₦airaland Forum

veraponpo:
That is where you guys do get it wrong. Debt is called leverage in Finance. Once your Debt to Asset ratio is not more than 50% meaning ratio 1:2.

Lagos is today 5th economy in Africa coming behind Nigeria, Egypt, South Africa and, I think, Algeria. Far ahead other countries like Ghana, Morocco, etc. Do you think it came by signing MOU only or by waiting for allocation from Abuja or by looking IGR that will be used to pay salaries of staff?

There is a sinking fund for all the loans and a portion of the IGR goes into it monthly. This is why Fitch Rating for Lagos has always been A or B+. No threat to any loan given to Lagos as it is credit worthy.

I am not questioning the financial worth of Lagos, or her ability to repay her loan, my question is, compare the total revenue received to the total project executed, you just equate a state as small Lagos to Nigeria, South Africa and other countries in terms of revenue, this is were my argument lays.

C.

Cc.

Z.

mandarin:
I honestly will trust Nigeria with this man if he should have the opportunity. He is intelligent, brilliant , knows his job description and worked with available resources. He improvised by assessing the credit market to raise funds because politicians around him would have affected the paper value of those IGR someone mentioned earlier. For Buhari to have preferred him with 3 key ministries demonstrates the trust in his capacity. I was thinking he would be made the Chief of Staff( alas I was wrong and that is one of the key problem of this government)

Fashola gave Lagos a new way to think, the new mentality of a clean and organized environment, next level of infrastructures.I've never met him before but if he decides to gun for the presidency I will root for him gladly(just like Oby Ezekweseli said). We can dream on but only few has his impeccable record in this era believe me, if you can see beyong the veil of politics. Well done, the best Lagos MD so far.

Thanks to Tinubu for the good foresight(call him what you like) and Ambode for trying to prove he can do something. Ambode should look at some fundamentals, he inherited a better Lagos than Fashola and has a better starting point, he should focus on pipe borne water supply to areas with chronic lack, street roads with street lights and drainage systems , more hospitals and public schools.
Congrats Lagos, your future is certain

Well said.

Ambode inherited a good Lagos from Fashola and only a fool wont achieve in such situation. In fact, Fashola designed a 20 years road map before leaving to ensure that even if a dullard comes, he wont have to struggle.

Fashola built institutions and not individuals because individuals will naturally grow in a good environment.

In the area of sport, he tried too. From mini stadiums like Campos on the Island to Agege Stadium on the mainland. From Onikan Stadium on the Island to other sporting centres in the whole state. He sent the vagabonds away from our bridges and made it a beauty havens, full of green flowers and green grasses, to say a few in the area of environmental development.

He cleaned up Lagos and made it habitable for many.

Kudos, Fash baba.

deomelllo:
[s][/s]


Typical ipob unintelligent nonsense.

You see your life, can you see how dumb you are, and someone employed you to manage his public image. these are our leaders of tomorrow, you can't even construct a single sentence. Shame bro!!!

bishopjoe02:
I am not questioning the financial worth of Lagos, or her ability to repay her loan, my question is, compare the total revenue received to the total project executed, you just equate a state as small Lagos to Nigeria, South Africa and other countries in terms of revenue, this is were my argument lays.

Thank you boss.

First and foremost, do not mistake Economy in that term for another thing.

By saying economy, where are talking of Consumption level and flow of money in the entire economy like investments, businesses, etc

75% of non- corporate organisations don't pay taxes in Nigeria including Lagos. The carpenters, masons, vulcanizers, mechanics, bread sellers, etc. These people account for over 70% of the populace including the minors. So, we should get that clear that only about 15 to 20% of the Lagosians are tax payers (majorly office people).

Note also that these white collar jobbers pay to Lagos State is just PAYE which is deducted from their salaries. Other taxes like Income taxes, Petroleum taxes, Value Added Taxes, etc go to Federal Govt.

I understand your argument now but you should also remember there are different schools of thought on every issue.

There is a school of relativism and there is another school of absolutism.

While you are free to think that way, I still believe if you consider the population of Lagos which determines what its consumption, assets wear and tear, expenditures are, etc you will understand while his achievement wont be more than that.

