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Nairaland Forum / Nairaland / General / Politics / Lagos Is Owing N124b (7014 Views)
Abia State Is Owing Civil Servants 10months Salary / Why I Am Owing 13 Months' Salary - Okorocha / Attention: Ward 022, Ejigbo Lagos Is Being Rigged (2) (3) (4)
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Re: Lagos Is Owing N124b by olyivy(f): 11:28am On May 21, 2011 |
temmytanny:Another Yoruba almajiri. Where did you read about Yoruba mentality on my post? Anu mpama! |
Re: Lagos Is Owing N124b by OmoTier1(m): 11:41am On May 21, 2011 |
temmytanny:just an observation, the USA debt profile is almost $14trn and not $2.4trn. Obama's 2011 budget deficit alone is over $1.4trn. But in all I agree with your reasoning. Personally 'm surprised the debt profile is that small! Anyway, we need more details as to the percentage of the debt profile that are 'performing' or 'slag' so we know how much burden the state we carry in the short term but in the long run, i think lagos is well positioned for a healthy economic performance. If only Ogun could properly position herself to leverage on this economic vibrancy lagos is about to experience i.e. creating a hub for manufacturers for the long term as 50years from now, from all indicators, 56% of lagos economic activities will be what we call 'paper service' based and there will be the urgent need for other states close by to fill this gap and unfortunately, I am yet to see the state that has done this. In all, kudos to Fashola, and all those who have ensured that openess, accountability and purposefulness is part of the policy trust of his government and I hope better news than these will be what lagos will experience in the next 4 years. <Meanwhile, good citizens of Lagos State, pay your taxes and demand your legislator, councillor and local government chairperson delivers quality projects in your locality > Get yourself ready for more peaceful protest as the spirit of fashola must be replicated in all other elective officers in Lagos State. I wish lagos well. |
Re: Lagos Is Owing N124b by felele(m): 11:55am On May 21, 2011 |
The following caught my attention from the 234next.com article posted by the op. It does make sense o, and I'm bloody scared of the tax collectors for the next four years. What the hell are they doing with the money sef ![]() [b]Posted by Daniel on May 20 2011 This figure is incorrect. I watched a PDP gubernatorial aspirant give the correct figures on Silverbird TV a few months ago. He said the state has earned a total of N240b per year since Fashola started. I checked. It's true. He said the state has budgeted over N400b per year since Fashola started. I checked. It's true. He said Fashola himself claimed over 80% budget compliance every year since then, meaning they spent over 80% of N400b every year since 2007. That means they've spent at least N320b every year while earning a maximum of N240b every year, thereby leaving a debt overhang every year of about N80b. Last time I checked, N80b x 4years is equal to around N320b. We also know about the N50b Infrastructure bond, bringing this figure to N370b. Plus the N50b foreign debt, which is the cheapest of Lagos State's debts right now. Lagos actually owes, under Fashola alone, the sum of over N420b. They refuse to tell us the debt inherited from Tinubu, so we can only speculate on that one. Rumour has it that Tinubu's debts of over N180b was the reason Fashola embarked on an aggressive tax campaign, which he's going to intensify in this regime. May God help us Lagosians.[/b] |
Re: Lagos Is Owing N124b by temmytanny(m): 11:56am On May 21, 2011 |
Tanx for the correction. I was meant to write $12.4tr. olyivy: tanx lady assss in the hole. PUTA! |
Re: Lagos Is Owing N124b by temmytanny(m): 11:58am On May 21, 2011 |
felele: Your calculations are wrong bro. the N240B is only from IGR . What of Federal allocations? |
Re: Lagos Is Owing N124b by Obiagu1(m): 12:07pm On May 21, 2011 |
If Lagos can't pay up, sell the state! |
Re: Lagos Is Owing N124b by aljharem3: 12:09pm On May 21, 2011 |
why is this thread being dragged like this 1. Tinubu is a big thief and in an good country, he shoulod have being arrested since 2. Fashola is taxing lagosians to make infasturtures for the state 3.) the money in lagos is more than the money in dept ![]() |
