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Sincere 9gerian: I just read on todays ThisDay News report that the Lagos State Government plans to issue bonds totalling N87.5 billion before the end of the 2013 fiscal year to take over the concession rights of the Lekki-Epe Expressway from the Lekki Concession Company (LCC)When I saw this thread I honestly thought you were going to come up with something new. All you have dome is to rehash most of the nonsense and concocted lies you and your fellow PDP goons have being parroting on two similar thread on this forum. You are not interested in discussion of issues and facts because a lot of that have being done on this topic. In my view , what you come to this forum to do is propaganda to justify your pay to your paymasters. NB: if you are interested in proper discussion of facts, there is a thread here you can join, but I am not going to dignify you or the shameless distortion of facts with any meaningful discussion of this topic. |
owolabifunke14: Your thought? Time shall tell. Meanwhile,I employ you to visit Ondo statemy nest friend is from ONDO state. Indeed most of my friends right from great ife are from ONDO state. I understand ondo state politics very well. Mimiko , i will be the first to admit , is a consummate politician who understands how to play politics very well. but what mimiko has done in ONDO state are mostly cosmetic. To me, based on what I see on ground, his PDP Predecessor implemented more meaningful projects. But do not let us derail this thread. As far as am concerned labour will not amount to anything in the south west. Most of the defectors are PDP and like most PDP defectors will always return to their vomit :PDP. |
owolabifunke14: When last did you visit Ondo State? Because of people like you,I think I will post complete pictures of things on ground in Ondo.Labour party transformed Ondo state into a first class modern day state.it is not by buying tv slots to propagate falsehood,the governor of Ondo and Labour party works in a pace no one could equalyou mean ONDO state is now a first class modern state? Are you kiding me? is MIMIKO PDP or progressive or labour? you do not understand south west politics at all. MIMIKO is a very popular politician and that is why when he moved from AD to PDP all his supporters followed him. When he could not get what he wanted in PDP , he moved to labour and became governor. mimiko does have any ideology neither does he belong to any political tendency. He goes anywhere his bread is buttered. look don't be surprised if mimiko returns to PDP before 2015. he is already a Jonathan boy. check your history. south west politics does not work like that. what you have in ONDO state is not labour party but mimiko party. |
[quote author=maxwello.yg]Are you kidding me? Those 3 are very much important FYI. It seems you don't understand democracy is also all about NUMBERS which are important here. APC e-gladiator, shift abeg, why would people leave your party if it is not a failure? Shift, it is all about time and this silly marriage that resulted to birth of APC will break up.[/quote]To me, and to anyone who actually understand south west politics, this is actually a realignment of forces within OGUN PDP. After the election most of the PDP members that left as a result of the pre election crisis in the PDP sought to return because Daniel could no longer fund the ppn he found. the PDP people refused to accomodate them , so they have simply found accommodation t in a party that has ample room for political harlots: labour party. As far as am concerned, any political party getting rid of Daniel and his boys is gladly having a good riddance of bad rubbish! |
owolabifunke14: are u not d punk that called me a kid today when i said that Labour party will soon take over south west? Is happening now in ur life time. God bless labour party.labour party does not represent anything. Most politicians use it as fall back position when election is around the corner. Dariye, Andy uba, fayose, ifeanyi uba are just a few examples. Most of the people defecting in OGUN state are ppn and members of gbenga Daniel faction of PDP. south west politics is too sophisticated for the kind of political harlotry and crass opportunism labour party repsents. Most of the people you see defecting to labour party today will soon return to PDP the moment there goal is not realised. ask yourself this question: why would gbenga Daniel found a party ppn and then abadon it immediately after his protege could not win governorship and he Daniel after being governor for eigth years could not win a senatorial seat in hos native ijebu land? |
egift: PDP = Perfect Illegalitythis is normal with PDP. you better get use to it. It has happened before and it will happen again.. |
ImperialYoruba: Look here, are we talking about this same Uba?One is ifeanyi uba , the capital oil owner and the other one is Andy uba , Chris uba' brother. They are not the same person. But they represent the same values that have defined anambra politics for years. |
