historical information and known to have given mosleading information in the past. Bull. I dont swallow thwor nonsense hool like and simker...you may do becusr you are a simpleton... I do not

Now listen(if your thick skull will allow you to understand). The 2024 budget had N7.trillion as Capital expenditure of which N2.1 trillion was for infrastrutre(where the Coastal road would have fallen if it were initially put in the budget but we all know it was not as confirmed by the minister of finance). 3 days ago the Minister of Finance stated that the funds released for capital projects of the 2024 budget was 25% of the entire 7 trillion(meaning they only released 1.75 trillion the entire year for all capital projects).

Are you then making that stupid assumption that all Capex expenditure was released for only the coastal road all year and nothing else or little to other projects (even if the coastal road was not in the budget)?

Where did Umahi get his 1.06 trillion? No government in the world(exept criminally minded ones in your country release 100% of funds for a counter part funded projects)

That you allocate extra budgetary expenditure to projects does not mean it is 100% cash backed. Governments dont operate accrual accounting system, they release funds in batches. If the remaining of the 1.06 trillion will be released in 20-25, it must be put in the budget. That is what the editorial is calling out.

Any little knowledge of public finance will tell you that you don't even use Virememt(which you foolishy suggested might have been used to reallocate funds to the coastal road) for Capex but for Opex

You actually dont know what you are blabbing about. I have seen enough to admit that you know little about how public finance works. You are probably a political jobber hired to make public comments on what ehat you don't even have an idea about.

I practiced public finance at the highest level in Nigeria before moving to other things. When o speak, people listen. It is not with simpletons like you that I discuss

I never claimed to have any special knowledge of public finance. Nor did you initially introduce yourself as an expert in that field. Why would you expect that I should accept the arguments of a random moniker on Nairaland at face value?

Anyway, I yield to what appears to be your much superior knowledge of the subject.

Bobloco:
This project is truly living up to its name: Lagos-Calabar Coastal Highway of Fraud.

A project of this magnitude never went through budgetary appropriation. It didn't pass through the National Assembly, there was no environmental impact assessment, no contract bidding, etc.

Tinubu just dipped his filthy and leprous hands into our treasury, took out ₦1trillion, and gave it to his Lebanese friend, calling it counterpart funding.

This must surely pass as the biggest fraud ever committed by a sitting president in the entire world, which is why Tinubu has become one of the most, if not the most, corrupt president in the world.

What do u expect from a once notorious drug lord? The international organisation that named him as the third most corrupt president in the whole world can't be wrong in their accessment.

SmartPolician:
If the contractor is going to finance it, it shouldn't be in the budget because funds won't be allocated to it.

As long as the 15 trillion will be sourced by the contractor and motorists tolled for using the road, building the road is not a bad idea after all.

The road project is not a bad idea but it's the secrecy sorounding the way the contract was awarded that many nigerians are against that #19t tag could have been significantly reduced to even #10t if due process was followed and there was an open bidding before it was finally awarded.

No issues bro. We are all learning everyday. All the best in your endeavours. Apologies for the harsh words

SmartyPants:
I never claimed to have any special knowledge of public finance. Nor did you initially introduce yourself as an expert in that field. Why would you expect that I should accept the arguments of a random moniker on Nairaland at face value?

Anyway, I yield to what appears to be your much superior knowledge of the subject.

Blazetrailer:
No issues bro. We are all learning everyday. All the best in your endeavours. Apologies for the harsh words

Cheers