Re: Lagos Is Owing N124b by aljharem3: 12:10pm On May 21, 2011 |
Obiagu1: to who ? |
Re: Lagos Is Owing N124b by KnowAll(m): 12:10pm On May 21, 2011 |
I[b]nteresting to note that the speakership in Lagos is embroiled in a 7 billion scandal. Whilst the Federal Republic's Speaker is embroiled in a 10 billion scandal. it would appear Lagos State is a Republic within a Republic, they seem to generate the headlines with jaw breaking figures associated with the centre, looks like being a commissioner in today's Lagos would soon be a lot better than being a minister in Nigeria. Lagos is generating some jaw dropping and envious amount of money, it is a shame the cap in hand and ardent clamourer for more funds igbo Governors of the East and the born to rule Hausa/Fulani of northern Nigeria cannot share in the booty of Lagos they would have to contend themselves with the meagre Federal allocation from Abuja or die trying to rid themselves of poverty and deprivation. Lagos carry go jare, but those in power should remember to carry the poor along. No wonder Afikuyomi is enjoying his commissionaire in Lagos State from what one would have thought was a higher position in the Senate. Some of the spoils of his new job amongst others was buying an abandoned ferry in London with the intention of making it into a 5 star hotel, we all know what happened to that dilapidated ship, it is presently marooned on one of the numerous creeks of Lagos without any future use in sight but you bet it some people have made a killing and are smiling all the way to the Bank, and did I hear someone say the God Father(Tinubu) is not a beneficiary of this scam that person must be on Kai Kai or Ogogoro[/b] |
Re: Lagos Is Owing N124b by Obiagu1(m): 12:11pm On May 21, 2011 |
alj_harem: I can find buyers. |
Re: Lagos Is Owing N124b by jmaine: 12:28pm On May 21, 2011 |
Obiagu1: We will sell it and use a minute percentage of the proceeds to purchase your entire state and send you guyz parking to the core north where they have more than enough land mass to accommodate all ![]() ![]() ![]() ![]() ![]() ![]() |
Re: Lagos Is Owing N124b by chino11(m): 12:30pm On May 21, 2011 |
Obiagu1: Even a single Nnewi manufacturer or an importer in Onitsha can buy lagos and have change. I have always know that fashola is a rogue criminal. He and tinubo has killed that state called lagos. Fashola has underdeveloped the state, he only plant flower and paint road kerbs. Madam Waziri should place fashola on survellance ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
Re: Lagos Is Owing N124b by aljharem3: 12:39pm On May 21, 2011 |
Obiagu1: ok 900 trillion for half the land assumming 1 hectare in lagos is 70 million naira but borno is a lot cheaper and then you guy can come and coloniaze us it about 50-100 thousand per plot |
Re: Lagos Is Owing N124b by felele(m): 12:41pm On May 21, 2011 |
temmytanny:s The calculations are not mine, my sister. But the bobo is correct sha o. I'm sure I heard Fashola say that they make N14b from IGR and N6b from federal allocation. That's N20b per month. N20b x 12months = N240b. Simple Arithmetics. |
Re: Lagos Is Owing N124b by dustydee: 12:48pm On May 21, 2011 |
if the money was properly utilized then no worries. The projects should pay up the debt in time. America owes trillions of dollars and the world hasn't ended. |
Re: Lagos Is Owing N124b by OmoTier1(m): 1:10pm On May 21, 2011 |
felele:I am baffled that you not only failed to 'see'the flaws in that posting but you went a step further to claim it was simple arithmetics! - product of the failed education system in Nigeria. Let me give you some tips; How much was budget for debt servicing by the Lagos State government throughout the 4years your analysis encompassed?Or did Lagos not service any of her debt in the last four years? |
Re: Lagos Is Owing N124b by olyivy(f): 1:14pm On May 21, 2011 |
dustydee: Now how do we know if it was properly utilized. When we cant even ask question about Lagos without agberos like eko ile and his elder brother babapupa attacking us? Howwww ![]() |
Re: Lagos Is Owing N124b by tofeenab(m): 2:03pm On May 21, 2011 |