Billyonaire: Monumental fraud, The Agreement was to build the road and toll, but these fraudulent Governor and his predecessor did not finish contructing the road before they start tolling it. How can you use our money to construct the road and charge us for it, we own no stakes in the company but its our money that's being used for the road construction, and now Fashola has received another 7.5 billion in addition to the approximately 35 million generated EVERYDAY on this road.the agreement is, if you care for the truth was meant to be implemented in phases. I really do not think you understand the basic issues here, but all I see you do is the usual propaganda.it was not the govt money that was used to expand the phase toll was being collected for, it was the concession company's money. the buy back is to enable govt have better flexibility in terms of policy and involves the remaining phases of the concession agreement. what is obvious here is that the concession company that has borrowed money to carry out this agreement is having difficulty recouping it's investment and funding the. remaining phase of the contract being the first major concession agreement to even have being able to experience any modicum of sucess in this country, I believe important lessons have being learnt. the assertion you made that the state government has being ripped off of 7.5 billion is a complete deliberate lie except you are saying the concession company has not done any work with its own money. I agree that like every concession agreement between govt and the private sector, this one has its issues as well, but twisting facts and making wide allegations about fraud is complete nonsense . |
[quote author=Emperor_007]^^^ Fraud in the sense that, it's completely the primary function of the state to construct roads ( either through tax collected or other state revenue ). Secondly, do you know the minimum criteria that certifies a road fit for toll? Those are not what's termed alternative routes, for a road to be qualified fit for toll. They're roads originally constructed to take care of people living around those areas. Do you now, understand the difference? Meaning, the toll is a broad day extortion and fraud. And for the state government to keep mute till now ( Fashola pretending he doesn't know is fraud ), made him a party to this fraud. If you want to be honest to yourself, you're aware that, Fashola agreed to such venture because of the signature behind LCC. .[/quote]if it was why did the PDP federal govt made the same arrangement for the Lagos-ibadan expressway? why can't government build airports? why even partner with the private sector at all? Government should just do all things. Please tell me the minimum standard to certify a road is fit for toll. There are none. A road is fit for toll once a concession contract is backed by appropriate legislation. You are one of those people that still stuck in the past. Going by your warped logic that |
[quote author=t-something]since you couldn't answer my questions I asked earlier , let me reduce this concession fraud to the level you would understand . The concession agreement is supposed to run for an agreed period of time during which the concessioniare is supposed to construct and continuously maintain the road infrastructure for the period stated in the agreement . He is to recover his investments by tolls and other services on the road. Now coming back to Lekki road, the concessioniare isn't recovering any investment from the tolls , rather they are generating funds that would be used in constructing the road. Why am I saying this? You recover your investment if the road had been completely constructed , but in this case the road hasn't been completed yet users are being tolled. Now the Government wants to do something, wouldn't they have just cancelled the contract due to non performance / breach of contract by the concessioniare , rather they want to buy back the concession agreement with 7 billion . Ask yourself how much has the concessioniare invested so far on the road? How much have they generated by way of tolls and advert on the uncompleted road? So why are you still paying them 7 billion instead recovering money from them? My brother wake up and smell the coffee , Lagosians have been scammed by one of the greatest scam artists in Africa. By the way who tolls a road leading to a predominantly residential area without providing an alternative toll free road?[/quote]What precisely is the point of your post? Unless you have access to the details of the concession agreement contract,you are just speculating which is what i do not want to do here. I know that in most concession agreements the smart thing is to define it in phases to enable the concession company to start recouping their investment as the work moves along. Do not forget that a concession agreement involves a private company investing it's own resources upfront and wait for a period of time to recoup by collecting daily toll. it usually involves the management and maintenance. Unless you have a copy of the contract than like i stated earlier you are just speculating. believe me, you are the one confused here. Just tell me what the scam is here. it will be easier for any one to award a contract , and inflate it , use government money to execute it and smile to the bank.concession contracts are usually financed by international financial institutions and these people would not jeopardize their money without doing proper due diligence. |
