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Nairaland Forum / Nairaland / General / Politics / Is The Lekki Seaport Partially Owned By Chinese Company? (1849 Views)
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Re: Is The Lekki Seaport Partially Owned By Chinese Company? by YeeboMuslim: 11:15am On Jan 27, 2023 |
Osu pigs hiding their pain behind irrelevant threads ![]() ![]() 3 Likes |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by DaddyFreeze2020(m): 11:26am On Jan 27, 2023 |
Bragalane: Your comment shows you're an economic illiterate. You don't know shishi about Economics, that's why you see nothing wrong in borrowing money from someone for a project and still paying that same person you borrowed from to do the work for you. You have a beggarly mentality. |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by GeneralDae: 11:27am On Jan 27, 2023 |
Two people are unsung heroes of this project: 1. Rotimi Amaechi 2. Bola Tinubu ( for kickstarting the free trade zone in 2006) 1 Like |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by Blaze14k: 11:29am On Jan 27, 2023 |
Patriotsleague: So your analysis it means that nigeria is taking 55% of the earnings from lekki deep seaport while the Chinese company and Tolaram group take 45% every year? I think thats a bad business for china and would they invest over a billion dollars if they earn less. Would u make such a deal? |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by Patriotsleague: 11:45am On Jan 27, 2023 |
Blaze14k:Use your brain, stake and taxes are different. Please understand how business works, before you talk, you sound ignorant. These figures are facts. It's open knowledge. It clearly stated, government stake, and company taxes in this case are known by all, let's talk intelligently. Am not arguing here am trying to enlighten. The figures are open for all to see. 1 Like |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by Blaze14k: 11:57am On Jan 27, 2023 |
Patriotsleague: Bro we are saying the same thing.. someone invested 75% in a company at the of the day he was taxed 30% of his earnings, obviously he is left with 45%. What is hard to understand its a simple math😂😂 |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by DeLaRue: 12:00pm On Jan 27, 2023 |
EdoBoy90: 1. FG is not entitled to own anything. 2. He who has the money more or less dictates the terms (well, to a large extent). 3. Foreign investors will usually not invest in such projects unless they have majority shareholding. You either accept it or they go elsewhere. 4. This is largely a Lagos State-driven project. The Federal government only took a token 5% interest because they probably want a seat on the Board of the company so they can monitor its dealings. 5. Most Foreign investors do not want Federal or State government domination in their Joint Venture. 6. Chinese do not own 75% of the port. That share is owned between a Chinese company and Tolaram. Tolaram is a Singaporean company, not Chinese. They are the makers of Indomie in Nigeria. 7. The port will be run on a BOOT basis for 45 fears, after which its ownership will transfer to Lagos State and the Federal government. 8. The Foreign investors will make a lot of money. But they also took the risk of investing their money. If they didn't, the port would probably not have been built in the time and to the standard it was built. 9. If it becomes the hub port for West and Central Africa as planned, it will bring better efficiency to our economy and generate lots of money for all parties, including the Federal Government through customs and other revenue. Think of all the employment it will generate too and the PAYE that goes to Lagos state government. It is a win win for all involved. 1 Like |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by Patriotsleague: 12:06pm On Jan 27, 2023 |
Blaze14k:45% in a critical sector as maritime is huge. Companies are in it for a long haul. Do you know how much deep sea ports make daily? Nigeria is a high value market, investors know, that's why they rush us. Companies look at marginal profits, not rate. It's better to make 10million 1 billion times, than make 100 million a thousand times. This is a fast paced high profit market and sector. 1 Like |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by DeLaRue: 12:12pm On Jan 27, 2023 |
Patriotsleague: Did Nigeria have the money to develop the port. It is not even about money alone, does the country have the expertise to develop and run a super-efficient port. Look at Apapa, Tin Can, and the rest. Has it not been chaos for decades? I think you are focusing too much on what the private investors will make, and not the benefit to Nigeria. Yes, in an ideal world where Nigeria has the resources and the competence to develop and run an efficient port, one would hope the country would own a majority shareholding in a project like this. But, Nigeria's situation is currently not ideal. |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by Patriotsleague: 12:19pm On Jan 27, 2023 |
DeLaRue:I enumerated that, am just trying to tell that guy that both parties benefits in the deal. |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by Blaze14k: 12:39pm On Jan 27, 2023 |
Patriotsleague: If i have a company overseas and the government take 55% of my profit i wont bother investing😂😂 |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by Patriotsleague: 12:44pm On Jan 27, 2023 |
Blaze14k:You dont have liquidity, these type of investment are funded by a consortium of financial houses, and big time investment portfolios, not one man business. 1 Like |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by ednut1(m): 12:49pm On Jan 27, 2023 |
To be given to lagos/fg after 45 years |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by omonnakoda: 1:04pm On Jan 27, 2023 |
Funny how people argue over what they know nothing about out of spite and envy The deal is build operate and transfer The port will be transferred to Nigeria 100% after 45years Investors own 75% and Nigeria 25% with respect to the Port business FOR 45YEARS . This doesn't capture duties the Customs will make The investors have to make their money Remember a 45year investment is a long-term deal how many individuals will invest in a 45year deal how old would such a person be at the end? Imagine Dangote cement enjoying Obajana How much equity does Kogi or the FG? 1 Like |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by YeeboMuslim: 1:09pm On Jan 27, 2023 |