Am really shocked! Hope this is the real figures! Tinubu took us to this same part, now Fashola. How much of this debt was inherited And how much was incurred during his(Fasholas) tenure? World Bank giving Lagos state Govt loan to support the Budget? This is to put it mildly! It mean WB is supporting a bloated budget which has been desined to continue to be in deficit till 2013! Is the commissioner saying that after 2013 we will have budget surplus and the debt profile will reduce? QUESTIONS, QUESTIONS, & QUESTIONS begging for Answers! |
Re: Lagos Is Owing N124b by ak47mann(m): 3:14pm On May 21, 2011 |
olyivy: ![]() ![]() ![]() ![]() ![]() ![]() |
Re: Lagos Is Owing N124b by EkoIle1: 3:45pm On May 21, 2011 |
KnowAll: Afikuyomi didn't buy any boat and the state didn't either, Diamond bank bought and is the owner of the boat. Stay with the facts and stop spewing rumors. |
Re: Lagos Is Owing N124b by JimmyBoy1: 3:58pm On May 21, 2011 |
We can not constructively debate this thread without having other relevant info like: Whether the loans were used for capital or recurrent expenditures. Risk Profile of the projects involved and expected benefits. Wether value for money was observed. The repayment Plans Wether the loans are self liquidating. |
Re: Lagos Is Owing N124b by KnowAll(m): 4:02pm On May 21, 2011 |
Afikuyomi didn't buy any boat and the state didn't either, Diamond bank bought and is the owner of the boat. Stay with the facts and stop spewing rumors I[b]nteresting to note how our tight fisted Nigerian Banks who would not give you a dime for a genuine project, if you are not a "somebody" would embark on a spurious and fairy buy of a broken ferry from Britain. I beg try another line of defence, that one would not hold water, the whole scam was an avenue to launder money out of the state and it was cleverly done to the letter. Kudos to " God Father" Tinubu, his stay in Chicago was for nothing he really gained a lot[/b]. ![]() |
Re: Lagos Is Owing N124b by EkoIle1: 4:15pm On May 21, 2011 |
KnowAll: I thought we're hear to debate with facts and not with rumors and made up stories. There's absolutely nothing to gain if all we do is spew rumors and what we can not back up with facts, it defeats the purpose. You know it was an avenue to launder money money because you have access to the scam, you have the papper work or you are just part of the deal? Just how did you get the info that you are beating your chest with? Can you take that nonsense to any court of law as proof of wrong doing? |
Re: Lagos Is Owing N124b by ogunbado: 4:40pm On May 21, 2011 |
I weep so much over my nation. If some people can start celebrating this man called Tinubu, then we are doomed for good. Fashola would have done better if Tinubu had left him alone. Before we start to judge Fashola and ACN, we should seek the opinion of the down trodden masses in lagos state who has no access to Internet or any forum to make their opinion known. Does everybody living in lagos state lives in V.I, Ikoyi, Lekki or VGC? Please, the revenue lagos state is generating in a month is more than the monthly allocation of the remaining 5 yoruba speaking states just because it has always been a federal capital city. What the government is doing now is maintainance and expanding the main major road for BRT buses and lots of beautification which is good but Tinubu is even more corrupt than IBB. By the time Lagos state is being governed by another party, Lagosians will carry stones and whatever to stone Tinubu to death. Why do they need to borrow when what they are generating is more than enough to do the necessary uplift of all sectors. Please go and check the most expensive hotel in Nigeria ( ORIENTAL HOTEL ON LEKKI ROAD) through Google, it is owned by Tinubu, where did the money come from? Now Tinubu has come to open Alpha Beta company in Ibadan to milk the little honey that poor state is generating.May God deliver us |
Re: Lagos Is Owing N124b by ogunbado: 4:58pm On May 21, 2011 |