marleymcintosh: Its politics as usual. Only God knows the reason behind this cancellation. Maybe LCC is cutting out some powers on collections...lolWhose money was used to execute the completed phases of the project? Govt or LCC's money? How long do you think it will take to recoup all the money invested by LCC? This discussion exposes the ignorance of many people. |
marleymcintosh: I wonder what cancelling of concession has to do with stopping tolling on the road. A majority of those who complain about tolling have never passed the corridor since it was built! Tolling the road is for public good as long as the proceeds return to the state government or the company holding the concession.Actually it seems to me some people here do not even understand what is being discussed. Once they see lagos state, tinubu or fashola's name, they jump on the bandwagon and start spewing senseless garbage. There is no cancelling of concession here. The right word is acquiring the existing concession rights. there are several reasons a government might want to do this. |
[quote author=Emperor_007]The toll has been a fraud from day one, and it's on record that Fashola is a party to this fraud. Where on earth does one collect toll, without having an alternative route first? .[/quote]What type of fraud. You mean someone who wants to defraud uses his own money upfront on a project that will take several years to recoup your capital talk less making profit? there are alternatives routes. check your facts. |
[quote author=t-something]You don't need to throw insults up and down to make your point. I asked simple questions and you are replying questions I never asked. My questions are these...... How many years will it take Lagos to complete a 50Km road that is tolled at every 10km interval ? Lagos spends over 500 billion annually for about 14 years, can you sincerely point out to infrastructures worth this amount? There are current plans to reduce the burden of Lagos ports (both seaport and airport ), this would result in decreased revenue , except the Govt increases the current tax burden , how do they intend to repay the 610 billion debt if by now that things are good, the govt is still planning to increase its borrowing ? Those simple questions you couldn't answer, yet you went about insulting your parents who couldn't teach you how to argue objectively in a public forum .[/quote]i answered your questions but you did not understand. so i will try again. How many years will it take Lagos to complete a 50Km road that is tolled at every 10km interval ? The number of years it takes to build any particular lenght of road depends on a good number of factors that i as outsider cannot answer. Lagos spends over 500 billion annually for about 14 years, can you sincerely point out to infrastructures worth this amount? haba. in 1999, the entire lagos budget was 1 billion naira only.Even though this increases every year as a result of superb economic management of the tinubu / fashola administation , it only came to 492 billion this year. secondly, the budget of a state does not go into building infrastructure alone( workers salaries,recurrent expenditures,education, health, environment etc) are included. so your question makes no sense whatsoever. thirdly,The fact that you budget a particular amount in a year does not mean that you will realise that same amount.(while the budget performance of the tinubu / fashola administration avarages 65% in the past fourteen years, the PDP federal govt has being abysmally less than 30% on the average.) There are current plans to reduce the burden of Lagos ports (both seaport and airport ), this would result in decreased revenue , except the Govt increases the current tax burden , how do they intend to repay the 610 billion debt if by now that things are good, the govt is still planning to increase its borrowing ? The statement 'There are current plans to reduce the burden of Lagos ports (both seaport and airport ), this would result in decreased revenue' makes no sense to me. are you saying that the government is planning to reduce economic activities in the lagos and apapa seaport? What percentage of duties from ports and airport which is collected by the the federal government comes to the lagos state government? A government that increases its internally generated IGR by nothing less 200% every year for the past fourteen years and that is projecting 40 billion monthly IGR within the next two years does not have to worry about a debt profile of 610 billion. The important thing is to continue to invest in infrastructural development,security etc in order to continue to attract private sector investments(which is the major engine of growing a mega city world wide). The state of new york and California in the US are richer than most countries and still carries debts totalling billions of dollars. I hope i have now answered your questions. |
