Firefire:
Lagos State, had internally generated revenues of N384.25 billion, equivalent to 76.9 percent of its 2013 budget of N499.10 billion.

Lagos State also collect monthly 26.72% from the federation account, what happens to the allocation if Lagos already generated 77% through IGR?

Lagos State under Fashola raised Several Bonds and collected massive loans.

N50 billion bonds was raised in 2009

N87.5 billion bond under the Lagos State fixed rate bond (series 2), to execute the on-going construction of the blue line light rail project from Okokomaiko to Marina and expansion of the Lagos Badagry Expressway into 10 lanes

160 Billion Naira Loan from World Bank on same Line rail project?

The future of Lagos state is mortgaged till 2020 by ACN turned APC.

Shame on the people calling black white and claiming Progressive and inwardly they are rogues.


www.nairaland.com/attachments/2079472_bond_jpegee5029b54f8c3f4506eca5211525a140

Firefire:
Fellow Nairalanders, in response to Fashola comments below on not receiving enough support from the federal government to complete the Lagos light rail project.

[size=15pt]
"Fashola said all over the world, when cities and states build municipal rails like what Lagos is doing, their central governments support them morally and financially"[/size]

https://www.nairaland.com/2120455/cant-complete-lagos-light-rail

Few months ago same Fashola said this:


[size=15pt]Lagos: How We Spent N160bn World Bank Loan on Light Rail Project[/size]

The Lagos State Government yesterday justified the N160 billion it borrowed from the World Bank, noting that the fund was channelled to finance its light rail (blue line) project.

However, the state government expressed disappointment at the progress of the project, which it said, was not executed as smoothly as possible, but was optimistic of its completion.

The state Governor, Mr. Babatunde Fashola, said this shortly after inspecting the light rail terminus at the Orile-Iganmu part of the state alongside some members of the state executive council.

Speaking with journalists, Fashola said the project would have been completed in another 12 months despite that the project execution was not as smooth and speedy as he wanted it.

The governor raised questions on the intention of the federal government for publishing the state debt profile in the recent time, wondering what could have informed the decision to make it public.

He said: “I think it was the Debt Management Office of the federal government that published the report that we have a debt of about N160billion. I do not know the intent of the publication.

“But if it was to inform the public, I think we have always kept the public informed anytime we borrow money. If there are other intentions behind that, only those who make the publication would know what the intentions are.

“But you see, when people talk about debt of a state like Lagos, they forget that after Nigeria, South Africa, Egypt and one other country, we have the fifth largest economy in Africa.

“When you are talking of about a billion naira debt to a population of over 21 million people; because if you are measuring the debt, you also have to measure the responsibility. Those are the things people keep in isolation.”

He, therefore, explained that the state government already “has in place, strategies to repay the loan. The federal government was in the know of the state’s decision to take the bond and it approved it.”

[size=15pt]He added that the truth “is that what they do not also say is that no state in Nigeria can borrow money outside, from any multilateral agencies without the approval of the federal government.[/size]

“What they did not say is that they approved it. No state can raise money by bond the way we have done without the federal government’s approval. [size=18pt]Both SEC and NSE are all federal regulatory agencies through which we must pass. If they said okay, it means there must be something good about the debt.
[/size]

“Our rating as a state is the same as that of the Federal Republic of Nigeria, BB minus-stable with a positive outlook. We are the only state in Nigeria that has that rating. The first bond that was taken during my first tenure has been paid; the first tranche has been paid.

“I think the second tranche will be settled around 2016 or 2017. We are already making provisions. The provisions that will be there will be in excess of what is needed,” the governor said

Fashola expressed satisfaction on the progress of the light rail project, though decried the petty delay that was encountered as a result funding, saying the project would have should have been completed in another 12 months.

http://www.thisdaylive.com/articles/lagos-how-we-spent-n160bn-world-bank-loan-on-light-rail-project/188736/

eaglechild:
We can't complete Lagos light rail project

We obviously can't complete Lekki international phantom airport.

And you will be the biggest fool to think that we can complete Eko Atlantic.