@Eko Ile, can you tell us how much debt Fashola met on ground in 2007 and what is the debt being owned at present and how much loan has been paid since. It is very important for us to know before you start to celebrate the most corrupt God father of our time, Tinubu. How many of the local roads in lagos state has been constructed in the last 12 years of ACN governance in Lagos State? Can you tell us how many of the intercity roads has been constructed or the inner streets in the main roundabout Lagos not to talk of inside Badagry, Epe or Ikorodu? Im very sure Tinubu and his boys has more than enough Alfa to be praying for the eyes of the lagosians not to be opened till thy kingdom come and im sure they must be using flower to do the voodoo. Because they have succeeded in using flowers to deceive Lagosians while the people living in Ajegunle, Maroko,Iyana Ipaja, Dopemu, Agege, Alakuko etc and the suburb are living in abject poverty with pot holes on their road, God save them now that rain has come |
Re: Lagos Is Owing N124b by hercules07: 5:06pm On May 21, 2011 |
Debt in itself is not a big deal if it is being used for the purpose it was taken, Fashola is building the Marina -------> Okoko axis, do people think he is using sand? Meanwhile, our FG will be borrowing 2.1trillion naira for 2011 budget and most of it will go into recurrent expenses, abeg let the Yoruba, ACN, Tinubu and Fashola haters go and find something better to do. |
Re: Lagos Is Owing N124b by MeandSum: 5:10pm On May 21, 2011 |
Guys, most companies don't pay taxes in Nigeria. and 90% of individual pay no tax! That's the fact. |
Re: Lagos Is Owing N124b by ogunbado: 5:23pm On May 21, 2011 |
@Hercules, Do you realise that Lagos is collecting federal allocation and generating lots of revenue from Lagosians? This is not about hating Tinubu, ACN or Fashola but facts. Im sure you are not from Lagos state so definitely your generation can never be a partaker of the Loan repayment. We rubbish Oyo state governor because we believe he is not doing anything or because we believe in media propaganda. That governor has come out openly to say he is not owning nobody and he never borrowed through out his tenure and he has been able to touch every knooks and crannies of that large state. Even our new governor has acknowledged him for his good work. Lagos is full of media propaganda and until Tinubu leaves our ACN governors alone, they can never work in peace, now Ekiti and Osun state are borrowing without doing much , they have to pay back the loan they borrowed from their God father Tinubu for election, May God deliver Yoruba land from this most corrupt politician of our time. Was Baba Awolowo like this? NEVER |
Re: Lagos Is Owing N124b by EkoIle1: 5:26pm On May 21, 2011 |
ogunbado: I can not help you with your Tinubu problem since you can not go to any court with your silly rumor and get a conviction, you also are not giving me any credible proof of wrong doing and instead of bothering me with your nonsense, take your case against Tinubu to the EFCC if you have any. All your internet market mowen rumor is nothing buts a waste of time. If you have any kind of serious desire to know how many roads or projects implemented by the state, go to the stae's website and find out, it's listed there, stop being lazy. |
Re: Lagos Is Owing N124b by gernded(m): 5:31pm On May 21, 2011 |
N124b is too much considering the internal revenue and the federal allocation to lagos is enough to do those things unless if there is what ACN has to tell us. |
Re: Lagos Is Owing N124b by hercules07: 5:31pm On May 21, 2011 |
Ogunwhatever You are sure I am not from Lagos state though I was born and bred in Lagos, I have lived in Lagos for over 30 years, primary, secondary and part of tertiary in Lagos, own a business in Lagos and I pay taxes in Lagos. How much is Lagos state collecting from the Federation account, how many people are employed by the state government, what projects are being embarked on by the state, abeg go and sit down jare, do you think infrastructure is done with sand? I do not think you know Oyo state very well, my old man is from that state, Akala has done NOTHING, why will he borrow when he did not do anything, I did my masters in UI for two years, the bleaching governor did nothing, imagine you bringing up Akala in a discussion on Lagos, please go and sit down somewhere, you are a Fashola hater. |
Re: Lagos Is Owing N124b by Mariory(m): 6:14pm On May 21, 2011 |
ogunbado: What facts? All you have mentioned so far are opinions. Let's make it easy if you're really interested. No need for long winded irrelevant stories. List the facts that you know and we'll move on from there. |
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