awhagwan: Must you display your stupidity so publicly? LCC came into being in 2006, and does not belong to the Chaghoury's. They hold a small stake in Hitech. That's it.Honestly you are the one displaying crass stupidity here. LCC is only a vehicle for the concession arrangement. The company is owned by hitech and like i wrote earlier have been in existence far long before the tinubu government came into existence. The incompetent and inept PDP federal government took three years to realise that bi-courtney could not perform on the lagos- ibadan expressway. No single work was done for three years! You cannot compare this to a situation where LCC performed and has built to the terms of the concession contract.Hitech has already performed whereas bi-courtney did not perform.There is no room for comparison. What the lagos state govt soughts to do is a buyback for better policy laxity which is usually allowed for in this kind of arrangement world wide. |
Sincere 9gerian: This smacks of incompetence, ineptitude, inaptitude and cluelessness on the part of Fashola and the Lagos State Govt.honestly I can't believe you can post this kind of nonsense. Please read the thread you are responding to. financial close on what? it is a buyback we are talking about here. The PDP govts from obj to Jonathan screwed up on one comcession arrangement to the other and you want to talk about incompetence where it does not apply. |
Billyonaire: Not really, LCC is actually owned by Tinubu and Fashola via their Surrogates, what happens is that the Eko Atlantic City, which they own majority of, is a better investment for them, so they are looking for a way to get more funding from state funds to push the construction, so it becomes necessary for them to let go the Toll in exchange for the billions and use the billions on the Eko Atlantic Project and Free Trade Zone project, its all thievery.this is probably the most idiotic thinking I have seen for a long time. TINUBU and FASHOLA owns LCC an imternational construction company in existence for years. they then borrowed money from foreign banks to build an infrastructure where by it take a minimum of ten to fifteen years to recover their money. How can anyone be this stupid? for your infor, ation, the elo Atlantic city is 100 % percent private sector driven. |
[quote author=t-something]N507billion Budget , yet a 50Km road with toll gates at every 10Km could still not be completed 8 years after? Even with an already huge debt profile of 610 billion , Bros Fashola just announced he will have to borrow more. Lagosians can you guys boast of 500billion infrastructure X 14 years? By the time Fashola and Tinubu finish with you guys, your unborn generation will still be paying these huge debt, don't forget unlike South South states that depend on oil for their allocations , Lagos depends on businesses due to its strategic position as a major entry point into Nigeria, and with the diversification of these ports, like proposed Ibaka seaport and now Akanu Ibiam international airport , Lagos may have to share patronage with these cities hence reduction in revenue . So how does Fashola intend to repay 610 billion (and still counting) debt?? This a question sensible Lagosians should ask[/quote]first, you show complete ignorance or deliberate mischief right of the bat by not understanding what budgets are and what a concession arrangement is. basically, the big idea behind the lekki concession is to transit from infrastructural development to investment. of is the concessiomaire's money that builds the infrastructure and manages it for a given period of time to recover its money and make some profit. there is no govt money involved and therefore no budget.. the second incredibly stupid part of your post is the implication that the entire budget of Lagos state for the year was meant fto build or buy back the lekki expressway. The actual figure for the buy back that the govt is seeking a supplementary budget for , even when clearly stated , is invisible to you. please let us have a proper discussion on polo y matters and stop all this obsession with tinubu. it seems this obsession is beclouding your thinking and making you write meaningless jargon. |
Billyonaire: Not really, LCC is actually owned by Tinubu and Fashola via their Surrogates, what happens is that the Eko Atlantic City, which they own majority of, is a better investment for them, so they are looking for a way to get more funding from state funds to push the construction, so it becomes necessary for them to let go the Toll in exchange for the billions and use the billions on the Eko Atlantic Project and Free Trade Zone project, its all thievery.iif you check your records LCC owned by the chagouries has been in the Nigerian construction industry since the early nineties. A concession arrangement involves a company using its own money to develop infrastru cture and then recover its money over a given period of time after which the infrastructure reverts back to the govt. Usually with these contracts is what is called a buy back option which apparently Lagos state is now trying to exercise for wider policy option. Interestingly, the PDP controlled federal govt has failed severally in every since concession projects they ever attempted and I can understand how very ignorant and misguided people who lack the capacity to make meaningful contribution to POLICY discussions end up coming here to expose their crass ignoramce and stupidity. |
