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France Loans Nigeria 100 Million Euros To Develop Lagos. by Rhino5dm: 8:21pm On Nov 25, 2011 |
France loans Nigeria $100 million for buses Tweet November 25, 2011 News PARIS (AFP) France will loan Nigeria $100 million to set up a bus network in its sprawling commercial capital Lagos, the foreign ministry said Friday during a visit by Nigeria’s President Goodluck Jonathan. “In coordination with Nigerian authorities, the French development agency, on the ground since 2008, has made urban development one of its operational priorities inthis country,” a statement said. France said the loan would be made to the Nigerian federal government but then passed to Lagos State. It will help fund the city’s new $330 million urban transport plan, which is cofinanced by the World Bank. Lagos is sub-Saharan Africa’s greatest metropolis and the commercial hub of Africa’s oil-exporting largest nation, but its public infrastructure struggles to cope with its vast population. Jonathan and his finance minister former World Bank managing director Ngozi Okonjo-Iweala are on a working visit to Paris to drum up trade and investment from France, which has growing oil interests in Nigerian fields. |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Rhino5dm: 8:22pm On Nov 25, 2011 |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Rhino5dm: 8:26pm On Nov 25, 2011 |
For the first time am going to thank GEJ, though loans are meant to be avoided if possible, but who cares?. . .since na Lagos the buses dey come. ![]() |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Nobody: 8:46pm On Nov 25, 2011 |
Rhino.5dm: Thank him for what,you must be out of your mind. |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Rhino5dm: 8:54pm On Nov 25, 2011 |
Just did that like 100 times. So, what you gonna do? olas2u: |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Sunofgod(m): 8:58pm On Nov 25, 2011 |
Euros or Dollars? Anyway, who cares - Lagos will soon belong to the 'World Bank' once they start defaulting. The world bank is simply investing in their future infrastructure whilst at the same time burdening Lagos with more debt it will be unable to pay. |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Rhino5dm: 9:07pm On Nov 25, 2011 |
^ Nah! The burden of payment is on Nigeria NOT Lagos, more like FG's mass assisted buses. Those buses are going to be like free of charge to Lagos, going by how uncoordinated and inefficient the FG is, in managing resources. Are you thinking FG will sign a loan for Lagos without her consent?. . .BRF is way too smart to be dragged in to that mess by Retardeen. |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by ektbear: 9:10pm On Nov 25, 2011 |
What interest rate |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Nobody: 9:12pm On Nov 25, 2011 |
Rhino.5dm:I hope he went to France with sound minds,The future will judge all his actions ,if he fails us |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by ektbear: 9:13pm On Nov 25, 2011 |
Anyway, an excellent development. This is an investment in the future |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Nobody: 9:14pm On Nov 25, 2011 |
I hope they use the money to buy quality mass transit buses, not those rickety BRT prototype they've been experimenting if they dont want to incur more unpayable liabilities for the state. It really makes little economic sense why one will be borrowing in order to buy depreciating liabilities. |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by EkoIle1: 9:15pm On Nov 25, 2011 |
mbatuku2: Buses don't depreciate? |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Nobody: 9:17pm On Nov 25, 2011 |
Eko Ile: Is that meant to be a joke? |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Nobody: 9:20pm On Nov 25, 2011 |
I think the person was confused , |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Sunofgod(m): 9:21pm On Nov 25, 2011 |
France will loan Nigeria $100 million to set up a bus network in its sprawling commercial capital Lagos, the foreign ministry said Friday during a visit by Nigeria’s President Goodluck Jonathan. Is the money for buses? Or a network for buses? Or both? I suspect it may be for something like private bus lanes that will either have tolls or the need for a licence to use the road. Either way - Lagosians will end up paying $1Billion plus for it through taxation. |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Rhino5dm: 9:23pm On Nov 25, 2011 |
Just give it to the guy on this one, he went to France seeking for investment and he got 100 million dollars. The guy try na. 100 million dollars no be moi-moi oo. A sharp contrast to the sexual excapades we read from Australia. olas2u: olas2u: |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Nobody: 9:23pm On Nov 25, 2011 |
Lagos already plans to build buses ,that is the only way to save foriegn exchange and chase the peguot out of Nigeria ,many decades in Nigeria,it could not help Nigeria manufacturer a made in Nigeria car.They are assembling cars.Mercedes did well in India ,by helping them with Tata. |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Nobody: 9:27pm On Nov 25, 2011 |