Use your head people where do you think we are getting all the money we are using to sponsor Buhari


www.nairaland.com/attachments/2079192_fasholaa_jpegfc425dbc9482db4d2098e4dd5e8bee75

patmaine:


FG approves $242.2m IDA loans for Lagos " The Minister of Finance brought a memorandum seeking approval to obtain additional credit facility from the International Development Association in support of the Second Lagos State Development Policy Operation.

“The objective of the project is to improve on public finance in a sustainable manner and consolidate on the achievements recorded under the first phase of the project.

“The project covers the construction of a 27km light rail , construction of schools and the construction of Adiyan mini waterworks to provide two million gallons of water per day.

From: www.punchng.com/news/fg-approves-242-2m-ida-loans-for-lagos/

which other help abeg

dytbabe:
I am not a politician nor trying to promote any party
But lagos island is in a MESS

I came here for holidays and mehn, words can't simply express it

I was told this has been on for over 6months, ppeople dying and crying for help but non forthcoming
That water stinks

I am so angry, that I had to step out to take pictures.

Mogidi:


APC Rep Quizzed Over Death Of Two After Campaign Rally

A member of the House of Representatives, Olusegun Williams, had been quizzed by the Ogun State Police Command over the death of two residents of Erunbe, Ago Oko, Abeokuta, who were allegedly shot by the lawmaker’s police aides during his re-election campaign rally in the state capital on Wednesday.

The two victims, Mrs Taiwo Ganiyu and one Azeez, popularly known as Butter, died from gunshots allegedly fired by the police escort of the lawmaker.

Williams,who represents Abeokuta South Federal Constituency, is seeking re-election to the House.

Our correspondent gathered that he was quizzed at the police headquarters, Eleweran, for 11 hours, having arrived at 10am and left around 9pm on Thursday.

Pressure from the relatives of the deceased was said to have necessitated the lawmaker’s invitation by the police.

Williams has, however, denied that his police escort was responsible for the shooting, alleging that the killing was the handiwork of some fifth columnists.

He said he had left the venue of the campaign before some hoodlums invaded the area, explaining that he later learnt that some people had been shot, and they later died in the hospital.

He said, “After we finished our meeting with party leaders, the very important personalities left under heavy security.

“It was later around 6.30pm that I heard that two people were shot, and that they later died. I will reiterate that my security escort was not responsible for the shooting.”

The families of the victims had however failed to accept reports that they were shot by hoodlums.

They insisted that the police should carry out an autopsy on the corpses.

State Chairman of the Committee for the Defence Human Rights, Folarin Olayinka, had indicated the interest of the group in the case.

He said, “We are waiting for the report of the autopsy. We learnt it will be out on Tuesday. We have vowed to get justice for the families of the deceased.”

http://www.punchng.com/news/rep-quizzed-over-death-of-two-after-campaign-rally/

Sign agreement on no more killings, I will withdraw JTF, Jonathan to Borno elders
March 09, 2013







PRESIDENT Goodluck Jonathan yesterday in Maiduguri, accused Borno State Elders of playing to the gallary over the activities of Boko Haram Islamic sect insurgency in the state, describing the situation as unfortunate.

Jonathan spoke during an interactive session with Borno State stakeholders at the Multi-Purpose Hall, Government House Maiduguri, in continuation of his two- day working visit to Borno and Yobe States, the epicentres of Boko Haram.

He was responding to requests by the Elders for the Federal Government to grant amnesty to the sect members as well as withdraw the military Joint Task Force, JTF from Maiduguri and other areas in the state during the second day of his working visit to Borno State..

President Jonathan lamented that none of the elders in the state had publicly condemned the killings and bombings being carried out by the sect members and advised them to put their ‘’house in order,’’ by talking to their children who had been causing havoc in the country to drop their arms against the country.

- See more at: http://www.vanguardngr.com/2013/03/sign-agreement-on-no-more-killings-i-will-withdraw-jtf-jonathan-to-borno-elders/#sthash.0kJT6aMl.dpuf

Buhari faults crackdown on Boko Haram
JUNE 3, 2013

Presidential candidate for the Congress for Progressive Change in the 2011 Presidential election, Maj.-Gen. Muhammadu Buhari (retd), has frowned on the emergency rule in parts of the North. He alleged that innocent civilians were being killed in the states.