Atouke: The lagos state house of assembly and the state justice department is sleeping. or Are they in tinubu's pocket or afraid to try him because hes connection and wealth.if you are not a compote idiot you will know that as a citizen you can write a petition to EFCC if you have any proof to substantiate your assertion. TINUBU is a former governor therefore does not enjoy any immunity for the last six years. All this rubbish allegations has being in the public domain for the past years. TINUBU has never being tried talkless of being convicted of corruption .alams is a personification of corruption, and he has been pardoned by the chief oil thief of Nigeria. |
bilms: The only politician worthy of model in Nigeria is Tunde Bakare. A completely sincere and truthful individual who had and still has Nigerian masses first in his heart with no hidden motive. God bless pastor Tunde Bakare.Is bakare a pastor or a politician? You got it wrong right from the title of the thread. The qualities that makes a good politician is not, in fact, can be diametrically opposed to the qualities that makes a good Pastor. You cannot have the calling to be the pastor of a church and as well as the calling of a politician at the same time and not experience spiritual and intellectual conflict as pastor Bakare often does. |
[quote author=james_ibor]Contrary to the general notion here that the formation of this new party will weaken GEJ's chances of winning the next presidential elections, the opposite is actually the case as these new parties ie APC, PDM and the one being fronted by these set of governors are much likely to field Northern candidates thereby splitting northern votes among the various northern candidates and leaving GEJ to carry the day.[/quote]contary to your conclusion, the north we present only one candidate regardless of party afiliation. the problem with most of us southerners is that we always underestimate the political sophistication of the northern political elite. |
oyb: Unlike jarus and oam4j afam has a history of abusing his position. While jarus and oam4j were appointed as mods based on meritan afam was engaged solely to pacify ibos. Under afam, this section has gone from bad to worse. With such antecedents, do you wonder why there is apprehension?Precisely the point: abuse of power. If AFAM does not have the power to hide post if AFAM does not have the power to determine the power to determine what thread goes to front page If AFAM does not have the power to ban ( including up to 2056!,) then I honestly do not care if AFAM is the second Reuben abati on NAIRALAND. he could even be the okupe to sincere9nigeria for all I care. my concern is the fact that he has consistently abused these powers to advance his position and witch hunt those opppsed to those positions. |
gramci: please help me ask the shameless bigothas he openly declared such stance on this forum.? to me, it is the height of tactlessness and arrogance for someone who is expected to play the role of an unbiased umpire. it is like a referee in a match declaring open support for an opposing team in a match. Could the other team still have any confidence in any call he makes? |
Prof Corruption: There's nothing wrong in expressing opinions or taking sides. I appreciate people that do such because you always know where they stand on any issue. There's no such thing as "I'm neutral", one always has an opinion whether one chooses to express it is another thing altogether. Afam is free to vote for PDP.Just like nobody expects inec members to be apolitical (that is they are not politically neutral) but come out and declare support openly when your job entails adjudicating disputes between two opposing sides. can you be a judge in a matter you have already taken a position? What this goes to show and calls into serious question is afams maturity and sense of judgement. any objective observer on this forum knows his biased positions. But to come out and openly Declare of when he is still a mod on the same forum shows a lack of judgement and arrogance. |
ThankGod Edeh: P.D.P I know, GEJ I know, what is APC?And indeed PDP baptized you with poverty and corruption unto backwardness. But this APC that cometh after PDP (is gone in 2015) shall baptize you into with development and progress. |
chairman: Who is the progressive and who is the democrat? I have not seen the difference between pdp and apc. This is a classical example of the devil and the deep blue sea. Between the devil you know and the satan you don't know.Before: the only option we had is the devil we know. Now: there is an angel we do not know in addition. So we now have a choice between the devil we know and the angel we don't know. The beauty of this is that the devil we know(PDP) can no longer act with impunity because we now have a choice! |
