hustla: yayyy

ogun state isnt there!

ogun o ni baje ooo !!

Lagos haff soon wantu baje ooo !! now wey them don ban molue now..

*starts trekking from Ikeja to V.I*

Ogun is not there? Maybe you should read the article again. . .

Borrowing is good if spent on developmental projects. its just like you borrow in a company where you work or from a group's contribution to stock up your shop while you continue to make your contribution as a member of the group. Its not a bad idea at all. I know Lagos state government has been investing in long term projects as the railway,Lekki and expanding infrastructures but the problem in borrowing is if such funds are not pumped into areas that will lead to more production like serving salaries and co.
If as I am I can get an organization to borrow me money for a 5 year period to do business at good rate I will jump at it because it is hoped that such ventures that the money will be used for will bring in money.By the time Lags begin to rake in money from its projects, all the debts will be gone.
However there is the impact of the political class, I have a strong belief that up to 40% of Lagos IGR will be unreported an many will pass up as bribes but its up to the government to block holes within its own system.
While Lagos have more population than New York city, its revenue is nothing near what the latter generates because the larger chunk of revenues from Lagos goes to Federal and there is no 13% derivation as obtained for oil producing states.So for Fashola to request for a special status is justified in this way. Lagos generates more money than any state in Nigeria but a whole lots go to Fed but that is not to say that Lagos state government which also needs to be more fiscal responsible.

seanet02: Arrant nonsense!
How can you decide the debt to revenue ratio without including the IGR?
Du.mb people are always in charge in this country.

If i were u i will commit suicide bkos no life. Wat is fashola doing with the money?

willycrown: Unfortunately, the current indebtedness of Lagos is worse than reported in that report. As at June this year, Lagos State foreign debt profile alone is $865,531,142.12. (http://www.dmo.gov.ng/oci/subn/docs/States%20and%20FGN%20External%20Debt%20Stock%20as%20at%2030th%20June,%202013.pdf)

Even According to Lagos State DMO, The state's indebtedness as at the end of 2012 was N338,980,000,000 ( https://www.google.com.ng/search?q=domestic+debt+profile+of+lagos+state&ie=utf-8&oe=utf-8&rls=org.mozilla:en-US:official&client=firefox-a&gws_rd=cr&ei=1MYpUpjHEabB0QWQnYHgA)

For those saying the debt is sustainable, kindly note the percentage of the state's revenue being allocated to debt servicing. It has increased from 8.9% in 2008 to 20% in 2013.

oboiii,d debt dey increase every day.Wat is d HUGE IGR used for.For flowers?

seanet02: Arrant nonsense!
How can you decide the debt to revenue ratio without including the IGR?
Du.mb people are always in charge in this country.

the igr was factored into the revenue profile so pls think with your head and not your anus before writing

willycrown: Unfortunately, the current indebtedness of Lagos is worse than reported in that report. As at June this year, Lagos State foreign debt profile alone is $865,531,142.12. (http://www.dmo.gov.ng/oci/subn/docs/States%20and%20FGN%20External%20Debt%20Stock%20as%20at%2030th%20June,%202013.pdf)

CHINEKE MU E !!!

kayci_d77:
CHINEKE MU E !!!

LOL. Enyi odi ka onye obula ga a kwarazie ngwongwo ya laa.

Where is Eko Ile to debunk all this with that picture of Fashola and white men
Hehehehe
Who knew it was all mouth
What is he doing with all the levies his men are swindling off traders and motorists and transporters
The wind has blown
He will soon use all the flowers he planted at a cost that could have provided drinking water for the whole state to make ewedu soup

All these people are thieves
Every single one of them
The Association of Con men of Nigeria may be worse that we thought aka ACN

babyosisi: Where is Eko Ile to debunk all this with that picture of Fashola and white men
Hehehehe
Who knew it was all mouth
What is he doing with all the levies his men are swindling off traders and motorists and transporters
The wind has blown
He will soon use all the flowers he planted at a cost that could have provided drinking water for the whole state to make ewedu soup

All these people are thieves
Every single one of them
The Association of Con men of Nigeria may be worse that we thought aka ACN

Dumb Girl...

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.

As long as they and their wards are using the borrowed cash to patronize traders in Ladipo and Alaba,computer village etc
I say more grease to their borrowing fingers
I am not complaining
Eko Oni freaking baje o

This are the states that are mortgaging the future of their state with loans.

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

You mention Lagos and Ekiti, I know the angle of you view, it is a blind angle clouded with tribe and APC politics.

seanet02: Arrant nonsense!
How can you decide the debt to revenue ratio without including the IGR?
Du.mb people are always in charge in this country.

chief gani senior advocate of fashola if u speak gramer finish go pay ur debt.oni igbesai