@Eko ile. If U dont know how to manage crisis or criticism, u beta hold ur gut & stop holding brief 4 wot u no nothin about. Is N128 Billion a small amount. Who wil pays dis money back? Is it Fashola or d citizens? Surebet, and it is d citizens dat dey d Fasholas wil impose heavy tax on to pay dis gigantic debt back. If proper caution is not taken, this state, i mean Lagos State will go BANKRUPT sooner dan we anticipated.

basadenet:

@Eko ile. If U dont know how to manage crisis or criticism, u beta hold your gut & stop holding brief 4 wot u no nothin about. Is N128 Billion a small amount. Who wil pays dis money back? Is it Fashola or d citizens? Surebet, and it is d citizens dat dey d Fasholas wil impose heavy tax on to pay dis gigantic debt back. If proper caution is not taken, this state, i mean Lagos State will go BANKRUPT sooner dan we anticipated.

I still dey wonder where NL dey get these dum.b people from.

Mooroon!

basadenet:

@Eko ile. If U dont know how to manage crisis or criticism, u beta hold your gut & stop holding brief 4 wot u no nothin about. Is N128 Billion a small amount. Who wil pays dis money back? Is it Fashola or d citizens? Surebet, and it is d citizens dat dey d Fasholas wil impose heavy tax on to pay dis gigantic debt back. If proper caution is not taken, this state, i mean Lagos State will go BANKRUPT sooner dan we anticipated.

If this is full amount of Lagos's debt, it's manageable. As long as revenue generation growth keeps up with the growth of debt, then this debt is sustainable.

basadenet:

@Eko ile. If U dont know how to manage crisis or criticism, u beta hold your gut & stop holding brief 4 wot u no nothin about. Is N128 Billion a small amount. Who wil pays dis money back? Is it Fashola or d citizens? Surebet, and it is d citizens dat dey d Fasholas wil impose heavy tax on to pay dis gigantic debt back. If proper caution is not taken, this state, i mean Lagos State will go BANKRUPT sooner dan we anticipated.

I know you're not referring to me; but here is my take on it.


Is N128 Billion a small amount

N128 Billion or ($800 million) is quite a fair debt for Lagos considering their revenues; depending on how they manage their debt. I once said before, unless revenues increase, debt should stay at where it is.

Who wil pays dis money back? Is it Fashola or d citizens?

Indirectly it's the citizens of the state who pay for the debt one way or another; either through taxes or some kinda fees or whatever you might call it. However, imposing a tax increase is acceptable but imposing a heavy tax, sooner or later, such decisions have proven to backfire indirectly costing the govt money than it was suppose to create.

If proper caution is not taken, this state, i mean Lagos State will go BANKRUPT sooner dan we anticipated.

While everyone's concern is about bankruptcy though inevitable it's really avoidable. Lagos has to get passed several stages before bankruptcy. They would have defaulted on their loans, they would have been unable to meet certain obligations particularly financially, I can begin to name a whole lot before they are bankrupt. IMO, Lagos has 18million people with at least 40% of that amount "actively working" or engaged in some form of "revenue generating business"; I don't see Lagos going bankrupt anytime soon if they maintain the basic finance and accounting principles. While I don not know how the govt collects their taxes, but they need an advanced system in place to generate all forms of revenues.

That amount plenty o no matter how much u want to see it. We need to understand the cost of the projects in hand and the revenue coming to Lagos. For instance that Lekki-Aja road road cost 50bn and mosty of these money was used in building toll towers.

Nobody likes debt however if it's this amount and seeing onging projects and given fashola antecedents I think it's not a bad thing knowing the economic importance and viaibilty of these projects.

Haqd it been in some , formerly controlled states, I will be this alarmist as a large chunk of the money i know will be in the hands of their cronies. Their philosophy being let's go there and eat our share of the national nay state cake with little regards for the community ( sell outs I called them) !. Now we have something close to what can be likened to good governace and they are doing all they could to rubbish it! Mind you, the State Government is responsible enough to publish this statement to make us aware of this financial status through their ministry! Which of this , led government will be open and stright like this? I wonder the reason for the dust?

Why do this people hate Tinibu this much? Even if he owns the coy ie the tax cllectors and the company is doing a good job and repatriating the fund to State Govt and duelly collecting agency fee which i wanna is not always more than 15% ( lawyers help me out here) then is there any wrong doing or corruption? then why hate him for that . Mind you the coy if he owns it solely woould definitely be paying its staff well (who in turn will feed their family and unemployment is reduced) thus the high efficiency in the Tax remmitance toi the state .

Hate Tinubu or not , the Party he stands for is now a threat to  , and is giving another alternative for now to the rulling party and this is what keeps competition and development in a country or society like uscoming and not a one party mediocre thing. If Fashola's perforance so far has been mediocre and it is still reffered to around the country even in some unexpected places then i think if others will be that mediocre then we are inching towards a better Nigeria.

Haters and alarmist abeg go shak cold pure water and put your money inthe bowl.

vislabraye:

That amount plenty o no matter how much u want to see it. We need to understand the cost of the projects in hand and the revenue coming to Lagos. For instance that Lekki-Aja road road cost 50bn and mosty of these money was used in building toll towers.

Great point, I heard Fashola is going to be on Nairaland tomorrow morning @ 8:0 to brief us. He's going to even tell us that the state government financed the Lekii Toll Road and it's not a PPP projects.

You better make sure you're here tomorrow @ 8:00 am.

your non performing lame duck baba no regret part two president is using almost half of the money for s ingle day's presidential event,and you are here bleating about fashola who has been adjudged as a performing governor

if loan is much but the ability to pay back is available and clear, then the loan is servicable.

we need more loan to develop and live like human being, the money na paper take - use - trash.

well, i don't know much, but i know about N40B i earmarked for 4th mainland bridge, don't know if the funds are released yet. construction projects are very expensive. i pray we see the outcome.

How much is federal government owing?

lucabrasi:

your non performing lame duck baba no regret part two president is using almost half of the money for s ingle day's presidential event,and you are here bleating about fashola who has been adjudged as a performing governor

so 1 billion is half of 124 billion
abeg what is your level of education

and it must be because of this huge debt that Tinubu ordered Fashola to sack striking doctors before he reversed himself just before his wife's election as a SINator do-nothing.