Rhino.5dm: How much is 100 million dollars?You think Nigeria is Benin republic.We dont need Aid in Nigeria .we can create a model like the indians |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Rhino5dm: 9:37pm On Nov 25, 2011 |
olas2u:^ start by creating tooth-pick or safety matches, first. Before you jump in to producing racing cars. olas2u:^ ^ Now tell me, how many new buses do you will bought be from a company for her to stay in business? 1000 or 5000000? Do you think our local market is capable of buying the minimum required units of bus for a company to remain in business? The possible automaker Nigerian market can sustain is assembly plant.(which in many cases have even failed due to lack of patronage from local market). . .or you think na just to produce car be the problem? |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Nobody: 9:44pm On Nov 25, 2011 |
Lagos is a state with so much experience when it come to transportation,politics was used to derail the railway lines that was planned by the jakande government which was also contracted to the french.If you still remmember LMTS,JUBlee lines ,all the buses ended up some where.So BRT now,you think lagos does not know the right way.You need cheaper buses from Asia ,with avaliable spareparts with technicans to transfer knowledge to Automakers and mechanics .Lagos as intelligent people that will protect the state.I know very well.Because our fathers names count very much in this part. |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Rhino5dm: 9:56pm On Nov 25, 2011 |
^ No one is denying the presence of expertise or technical hands or technical know-how that can manufacture a car in Nigeria. The main problem is the market for the products, which i think it doesn't exist in Nigeria. No reasonale investor will put his money in automaking factory in Nigeria(Innoson should testifyto that). How many people are capable of buying brand new car in Nigeria of today? So, no one will start producing things with limited or no market without folding up for the sake of it. |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by EkoIle1: 9:57pm On Nov 25, 2011 |
The story is very fishy. 1. Why borrow from France when there are tones of Banks doing business with and financing projects in Lagos state? 2. There is an existing bus network in Lagos with dedicated BRT lanes, manpower and infrastructures like maintenance yards and services system. 3. Unity Bank just loaned Lagos state 6.3 million dollars to buy 100 BRT buses so what is Jonathan talking about with his 100 million euro loan?
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Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Olowojegure: 9:58pm On Nov 25, 2011 |
I dont support borrowing in any form where there is no obvious exigency to warrant it. We are simply morgaging our future widening there grip on our country. |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by EkoIle1: 10:04pm On Nov 25, 2011 |
I just hope Lagos state is not involved and not part of this bone head loan nonsense. I don't even see any justification for it. |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by EzeUche(m): 10:07pm On Nov 25, 2011 |
So if Nigeria splits, Lagos and the rest of the South-West will owe France 100 millions Euros. ![]() |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Nobody: 10:09pm On Nov 25, 2011 |
Rhino.5dm: I respect your views ,but it lack some basic economic sense,common sense should tell you ,that the reason Nigerians cannot buy new cars are so many,Its a country of 200million and that is a market on its own.Protectionism will increase demand for alternatives.High tarrifs will increase demand for cheaper goods.If the brazilains,indians,singparoans,malayians can buy their cars.Nigerians will do it,What makes them different from us. |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by EkoIle1: 10:12pm On Nov 25, 2011 |
EzeUche: Ode of no common sense. The federal government took and is guaranteeing the loan so the loan is hanging on the federal government, not Lagos state. |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by JamesDoe: 10:20pm On Nov 25, 2011 |
Seems the total financing is $330m for transportation. I do hope it is more comprehensive than simply buying buses but includes technology transfer, fixing of roads and rail transport. A good move if properly implemented. |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by EzeUche(m): 10:24pm On Nov 25, 2011 |
Eko Ile: Ewu! The money is being used to help with Lagos infrastructure. You can't have one's cake and eat it too. |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by EkoIle1: 10:35pm On Nov 25, 2011 |
EzeUche: Olodo. Who's signature is on the loan document? Lagos state or the federal government. What's so hard about reading and comprehending basic English words anyways?
The federal government is doing the borrowing and the pay back method is the usual deduction from Lagos state's statutory allocations Get some civic education myfriend. |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by Nobody: 10:38pm On Nov 25, 2011 |
Nigeria will be in debt before his tenure is over. |
Re: France Loans Nigeria 100 Million Euros To Develop Lagos. by mukina2: 12:02am On Nov 26, 2011 |
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