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 in this 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

i dont want to believe this report but if it is true,Is innoson not building buses in Anambra State.Jonathan will be there laughing and signing whatever that comes his without reading the small letters below, inferiority complex is destroying African leaders

When are we going to be free from borrowing and servicing of debt.This is what the western world needed most from africa.This also why they hate GADAFFI the more for not giving these chances.GOD,something must be done to save nation.

LOAN?

The same France that's already demanding payment from Libya?

^^
My broda i tired for this people ooooo, them just dey desperate

borrow $100million from France to buy buses made in EU. The most perfect idea.

Yet Innoson and Anamco  are producing buses. Why can't the government plan with these two companies?

saintneo:

borrow $100million from France to buy buses made in EU. The most perfect idea.

Yet Innoson and Anamco  are producing buses. Why can't the government plan with these two companies?

What attempts are these companies making to attract patronage from the government. Most of these people operate on the basis of "if you build it, they will come". Unfortunately, it's not quite as easy as that.
The loan being given by France is not free and probably tied to purchasing buses as you mentioned.
What are these local companies doing to sell their products? He who pays the piper dictates the tune.

Why all these disgrace? Why is he borrowing for things we can do ourselves? So of all our problems, na to enter bus be the greatest?

$100 Million + Interest + Bonuses, access, exchange and things we will forfeit - just to still buy from them? We are more helpless than I hoped.

the guy for buy from innoson and spread the payment for a period of years.
same process as the loan taken.


What are these local companies doing to sell their products? He who pays the piper dictates the tune.
the finance minister and the IMF boss na paddy
wetin u dey expect.
very soon shae fit be president for france and okonjo for nigeria

egift:

Why all these disgrace? Why is he borrowing for things we can do ourselves? So of all our problems, na to enter bus be the greatest?

$100 Million + Interest + Bonuses, access, exchange and things we will forfeit - just to still buy from them? We are more helpless than I hoped.

Can someone ask the FG why they are so silly?

saintneo:

borrow $100million from France to buy buses made in EU. The most perfect idea.

Yet Innoson and Anamco  are producing buses. Why can't the government plan with these two companies?

How many of you are driving cars made by Innoson and Anamco or are prepared to pre-order same from them. Charity needs to start from you all before you earn the right to talk on this issue in this manner.

Weren't people just praising Jonathan for going to France to beg for money like a slave from the French, Nigerians deserve the kind of leaders they get.

Buses without roads = Tea without sugar!

Mu he he he he he. . . .Some still like it 'hot'!

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.

I see the usual spreaders of falsehood are here blaming GEJ as usual. It is really dumb.
All anybody has to do is read the article to see that the FG is only helping Lagos who couldn't get the loan directly themselves. The FG will deduct the loan from Lagos states monthly allowance.

Pity! $100M is peanut compared to what federal govt officials steal every month.