Patriotsleague:Stop engaging that nuisance abeg He's here to troll . His opinion is driven by sheer hate |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by 00FFT00(m): 1:11pm On Jan 27, 2023 |
please change your heading to "The Lekki Seaport majority Owned By Chinese Company" |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by omonnakoda: 1:16pm On Jan 27, 2023 |
00FFT00:They do not own the Port whether majority of minority They have 75% ownership of a business that has a 45year concession The same model exists in property development Families that do not have money to develop their family home give it to a developer to upgrade and sign to allow the developer enjoy the building for 20years 30 years etc. This doesn't mean that the developer owns the house British took Hong Kong from China for 99years and handed it back at the end . Ownership is eternal not 45years |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by 00FFT00(m): 1:27pm On Jan 27, 2023 |
omonnakoda: Please, don't lecture me on what I am over qualified to tutor you about. That said, you're obviously an urchin, therefore cannot be reasonably expected to tell a self-respecting truth. Default on the conditions of that majority shareholding and experience the other side of Chinese global mercantilism. Happy weekend. |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by omonnakoda: 1:44pm On Jan 27, 2023 |
00FFT00:Your father is an urchin |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by 00FFT00(m): 1:46pm On Jan 27, 2023 |
omonnakoda: And your deranged papa wey born a super deranged urchin like yourself is a deranged super urchin ![]() |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by Patriotsleague: 1:54pm On Jan 27, 2023 |
YeeboMuslim:Sometimes it's good to spend a little time to enlighten people, so we know better. |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by Goke7: 1:57pm On Jan 27, 2023 |
but why are some people pained with this Lekki port, I don't understand |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by flokii: 2:18pm On Jan 27, 2023 |
While the Lekki seaport may seem like something laudable, let's consider the downsides for a moment.. Nigeria through the Lekki ports will become flooded with Chinese products made and packaged in China.What happpens to our young graduates? Which industries will they work in when sooner or later, the industries go extinct from ihigh nflation rate, high costs of diesel etc. The Chinese TV is right about job creation in China because of the over 200 million Nigerians that will have no other options than to embrace China-made goods in the future. See where corruption has landed us in Africa. China had nothing when Nigeria discovered oil and started production in Oloibiri.. Same China today is gradually colonizing not just Nigeria but Africa as a whole. 1 Like |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by YeeboMuslim: 2:29pm On Jan 27, 2023 |
Patriotsleague:You cannot enlighten him. He has no interest in being enlightened |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by Maazieze(m): 2:33pm On Jan 27, 2023 |
Has anyone in this thread put out a source detailing what what stake china has on the port? Also where to get more news on infrastructure projects. |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by omonnakoda: 2:35pm On Jan 27, 2023 |
Maazieze:Go and do your own research Do not be lazy Who did you employ do that for you? |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by Maazieze(m): 2:41pm On Jan 27, 2023 |
omonnakoda: Its important people share the sources they use when talking about this subject otherwise onlookers will be confused where people are pulling percentages from. Its not laziness |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by Blaze14k: 2:41pm On Jan 27, 2023 |
Patriotsleague: Well those companies are owned by individuals. My concern is 75% by these companies cos they have the upper hand in terms of the agreement. They would endeavour to make there profit so i really dont think the federal government will have the control over what is being imported into the country and that will very devastating to our economy. Its like we didnt learn from the oil subsidy yet. |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by omonnakoda: 2:43pm On Jan 27, 2023 |
flokii: Why are Iboes so spiteful and envious? There is nothing linking this port or its ownership to obligation to buy Chinese products On the other hand there is nothing to say existing ports do not facilitate flooding with Chinese products Countries without Chinese ports are flooded too. China is an INVESTOR in the port just like the US,Netherlands are investors in our oil and gas sector The port will be OPERATED BY A FRENCH COMPANY NOT CHINESE. This is the major port in Nigeria designed for export processing. If we do not want to be flooded we must manufacture MTN presence in Nigeria has not made us slaves of SA |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by Goke7: 2:45pm On Jan 27, 2023 |
Blaze14k: Federal Govt is still the regulator through the Nigerian Ports Authority that will ensure compliance with regulatory standards. Unless NPA doesn't do its job there is nothing to worry about |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by omonnakoda: 2:47pm On Jan 27, 2023 |
Maazieze:There is no secret just research Even on Nairaland there are threads that have addressed that issue |
Re: Is The Lekki Seaport Partially Owned By Chinese Company? by Goke7: 2:49pm On Jan 27, 2023 |
flokii: what have we built by ourselves? we keep complaining about foreigners when what we have we can't even maintain for profitability. Don't we have refineries and ports where our people can work, how have we maintained them? We are too corrupt as a people to build stuff, if we have to outsource, let it be as we can't continue to lag behind because of our usual sentiments |
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