moodswing:

Very intelligent.

It's just like Taking your 12 months salary upfront to solve today's pressing financial burdens which will leave you with a lot of money to spend today but without pay for 11months.

Maybe we should print enough money to buy all the dollars in US treasury right?.

Billyonaire:

He needs fiscal enlightenment and not chastisement. Educate him.

obitwo:

Can you show me one ...just one of your post that was every truly analytical?

LASG generates about N25bn in IGR monthly which is about N300bn annually

In addition, Ekiti State generates N1bn monthly which is N12bn annually making their debt to revenue ratio very ideal

moodswing: As an economist, I have consistently argued that Lagos is borrowing more than it should and also not investing on strategic developmental projects with real economic value on the short/long term.

Just like When Ngige was governor, he spent almost all the money the state had and borrowed just to finance wonder projects with no commensurate economic value. Just because we ignorantly see building of certain infrastructures especially roads as development, politicians use it to a grave advantage.

Gov't should be strategic in drawing up it's scale of preference before arbitrarily spending on fancy projects just because it's an eye candy that appeals to the ignorant sense of the ordinary people.

Billions were expended to plant flowers on bad roads, then Roads and bridges concessioned, because the state can't fund the project.

Rochas is another dude preying on people's ignorance. In a bid to fulfill too many bogus campaign promises, he has extensively borrowed to finance dubious and highly inflated projects.

Even Elechi of Ebonyi state is another sorry story not even worth going into.

Brazil isn't as fancy as the UK, but the economy of Brazil did surpass that of the UK. Making more appealing to investment than the UK which in return boosts it's economic potential and growth.

Lagos is politically astute but economically irresponsible. If Lagos state is well managed, in 7yrs, not only with she be without debt, but also become the Hong Kong of Nigeria. The potential is there but every economic decision is usually not without a greater amount of political undertone and interest.

God help us and give us the leaders we need not the politicians we want.

mbhs139: I thought the Lagos State Government has always and consistently argue that it can service and is servicing its debt?
By the way, is this not suppose to be a report compiled in 2011? Well, the picture painted might still be the same though, or may have even changed for the worse given past precedence in Nigeria's system of Governance.

Anyway, I want to believe Lagos is up to the task.

dazzy4real: As far as am concern this topic does not concern me!

moodswing:

Very intelligent.

It's just like Taking your 12 months salary upfront to solve today's pressing financial burdens which will leave you with a lot of money to spend today but without pay for 11months.

Maybe we should print enough money to buy all the dollars in US treasury right?.

moodswing: As an economist, I have consistently argued that Lagos is borrowing more than it should and also not investing on strategic developmental projects with real economic value on the short/long term.

Just like When Ngige was governor, he spent almost all the money the state had and borrowed just to finance wonder projects with no commensurate economic value. Just because we ignorantly see building of certain infrastructures especially roads as development, politicians use it to a grave advantage.

Gov't should be strategic in drawing up it's scale of preference before arbitrarily spending on fancy projects just because it's an eye candy that appeals to the ignorant sense of the ordinary people.

Billions were expended to plant flowers on bad roads, then Roads and bridges concessioned, because the state can't fund the project.

Rochas is another dude preying on people's ignorance. In a bid to fulfill too many bogus campaign promises, he has extensively borrowed to finance dubious and highly inflated projects.

Even Elechi of Ebonyi state is another sorry story not even worth going into.

Brazil isn't as fancy as the UK, but the economy of Brazil did surpass that of the UK. Making more appealing to investment than the UK which in return boosts it's economic potential and growth.

Lagos is politically astute but economically irresponsible. If Lagos state is well managed, in 7yrs, not only with she be without debt, but also become the Hong Kong of Nigeria. The potential is there but every economic decision is usually not without a greater amount of political undertone and interest.

God help us and give us the leaders we need not the politicians we want.

Billyonaire: Lagos State is owing almost 200 billion Naira ? Oh my Gosh, Rossikk was right oh. If you give Tinubu and Fashola access to the Presidency, then these APC guys will plunge Nigeria into blackhole of poverty.

Pattey: Observations

1- Lagos, Ogun, Osun, Edo, Ekiti are 5 of the former 6 states under ACN b4 the APC merger, how come they are in so much debt? That's like 90% of former ACN states. Could there be more or just a coincidence?

2 - Rivers is not listed among the 'indebted' states. Why aren't Amaechi's antagonists seeing that? Wonder how come some have been . . . Nvm; next

3 - For the states in chronic debts, are the ongoing 'transformation efforts' worthy enough to mortgage the future of coming generations? That's what it is, right?

Must so-called development come at a price of inhuman looting? Must we be robbed blind because we want change, progress, development etcetera?

If we believe it ok to be looted as long 'something is done', when shall we get there?

BigPhil:

One of the most insightful comments so far on this forum based on facts and empricism.Especially the one on Ngige and that clown Rochas.

Well done.

BigPhil:

One of the most insightful comments so far on this forum based on facts and empricism.Especially the one on Ngige and that clown Rochas.

Well done.