[quote author=wogor@paradise]my dear better said than done, watch out 2015 will be christain versus muslem, then we will knw the religion that is more in number, reasons, take a look at apc all their principal officers ar muslims as such their presidential candidate will also be one. That will make the war easy, becos paul will be seperated from banabas, nb am not big fan of pdp so dnt get me wrong[/quote]This religious sentiment is all jonathan and his supporters are banking on come 2015; but they will be faced with sour disappointment. I know of many chrisitians( including my good self) who would not vote for jonathan simply because he is christian. |
KenGali: Oh come on are you not happy. If not too bad.You don't get it! Once he participated knowing those conditions and subjected himself to them, he has validated them. he cannot later repudiate the terms of the agreement. In any event, who becomes the candidate of APGA and the standards such person must meet is APGA's business. As for those of 'us routing for ngige not seeing the court angle coming', you miss the point. What we did not see coming was the disqualification of soludo by APGA! After that we knew the damage(to soludo and APGA) is permanently done. All that we are now seeing is soludo and his supporters( in nairaland) living in denial! |
Nkanuzu: This is all about putting a round peg in a square hole. Why seek a legal solution to a political problem? Even the supreme court had advised litigants/politicians to always seek political solutions to their problems rather than judicial solution where the issues are purely political. See the case of AG Rivers State V. AG Federation! lol. Even if Soludo wins in court, it will be a mere academic exercise because the people that disqualified him hold the key to the party's structure and will ensure he looses out in the primary election for dragging the party to court.For example: Ararume won PDP 2007 primaries in Imo state. PDP disqualified him. he went to court as far as the supreme court. The supreme court re-instated his candidature. Ararume participated in the election as PDP candidate and lost to ohakim of PPA even though PDP won(?) everywhere else in imo state |
[quote author=Adviser.General]Don't forget in a haste the Rotimi Amaechi vs Celestine Omehia saga. Amaechi was disqualified by PDP spearheaded by the powers that be i.e Peter Odili the incumbent then, Austin Opara Deputy Speaker, Timi Alaibe etc, he fought back by seeking redress in court. He finally won even after Omehia has been sworn in as the governor. Soludo is on the right track. Even if he doesn't win in the primaries, atleast he should be given the opportunity to exercise his constitutional right.[/quote]please don't get it twisted. Amaechi had already won the PDP primaries before he was disqualified. In the case of Soludo, the party defined a set of guidelines for screening those you will be fit to contest their party primary. Soludo knowingly participated and subjected himself to the rules set by the party. prior to engaging he was availed with the terms of the engagement[/b]t. In full [b]awareness of the implication, he accepted to participate if he has problem with the guidelines and conditions set by the party why did he subject himself to it? The same party that set the guidelines determines that soludo does not meet the conditions they set for those who can participate in their primary. What soludo is asking the court to do is that having agreed to the terms and having participated to be screened on the basis of the terms,he now wants to contest the legality of that same guideline! |
[quote author=Adviser.General]Don't forget in a haste the Rotimi Amaechi vs Celestine Omehia saga. Amaechi was disqualified by PDP spearheaded by the powers that be i.e Peter Odili the incumbent then, Austin Opara Deputy Speaker, Timi Alaibe etc, he fought back by seeking redress in court. He finally won even after Omehia has been sworn in as the governor. Soludo is on the right track. Even if he doesn't win in the primaries, atleast he should be given the opportunity to exercise his constitutional right.[/quote]please don't get it twisted. Amaechi had already won the PDP primaries before he was disqualified. In the case of Soludo, the party defined a set of guidelines for screening those you will be fit to contest their party primary. Soludo knowingly participated and subjected himself to the rules set by the party. prior to engaging he was availed with the terms of the engagement[/b]t. In full [b]awareness of the implication, he accepted to participate if he has problem with the guidelines and conditions set by the party why did he subject himself to it? The same party that set the guidelines determines that soludo does not meet the conditions they set for those who can participate in their primary. What soludo is asking the court to do is that having agreed to the terms and having participated to be screened on the basis of the terms,he now wants to contest the legality of that same guideline! |
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