For example, let us say under Fashola IGR was N20B per month. Let us assume a monthly allocation of N10B was made. This comes up to N30B. If the wage bill is N22B or more, it means what is left for capital project is N8B.

You should remember that many areas of development will need to be touched and as a result, resource allocations would be applied to ensure resources are evenly distributed.

It is not easy to lead, brother.

Please continue to educated these set of demented clowns with the mischievous sole purpose of stagnating the progress of Lagos. How can anyone be deluded enough to concluded Ambode effort is at par with that of Fashola as it currently stands ?!

Ambode is yet to build a single 5 km road anywhere in Lagos and these people are already praising him. Some of us argue that Fashola is an under performer because if the fund accruing to Lagos is judiciously use he could have completed more project but it simply cheer madness for anyone to compare that and Ambode that as not built or facilitated the construction of a single, hospital, school or any vocational learning institute to Fashola.

I pray these unintelligent people praising Ambode for virtually nothing will grow to understand praising this clown will only discourage him from embarking on more meaningful projects that could be beneficial to us all.

veraponpo:
Thank you boss.

I understand your argument now but you should also remember there are different schools of thought on every issue.

There is a school of relativism and there is another school of absolutism.

While you are free to think that way, I still believe if you consider the population of Lagos which determines what its consumption, assets wear and tear, expenditures are, etc you will understand while his achievement wont be more than that.

For example, let us say under Fashola IGR was N20B per month. Let us assume a monthly allocation of N10B was made. This comes up to N30B. If the wage bill is N22B or more, it means what is left for capital project is N8B.

You should remember that many areas of development will need to be touched and as a result, resource allocations would be applied to ensure resources are evenly distributed.

It is not easy to lead, brother.

I must commend you for engaging in a meaningful argument devoid of insult or name calling. Thumb up bro, everyone can't never be on the same page on an issue.

deomelo, you never disappoint. I'll bookmark this link so that any dolt that comes next time and waste space by spitting trash about Fashola would witness a baptism of projects under Fash.

[s]

bishopjoe02:
You see your life, can you see how dumb you are, and someone employed you to manage his public image. these are our leaders of tomorrow, you can't even construct a single sentence. Shame bro!!!

[/s]


I don't waste time on unintelligent people spewing unintelligent trash.


If you are going to make intelligent argument and contribution from project to money ratio, common sense dictate that you tell us exactly what his budget was and give detailed cost of each project, what similar projects cost around the same time, cost of labor, cost of materials, consulting and engineering.


For now, all you are spewing is unintelligent nonsense.

veraponpo:
Thank you boss.

I understand your argument now but you should also remember there are different schools of thought on every issue.

There is a school of relativism and there is another school of absolutism.

While you are free to think that way, I still believe if you consider the population of Lagos which determines what its consumption, assets wear and tear, expenditures are, etc you will understand while his achievement wont be more than that.

For example, let us say under Fashola IGR was N20B per month. Let us assume a monthly allocation of N10B was made. This comes up to N30B. If the wage bill is N22B or more, it means what is left for capital project is N8B.

You should remember that many areas of development will need to be touched and as a result, resource allocations would be applied to ensure resources are evenly distributed.

It is not easy to lead, brother.

IGR was 20 billion x 12 = 240 + 10 billion x 12 = 120 billion

240 + 120 = 340 billion

....but the budget was always around N400 billion plus

So, they still have to borrow to make up the N400 billion budget

So, of what relevance is the IGR these unintelligent people make noise over.?

This is why I hate going back and forth with these ignorant people I swear.

I just don't have the patience.

They hear IGR and their head goes into goes into overdrive,

Why the comparison of someone who served 8 years with someone who is to be 2 years?

samfuntua:
Why the comparison of someone who served 8 years with someone who is to be 2 years?

The thread's title says Fashola's unmatched achievements, not Fashola Vs this or that person.


Read and comprehend again.

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Fashola was superb no doubt, only shitgbo thinks otherwise....Ambode is continuity

Mr.BABATUNDE RAJI FASHOLA, SAN. GOVERNOR OF LAGOS STATE, COMMISSIONS 1,966MM WEMPCO ROAD, OGBA


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Fashola built still the most beautiful and sophisticated bridge in West Africa.

Started and completed in less than 3 years.

A record for any government in the history of Nigeria.