Buhari speaking during a Liberty FM Hausa Service Programme, Guest of the Week, on Sunday in Kaduna said that Boko Haram members were being killed and their houses demolished unlike the “special treatment” given to the Niger Delta militants by the Federal Government.

More from: http://www.punchng.com/news/joining-apc-not-about-2015-presidency-buhari/

I’ll meet other generals to draft anti-terror plan – Buhari

The Presidential candidate of the All Progressives Congress, Maj. Gen. Muhammadu Buhari (retd.), on Wednesday said that though Nigeria is a rich nation, its people are extremely poor due to bad governance.

He also promised to involve serving and retired military generals to devise an effective strategy to crush insurgency in the country, if elected as President in 2015.

More from: http://www.punchng.com/news/ill-meet-other-generals-to-draft-anti-terror-plan-buhari/

$90m loan spending: FOI Act not applicable to Lagos •Fashola tells court

Governor Babatunde Fashola of Lagos State has told a Federal High Court sitting in Lagos that he intended to file a preliminary objection challenging the suit by a civil society group, seeking to compel him to release information relating to how government spent the $90 million loan obtained for improving public schools in the state.

The state Attorney-General and Commissioner for Justice, Mr Ade Ipaye, at the resumed hearing in the matter before Justice Saliu Saidu, hinted of the government’s intention to challenge the suit, in addition to a counter-affidavit he earlier filed in opposition to the suit.

The Socio-Economic Rights and Accountability Project (SERAP) instituted the suit against Fashola and Ipaye, and prayed the court to compel the governor to disclose how the loan allegedly obtained from the World Bank for education in the state was spent.

SERAP had argued that it resorted to suing the governor and the Attorney-General after the government refused to honour its letter dated December 1, 2013, requesting for the information brought in pursuant to the Freedom of Information Act 2011.

But Ipaye had, in a counter-affidavit, opposed the suit, arguing that the FoI Act was not applicable to Lagos State, because the law was a federal legislation.

More from: http://tribune.com.ng/tribune-law/item/3266-90m-loan-spending-foi-act-not-applicable-to-lagos-fashola-tells-court/3266-90m-loan-spending-foi-act-not-applicable-to-lagos-fashola-tells-court

We are not bound by FOI Act, Oyo Government
April 1, 2013


More from: http://www.premiumtimesng.com/regional/ssouth-west/127787-we-are-not-bound-by-foi-act-oyo-government.html

itsdumebi:
Nigerian politicians are actually very innovative..we have to give it to them…as in..they can campaign with anything…lol!


www.nairaland.com/attachments/2249222_osinbinbin_jpeg36cc88de4ae7c1623ebbd534a6db7c58

ojuoluwani:
October 20, 2014

LAGOS State Governor, Babatunde Fashola, yesterday, gave a breakdown of how his administration expended the N160 billion World Bank loan it acquired, saying the state maintained a healthy debt profile.

Fashoa, who spoke during his commemoration of 2,700 days in office and achievements in the last 100 days, in Alausa, Ikeja, said long overdue refund would go a long way in reducing the debt profile of the State, which he said the Federal Government recently published to mislead the public.

He said, “Recently, our political adversaries issued statements that we have borrowed N160 billion. What they have not told you is what we are doing with the money.”

Enumerating his government’s activities within the period under consideration he said; “In the last 100 days, we have commenced work on providing street lighting on the Muritala Muhammed Way in Yaba.

This is 10 kilometres of public lighting which will be completed by the end of this month. On Eko Bridge, Carter Bridge, Ikorodu Road, Lekki-Epe Expressway and every street and highway where there is street lighting in Lagos, it is the Lagos State Government that supplied the poles, the bulbs, the diesel and the maintenance.

“The only major highway we are not managing for street lights is the 3rd Mainland Bridge.

Fire engines, to secure lives, rail transport from Okokomaiko to Marina, with four stations of eight kilometres completed, and work heading to Marina, with piles appearing near the Eko Bridge every day are the places your Government is spending money. The expansion of the Lagos Badagry Expressway to a 10-lane highway is another place where your Government is spending money.

http://www.vanguardngr.com/2014/10/lagos-spent-n160-bn-world-bank-loan-fashola/